...Measuring the stability of Retail Market based on its store images – a fuzzy clustering approach. Abstract Purpose segmentation is the point where marketing activity starts. A flawless segmentation results in comparable competitive advantage. The purpose of this study is to examine the stability of segmentation. Design / methodology/ approach - this research examines the stability of the segments. Shoppers have been segmented based on the importance they’ve given to store image. Data collected through mall intercept interviews has been used for it. Segmentation has been done by K-means clustering and fuzzy clustering methods. Membership grades give the samples’ relative position in the cluster. Findings – Various approaches to segment the market has been analysed and the advantages of fuzzy methods has been obtained. Finally the most stable segment, on the other hand the most volatile segment has been found out. Study reveals that fuzzy clustering is potentially useful to assess the stability of segments. Research limitations / implications Research findings are constrained, as the study concentrates on the behaviour of shoppers based on the influence of store images but segmenting based on demographic or lifestyle variables are not considered. However the stability of segments has been analysed for this segments. Practical implications membership grade gives a clear picture of the real market to the marketer. And it helps the marketer to visualize individual’s...
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...Journal of Vacation Marketing http://jvm.sagepub.com/ Benefit segmentation of potential wellbeing tourists Juho Pesonen, Tommi Laukkanen and Raija Komppula Journal of Vacation Marketing 2011 17: 303 DOI: 10.1177/1356766711423322 The online version of this article can be found at: http://jvm.sagepub.com/content/17/4/303 Published by: http://www.sagepublications.com Additional services and information for Journal of Vacation Marketing can be found at: Email Alerts: http://jvm.sagepub.com/cgi/alerts Subscriptions: http://jvm.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Citations: http://jvm.sagepub.com/content/17/4/303.refs.html >> Version of Record - Oct 14, 2011 What is This? Downloaded from jvm.sagepub.com at EMIRATES AHM on February 25, 2012 Article Journal of Vacation Marketing 17(4) 303–314 ª The Author(s) 2011 Reprints and permission: sagepub.co.uk/journalsPermissions.nav DOI: 10.1177/1356766711423322 jvm.sagepub.com Benefit segmentation of potential wellbeing tourists Juho Pesonen, Tommi Laukkanen and Raija Komppula University of Eastern Finland, Finland Abstract The purpose of this study is to segment tourists according to the benefits they seek from a tourism destination. These segments are examined in order to find attractive segments for local wellbeing products. Segmentation in the context of wellbeing and wellness provides companies information...
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...BNAD 303 – Exam 1 Review Sheet I. Introduction to Marketing (Chapter 1) ▪ Understand what marketing is and the overall marketing process. ▪ Know all the necessary and sufficient condition for an exchange ▪ Study all types of marketing management orientations and know the differences between them (Production, Sales, Market and Societal). II. Strategic Planning for Competitive Advantage (Chapter 2) ▪ Understand how business strategy relates to marketing and what is SBU. ▪ Review the different types of marketing strategies (e.g. Ansoff’s strategic Opportunity matrix and BCG matrix) and their components. ▪ Know the elements of a Marketing Plan ▪ Identify what a SWOT analysis is and the components that comprise this overall evaluation process. ▪ Study different ways in which a company can gain competitive advantage. ▪ Understand marketing mix (4P’s) and all it’s components in detail. III. The Marketing Environment (Chapter 4) ▪ Understand how the environment affects marketing related decisions and apply this to firm decision making. How does the environment affect marketing decisions? Understand factors such as social factors, demographic factors, economic factors, technological factors, and political and legal factors. ▪ Review: 1) component lifestyles, 2) demography, 3) age categories/ cohorts (e.g. Tweens, Baby boomers, and Generation Y. ▪ How do purchasing power, inflation, and recessionary pressures affect...
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...Journal of Operations Management 30 (2012) 269–281 Contents lists available at SciVerse ScienceDirect Journal of Operations Management journal homepage: www.elsevier.com/locate/jom Customer-facing supply chain practices—The impact of demand and distribution management on supply chain success Daniel Rexhausen a,∗ , Richard Pibernik b,c , Gernot Kaiser d a EBS Business School, Department of Supply Chain Management & Information Systems, Konrad-Adenauer-Ring 15, 65187 Wiesbaden, Germany Julius-Maximilians University Würzburg, Chair of Logistics and Quantitative Methods, Sanderring 2, 97070 Würzburg, Germany c Zaragoza Logistics Center, C/ Bari 55, Edificio Náyade 5, 50197 Zaragoza, Spain d Technical University Darmstadt, Department of Law & Economics, Hochschulstraße 1, 64289 Darmstadt, Germany b a r t i c l e i n f o Article history: Received 13 December 2009 Received in revised form 23 January 2012 Accepted 1 February 2012 Available online 10 February 2012 Keywords: Supply chain performance Supply chain management practices Demand management Distribution management Survey research a b s t r a c t Traditionally, distribution has been viewed as the key (physical) link between a company’s internal supply chain activities and its customers. More recently, demand management has emerged as a new dimension at the customer interface. Although it has become increasing popular in industry, it has not yet been analyzed in depth with respect to...
