ABSTRACT

                              By definition, demographic segmentation divides a market into subsets defined by characteristics like age, gender, income, etc. Companies need to be in tune and up to date with the ever-evolving market conditions, therefore demographic segmentation plays a significant role in the development and rollout of both existing and new products and services. Although a sizable minority of people now utilise banking and financial services, winning over this group will be a significant challenge for the banking sector. The purpose of this study is to investigate and analyse customer reaction to new product or service offerings and how demographic subgroups within a population respond to such changes. The primary data came from a survey of 350 people in Kolkata. Cronbach's Alpha was used to check the consistency of the data and analysis of variance was used to evaluate the hypotheses. Using ANOVA, we investigated the hypothesis that there would be a significant variation in the respondents' customer behaviour based on their demographic characteristics, and we discovered no such difference. 

Keywords: Relevant Keywords: Consumer Behavior, Investment Management, Demography, Market Dynamics