Market Segmentation Research Articles

Strategic Customer Segmentation: Harnessing Machine Learning For Retaining Satisfied Customers

This research paper explores the burgeoning field of machine learning and its application in strategic customer segmentation within the aviation industry. Leveraging the Airline Passenger dataset, this study assesses the potential of various machine learning classifiers to enhance customer retention by effectively segmenting satisfied customers. Our methodology involves a comparative analysis of five machine learning classifiers: Random Forest, K-Nearest Neighbors (KNN), Decision Tree, Naive Bayes, and Artificial Neural Network (ANN). Each classifier is rigorously tested and evaluated based on key performance metrics including accuracy, precision, recall, and F1-score. The results indicate a diverse range of classifier effectiveness. Notably, the Random Forest classifier outperforms others with outstanding metrics: accuracy, precision, recall, and F1-scoreof 0.96. Decision Tree follows closely, also achieving high performance with a score of 0.95 across all metrics. Naive Bayes and ANN demonstrate respectable performance, with accuracyscores of 0.86 and 0.90 respectively. In contrast, KNN presents lower but consistent performance, with all metrics at 0.75. These quantitative findings highlight the nuanced performancedifferences among classifiers, emphasizing the critical role of algorithm selection in achieving precise customer segmentation. This study provides significant insights into the application of machine learning for strategic customer retention in the aviation sector, presenting practical implications for airlines aiming to optimize their segmentation strategies and retain satisfied customers. By showcasing the varying performances of different classifiers, this research contributes to the broader discourse on integrating machine learning into customer-centric strategies, ultimately aiding airlines to engage and retain their customer base more effectively.

Business Development Strategy Analysis Using the Business Model Canvas Approach at Genong Farm Madiun

This research aims to analyze and recommend business development strategies for Genong Farm Madiun using the Business Model Canvas approach. The method used is descriptive qualitative, with data collection through observation, interviews, documentation, and triangulation. Data is analyzed using the Miles and Huberman model, which includes data collection, data reduction, data presentation, and verification. The research results identify that the business model of Genong Farm Madiun encompasses nine elements of the Business Model Canvas: Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure. Based on this analysis, strategic recommendations are provided for each element to enhance business operational effectiveness and efficiency. This research provides valuable insights into how Genong Farm Madiun can optimize its business model to achieve sustainable growth and increase market competitiveness. The recommendations given are expected to assist Genong Farm Madiun in designing better and more innovative business strategies.

Shared e-scooters: A last-minute mode?

In this paper we assess whether shared e-scooters are being used in hurried situations to avoid arriving late, making trips we define as last-minute trips. We identify trip characteristics for last-minute trips using data from shared e-scooters in Stockholm. Trip arrival time patterns, distances, durations, and speeds are analyzed in relation to desired arrival times. We observe a peak in the number of trips ending before the full hour and a smaller peak of trips ending before the half hour of weekday mornings. These trips have lower average trip durations and higher average speeds, indicating a larger share of last-minute trips. Arrival patterns shift when the assumed preferred arrival time changes, and when the risk associated with arriving late increases. Furthermore, there is an increased share of trips that started close to public transportation around the full hour, indicating that a portion of last-minute trips may also be last-mile trips. Our results show that while last-minute trips are infrequent per user, they do make up a relatively large share of weekday morning trips. These results highlight an important market segment for shared e-scooter services and may also explain why some research reports e-scooter usage replacing walking.

Economic growth target and patent quality: the heterogeneous effects of knowledge stock

ABSTRACT Using the Chinese industrial enterprise database and enterprise patent database, we investigate the influence of economic growth targets on patent quality, gauged via the knowledge breadth approach. Our findings reveal: (i) Economic growth targets significantly diminish patent quality, a conclusion that remains robust through multiple sensitivity analyses. (ii) Several underlying mechanisms drive this impact, including reduced allocations for education and science, as well as amplified market segmentation. (iii) The effect demonstrates heterogeneity based on knowledge stock, represented by firm age and export activities. Notably, for firms with substantial knowledge stock, the negative impact on patent quality becomes less pronounced. Our research sheds light on the nuanced ramifications of performance target management and elucidates key determinants of patent quality.

