Process / pipelineMarket analysis and customer clustering
Market Segmentation Analysis
Market Segmentation Analysis is a systematic approach to dividing a heterogeneous market into smaller, homogeneous groups (segments) that share similar needs, behaviors, preferences, or characteristics. Developed through advances in statistical clustering and customer analytics, this methodology enables companies to tailor marketing strategies, product offerings, and customer experiences to specific audience groups rather than treating the market as a single entity.
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Sources
- Wedel, M., & Kamakura, W. A. (2002). Introduction to the Special Issue on Market Segmentation. International Journal of Research in Marketing, 19(3), 181-183. DOI: 10.1016/S0167-8116(02)00081-8 ↗
- Kotler, P. (1997). Marketing Management: Analysis, Planning, Implementation and Control (9th ed.). Prentice Hall. ISBN: 978-0132330831
- Dolnicar, S., Grün, B., & Leisch, F. (2018). Market Segmentation Analysis: Understanding It, Doing It, and Making It Useful. Springer. DOI: 10.1007/978-981-10-8818-6 ↗