Market Segmentation Strategies Research Articles

Serving the unserved: a market segmentation, price discrimination based customer-centeric approach to home loans in india

The housing finance sector in India has witnessed remarkable growth in recent years, yet a significant portion of the population remains excluded from accessing formal home loan facilities. This master thesis report aims to address this gap by proposing a customer-centric approach to home loans, utilizing market segmentation and price discrimination strategies to serve the unserved segment of the market effectively. The study begins by identifying the need to bridge the gap in home loan accessibility and explores the reasons behind the exclusion of certain demographic groups. Through a comprehensive literature review, the report examines existing research on home loans, market segmentation, price discrimination, and customer-centric approaches in the financial services industry. The research methodology employed in this study utilizes a mixed-methods approach, combining qualitative and quantitative techniques to gather insights into the preferences, challenges, and perceptions of potential home loan borrowers. A carefully designed sampling plan ensures the representativeness and reliability of the data collected. Data analysis reveals patterns and trends within the home loan market, shedding light on the effectiveness of different segmentation and pricing strategies in reaching the unserved population. The questionnaire used for data collection is provided in the report, along with a discussion of the limitations, challenges, and barriers encountered during the research process. In conclusion, the report summarizes key findings and recommends strategies for policymakers, financial institutions, and other stakeholders to enhance inclusivity and efficiency in the home loan sector. By adopting a customer-centric approach and leveraging market segmentation and price discrimination techniques, the goal of serving the unserved can be achieved, contributing to greater financial inclusion and societal welfare.

Role of Market Segmentation and the Impact on Alibaba Company Online Business

This study investigates the influence of market segmentation on Chinese internet companies, focusing on measurability, market demand, and entry barriers. It aims to fill a gap in the existing literature by analyzing how these factors affect segmentation methods, particularly in enterprises like Alibaba. Employing a quantitative approach, the research used surveys distributed to employees and senior managers from twenty randomly selected Chinese enterprises. The survey, developed with input from literature review and expert consultation, covered various aspects including measurement methodologies, market demand, entry barriers, and market segmentation. Data analysis involved statistical techniques such as Cronbach alpha, factor loading analysis, Pearson correlation analysis, and multiple linear regression analysis. Results indicated that market demand significantly influences segmentation strategies and decision-making, emphasizing the importance of understanding consumer preferences. Entry barriers were found to shape market segments and strategies, underscoring the need for firms to align their strategies with market demands to deliver tailored products. The study sheds light on the complexities of China's market dynamics and entry barriers, emphasizing the strategic importance of addressing these challenges and the impact of market demand on segmentation. These findings offer practical insights for navigating the Chinese market and contribute to academic understanding of the relationship between market segmentation, consumer behavior, and business strategy in Chinese online companies.

Profiling consumers’ online shopping and following social media influencers behaviors

In order to develop effective digital marketing strategies, this study explores how demographic factors may affect consumers’ online shopping and following social media influencers behaviors. Market segmentation theory and consumer demographics theory provide the theoretical foundation for this study. By analyzing survey data collected from 6,034 U.S. adults with decision tree analysis, there are a number of significant findings. First, educational level, income, and age category are the important predictors for consumers’ buying things online using a desktop or laptop computer behavior. Second, age category, geographic location (urban, suburban, rural) are the predictors for consumers’ buying things online using a smartphone behavior. Third, educational level, age, and geographic location are the predictors for consumers’ preferring online shopping over in-store shopping behavior. Fourth, age category and race-ethnicity are the predictors for following social media influencers behavior. Fifth, gender and age category are the predictors for purchasing something after seeing an influencer’s posts behavior. Finally, age category and gender are the predictors for purchase decisions getting impacted by influencers. The results provide valuable insights about consumer behaviors online, market segmentation, and influencer marketing strategies.

