Effective Market Segmentation Research Articles

Pemasaran dan Peningkatan Kualitas Produk Intellimice Classifier dengan Implementasi Strategi STP (Segementasi, Targeting, Positioning)

The STAS-RG laboratory recently launched the Intellimice Classifier product, a groundbreaking innovation in biomedical and pharmaceutical research that offers advanced laboratory mouse classification technology to enhance research efficiency and accuracy. Although this product promises great potential, STAS-RG faces challenges in identifying the right market for this product. This study aims to identify optimal market opportunities by applying the STP (Segmenting, Targeting, Positioning) strategy and using qualitative methods, including in-depth interviews and field observations. The study results show that the most effective market segmentation includes healthcare institutions, particularly pharmaceutical companies, focusing on individuals aged 20-50, including students and professionals in related fields. The primary target market is pharmaceutical institutions that require efficient and accurate laboratory mouse classification tools to support their research. Intellimice Classifier is positioned as an advanced solution with competitive pricing, utilizing Sensor Computer Vision technology to meet various specific needs in genetic research, such as classifying the gender, weight, color, and size of mice. This study emphasizes the importance of a deep understanding of the market to design effective marketing strategies and tailor the product to customer needs. These findings provide valuable strategic insights for STAS-RG to formulate a more targeted and adaptive marketing approach, aiming to maximize the product's adoption and success in the ever-evolving market. This approach not only allows STAS-RG to effectively introduce the product but also to meet the specific needs of their target market.

A Case Analysis of Market Segmentation and Product Differentiation

This paper explores the symbiotic relationship between market segmentation and product differentiation within the realm of marketing strategies. Market segmentation involves the subdivision of a market into distinct sub-markets, delineated by variations in consumer needs, behaviors, and preferences. Conversely, product differentiation entails the creation of unique products or services tailored to meet the specific demands of consumers within these segmented markets. By examining the interplay between these concepts, this paper elucidates how market segmentation serves as a foundational framework for achieving product differentiation. Through a comprehensive analysis of theoretical frameworks and empirical studies, the paper underscores the strategic significance of aligning market segmentation with product differentiation to enhance consumer satisfaction and competitive advantage. Ultimately, this study provides valuable insights into leveraging market segmentation as a strategic tool for effective product differentiation, thereby fostering sustainable growth and success for firms in dynamic market environments. Practical implications and managerial recommendations will be offered to assist marketers in implementing effective market segmentation strategies to drive successful product differentiation initiatives and gain a competitive edge in the marketplace.

Effective Market Segmentation and Targeting Approaches for Distributors of Industrial Supplies in the Cement Sector

This study investigates effective market segmentation and targeting approaches for distributors of industrial supplies in the cement sector. The analysis begins with segmenting the cement industry into distinct categories based on three primary factors: geographical location, company size, and production capacity. By examining these segments, the research aims to identify and understand the specific needs, preferences, and purchasing behaviors of various customer groups within the cement sector. Tailoring marketing strategies to address these unique characteristics is crucial for enhancing customer engagement and satisfaction. The study also emphasizes the importance of evaluating the success of current segmentation and targeting efforts. This evaluation is conducted using key performance indicators (KPIs) such as sales growth, customer acquisition, and retention rates. These KPIs provide measurable insights into the effectiveness of the implemented strategies. Through this comprehensive analysis, the research aims to provide actionable recommendations for distributors, enabling them to refine their marketing approaches. By aligning marketing efforts with the distinct characteristics of different market segments, distributors can achieve improved market penetration, customer loyalty, and overall business performance in the cement sector.

