Suboptimal segmentation: Assessing the use of demographics in financial services advertising

Niall Piercy, C Campbell, D Heinrich

Research output: Contribution to journalArticle

3 Citations (Scopus)


Marketers routinely make use of demographic-based segmentation as a means of targeting customers of financial services. This article builds on growing evidence that a demographic-based approach is ill-founded. Using a large sample we investigate whether demographic information is of use in segmenting customers and find little support for existing practice. Implications for researchers and managers are discussed.
Original languageEnglish
Pages (from-to)173-182
Number of pages10
JournalJournal of Financial Services Marketing
Issue number3-4
Publication statusPublished - 2011



  • advertising
  • marketing research
  • demographics
  • segmentation

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