Marketing Strategy of NOVA Employment

This paper targets identifying challenges faced by the Australian non-profit organization NOVA in providing more suitable job opportunities for disabilities, focusing on communication barriers between NOVA and decision-makers in Small and Medium Enterprises (SMEs). It discusses how NOVA improve its competitiveness by providing unique services through market segmentation, targeting, differentiation, and positioning (STDP) strategies. This paper also emphasizes the current situation for disabilities of finding jobs and explores leveraging LinkedIn to achieve SMART goals, including showcasing services, expanding networks, and using LinkedIn tools to attract target audience.

Religiosity-based behavioral study, Islamic finance users’ approach and selection standard: empirical evidence from Pakistan

Purpose Considering the speedy growth of Islamic finance and limited research work on Muslim behavior regarding Islamic Banking, this study aims to investigate to comprehend the stimulus of religiosity on customer’s behavior. Design/methodology/approach A conceptual model is developed on existing literature. The key dimensions of religiosity in the model include practice, knowledge, experience and consequences to capture the whole religiosity of customers. Model of the study investigates the impact of customer’s religiosity on their behavior in decision-making about selection of Islamic bank. Analysis of the study is based on the sample of 370 customers of Islamic banks from District Nowshera Khyber Pakhtunkhwa, Pakistan. The data for the study collected through random sampling by a comprehensive survey questionnaire. Binary logistic model is used to test the data for statistical analysis. Findings The key findings of the study suggest that religiosity influence customer behavior positively in decision-making regarding Islamic finance. Service standards of Islamic banking has also significant impact on customer perception, while the financial education of the customers has insignificant impact on customer behavior. Research limitations/implications This study mainly focused on the curiosity of the customer religious commitment, so religiosity is a vast phenomenon; there are deep sections in each dimension of religiosity, so further study is suggested for the comprehensive capture of each dimension of religiosity. Practical implications The results of the study have a great importance for the managers of Islamic finance industry to identify and detect the potential customers and divide the target market of banking industry on the base of religiosity. Furthermore, the study may bring significant managerial suggestions for marketing planners and can help them in market segmentation strategies. Originality/value The study examined the association between Muslim religiosity and Islamic banking customer’s selection behavior. This study spread the understanding of religiosity and its impact on Islamic banking customer’s behavior. Furthermore, the study is valuable to discover the level to which religiosity determines the inclinations of customers. This study helps marketing practitioners and researchers to grow their knowledge about customer’s motives in terms of religious commitment.

The Influence of Digital Technology on Marketing Strategy

The alignment of Artificial Intelligence (AI) Technology in marketing has revolutionized market segmentation and marketing strategies. This paper examines the factors that influence the relationship between the use of AI in market segmentation and marketing strategy, including data and resource availability, organizational readiness and corporate culture, and legal and ethical considerations. Through a comprehensive literature review and analysis, this study identifies key hypotheses and discusses their implications for future research and practice. Despite challenges such as privacy concerns and ethical dilemmas, the integration of AI in marketing provides significant opportunities for enhanced customer experiences and better business performance.

Solo traveler typology based on personal value: Incorporating cluster analysis into means-end chain

In recent years, the number of solo travelers has been steadily increasing, attracting more attention from the tourism market. However, both the tourism industry and academia have limited understanding of this group. This paper aims to delve into the decision-making process of solo travelers and establish a typology of solo travelers based on personal values. This research combines cluster analysis with means-end chain analysis to categorize solo travelers into four types: pleasure-seeking solo travelers, social solo travelers, exploratory solo travelers, and escape-oriented solo travelers. Each type of solo traveler emphasizes different attributes, consequences, and values in their solo travel experiences, and they also hold different views and attitudes towards solo travel phenomenon. By synthesizing the opinions of different types of solo travelers, this research reveals the key characteristics of solo travel, namely, “departing alone” and “enjoying one's own company.” These findings may provide insights for market segmentation and marketing strategies in the solo travel industry.

