Market Segmentation Research Articles

The Use of Islamic Attribute in Food Product Marketing: Expert Views

The vast number of Muslim consumers in Malaysia, which accounts for 63.5% of the total Malaysian population, offers a vast market segment to food producers—the food producers employ various marketing strategies to compete in the market. Among the strategies employed is the use of Islamic attributes in marketing activities. Food product marketers used Islamic attributes such as Muslim names, pictures, emblems, Quranic verses, and Hadith in their marketing campaigns. The free use of the Islamic attributes has drawn attention to knowing the Islamic perspective of the use. Through in-depth interviews, this research paper aimed to reveal the views of 7 Shariah experts in a rich and contextualized account of using Islamic attributes in food product marketing. The experts were selected through purposive and snowball sampling methods. Thematic analysis was used to analyze the data, which resulted in the emergence of six themes in this study. These themes include (1) protection of Islamic honor and dignity, (2) prohibition of using Islam for personal gain, (3) prohibition of unjust practices, (4) prohibition of superstitious or syirik acts, (5) promotion of good business practices, and (6) promotion of a healthy diet, revealing the Islamic perspective on its use. This study contributes knowledge to Islamic marketing and the rulings on using Islamic attributes according to the Shariah principle. This research sheds light on the ethical implications of using Islamic attributes in scholarly and marketing domains. Further, this research explores the triangulation method of data analysis and validity via Shariah and socio-research.

Impact of Artificial Intelligence on Marketing strategies with reference to MNCs

Artificial intelligence (AI) is rapidly transforming the marketing landscape. This literature-based study explores the diverse applications of AI in marketing functions, drawing insights from academic journals, industry reports, and marketing publications. The study examines how AI personalizes marketing efforts through targeted advertising and content marketing, while also investigating its role in customer relationship management (CRM). It delves deeper into AI's influence on market research and marketing ROI (Return on Investment) optimization. By analyzing these applications, the study aims to provide a comprehensive understanding of how AI is shaping the future of marketing. Keywords: Artificial intelligence (AI), machine learning, customer segmentation, targeted advertising, content personalization, CRM, market research, marketing ROI, chatbots, recommendation engines, customer churn prediction.

An ecological inference approach to the origins of proportional representation

Facing a prospective majority of socialists during the early third of the 20th century, some secular conservative and liberal parties pooled their votes to raise the majority threshold for the left, while others raised it by enacting some form of proportional representation. We use vote transfers, estimated by a new method of ecological inference, to explain those far-reaching choices. We provide a new conceptualization and measurement of the segmentation of the electoral market to test a proposition within the Boix-Rokkan framework: proportional representation reform was chosen when vote transfers foretold coalition failure. To substantiate our claim, we investigate two most similar cases, Denmark during 1910–1918 and New Zealand during 1928–1931, that diverged in the explanatory variable and in the response.

A Study of “The Impact of AI and Machine Learning in Digital Marketing”

Recent improvements in artificial intelligence (AI) and machine learning (ML) have significantly impacted a number of sectors, such as digital marketing. The influence of AI and ML on digital marketing strategies and implications for businesses are examined in this study. To do this, this paper first highlights the abilities and prospective uses of AI and ML by providing a brief description thereof. The upcoming discussion will outline how AI and ML have transformed important aspects of digital marketing such as customer segmentation, personalized targeting, content creation, customer experience optimization and any other relevant topic under study. The paper also explores the advantages as well as the disadvantages that come with incorporating AI and ML methods in digital marketing strategies. Moreover, some ethical issues coupled with possible prejudices related to using AI and ML. Using computers and robots to help perform Human tasks in the present-day era is referred to as Artificial intelligence. There are numerous everyday obligations that are easily carried out by computers and robots instead of people. For efficient use of green computer systems, Artificial intelligence makes it less complicated to carry out tasks that need human brains.