Effective Market Segmentation and Targeting Approaches for Distributors of Industrial Supplies in the Cement Sector

This study investigates effective market segmentation and targeting approaches for distributors of industrial supplies in the cement sector. The analysis begins with segmenting the cement industry into distinct categories based on three primary factors: geographical location, company size, and production capacity. By examining these segments, the research aims to identify and understand the specific needs, preferences, and purchasing behaviors of various customer groups within the cement sector. Tailoring marketing strategies to address these unique characteristics is crucial for enhancing customer engagement and satisfaction. The study also emphasizes the importance of evaluating the success of current segmentation and targeting efforts. This evaluation is conducted using key performance indicators (KPIs) such as sales growth, customer acquisition, and retention rates. These KPIs provide measurable insights into the effectiveness of the implemented strategies. Through this comprehensive analysis, the research aims to provide actionable recommendations for distributors, enabling them to refine their marketing approaches. By aligning marketing efforts with the distinct characteristics of different market segments, distributors can achieve improved market penetration, customer loyalty, and overall business performance in the cement sector.

Exploring Time-Based Characteristics of the E-Car Market for Effective Market Segmentation

In recent years, the electric car (e-car) market has seen noticeable growth attributed to technological advancements and new research offering multiple innovation possibilities for businesses, which should effectively bring new technologies to market, create added value for customers, and capture value for manufacturers. Leveraging data-driven methods and analytics within the e-car market is instrumental in guiding decision-making processes and facilitating the development of new value propositions and services. This study aims to provide insights into the evolution of e-car features, identify potential market segments, and support data-driven decision-making in business and marketing research. Our analysis focuses on e-car data from 2010–2023, utilizing data-driven techniques such as principal component analysis, clustering, trend analysis, and enrichment analysis. The trend analysis considers the series start year of e-car models and their corresponding summarized features as principal components and examines changes over time. Hierarchical cluster analysis then allows us to identify distinct segments in the e-car market, while enrichment analysis with respect to the series start year and brand helps us understand the latest innovations in different segments. Our analysis reveals a potential trend in the e-car market, suggesting a shift towards medium-and medium-large-sized cars that offer improved range, speed, and lower energy consumption. Additionally, the identified six clusters as the latest segments, which, in conjunction with the trend analysis, present opportunities for optimizing product development and identifying new market spaces. Managers can utilize the findings of this study to explore future market opportunities.

선택 기반 컨조인트 분석을 통한 감귤 선호도 조사

Conjoint analysis is a method that predicts the consumer choice by estimating the utility of product's attributes. This study aims to investigate how citrus products can be optimized based on consumer preferences through a choice-based conjoint analysis method. Citrus is one of Jeju's main fruit and play an important part in the Jeju agricultural market. This study seeks to identify the atrribute of citrus that influence consumer choice. In this study, we conduct a choice-based conjoint analysis on four attributes of citrus, including weight, size, price, and packaging. The analysis model is the part-worth function model and the vector model. The part-worth function model estimated the utility of attribute level and the relative importance of the attributes. The vector model estimated the willingness-to-pay price, and then estimated latent class analysis. As a result, weight, size, and price had a great influence on consumer choice among the four attributes, while packaging had a relatively small influence. This study provides valuable insight to explores the optimal combination of citrus attributes preferred by consumers. The optimal combination increase the competitiveness of citrus in the market. And it provide guide to build effective product development strategies and market segmentation strategies for Jeju farmers and agricultural entrepreneurs.

The Effectiveness of Facebook Social Media Marketing in Photography Services Businesses (Study on Arie Photo Studio Wates' Facebook Account)

The research aims to determine the effectiveness of Facebook social media marketing in the wedding and pre-wedding event photography services business which is very interesting for consumers to pay attention to. This research method is descriptive qualitative research. The results of research using Facebook social media are very influential and effective because Facebook has features that support promotional activities, especially in the field of photography. With the existence of social media, it is easier for a business to be run to reach the wider community, Facebook social media is also very helpful in determining effective market segmentation in determining customers who need photographer services. There are obstacles for Arie Photo Studio in carrying out promotions on Facebook accounts that still have followers. It's still a bit difficult for photos uploaded by Arie Photo Studio to reach a wider community of Facebook users.

