An important bank from Romania wished to gather information about the Romanian market concerning the profile of the retail clients and their banking behavior.

A segmentation study was conducted on a representative sample of banked population (general population that has at least one banking product) and on a representative sample of the bank clients. The scope was to obtain valuable insights, to outline main characteristics of several segments of retail banking clients, to understand perceptions, usages and attitudes related to banking products and services and to gain insights into respondents’ lifestyle (to link their life values  with their banking behavior).

The main outcome was to understand the needs of each segment and to understand the sales approach for each segment.

The most important finding of the research was that two of the segments with potential, which were found among the general banked population, were significantly underrepresented among the bank clients.

This situation led to a rethinking of the products’ portfolio, of sales targets and of the sales approach from the bank perspective.