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...Business to business marketing management: Routledge, Data retrieved from http://books.google.com.pk/books?id=mkrwJOzdH9gC&printsec=frontcover#v=onepage&q&f=false Finley, D. and Galloway, J. (2001) Strategic Planning in Social Services Organizations: Canadian Scholar’s Press pp.160, Data retrieved from http://books.google.com.pk/books?id=IbugQo4J4FkC&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false Goyat, S (2011) The basis of market segmentation: a critical review of literature. European journal of business and management vol 3 No 4, pp. 45-54. Data retrieved from http://www.iiste.org/Journals/index.php/EJBM/article/download/647/540 Hoovers (2012) Competitive landscape, pp.03. Data retrieved from http://www.hoovers.com/content/dam/US/hoovers/documents/sample-reports/hoovers-competitive-landscape-report-sample-apple.pdf Jain, A. (2010) Principles of marketing, pp. 77-78. Data retrieved from http://books.google.co.uk/books?id=Zxeu8d_fz2QC&pg=PA78&dq=marketing+mix+elements&hl=en&sa=X&ei=nmh-UYT-NvSY0AW51YCABg&ved=0CDkQ6AEwAQ#v=onepage&q=marketing%20mix%20elements&f=false Kotler. P. (2000). Marketing Management, Millenium Edition. Data retrieved from http://dl.ueb.edu.vn/bitstream/1247/2250/1/Marketing_Management_-_Millenium_Edition.pdf Larsen, N. (2010) Market Segmentation-A framework for determining the right target customers, pp. 7-10, retrieved from http://pure.au.dk/portal/files/11462/BA.pdf Pete, A. (2010) Market Segmentation and Strategic Targeting: Pearson...
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...Data Analytics: A Marketing Segmentation Case Study T. Evgeniou, INSEAD J. Niessing, INSEAD The Iterative Process Cycle Data Preparation & Exploration Analysis Goal of Analysis Performance Assessment Segmentation Methodology – A(nother) Process 1 2 3 4 5 6 Identify Business Issues Clarify Scope and Dimensions Generate and Refine Hypotheses Decide on Data to use / Collect Needed Data Build the Segmentation Framework Link to Marketing & Business Strategy A Segmentation (micro-)Process • Segmentation solution is created through a rigorous and iterative process Data Processing/ Factor Analysis Cluster analyses Review and refine Why Segmentation? • SEGMENTATION is a critical enabler to achieve business objectives and realize benefits • SEGMENTATION is critical to identify white spaces for new products/offerings • SEGMENTATION helps organizations to optimize their retention and acquisition strategy • SEGMENTATION is often used to optimize pricing across different products • SEGMENTATION enables organizations to become more customercentric • MARKET DYNAMICS make segmentation critical to business success. Questions You Might Hear… These are only some of the issues that clients may raise that clue you in to appropriateness of segmentation Growth & New Opportunities Market Structure Product Development Channel Deployment Resource Allocation Retention...
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...Economics A comparison of two-stage segmentation methods for choice-based conjoint data: a simulation study Marjolein Crabbe, Bradley Jones and Martina Vandebroek DEPARTMENT OF DECISION SCIENCES AND INFORMATION MANAGEMENT (KBI) KBI 1109 A Comparison of Two-Stage Segmentation Methods for Choice-Based Conjoint Data: A Simulation Study Marjolein Crabbe Bradley Jones Martina Vandebroek Abstract Due to the increasing interest in market segmentation in modern marketing research, several methods for dealing with consumer heterogeneity and for revealing market segments have been described in the literature. In this study, the authors compare eight two-stage segmentation methods that aim to uncover consumer segments by classifying subject-specific indicator values. Four different indicators are used as a segmentation basis. The forces, which are subject-aggregated gradient values of the likelihood function, and the dfbetas, an outlier detection measure, are two indicators that express a subject’s effect on the estimation of the aggregate partworths in the conditional logit model. Although the conditional logit model is generally estimated at the aggregate level, this research obtains individual-level partworth estimates for segmentation purposes. The respondents’ raw choices are the final indicator values. The authors classify the indicators by means of cluster analysis and latent class models. The goal of the study is to compare the segmentation performance of the methods with respect...