Two-Dimensional Customer Segmentation for Digital Custom Coupon Issuance Approach

With the improvement of large information and profound learning innovation, enormous information and profound learning innovation have likewise been applied to the showcasing field, which was a piece of business organization. Client agitate the board is one of the main areas of promoting. In this paper, we proposed a technique to forestall client beat and increment buy transformation rate by giving tweaked rebate coupons to clients with high stir rate in light of huge information continuously. In the wake of sectioning client portions with two-layered fragment examination, a continuous beat rate assessment model in light of clickstream information was created for each portion. From that point onward, we gave tweaked coupons to our clients. At last, we tried the transformation rate and deals development. A two-layered group investigation based stir rate assessment joined with a proposal framework was viewed as essentially more helpful than the particular straightforward models. Utilizing this proposed model, it is feasible to increment deals via consequently assessing the client's stir likelihood and shopping penchant without the weight of showcasing costs in the web based shopping center

Data Mining for Dynamic Customer Segmentation: Unraveling Insights

Effective decision-making is essential for every firm to earn high income. These days, there is intense rivalry, and every company is advancing using a unique set of techniques. We ought to make an informed choice based on evidence. Since each client is unique, we have no idea what they enjoy or what they purchase. But by using a variety of algorithms on the dataset, one may use machine learning techniques to filter through the data and identify the target group. In the absence of this, identifying a group of individuals with like interests and personalities within a sizable dataset will be exceedingly challenging and no better methods exist. The use of K-Mean clustering for customer segmentation aids in grouping data with comparable characteristics, which benefits the firm the most. We will use the elbow approach to determine the number of clusters, and then we will visualize the results.

Real Estate Insights on Mortgage Rates, Apartment Prices, and Rentals in Czech Republic

This study examines the complex dynamics of the Czech real estate market, focusing on the interaction between mortgage rates and residential property prices, the influence of dwelling size on market price trends, and the impact of regional economic disparities on property values. We find that lower mortgage rates paradoxically raise house prices through increased demand, calling into question the effectiveness of monetary policy in improving housing affordability. This counter-intuitive effect highlights the complex interplay between fiscal policy and market responses. In addition, the analysis reveals a significant shift towards smaller dwellings, increasingly favoured by single-person households, reflecting changing demographic trends. This shift has clear implications for price dynamics and market accessibility in both the sales and rental sectors, suggesting a nuanced response to consumer preferences across different market segments. In addition, the research highlights a strong correlation between regional economic vitality and property prices, underlining the profound influence of the broader economic landscape in shaping property values in different areas. By integrating these critical aspects, the study provides a comprehensive and nuanced understanding of the factors influencing the Czech property market, offering valuable insights for policy makers, property developers and investors seeking to navigate or influence this market effectively.

Life after use: circular supply chains for second-life of electric vehicle batteries

Despite the increasing interest in second-life of electric vehicle batteries, the characteristics of supply chains to support such products are yet to be developed. The purpose of this paper is to investigate the key supply chain characteristics required to effectively accommodate circular models for second-life electric vehicle batteries. Through a longitudinal case study, we map possible application areas and customer segments, necessary key activities, and potential actors that might emerge in future supply chains for these products. The findings are discussed in relation to product-oriented, use-oriented, and result-oriented circular models. The suggested circular models and their comparisons provide insights into how different supply chain dimensions are configured for different circular business models, and the advantages, disadvantages, and prerequisites associated by each model.

Halal–friendly attributes: a comparative study of different Muslim genders’ intentions to visit non–Islamic destinations

Purpose This study aims to examine how halal-friendly attributes at non-Islamic destinations affect the tourist attitude and visiting intentions of Muslim tourists of different genders from ASEAN countries. Design/methodology/approach The study used a structured survey with a non-probability, convenience sampling approach, targeting residents of Indonesia, Malaysia and Brunei. To assess the impact of halal-friendly attributes on destination image, tourist attitude and visiting intentions, a structural equation model was applied, analyzing the data across different genders. Findings The results indicate that the social environment exerts a positive influence on tourist attitudes for both males and females. In contrast, facilities have a negative impact on visiting intentions in both groups, with a more pronounced effect among males. While food and beverages positively influence the attitudes of female tourists, this effect is not observed in male tourists. Local factors and staff interactions show a strong positive impact on visiting intentions for males but only a marginal effect for females. The quality of service significantly boosts visiting intentions in both genders. Interestingly, tourist attitudes appear to have a negative effect on visiting intentions, with this trend being more evident in the female sample. Research limitations/implications The study is limited by its use of convenience sampling and self-reported data, which may not represent broader Indonesian perspectives and could introduce biases. Its focus on Indonesian perceptions and unexpected findings regarding tourist attitudes limit its generalizability and suggest unexplored factors affecting travel intentions. Originality/value This study offers new insights into how gender differences among Muslim tourists shape their intentions toward visiting non-Islamic destinations, emphasizing the role of halal-friendly attributes. These findings equip tourism operators and marketers with essential knowledge for developing inclusive, culturally sensitive practices, enhancing the travel experience for this significant segment of the global tourism market.

