Marketing segmentation is the process of divide customers into different groups,

within which customers possess similar characteristics and requirements

(McDonald and Dunbar, 1998). The bank segments their customers as follows:
Individual customers: the main services provided to this segment are savings and
account services, mortgages, credit cards etc...
SMEs: this sector has grown rapidly in the footprint countries of the bank in Asia,
Africa and the Middle East, but most of them have not enjoyed the global
standard banking services (SCB, 2009). The most suitable services for the
segment are cash management, trade finance; lending...
Corporate & Institutional customers: these are large customers with extensive
financial needs. In this segment the bank provides wholesale banking services
i.e. clearing and collection services, liquidity management, treasury, advisory
services...
Islamic customers: this group of customers uses financial services in line with
Islamic law (Shariah). Therefore the bank provides financial services that are in
conformity withShariah. (SCB)
The segmentation enables the bank to understand each segment's needs, thus
design the most appropriate marketing mix for each segment. Positioning is the
next stage after segmentation and targeting. Positioning is about how a company
wants the customers to perceive its brand and products (Ennew and Waite,
2007). The position of the bank in the global marketplace is as in Figure 1.
Figure 1: positioning for Standard Chartered Bank Plc.
The bank has a high quality of services in comparison with those of other
international financial institutions. However the accessibility is lower than other
global rivals (HSBC, CitiBank, Deustche Bank...), since the bank does not have
strong presence in Europe and the US, but has a strategy to focus in Asia, Africa
and the Middle East (SCB).