263 Chapter 11 Selling the Bank behavioralistic. By breaking consumers into segments, banks can focus their marketing efforts on those who are most likely to become customers. This group is the target market. The target market is the market segment that will be the focus of the marketing strategy. Matching Bank Products and Services to Needs and Wants Once the bank identifi es a target market, it can match the needs and wants of these consumers to its products and services. Products and services are designed or modifi ed by analyzing the needs and wants of a certain market segment. In Figure 11-2, characteristics of mortgage loans (the product) are matched to fi rst-time home buyers (the target market). fi Demographic Market Segmentation Ethnicity Age Occupation Gender Family size Income Education Geographic Market Segmentation Region Country State Block Neighborhood City Psychographic Segmentation Habits Interests Opinions Hobbies Activities Lifestyle Behavioralistic Segmentation Benefits sought– motivation for purchase Usage rate Brand loyalty Purchase frequency– birthday, holiday, graduation, anniversary Figure 11-1. Market Segmentation