Raleigh Trust Bank Is Analyzing Its Customer Database to Identify

Multiple Choice

Raleigh Trust Bank is analyzing its customer database to identify customers with similar patterns of income and expenditure. The bank is looking at data such as age, sex, family size, loan activity, credit card activity, deposits, withdrawal, and account balances of consumers. The bank has identified three different types of customers based on these factors and is planning to offer different products to better meet the needs of each group. Which of the following marketing concepts is illustrated by the given scenario?

A) Cause marketing
B) Market segmentation
C) Corporate strategy
D) Product augmentation