Global Marketing: Emerging Market Economies' Challenges, Opportunities and Effective Marketing Strategy for Success

The paper's purpose has been to conduct a rigorous literature review and analyze emerging market economies' competitive marketing environment. First, the article presents the theoretical foundation that underpins global firms' decisions to expand in emerging markets. Second, the paper thoroughly reviews the academic literature on emerging market research. Third, the unique characteristics of emerging markets are analyzed. Fourth, the article explores the influence of culture on consumer behavior, decision processes, and global branding in emerging markets. The paper outlines effective market segmentation and marketing mix strategies in emerging markets. The article ends with significant research findings, marketing implications, and recommendations for global corporations and their marketing managers.

A New Big Data Processing Framework for the Online Roadshow

The Online Roadshow, a new type of web application, is a digital marketing approach that aims to maximize contactless business engagement. It leverages web computing to conduct interactive game sessions via the internet. As a result, massive amounts of personal data are generated during the engagement process between the audience and the Online Roadshow (e.g., gameplay data and clickstream information). The high volume of data collected is valuable for more effective market segmentation in strategic business planning through data-driven processes such as web personalization and trend evaluation. However, the data storage and processing techniques used in conventional data analytic approaches are typically overloaded in such a computing environment. Hence, this paper proposed a new big data processing framework to improve the processing, handling, and storing of these large amounts of data. The proposed framework aims to provide a better dual-mode solution for processing the generated data for the Online Roadshow engagement process in both historical and real-time scenarios. Multiple functional modules, such as the Application Controller, the Message Broker, the Data Processing Module, and the Data Storage Module, were reformulated to provide a more efficient solution that matches the new needs of the Online Roadshow data analytics procedures. Some tests were conducted to compare the performance of the proposed frameworks against existing similar frameworks and verify the performance of the proposed framework in fulfilling the data processing requirements of the Online Roadshow. The experimental results evidenced multiple advantages of the proposed framework for Online Roadshow compared to similar existing big data processing frameworks.

Research on the Impact of Social Media Platforms on the Market Segmentation of Beauty Products and Optimization of Positioning Strategies

Currently, China has become the world’s second-largest consumer market for cosmetics. The number of licensed cosmetic manufacturers nationwide is more than 5,400, with more than 87,000 cosmetic registration and records subjects of all kinds and nearly 1.6 million products effectively documented. Although domestic brands are on the rise, on the whole, it is still some international brands that occupy the largest share of the domestic cosmetic consumption market. The development of social media, especially social platforms such as RED, where beauty products are the main domain, provides a more efficient data collection platform for domestic beauty brands to penetrate deeper into the market. This paper conducts effective market segmentation in more comprehensive dimensions and develops differentiated positioning strategies. Taking the foundation market as an example, this paper uses RED as the main platform for data mining to provide a reference for the process and ideas for companies to use social media platforms for market segmentation. From the analysis results, the data from social media platforms go beyond the traditional method of market analysis by collecting demographic, geographic data, and so on, by directly segmenting according to consumers’ actively expressed demands, thus making the basis of market segmentation more accurate and refined. Furthermore, the social media platform can show the competition situation of each segmented market. The analysis of competitors’ related data provides a more accurate basis for market assessment and, ultimately, precise positioning.