Strategi pengembangan usaha “Bakso Pak Wasino” dengan pendekatan business model canvas

The growth of Micro, Small, and Medium Enterprises (SMEs) in Indonesia is rapidly advancing, particularly in the food sector. Many SMEs emerge, but only a few manage to endure in the long run due to various challenges and intense competition. Bakso Pak Wasino is one such SMEs that has been operating since 1997 and continues to thrive. The owner's name is Mr. Wasino, but it has been passed down to his daughter named Sinta, or myself, for continuation and development. Currently, Bakso Pak Wasino is formulating development strategies, especially in marketing. Bakso Pak Wasino has started promoting itself on social media by creating content related to its business. Marketing through social media holds great potential to reach a broader target audience. Bakso Pak Wasino is also planning its development using the Business Model Canvas (BMC) and SWOT analysis. BMC development involves nine components, including customer segments, value propositions, channels, customer relations, revenue streams, key resources, key activities, key partners, and cost structure. Development through SWOT analysis is conducted by analyzing strengths, weaknesses, opportunities, and threats. With the use of BMC and SWOT, Bakso Pak Wasino is expected to plan its development more effectively, optimize productivity, reach a wider consumer base, and increase income generation.

The Role of Marketing Strategies in Improving the Export Potential of Grape Growing Enterprises

In the global marketplace, grape growing enterprises face increasing competition and challenges in realizing their export potential. This paper examines the pivotal role of marketing strategies in bolstering the export capabilities of grape growers. Drawing on a comprehensive review of literature and empirical evidence, this study elucidates how strategic marketing initiatives can effectively address market dynamics, consumer preferences, and regulatory requirements to propel grape products into international markets. The research underscores the significance of understanding market segmentation, consumer behavior, and emerging trends in destination markets to tailor marketing strategies adeptly. By employing a mix of traditional and digital marketing channels, grape growers can enhance brand visibility, cultivate consumer loyalty, and differentiate their offerings amidst fierce competition. Moreover, strategic alliances with distributors, retailers, and industry stakeholders facilitate market penetration and access to new export markets. Furthermore, the paper explores the role of branding, packaging, and product innovation in augmenting the perceived value of grape products, thus enabling enterprises to command premium prices and gain a competitive edge. Importantly, the study discusses the imperative of aligning marketing strategies with sustainability practices and certifications to meet evolving consumer demands for ethically sourced and environmentally responsible products. In conclusion, this paper advocates for a holistic approach to marketing that integrates market research, branding, distribution, and sustainability considerations to unlock the export potential of grape growing enterprises in a dynamic global landscape. By embracing innovative marketing strategies, grape growers can navigate challenges and capitalize on opportunities to thrive in international markets.

Labour market segmentation and the gender wage gap in Spain

PurposeThe purpose of this study is to analyse the gender wage gap (GWG) in Spain adopting a labour market segmentation approach. Once we obtain the different labour segments (or idiosyncratic labour markets), we are able to decompose the GWG into its observed and unobserved heterogeneity components.Design/methodology/approachWe use the data from the Continuous Sample of Working Lives for the year 2021 (matched employer–employee [EE] data). Contingency tables and clustering techniques are applied to employment data to identify idiosyncratic labour markets where men and/or women of different ages tend to match/associate with different sectors of activity and occupation groups. Once this “heatmap” of labour associations is known, we can analyse its hottest areas (the idiosyncratic labour markets) from the perspective of wage discrimination by gender (Oaxaca-Blinder model).FindingsIn Spain, in general, men are paid more than women, and this is not always justified by their respective attributes. Among our results, the fact stands out that women tend to move to those idiosyncratic markets (biclusters) where the GWG (in favour of men) is smaller.Research limitations/implicationsIt has not been possible to obtain remuneration data by job-placement, but an annual EE relationship is used. Future research should attempt to analyse the GWG across the wage distribution in the different idiosyncratic markets.Practical implicationsOur combination of methodologies can be adapted to other economies and variables and provides detailed information on the labour-matching process and gender wage discrimination in segmented labour markets.Social implicationsOur contribution is very important for labour market policies, trying to reduce unfair inequalities.Originality/valueThe study of the GWG from a novel labour segmentation perspective can be interesting for other researchers, institutions and policy makers.

