Life-style analysis of major bank credit card users
Journal of the Academy of Marketing Science · 1979 · Volume 7 · Issue 1
Abstract
While life-style analysis appears to be a major tool in segmenting the bank credit card market, few studies have considered the multidimensional nature of the life-style variables which are frequently employed to characterize bank credit card users. In an attempt to overcome this problem, principal axis factor analysis, combined with a varimax rotation procedure, was used to identify the underlying life-style dimensions. Once these life-style dimensions were established factor scores were used as the predictor variables in developing bank credit card users from nonusers. The results of the study indicated that a general credit usage dimension and to a lesser degree a fashion consciousness dimension were most important in differentiating between users and nonusers of bank credit cards.
Keywords
Credit Card, Bank Credit, Store Loyalty, Card Holder, Principal Axis Factor Analysis
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