커피 소비동기가 커피 소비의도 및 행동의도에 미치는 영향

This study examined the effect of coffee consumption motivation on coffee consumption intention and behavioral intention focusing on coffee shops and home cafes. The analysis results are as follows. First, well-being motivation, social motivation, and emotional motivation had a significant effect on mental health consumption intention. Second, all coffee consumption motivations had a significant effect on addictive consumption intention. Third, effective motivation had a significant effect on consumption intention to overcome side effects. Fourth, social motivation had a significant effect on socio-psychological consumption intention. Fifth, mental health consumption intention and social psychological consumption intention had a significant effect on behavioral intention at coffee shops. Sixth, mental health consumption intention had a significant effect on home cafe behavioral intention. Seventh, effective motivation, social motivation, and emotional motivation had a significant effect on behavioral intention at coffee shops. Eighth, effective motivation, well-being motivation, and emotional motivation had a significant effect on home cafe behavioral intention. This study aims to provide basic data for market segmentation strategies by predicting the behavioral intentions of coffee shop and home cafe consumers by understanding the consumption motivation and consumption intention of coffee consumers.

Dissecting the visiting willingness of driving visitors facing a retail market's dual-pricing policy for parking

This study explores the significant elements in driving visitors’ mind while their willingness to visit (WTV) is formed and affected by the dual-pricing policy announced by a retail market. The aim is to investigate the upper (maximally durable) and lower (minimally suggestible) bounds of the hourly parking fee rate (p) and the minimum spending in the marketplace required to receive an hour of free parking (s). Additionally, the perceived importance of p in relation to s (represented by z*) is examined, as both p and s have a “cost price” to visitors who drive and can impact their WTV. The proposed hybrid approach incorporates popular methods such as revealed/stated-preference survey, complete case study, multiple linear regression, simultaneous equation system, and several approaches for model verification. A truth-lossless questionnaire design is implemented to augment the sample, and several interesting findings are obtained from a shopping center empirically based on the survey results, e.g., z* has an approximate ratio of 4:1 in the cultural area investigated. Further insights and implications are justified in terms of transportation pricing, operations management, and consumer psychology. For instance, several market-segmentation strategies are suggested for managing certain consumer groups using either pricing measure or both, and the accurate parameters investigated, estimated or inferred also allow establishing a grounded WTV function for decision-making. These ensure the delivery of satisfactory and profitable parking services for the retail industry.

Exploring Consumer Preferences for Locally Produced Wine in the Tanzanian Market: Evidence from Wine Consumers in Dodoma City

In most grape-producing countries, the local wine industry faces intense competition due to the introduction of new foreign wines into the local market and changes in wine consumption and consumer preferences for wines. The same has been observed in the Tanzanian wine industry. The study aims to explore the dynamics of consumer preferences toward locally-produced wine. Data were collected from 200 respondents in Dodoma town through snowball and convenience sampling. Qualitative and quantitative types of data were used. Primary data were collected in the field using field observations, a key informant interview checklist, and structured questionnaires using KoBoToolbox. Secondary data were collected by reviewing different published and unpublished materials, such as reviews and reports regarding consumer preferences for local wine. The research revealed that most consumers consider color, taste, income, brand, and price attributes when selecting wines. Furthermore, the study observed that age, income, marital status, price, wine color, packaging and taste significantly influenced consumers' preference for purchasing locally produced wines compared to other factors included in the model. However, attributes such as geographical origin, vintage and grape variety were not considered in the selection of the wines. The study recommends that local wine producers consider consumers' preferred attributes to increase sales. Local marketers and brand managers should also formulate and employ several positioning, market segmentation and targeting strategies that can help them compete effectively with imported wines.