Формування маркетингової стратегії промислового підприємства в умовах кризи

The article is devoted to the problem of forming a marketing strategy for an industrial enterprise in a crisis. Crisis phenomena in the marketing environment surrounding industrial enterprises occur regularly, so they should be treated not as a catastrophe, but as ordinary problems that need to be solved in a working order. The article systematizes the main classification features in the development of anti-crisis strategies, studies the types of marketing strategies of an enterprise in a crisis, classifies marketing strategies at different stages of anti-crisis management with predictable results, recommends marketing algorithms for selecting anti-crisis actions that will help minimize the crisis impact on the activities of an industrial enterprise when choosing strategies. An enterprise operating in the industrial market must be prepared for various kinds of problems, diagnose them at an early stage, and have a full set of strategies to solve them. Marketing strategies are algorithms of actions that will allow an industrial enterprise to either avoid the impact of crisis phenomena or minimize their impact on the enterprise. Anti-crisis strategies can change as a result of changes in the micro and macro environment and can be formed at different stages, in particular, when searching for new needs that the enterprise can meet, systematic marketing research, effective market segmentation, target market selection, positioning, using changes in product policy, pricing policy, communication policy and distribution policy. All this will allow the industrial enterprise to develop and implement the necessary marketing strategy at the right time, which will minimize the impact of crisis phenomena on the activities of the industrial enterprise, or even ignore them. This work should be started in advance, having prepared the necessary strategies, without waiting for the crisis to make itself felt. The paper proposes the main step-by-step algorithms for actions of an industrial enterprise in crisis conditions, starting with the search for needs that can be met by the enterprise and ending with the work with the elements of the marketing complex, and considers the main types of strategies that can be used depending on various kinds of threats.

Analisis Swot: Faktor Internal Dan Eksternal Pada Pengembangan Usaha Sayuran Hidroponik Di Kota Banda Aceh

The purpose of this research is to identify internal and external factors that influence the development of red sugar cane business. This study uses the method of evaluation of internal factors (IFE) and evaluation of external factors (EFE). Internal factor analysis is carried out to identify the company's internal strengths that can be used and anticipated weaknesses. External factor analysis is conducted to identify opportunities that can be exploited and threats that can be avoided. Based on the results of processing the IFE matrix, the total score generated is 3.58. While the total score for processing the EFE matrix is 3.14. Both scores are above 2.5 which means the internal position is quite strong. So that the company has an above average ability to take advantage of strengths and opportunities to anticipate weaknesses and threats. Its main strength lies in the location of the gardens that are close to consumers. While the weakness of the hydroponic vegetable business in Banda Aceh City is the lack of available exhibitions. The biggest opportunity is effective market segmentation. The threat faced is the increase in the price of raw materials.

Consumers' willingness to share digital footprints on social media: the role of affective trust

PurposeDespite consumers' widespread use of social media platforms, there is scant research on the underlying factors that influence their willingness to share digital footprints on social media. The purpose of this study is to address this research gap by examining consumers' cognitive and affective attitudes simultaneously.Design/methodology/approachThis research used quantitative method by using online survey administered to a sample of 733 social media users.FindingsThe findings indicate both cognitive and affective attitudes jointly influence consumers' behavioural intentions with trust as a key construct mediating the relationship between attitudinal antecedents and consumers' willingness to share digital footprints on social media.Research limitations/implicationsThis study contributes to the information systems (IS) literature by offering a comprehensive framework constituting the joint attitudinal components as antecedents to consumers' behavioural intention for sharing digital footprints while trust works as a mediator.Practical implicationsThis paper has important managerial implications. It helps marketers and IS managers in profiling consumers, understanding consumption patterns, sharing of digital footprints, which are useful for effective market segmentation, product development and future design of social media platforms. It informs social media providers of the importance of not only focussing on functional aspects but also underscores the essence of paying attention to consumers' affect towards social media platforms, especially trust.Originality/valueThe paper presents an original framework that explains the influence of joint attitudinal components on behavioural intention, with trust as a mediator.