A novel framework for analyzing the impact of COVID-19 on entrepreneurial financial firms in Jordan

PurposeCOVID-19 has rendered many firms' business models, strategies and performance vulnerable, including entrepreneurial financials. Some managed to survive, while others drowned in the epidemic swamp. This study offers an exceptional model to fill the gap.Design/methodology/approachEmploying a rigorous qualitative design, the study utilizes a novel framework that integrates institutional theory (IT) and corporate entrepreneurial strategy (CES). Semi-structured interviews were conducted, and thematic analysis identified key themes: external environment, institutional environment and organizational response, CES and performance and survival.FindingsThe study reveals the dual nature of the external and institutional environment, acting as both facilitators and barriers for entrepreneurial financial firms (EFFs). It highlights the robust CES exhibited by these firms during the pandemic, demonstrating their adept balancing and integration of different CES components in their organizational response. The EFFs employ a mix of financial and nonfinancial indicators for performance assessment, yielding varied outcomes based on contextual factors.Practical implicationsEFFs and stakeholders are guided to adapt their business models, balance institutional pressures, implement CES and evaluate performance. It advocates collaboration within the entrepreneurial finance ecosystem and leveraging opportunities emerging from the pandemic, including new market segments, technologies, innovations and regulatory changes.Originality/valueThis topic is underexplored in many emerging economies. Fresh perspectives and rigor frameworks are developed on how EFFs navigate and capitalize on the pandemic under uncertainties.

An inversion-based clustering approach for complex clusters

BackgroundThe choice of an appropriate similarity measure plays a pivotal role in the effectiveness of clustering algorithms. However, many conventional measures rely solely on feature values to evaluate the similarity between objects to be clustered. Furthermore, the assumption of feature independence, while valid in certain scenarios, does not hold true for all real-world problems. Hence, considering alternative similarity measures that account for inter-dependencies among features can enhance the effectiveness of clustering in various applications.MethodsIn this paper, we present the Inv measure, a novel similarity measure founded on the concept of inversion. The Inv measure considers the significance of features, the values of all object features, and the feature values of other objects, leading to a comprehensive and precise evaluation of similarity. To assess the performance of our proposed clustering approach that incorporates the Inv measure, we evaluate it on simulated data using the adjusted Rand index.ResultsThe simulation results strongly indicate that inversion-based clustering outperforms other methods in scenarios where clusters are complex, i.e., apparently highly overlapped. This showcases the practicality and effectiveness of the proposed approach, making it a valuable choice for applications that involve complex clusters across various domains.ConclusionsThe inversion-based clustering approach may hold significant value in the healthcare industry, offering possible benefits in tasks like hospital ranking, treatment improvement, and high-risk patient identification. In social media analysis, it may prove valuable for trend detection, sentiment analysis, and user profiling. E-commerce may be able to utilize the approach for product recommendation and customer segmentation. The manufacturing sector may benefit from improved quality control, process optimization, and predictive maintenance. Additionally, the approach may be applied to traffic management and fleet optimization in the transportation domain. Its versatility and effectiveness make it a promising solution for diverse fields, providing valuable insights and optimization opportunities for complex and dynamic data analysis tasks.

Customer Classification by Past Purchase Data Analysis

Customer categorization is an essential strategy for companies seeking to maximize their advertising spend. Businesses can boost client involvement and sales rates of conversion substantially by identifying specific customer segments, tailoring products or services to their preferences, minimizing the hassle of irrelevant advertisements, and increasing customer satisfaction, resulting in improved long-term interactions with clients. This paper presents a classification model that uses Keras and support vector machine stacked classification passed on to a meta-learner to predict the customer segment, and RFM analysis is performed to identify the customer segment. This focused strategy lowers marketing costs and boosts income, increasing the business's efficiency. Temporal mining helps us predict the next purchase of a customer using a time series model.

