Central European Business Review 2013, 2(2):19-24 | DOI: 10.18267/j.cebr.42

Segmentation of Czech Consumers Based on their Attitudes Towards Money

Ivan Tomek1, Václav Stříteský2, Radek Tahal3
1 RNDr. Ivan Tomek, CSc., Owner of consulting agency Mr. Think, Moravska 45, 12000, Prague, Czech Republic, ivan.tomek@mrthink.cz
2 Ing. Václav Stříteský, Ph.D., Assistant Professor, Department of Marketing, Faculty of Business, Administration, University of Economics, Prague, W. Churchill Sq. 4, 13067 Prague, Czech Republic, vaclav.stritesky@vse.cz
3 Mgr. Radek Tahal, Ph.D., Assistant Professor, Department of Marketing, Faculty of Business, Administration, University of Economics, Prague, W. Churchill Sq. 4, 13067 Prague, Czech Republic, radek.tahal@vse.cz

Understanding current and potential customers' behavior is one of the key factors of marketing efficiency and it brings competitive advantage. Companies usually classify their customers and create client groups with similar characteristic features. Such grouping activity is called segmentation or typology. There are many possible methods to obtain data for the segmentation process (e.g. data mining, demographic segmentation, analyzing shopping behavior, media behavior or their combination). This paper concentrates on the financial behavior of the Czech population and brings a survey based on primary data. It takes into consideration aspects like attitude towards risk and savings and even aspects like money ethics and the role of money in society. Seven consumer segments that differ in attitudes towards money were identified and described.

Keywords: consumer segmentation; consumer behavior; money attitudes; consumer typology
JEL classification: M31

Received: February 6, 2013; Revised: June 1, 2013; Published: June 30, 2013  Show citation

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Tomek, I., Stříteský, V., & Tahal, R. (2013). Segmentation of Czech Consumers Based on their Attitudes Towards Money. Central European Business Review, 2(2), 19-24. doi: 10.18267/j.cebr.42
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