Marketing of banks - segment of students

Abstract

The competitive environment forces the banks to make different marketing mixes for different customer segments. It is clear that the differentiation and innovation can be the way how to gain new customers or to hold the current customers. Students are a specific marketing segment and banks usually have specific offer for them. The banks realize the students probably finish higher education in the future. Generally it is true that higher education is connected with higher income and therefore this segment of clients can make the VIP group of bank clients in the future. Moreover some of the students are employed and they use not only the free services but also a lot of paid bank services. Above that many students use the overdraft with high interest rate (usually 12-22%). This article deals with marketing of student accounts on the Czech banking market and presents the results of empirical research from Autumn 2011.