Who will board urban air taxis? An analysis of advanced air mobility demand and value of travel time for business, airport access, and regional tourism trips in Iran

Recent advancements in the development of a comprehensive urban air mobility ecosystem promise the opportunity for its implementation in the near future. However, the utility of this emerging mode of transportation in comparison to the existing modes varies for different trip purposes and geographical contexts. It is, therefore, imperative to assess its usage potential for various scenarios before moving forward with implementation efforts. This paper presents the findings of three stated preference surveys aimed at characterizing prospective urban air mobility travel demand for weekly business, airport access, and regional tourism trips in Iran. Hybrid multinomial logit and hybrid nested logit models are estimated for each trip purpose. The results indicate that urban air mobility for weekly business trips represents the most viable market segment. Value-of-time estimates for weekly business trips are more than two and a half times higher than those for airport access trips, and tourism trips are valued even less. There is a trend towards delaying the adoption of air taxis to gain trust, and reducing ticket prices is seen as the most effective incentive for increasing the adoption rate. This study pioneers research on urban air mobility in a developing country context, offering valuable insights into market viability for investors and policymakers.

The Role of Marketing Strategy for Knit Bag SMEs Businesses Success in the Case of Audy Handmade

Micro, Small, and Medium Enteprises (MSMEs) were known for their contribution to Gross Domestic Product (GDP) and work labor absorption. However, they often face a lack of strategic planning, limited funding, and strategy to meet market demands. This can be caused by a lack of marketing strategy formulation. This study aims to provide a descriptive overview of community service from university to empower MSMEs in marketing strategy analysis by conducting an international seminar. This study uses the Participatory Action Research (PAR) method in empowering Audy Handmade. This MSMSe focuses on knit bag production. This study consists of three main activities which initiated by preliminary visit to gain insight into existing problems. The international seminar was also conducted as the next activity to solve their problem. This seminar aims to become a sharing session between the MSMEs and marketing experts to share their conditions and provide feedback from experts to MSMEs. Lastly, there is an evaluation stage to ensure the main goals of the event were achieved. The workshop results in two points that need to be a concern for Audy Handmade. First, they need to produce a bag that can be of unique value for them such as adding some unique element or their logo on the bag. Besides that, they need to reorganize their marketing strategy. They need to focus on some specific marketing segment to help them take a position in the market. A strong brand identity, effective marketing strategies, and attractive product packaging were believed to help improve their products' visibility, competitiveness, and sales in the market. Therefore, Audy Handmade needs to strengthen its brand image, especially its product uniqueness, and its position in certain market segments. This needs to be taken into consideration as a means of strengthening their position in the knit bag industry.

Enhancing Supply Chain Agility and Sustainability through Machine Learning: Optimization Techniques for Logistics and Inventory Management

Background: In the current global market, supply chains are increasingly complex, necessitating agile and sustainable management strategies. Traditional analytical methods often fall short in addressing these challenges, creating a need for more advanced approaches. Methods: This study leverages advanced machine learning (ML) techniques to enhance logistics and inventory man-agement. Using historical data from a multinational retail corporation, including sales, inventory levels, order fulfillment rates, and operational costs, we applied a variety of ML algorithms, in-cluding regression, classification, clustering, and time series analysis. Results: The application of these ML models resulted in significant improvements across key operational areas. We achieved a 15% increase in demand forecasting accuracy, a 10% reduction in overstock and stockouts, and a 95% accuracy in predicting order fulfillment timelines. Additionally, the approach identified at-risk shipments and enabled customer segmentation based on delivery preferences, leading to more personalized service offerings. Conclusions: Our evaluation demonstrates the transforma-tive potential of ML in making supply chain operations more responsive and data-driven. The study underscores the importance of adopting advanced technologies to enhance deci-sion-making, evidenced by a 12% improvement in lead time efficiency, a silhouette coefficient of 0.75 for clustering, and an 8% reduction in replenishment errors.

