Alternative approaches to cluster-based market segmentation

Article Abstract:

The effectiveness of several clustering techniques commonly used in marketing research was evaluated. The techniques were implemented on nine large-scale data sets by means of a k-means clustering routine which is highly similar to BMPD KM. Results indicate that clustering based on rotated factors led to data which have poorer associations with exogenous variables. On the other hand, clustering methods based on the original data were found to be capable of generating data with that show association with exogenous variables.

Market surveys

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Dual considerations

Article Abstract:

Addressing consumer preferences in brand choice is of utmost concern to a supplier. A multidimensional approach of combining perceptual mapping of consideration sets (consumers' choice brands) to numerical testing, where a consumer's closeness to brand is tested, is discussed. Analysis of consideration sets not only helps consumers in their purchasing decisions, but also helps suppliers in marketing the most preferred brands of their customers. Interbrand similarity and its statistical significance is determined.

Canada, Market Research, Market Research & Product Development, Evaluation, Marketing research, Brand choice, Consumer preferences

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