Singles in Czech Republic as a Specific Market Segment in Financial Services Marketing

Abstract:

The segment “Singles” could be said as the strong market power. With continuously rising importance for marketing managers in companies providing financial services it can have a crucial business potential for financial business units. The objective of this paper is to provide readers the description of partial output of the primary marketing research with focus on marketing of financial services for the defined segment. Paper determinates the basic problem areas as well as definition of the segment singles, financial services marketing, defining the primary research problem and primary research methodology. Results showed high popularity of pension plans, building savings and life insurance among the studied segment. Furthermore the average number of utilized financial product has been detected as well as tendency of consumers to purchase more products as their income raises till certain saturation. The research analysis disclosed different usage of financial products based on gender and marital status. Popularity of product: investment funds and shares is affected by gender as well as pension plans which are affected by marital status.