Towards a deeper understanding of senior tourists: challenges and opportunities of an emerging market segment

Towards a deeper understanding of senior tourists: challenges and opportunities of an emerging market segment

Reputation-based persuasion platforms

In this paper, we introduce a two-stage Bayesian persuasion model in which a third-party platform controls the information available to the sender about users' preferences. We aim to characterize the optimal information disclosure policy of the platform, which maximizes average user utility, under the assumption that the sender also follows its own optimal policy. We show that this problem can be reduced to a model of market segmentation, in which probabilities are mapped into valuations. We then introduce a repeated variation of the persuasion platform problem in which myopic users arrive sequentially. In this setting, the platform controls the sender's information about users and maintains a reputation for the sender, punishing it if it fails to act truthfully on a certain subset of signals. We provide a characterization of the optimal platform policy in the reputation-based setting, which is then used to simplify the optimization problem of the platform.

Strategi Pemasaran untuk Meningkatkan Daya Saing Coffeeshop: Studi Kasus 110 Degreecafe

The research results show that the marketing strategy implemented has had a positive impact on the competitiveness of 110 degree café. Proper market segmentation, followed by product offerings that suit customer preferences, has increased customer loyalty. Strong brand positioning has differentiated 110 degree café from its competitors, while creative promotional efforts have attracted the attention of the target market. In addition, the use of social media as a communication and promotional tool has expanded reach and increased brand awareness. This research aims to analyze the effectiveness of the marketing strategy implemented by 110 Degree Café in Seturan Yogyakarta. Through a case study approach, primary data is collected through interviews with management and direct observation, while secondary data is obtained from related literature and information from the industry. Analysis is carried out through a theoretical framework involving marketing concepts, such as market segmentation, brand positioning, promotions, and social media marketing. This research makes an important contribution to the understanding of the importance of effective marketing strategies in increasing the competitiveness of coffee shops. Practical implications of this research include recommendations for improving marketing strategies, including increased focus on deeper market segmentation, product innovation, and more efficient use of social media.

A vertical index of direct competition in international trade: The case of CHINDIA and CARICOM

This paper assesses the genealogy of competitive indices in international trade and theoretically develops a measure of export threat which estimates direct competition in vertical market segments. We identify the assumption of homogeneity in these export threat measures as a weakness that undermines accuracy. Hence, we develop a new measure of export threat, the direct intra-market threat (DIMT), which incorporates relative vertical and market share changes over time to accurately estimate a country’s direct threat to other exporters in a third market. We argue that the market segmentation method applied in complement to the DIMT estimate provides an all-encompassing methodology in the estimation of export threat, which we argue is superior to the Dynamic Index of Competitive Threat (DICT) and Direct Threat methodologies. The paper uses the case of China and India (CHINDIA) and the Caribbean Community (CARICOM) to assess the empirical estimates of the DIMT relative to DICT and Direct Threat over the period 2000–2021. Our study is motivated by a research gap in the estimation of the competitive threat posed by a large, diversified exporter on Small Island Developing States (SIDS).

Competitive Advantage dalam Peningkatan Mutu Pendidikan Islam

This research aims to describe competitive advantage which focuses on competitive strength, competitive area, and competitive results in improving the quality of Islamic education at SMAS Islam Sunan Gunung Jati Ngunut Tulungagung. This research uses a qualitative approach with a field study type. The method used in this research is descriptive with data collection techniques using in-depth interviews, observation, and documentation. The data analysis technique in this research was carried out in three stages, namely data condensation, data presentation, and verification of findings. Checking the validity of data in research uses extension and persistence of participation. The results of this research show that (1) the competitive strength of SMAS Islam Sunan Gunung Jati Ngunut Tulungagung refers to its advantages and differentiates it from competitors, thereby providing a competitive advantage in the market. (2) The competitive area includes certain market segments or the entire market targeted by educational institutions. (3) Then the competitive results are reflected in the institution's ability to attract prospective students, provide quality education, and meet the needs of students and parents effectively.

Queer-friendly tourist destinations: how are they perceived by the LGBTIQ+ communities?