Sustainability in Open Distance Learning (ODL): Adoption of Market Segmentation and Advertising Strategy

The purpose of this paper is to examine the prospective learner’s perception of effective market segmentation and advertising messages for open distance learning (ODL) advertisements. A descriptive study was conducted to assess the perceptions of prospective ODL learners in Malaysia. Selfadministered questionnaires were used to obtain meaningful data from 314respondents. The study was conducted from January to March, 2021. Based on the analysis, accessibility between the ODL institution and its market segments was viewed by the majority of the respondents as more important than substantiality. Furthermore, the respondents agreed that reminders and persuasive messages are significant in attracting audience attention to an ODL institution. The standardised path coefficients have shown that accessibility, reminders and persuasive messages are significant predictors of the sustainability of ODL institutions, whereas substantiality was perceived by the respondents as being insignificant. The results from this study will help ODL institutions be more focused when designing their advertising messages, and will deepen their understanding of market needs. These findings have strong implications for academic ODL institutions, particularly in the aspect of institutional sustainability based on effective market segmentation and the right strategy of advertising messages.

Does Competition Increase or Decrease Price Dispersion? Insights from One‐Way vs. Round‐Trip Airfares*

AbstractDoes competition increase or decrease price dispersion? Our study addresses this long‐standing debate by presenting an intriguing empirical puzzle. Specifically, leveraging an extended panel from the U.S. airline industry between 1993 and 2013, we find that competition intensity and price dispersion are positively correlated for one‐way tickets but negatively correlated for round‐trip products. We posit that the recent growth in one‐way ticket sales may have led airlines to adjust their pricing strategies to allow for more effective market segmentation. Our study contributes to the empirical literature on price dispersion across multiple goods and helps inform antitrust policy on product bundling.

Understanding adventure tourists' profile: A case study from Himachal Pradesh (India)

Adventure tourism is one of the rapidly growing segments in the global tourism industry. Growth potential of adventure tourism has been realised in India and tourism organizations are making consistent efforts to tap various opportunities evolving in this segment. Tourism organizations are continuously seeking to get better insights into the profiles of adventure tourists to formulate and execute strategies in an efficient and effective manner. This study aims to provide better insight into the profile of adventure tourists. Primary data for this study have been collected from 235 adventure tour participants and 230 adventure training participants through multi-stage sampling from the Indian state of Himachal Pradesh. Reported results of different dimensions of adventure tourists' profiles offer better insights for various tourism organizations. Results will help tourism organizations in effective market segmentation, market targeting and positioning related decisions.

Is bigger better? How the scale effect influences green purchase intention: The case of washing machine

To stimulate purchase of green products, retailers and marketers need to know how to effectively present benefits of green products, specifically by numerical information. Accordingly, the current study provides useful insights on how to use numerical scale to influence consumer perceptions and green purchase intention. Data from a survey of 302 consumers show that green benefits expressed with an expanded scale (versus a contracted scale) increase perceived value of green products, producing in turn an increase in green purchase intention. Furthermore, low skepticism consumers perceive more value from benefits expressed in an expanded scale, but high skepticism consumers are less likely to be influenced by framing of the numerical scale due to heightened involvement. Significant moderation of consumer skepticism reveals its tempering effect on numerosity heuristic thinking in favor of the central processing route. These findings advance knowledge in the fields of numerosity heuristic, consumer decision and green consumption and provide managerial implications for retailers to formulate effective market segmentation strategies and enhance persuasiveness of numerical information to promote green purchase behavior.

The role of socio-psychological and personality antecedents in luxury consumption: a meta-analytic review