Harnessing artificial intelligence to develop strategic marketing goals

In today's rapidly evolving business landscape, harnessing artificial intelligence (AI) has become imperative for organizations striving to remain competitive. This concept paper explores the integration of AI in developing strategic marketing goals, aiming to provide a comprehensive framework for leveraging AI's capabilities effectively. The paper begins by outlining the current state of AI in marketing, highlighting its transformative potential across various facets such as customer segmentation, personalized targeting, predictive analytics, and automation. It underscores the necessity for businesses to embrace AI-driven approaches to stay ahead in an increasingly data-driven marketplace. Moreover, the concept paper delves into the strategic implications of AI adoption in marketing. It emphasizes the need for alignment between AI initiatives and overarching business objectives, emphasizing the role of AI in enhancing customer experience, optimizing resource allocation, and driving revenue growth. Furthermore, the paper addresses key considerations and challenges associated with integrating AI into marketing strategies, including data privacy concerns, ethical implications, and organizational readiness. It advocates for a structured approach to AI implementation, encompassing robust data governance, talent acquisition, and continuous monitoring to mitigate risks effectively. Drawing upon industry best practices and case studies, the concept paper elucidates practical methodologies for leveraging AI in setting strategic marketing goals. It emphasizes the importance of data-driven decision-making, iterative experimentation, and agile adaptation to capitalize on AI's potential for driving innovation and competitive advantage. In conclusion, the concept paper advocates for a proactive stance towards embracing AI in marketing strategy formulation. By strategically harnessing AI's capabilities, organizations can not only enhance their marketing effectiveness but also cultivate long-term sustainable growth in today's dynamic business environment. Keywords: AI, Strategic, Marketing, Environment, Goals, Business.

Penerapan Strategi Pemasaran Pada Produk UKM Keripik Pare di Kecamatan Pasekan Kabupaten Indramayu

The need for healthy food is increasing along with population growth and increasingly limited agricultural land. However, many snack foods on the market contain additional ingredients that can be harmful to health. Therefore, healthy and nutritious snack products are increasingly needed. One interesting alternative is bitter melon chips, which are a snack product made from bitter melon, a plant that has high nutritional value. In an effort to publicize and market bitter melon chips, a business called Keripik Pare was founded by a group in West Java. The business proposal includes business ideas, capital, production planning, and marketing strategies to increase product competitiveness and business profitability and uses structured and effective implementation methods to produce quality products. By implementing SWOT analysis and the canvas business model, it is hoped that you will be able to identify business strengths, weaknesses, opportunities and threats, and design the right business strategy. In addition, the marketing strategy used includes market segmentation, determining market targets, and appropriate product placement. Through this effort, it is hoped that it can increase public awareness of the importance of consuming healthy food, create new jobs, and increase the income of local farmers.

Compensating Service Failures: The Moderating Role of Customers’ Political Ideology

When service failure occurs, the service provide often dispenses compensation to manage customer relations. However, little research has studied who accepts larger or smaller compensation amounts. Presently, we use political ideology as a basis to segment customers. Drawing on prior work on System Justification Theory, we hypothesize that politically conservative customers accept a lower amount of compensation than liberals as conservative customers more likely believe that whatever amount the service provider offers is just and fair. Importantly, we propose that the effects are specific to economic conservatives, not social conservatives. The findings are consistent with our predictions, with (economic) conservatives’ customers’ system justification beliefs serving as a mechanism. Theoretically, our work is the first to examine who accepts different levels of compensation while also broadly suggesting that political ideology is an important customer segmentation basis in the tourism and hospitality sectors. Our work also contributes to the literature on political ideology by being one of the first to empirically tease apart the distinct effects of economic and social conservatism.

Examining the impact of pharmacist professionalism and celebrity endorsers on dietary supplement purchase intention: the moderating role of product knowledge

Purpose This study aims to explore how consumers’ purchase intentions concerning dietary supplements are affected by two pivotal factors: pharmacist professionalism and celebrity endorser attractiveness. In addition, this study investigates the moderating role of consumers’ awareness of product knowledge about dietary supplements in the relationship between brand trust and purchase intention. Design/methodology/approach The research data was collected through online questionnaires from a convenience sample of 340 individuals residing in Taiwan. The research model, consisting of four hypotheses, was formulated based on a literature review. The partial least squares structural equation modeling technique was used for data analysis. Findings The findings indicate positive effects of both pharmacist professionalism and celebrity endorser attractiveness on dietary supplement brand trust. The results also suggest a significant impact of brand trust on purchase intention. Finally, product knowledge significantly moderates the relationship between brand trust and purchase intention. Practical implications The findings from this study provide valuable insights for marketers, pharmacists and practitioners about the drivers of consumers’ dietary supplement purchase behavior. It will enable marketers to develop better strategies for the dietary supplement market segment. Originality/value This paper has made a significant contribution to the understanding of consumer buying intentions toward dietary supplements, addressing a gap in the literature. First, unlike previous research, this study considers both pharmacist professionalism and celebrity endorser attractiveness in the research model, effectively bridging this gap. Furthermore, this study identifies the pivotal role of brand trust as a critical factor in enhancing consumers’ purchase intentions toward dietary supplements, offering valuable insights for dietary supplement companies regarding consumer purchase decision-making.

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.