ABSTRACT This study employs identity-based motivation theory to analyze the impact of queer-friendly initiatives in tourist destinations. Data was collected from 590 LGBTIQ+ tourists using a self-administered electronic questionnaire. The research reveals that queer tourists value destinations that share and promote inclusive values. Results suggest companies that are more committed to the communities have a high significant impact, although queer tourists appreciate any queer-friendly action. Contrary to previous studies on LGBTIQ+ communities and brands, queer tourists value the queer-friendly actions, solidarity, and kindness of tourist destinations without placing significant emphasis on the genuineness of these actions. This research provides important insights for queer-friendly destinations looking to support and engage with the LGBTIQ+ communities, enhancing their significance within this market segment.

СОВЕРШЕНСТВОВАНИЕ МЕТОДОЛОГИИ ОЦЕНКИ КОНКУРЕНТОСПОСОБНОСТИ ПРОДУКЦИИ КАК ИНСТРУМЕНТ ПОВЫШЕНИЯ ЭКОНОМИЧЕСКОЙ БЕЗОПАСНОСТИ ПРЕДПРИЯТИЯ

The article shows the importance of effective product competitiveness management to ensure the economic security of the enterprise. A conceptual scheme for assessing the competitiveness of products and methods of its application are presented, competitiveness indicators are determined, complex qualitative and economic indicators and an integral indicator of competitiveness are calculated using the example of products of enterprises of the leather industry. Based on the analysis of competitiveness indicators, the place of the products of the studied enterprise among similar products of competing firms is determined. The developed algorithm for assessing the competitiveness of products, the proposed approaches, methods and tools are of great practical importance and can be recommended for use in various industries when determining the place of a company's products in a specific market segment and subsequent development of a competitive development strategy in order to ensure the economic security of the organization.

Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review

Through the synthesis and analysis of 64 papers, from JSTOR, ScienceDirect, and Google Scholar data bases, include 2010-2024 of 15 years duration paper works. this systematic literature review identified major themes and provided insights into growth management strategies, marketing tactics, challenges, and opportunities, benefits, that managers confront in their quest to sustain competitiveness and profitability in mature markets. Product diversification, market segmentation, innovation management, cost-effective lifecycle planning, price strategies, market expansion, client retention, alliances, and collaboration are a few examples of important tactics. The difficulties include growing rivalry, market saturation, shrinking profit margins, and shifting consumer tastes. To maintain competition, there are nevertheless still chances to take advantage of economies of scale, brand equity, and customer loyalty. The review's insights deepen our understanding of how businesses may best manage opportunities and overcome obstacles to maximize product lifecycle management at various stages of maturity. By providing a comprehensive understanding of the existing body of knowledge, this review offers valuable insights for practitioners, managers, and researchers aiming to enhance product lifecycle management (PLM) strategies at the maturity level, ultimately contributing to the development of more resilient and adaptive business models and research gaps have identified that enabled to provide future research directions.

A STUDY OF INVESTOR’S ATTITUDE TOWARDS MUTUAL FUNDS AS AN INVESTMENT OPTION

Mutual fund as an investment avenue provides a platform to the investor who does not want to take high risk on their hard-earned investment. In India, mutual fund industry is growing rapidly and this industry has emerged as an important segment of the financial market of India, especially in channelizing and mobilizing the savings of millions of individuals into the investment in equity and debt instruments. Mutual fund investment is less risky than investing directly in stocks and is therefore a safer option for risk averse investors. A competent fund manager should analyse investor behaviour, perception, and attitude and understand their needs and expectations to gear up the performance to meet investor expectations and requirements. Also, the mutual fund industry today is one of the most preferred investment options of all over the world. It plays a crucial role in the economic development of a country. Mutual fund active involvement can be seen by their dominant presence in the money market as well as the capital market. They are also found very active in the stock market by way of ensuring stability as a supplier of large funds through steady absorption of floating stocks. Investors invest directly in individual securities or indirectly through a financial intermediary. Study intends to identify the usage of schemes and level of risk on the basis of their income level. The findings of the study indicate that the majority of the selected respondents have used open ended schemes with moderate risk.