Marketing Communication Strategy in Maintaining Customer Loyalty

Civil Minimarket Marketing Communication Strategy in Maintaining Customer Loyalty” focuses on how the Madani Minimarket marketing communication strategy maintains customer loyalty. To find out how the marketing strategy is: Market segmentation strategy, product strategy, pricing strategy. Meanwhile, to know marketing communication strategies, namely: advertising, sales promotion and publicity. The research method used by the author in this study is a type of qualitative research. Data collection techniques used in this study were library research and field studies, namely field observations and in-depth interviews. The selection of informants was carried out through an observation process. Based on the research results, it was obtained an illustration that the marketing strategy used by Madani was market, product and price segmentation. while the communication strategy used is advertising, sales promotion and publicity by using online and offline media. Online, namely social media and offline, namely banners, pamphlets and the like to share information about products and price discounts.

MARKETING COMMUNICATION STRATEGIES IN MAINTAINING CUSTOMER LOYALTY

Civil Minimarket Marketing Communication Strategy in Maintaining Customer Loyalty” focuses on how the Madani Minimarket marketing communication strategy maintains customer loyalty. To find out how the marketing strategy is: Market segmentation strategy, product strategy, pricing strategy. Meanwhile, to know marketing communication strategies, namely: advertising, sales promotion and publicity. The research method used by the author in this study is a type of qualitative research. Data collection techniques used in this study were library research and field studies, namely field observations and in-depth interviews. The selection of informants was carried out through an observation process. Based on the research results, it was obtained an illustration that the marketing strategy used by Madani was market, product and price segmentation. while the communication strategy used is advertising, sales promotion and publicity by using online and offline media. Online, namely social media and offline, namely banners, pamphlets and the like to share information about products and price discounts.

DARK PATTERNS AND PEDAGOGY: EXPANDING SCHOLARSHIP AND CURRICULUM ON MANIPULATIVE MARKETING PRACTICES

This conference paper addresses gaps in scholarship and pedagogy surrounding the phenomenon of “dark patterns” in digital marketing and interface design by showcasing three curriculum-building projects. Dark patterns refer to a set of design strategies that co-opt the human-centred values advocated for in the fields of user experience (UX) design and human-computer interaction (HCI) to manipulate users into taking actions contrary to their personal interests. Recent dark patterns research has clustered within the fields of HCI, media studies, and game studies, with a focus on e-commerce and online gambling platforms. The presented projects put this established research into conversation with scholarship from business and marketing, science and technology studies, cognitive neuroscience, and disability studies to both create a more holistic definition of dark patterns and implement this expanded definition into university course curricula. These include $2 , focused on contextualizing dark patterns within historical market segmentation and merchandising strategies; $2 , on broadening the definition of dark patterns to include non-screen interfaces; and $2 , on analyzing how dark patterns have a disproportionate effect on individuals with certain cognitive disabilities. Collectively, these projects aimed to grant a greater historicity and social context to the phenomenon of dark patterns and introduce them as a utilizable pedagogical concept within the disciplines of communications, technology, and design. The findings of these projects are presented through the sharing of pedagogical materials, informal and formal feedback, and planned curriculum revisions.

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.

Analysis of Market Segmentation and Targeting on Market Growth Mediated by Marketing Ability on Android Products in Banten

This research delves into the Android product market in Banten, aiming to analyze the interplay between market segmentation, targeting strategies, marketing ability, and market growth. A sample of 287 participants provided insights into demographic characteristics, technology adoption patterns, and income levels. Employing Structural Equation Modeling with Partial Least Squares (PLS-4), the study revealed significant direct effects of market segmentation and targeting strategies on market growth. Marketing ability emerged as a crucial mediator, indicating its pivotal role in translating segmentation and targeting efforts into tangible market outcomes. The model demonstrated a strong fit, supported by high goodness-of-fit and normed fit indices. R² and Q² metrics underscored the model's explanatory power and predictive relevance for market growth. The findings offer actionable insights for businesses, emphasizing the importance of tailored strategies and the enhancement of marketing capabilities for sustained market growth.

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.