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...Samar Abass 3) Umair Khalid 4) Fawad Anjum 5) Farrukh Nabeel 6) Tahir Jamshed Butt Submitted To: Ma’am Ummara Rana Topic: Habib Oil Mills Analysis Table of contents: Preface…………………………………………………………………………. About company………………………………………………………………… Mission statement………………………………………………………………. History of growth……………………………………………………………….. Current selling situation of the consumers……………………………………… Consumption pattern of HABIB Oil……………………………………………. Competitive situation…………………………………………………………… Swot analysis…………………………………………………………………… Target market…………………………………………………………………… BCG Matrix……………………………………………………………………... Marketing segmentation ………………………………………………………… Basic for segmentation ………………………………………………………….. Customer analysis…………………………………………................................. Internal audit……………………………………………………………………. Product………………………………………………………………………….. Price…………………………………………………………………………….. Place……………………………………………………………………………. Promotion………………………………………………………………………. Tabulation of the Results and Findings………………………………………… Pie Chart………………………………………………………………………… PREFACE: First of all I would like to thank our instructor Mam Umara Rana for providing us the opportunity to look into various consumer plans of Habib Oil Mills Pvt (Ltd). This project has given me a complete knowledge and practical experience, which will help me in future. I am also...
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...A true marketing orientation requires orgs to focus on meeting the needs of customers. Few companies can supple one product for all eg water supply utility. Most companies face an increase in fragmented markets. SEGMENTATION is about identifying groups of buyers within a market place who have needs that are distinctive in the way they deviate from the ‘average’ customer. Def ‘the identification of sub-sets of buyers within a market who share similar needs and who have similar buying processes’. There are many possible factors that might influence an individual’s choice of product/car (personalisation). The critical approach involves breaking down the ‘problem’ (how to persuade the customer to buy) into sub-problems. Criteria for effective segmentation…What is an appropriate basis for segmenting one market may not be appropriate to all markets. We consider 4 criteria when assessing the effectiveness of any segmentation: *usefulness to a company’s marketing planning; size of the resulting segments; their measurability; and their accessibility. This exercise is only useful to a company if it allows them to penetrate a greater proportion of its market that was not possible before taking out the exercise. Companies must be careful not to homogenise segments, as buyer views are always varied and diverse. Segment size-as they segments become smaller, you are closer to achieving marketing philosophy of satisfying each customers needs, but if they become too small they become uneconomic...
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...A Cross-National and Cross-Cultural Approach to Global Market Segmentation: An Application Using Consumers’ Perceived Service Quality James Agarwal, Naresh K. Malhotra, and Ruth N. Bolton ABSTRACT The spread of global culture is being facilitated by the proliferation of transnational corporations, the rise of global capitalism, widespread aspiration for material possessions, and the homogenization of global consumption. The extent of convergence of cultural values across nations has been debated by international marketing researchers. However, from a practical standpoint, transnational firms require a cross-national, cross-cultural approach to market segmentation that can be used to guide the development of global marketing strategies. In this study, the authors investigate the application of cross-national versus cross-cultural approaches to market segmentation through a rigorous empirical investigation in the context of banking services. Although services constitute the fastest growing sector of the world economy, few studies have examined global market segmentation strategies for them. The authors develop theory-based crossnational hypotheses and test them by estimating a structural model of consumers’ perceived service quality using survey data from two countries: the United States and India. They test cross-cultural hypotheses by estimating the same model on culture-based clusters. They demonstrate that there are distinctive differences between cross-national and crosscultural...
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...clothing, warmth and safety B. Social needs- belonging and affection C. Individual needs- knowledge and self-expression Wants- The form human needs take as they are shaped by culture and individual personality. Demands- human that are backed by buying power. Market Offerings- some combination of product, services, information, or experiences offered to a market to satisfy a need or want. Market myopia- the mistakes of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. Exchange- the act of obtaining a desired object from someone by offering something in return. Market- the set of all actual and potential buyers of a product or service. Marketing management – the art and science of choosing target markets and building profitable relationships with them. Market Concept Production Concept- the idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency. Product Concept- holds that consumers will favour products that offer the most in quality, performance, and innovative features. Selling Concept- the idea that consumers will not buy enough of the firm’s product unless it undertakes a large-scale selling and promotion effort. -is typically practiced with unsought goods—those that buyer do not normally think of buying, such as insurance or blood...