Career and educational trajectory of Bachelors of Applied Informatics at a regional university: aspects of design and implementation

This article analyzes a complex set of personnel training problems for the digital economy. The authors note that the mechanical increase in budget places in the system of higher and secondary vocational education is not enough to provide the IT segment of the labor market in Russia, which is related both to the quality of training of specialists and to the career expectations of graduates. The author’s definition of the student’s career and educational trajectory is given. As one of the possible solutions, an integrative-micromodular approach is proposed, the key element of which is the cooperation of the student, the university and potential employers in designing and implementing an effective career and educational trajectory for each student. The authors note significant differences in the goals, resources and strategies of federal, national and regional universities, while focusing on the latter. Using the example of bachelor’s degree training in the field of Applied Informatics 09.03.03, the issues of work and part-time work of students during the study period, the influence of this factor on the career and educational trajectory are analyzed in depth. Examples of the implementation of micromodules «career stage» in the disciplines of «Programming», «Databases», «Information Systems Design», «Software Engineering», «Data Analysis», «Cloud services», «Web programming» are considered. The strategy of using psychosemantics methods for recognizing and clarifying the image of a future profession, professional self-reflection and, possibly, professional trials is described.

Political Microtargeting – on the Possibility of a Polish Version of the American Cambridge Analytica Scandal from 2016

The use of political microtargeting, a technique of political market segmentation based on an algorithm that allows personalising campaign materials catered to individual voters, is on the rise with political campaigns across the world. Trump’s 2016 campaign provides an example of it being used in an ethically-questionable way that entails personal data infringement. The article looks at the possibility of using it in a similar way in Poland. To this end, the author presents a comparative analysis of a number of elements that make up the political landscapes of the United States and Poland.

The Influence of Social Commerce Dynamics on Sustainable Hotel Brand Image, Customer Engagement, and Booking Intentions

Social commerce plays a significant role in various aspects of the hotel industry. By using social commerce platforms such as Facebook, Instagram, and hotel booking websites, hotels can enhance their brand visibility, engage more effectively with guests, and stimulate hotel bookings. Nonetheless, prior research reported a lack of studies in this area, namely social commerce in the context of domestic tourism. Drawing on Stimuli–Organism–Response (SOR) theory as being a well-established framework in social commerce research, this study seeks to examine the impact of social commerce on hotel booking intentions, both directly and indirectly, by considering the mediating effects of both brand image and customer engagement. This research used an online survey questionnaire as a tool for collecting primary data from domestic tourists in Egypt during the period from January to April 2024. The study sample encompassed 315 participants who were recruited using the convenience sampling technique. Using Smart PLS 4.0 software, Structural Equation Modeling was performed to examine the proposed model and hypotheses. The results highlighted the significant impact of social commerce on both hotel brand image and customer engagement, which in turn encouraged booking intentions among potential domestic guests. The results also supported the significant mediating effect of hotel brand image and customer engagement in the relationship between social commerce and hotel booking intentions. This study provides some theoretical contributions to the literature of hospitality management by addressing notable gaps in knowledge. This study also suggests some practical implications for industry executives that support their social commerce techniques and boost booking intentions and behavior among domestic tourists such as creating visually attractive content, sponsoring virtual mega events, actively interacting with social media followers, and incorporating booking functionalities in social media platforms. In so doing, hotels can boost their sustainable marketing practices to target a promising market segment by exploiting Web 2.0 capabilities.

Everything mattress, but who chairs? Circular economy implementation in the Swiss furniture industry

The implementation of Circular Economy, and namely various Circular Strategies (CSs), has been extensively researched in industries with products of both short- and long-term lifespans. However, the research on their implementation in industries with products of medium lifespans is limited, despite the significant potential for implementing CSs in these industries. This study addresses this gap by investigating CSs' implementation in the furniture industry, using the Swiss furniture industry as an example. Based on 30 qualitative semi-structured interviews with industry stakeholders, we analyze how different CSs are implemented in the industry across different market segments and what is the degree of their implementation. We find that many CSs are well established – everything matters - in the high-end market segment across different customer types, while in the low-end business-to-consumer segment they are still in their infancy – who cares. This highlights the need for policymakers to support the low-end business-to-consumer segment in implementing CSs, as well as to adopt a tailored approach that distinguishes different market segments to facilitate CSs’ implementation overall.