PurposeThis paper conducts a meta-analytic review of literature focused on the salient socio-psychological and personality antecedents of luxury purchase intention. It investigates the role of moderators that can assist an effective market segmentation of the luxury market in both emerging and developed economies.Design/methodology/approachThe final analysis includes 95 effect sizes from 42 studies conducted in 15 countries, spanning 5 continents, from 2000 to 2020. The review examined moderating role of Hofstede's cultural dimensions, market type (emerging vs developed) and other study characteristics.FindingsFindings show that socio-psychological antecedents had a more salient role than personality antecedents in driving luxury purchase intention (LPI), across both emerging and developed markets. Normative influence, status consumption and materialism exhibited a stronger influence on LPI in emerging markets than developed markets. Further, stronger effects for normative influence and status consumption on LPI were found in high power distance cultures. The role of seeking uniqueness was more salient and the role of normative influence was less salient in studies with a higher percentage of females. Conspicuous consumption was a stronger driver of LPI for fashion luxury products than other luxury products. The study also proposes distinct definitions of status and conspicuous consumption as there is often theoretical overlap of these constructs in literature.Research limitations/implicationsA meta-analytic review may leave blind-spots due to lack of sufficient number of studies investigating certain theoretically relevant moderators. The authors discuss these gaps, along with study limitations.Originality/valueTo the best of the authors’ knowledge, no previous study has conducted a meta-analytic review of the antecedents and moderators of LPI. With the extension of luxury demand beyond the developed countries in the West to the “new rich” consumers in the East, it becomes imperative to conduct a meta-analysis for a richer understanding of the drivers of luxury demand across different cultural orientations and market segmentations.

Effective Market Segmentation for Open Distance Learning Institutions’ Marketing Strategy

This study aims to examine prospective learners’ perceptions toward effective market segmentation strategies for Open Distance Learning (ODL) advertisements. A descriptive study was conducted to assess preferences based on the generational cohort. Self-administered questionnaires were used to obtain meaningful data from 282 potential learners in Malaysia. The potential learners were working adults based on generational cohorts, namely, Gen Z, Gen Y, Gen X and Baby Boomers. The study was conducted from October to December 2020. Based on the analysis, Substantiality and Accessibility between ODL institutions and the market were viewed by the majority of the respondents as more effective than Responsiveness and Identifiability. However, the standardised path coefficient shows that all variables are significant predictors of the effective market segmentation. Therefore, it is noteworthy to develop creative marketing strategies to attract the attention of a wider audience. The insights obtained can potentially assist ODL institutions to better understand the characteristics of effective market segmentation. The study adds to the existing marketing literature and has strong implications in both academic and ODL institutions, particularly regarding the aspect of prospective learners’ opinions pertaining to effective market segmentation.

Does International Travel Frequency Affect COVID-19 Biosecurity Behavior in the United States?

High-quality biosecurity practices are critical to restarting international tourism. Effective market segmentation improves the communication and efficacy of health advice. Travel frequency is an important basis for health-related consumer segmentation, as it is closely related to risk of greater exposure to infectious diseases. Theoretically grounded studies of tourist biosecurity behavior and travel frequency have largely been neglected, although insights into practices and attitudes are especially relevant for coronavirus disease of 2019 (COVID-19 (coronavirus disease of 2019) health responses. Therefore, this research constructed and tested a conceptual model applying Value–Attitude–Behavior theory to US travelers to see whether the frequency of international travel affected tourist COVID-19 related biosecurity behavior. US respondents were drawn from a panel using a quota sampling technique according to the age and gender of American outbound tourists. An online survey was administered in September 2020. The responses (n = 395) of those who traveled internationally within five years were analyzed utilizing partial least squares-structural equation modeling (PLS-SEM) with multi-group analysis. Travel frequency significantly affects biosecurity behavior. High travel frequency (≥8 trips) has the strongest effect of value on biosecurity attitudes, personal norms, social norms, and biosecurity social norms, leading to biosecurity behaviors. Biosecurity behaviors pertaining to medium travel frequency (4–7 trips) are significantly influenced by personal norms. At low travel frequency (1–3 trips) levels, biosecurity behaviors are stimulated by biosecurity attitudes and social norms, showing the highest predictive power among the three groups. This work provides insights into international travel consumer biosecurity practices and behavior. From a market segmentation perspective, the levels of international travel frequency have various influences on biosecurity values, attitudes, personal norms, social norms, and behaviors. The biosecurity behaviors of low-frequency travelers are found to be the most significant of the three groups, suggesting that individuals who travel less frequently are more likely to practice responsible COVID-19 biosecurity behavior.