Experiences in a wine tourism destination from the visitors’ perspective

PurposeThe objective of this study is to analyze the experiences in wine tourism according to narratives shared by the visitors themselves. Furthermore, this study aims to examine the levels of intensity associated with these experiences within a wine destination, considering the segmentation of visitors.Design/methodology/approachThis study uses a mixed-methods approach to analyze data, incorporating a deductive process followed by content analysis. Data collection procedures include a bibliographic review and a data survey conducted through netnography research to analyze 954 visitor reviews on TripAdvisor shared by visitors to Vale dos Vinhedos. Also, statistical analysis is performed to assess whether there are any significant variations in attribute citations among different market segmentation profiles.FindingsThe study’s discoveries indicate that there are no significant differences in intensity among profile segments for the dimensions of entertainment, aesthetics, educational and interactions, unlike escapism. The findings reveal that attributes such as “winery,” “wine,” “products and services” and “landscape” are essential for all visitors. In addition, the study shows that social interactions in the wine tourism destination are not as significant as previously assumed.Originality/valueThis research study constitutes a methodological advancement in the field of market segmentation using electronic word-of-mouth data. It provides crucial insights into the experiential nuances of the research locus and the varying degrees of these experiences in relation to visitor segmentation. Additionally, the contributions of this study are not only of theoretical importance but also hold practical implications for market segmentation strategies.

Conservatives endorse Fintech? Individual regulatory focus attenuates the algorithm aversion effects in automated wealth management

Algorithm aversion, which is a widely observed phenomenon, suggests that customers prefer human advisors over robo-advisors in automated wealth management. Studies have shown that prevention-focused (vs. promotion-focused) customers refuse high-tech products; therefore, algorithm aversion should be more pronounced among them. However, our findings challenge this notion. Drawing on the regulatory focus theory, through four studies, we discovered that (1) customers' mindset was relatively more prevention-focused when using robo-advisors and relatively more promotion-focused when using human advisors; (2) perceived flexibility mediated this effect; and (3) the algorithm aversion effects existed in automated wealth management, but vanished among prevention-focused customers because of the fit effects. Our findings identified a psychological boundary condition of algorithm aversion, provided a novel antecedent variable of regulatory focus, and provided managerial implications for robo-advisory firms’ market segmentation strategies.

Understanding post-pandemic market segmentation through perceived risk, behavioural intention, and emotional wellbeing of consumers

The COVID-19 pandemic has altered consumer behaviour, leading to varying levels of perceived risk for different products and services. Companies must reassess their market segmentation strategies and adapt them to take effective countermeasures to improve employee performance and achieve the desired results. Research on post-pandemic segmentation is lacking. Thus, this study aims to create consumer archetypes based on perceived risk and examine how they affect behaviour and emotions post-pandemic. Based on 1,140 survey responses from Taiwanese consumers, consumer segments are classified into three archetypes: Moderate, Aggressive, and Hesitant. The Hesitant group mainly comprised senior women who faced high physical and psychological risks. In contrast, the moderate archetype group had the lowest levels of perceived risk but showed less interest in shopping activities and personal hygiene than the other two groups. Aggressive shoppers prioritise quality and convenience, with fluctuating emotions during shopping, despite moderate concerns about the virus.

Marketing plan: household products cleaning company, in Villahermosa Tabasco

Aim: To analyze the different variables that affect the development of the household cleaning products company, in order to obtain the positioning in relation to the other competitors, to achieve a 30% market share and to move to the growth stage to achieve profits. Methodology used: SWOT analysis, considering the marketing variables (product, price, advertising, location), for the design of the model of the current situation of the company, obtaining an overall diagnosis and objective identification of the guidelines to be followed, generating market segmentation strategies that will achieve the main objective of the household cleaning products company in Villahermosa, Tabasco. Contribute: Identified opportunities for strategic alliances, including service providers and a significant number of potential customers, overworked population needing cleaning assistance, companies identified as competitors lacking adequate technology and unprofessional service.