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Identifying Affluent Consumers: Is High Income All that Matters? (Brazil)

By Venancio de Castro, Christina Sommer, Luciana Leal, and Eduardo Sanchez

Affluent consumers are the apple of every marketer’s eye. Capturing their attention, however, can be a difficult and costly proposition if not done with precision.

Income alone does not provide banks with sufficient information on which to base product and marketing initiatives; they need to go deeper. Attitudinal and behavioral segmentation, whether achieved through consumer research or by mining customer transaction data, allows banks to get to know their customers better. This understanding enables issuers to tailor their product design, marketing, and communications efforts to those segments, ensuring greater customer receptivity to the products and services offered. Segmentation also allows organizations to learn which consumer segments represent the greatest revenue potential and to determine the best approach for maximizing return.

MasterCard has conducted several segmentation studies that have informed and prioritized our product development and marketing efforts—and helped MasterCard issuers more effectively reach and retain affluent consumers.

We believe that as the Brazilian banking market becomes more competitive, it will be necessary to articulate and deliver focused product value propositions that meet the increasing expectations of different types of affluent consumers. Banks that take the time to understand their customers and build products with relevant value propositions will not only attract the cardholders they desire, but will have a better chance of keeping them for the long term.

1. TGI, 2008.

Affluent Consumers Fell into Every Segment
Behavioral Segments vs. Individual Monthly Income

Source: MasterCard, Segmentation Study, 2006.