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...Target marketing and segmentation: valid and useful tools for marketing Dennis J. Cahill North Union Associates, Inc., Cleveland, Ohio, USA Discusses Wright’s recent attack on targeting and segmentation theory. Proposes that, although Wright has some valid criticisms about specific applications of the concepts, targeting and segmentation are acceptable and defensible marketing strategies if properly designed. Gives some indications of possible methods for segmenting that may meet Wright’s criticisms. Recently, Malcom Wright presented a daunting challenge to the marketing discipline[1] – to justify the ongoing use of segmentation and target marketing. Although his article was written in response to what he characterized as a “startling” argument by Mitchell that zodiac signs be used for segmentation[2], he used the occasion to attack the concepts of segmentation and targeting per se. Although Mitchell’s example of zodiacal segmentation was perhaps light-hearted, his argument is not. Mitchell posits, as do most marketing academics and practitioners, that the firm will be better off – in terms of greater unit sales at (possibly) higher prices and/or lower cost of sales – by emphasizing our approach to certain groups of people and deemphasizing our approach to others. Wright’s argument In essence, Wright totally denies the validity of segmentation and targeting on two grounds. The first ground is that, for segmentation to have validity, the segments are associated with a...
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...Kaiser. "Customer-Facing Supply Chain Practices -- The Impact of Demand and Distribution Management on Supply Chain Success." Journal of Operations Management 30.4 (2012): 269-81. Print. Research Classification: The authors of this research performed an empirical based study and outlined three objectives to their study: 1. …to provide empirical evidence of whether or not demand management (DeM) does indeed have such a substantial positive impact on supply chain performance; 2. …the simultaneous evaluation of the impact of customer-facing SCM practices related to both DeM and distribution management (DiM); 3. …the analysis of a potentially existing relationship between DeM and DiM, (p270 et al. 1-3). To meet the objectives of their study, the authors “identif[ied] relevant practices to DeM and DiM” through literature reviews and expert interviews, and from here, the authors created a conceptual model and utilized the partial least squares to test their hypothesis, (p269 -70). Statement of Problem: This journal article aims to examine the “relative impact of relative practices associated with demand and distribution management,” (p 269). Defined by the authors as “…the ability of a company to understand customer demand and requirements and balance them against the capabilities of the supply chain,” demand management (DeM) is becoming more and more popular in the operations management field; however, DeM has not been comprehensively analyzed in terms of supply chain performance...
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...to suffer because of its targeted consumers as well as higher price for them to afford and poor distribution system. Objective of the research: The objective of the research is to find out what problems lie behind the decrease of the sales of Shokti doi. Does the current segmentation, targeting, positioning, product, price and distribution has any impact on poor sales of Shokti doi and how it can be changed. Research Design: Our research on Shokti doi will be an exploratory research. The type of information that we have gathered are mainly quantitative. Our research is based on survey questionnaire. The survey questions ask for both income level and the lifestyle of surveyee. Our sample size is 30. Management Decision Problem: How to increase the sales of Shokti Doi? Marketing Research Problem: How to improve the sales of Shokti Doi by changing the segmentation, targeting, positioning, product, price and distribution? Research questions & Hypothesis: 1) Is the segmentation of urban people right for Shokti doi? Hypothesis 1: Segmentation should be only toward the School goinig childern. Hypothesis 2: Segmentation should be only toward the working class woman. Hypothesis 3: Segmentation should be only toward the old aged people. 2) What should be the proper target market for Shokti doi? Hypothesis 1: Should Shokti doi target School...
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...Literature Reviews: Adolescent Addiction Gambling Shortens This Life Span by Valdora L Avery Mrs. Linda Vesey-Gutierrez MA FST 613 Spring Arbor University-Detroit February 15-2013 Categories of Studies 1. Conceptualization of Adolescent Gambling Types A. Research on Adolescent Population 13-22 years old B. Cross-Cultural Studies 2. Level specific Gambling/Adolescent Prevention Strategies A. Gambling regulation enforcement B. Gambling Adolescence behavior 3. Spectrum gambling impact on the Adolescent Life Span Category 1: Edinete R. M., & Fudge. J., Urie Bronfenbrenner’s theory of human development: Its evolution from ecology to bioecology. Journal of Family Theory & Review, 5, 243-250. (2013) Glass Q.V. & Few-Demo L.A. (2013). Complexities of informal social support arrangements for black lesbian couples. Family Relations Interdisciplinary Journal of Applied Family Studies 62(5).714-724. (2013) Mamta, S., & Kari A., (2013). Siblings of individuals with disabilities: Reframing the literature through a bioecological lens. Journal of Family theory & Review, 5, 300-312. (2013) Swenson. S & Lakin.C. A wicked problem: Can government be fair to families living with disabilities. Family Relations Interdisciplinary Journal of Applied Family Studies 63(1), 185-198. (2014) Wehmeyer. L.M. (2014). Self-determination: A family affair. Family Relations: Interdisciplinary Journal of Applied...
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