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Summary of Australian Domestic Market Segments
Source publication
Market segmentation aims to divide markets comprised of individuals into groups whose characteristics are relatively homogeneous within each set or segment and heterogeneous between segments, based on an identified set of variables (Kara and Kaynak, 1997). Marketing academics and practitioners have adopted the concept of market segmentation enthusi...
Contexts in source publication
Context 1
... as the descriptor change was said Figure 3 shows the market segments identified from this study along with the percentage of the Australian population who were identified with each category. Key features of the segments are presented in Table 1. Table 1 shows the key characteristics of the market segments drawn from the segmentation profile. ...
Context 2
... features of the segments are presented in Table 1. Table 1 shows the key characteristics of the market segments drawn from the segmentation profile. The study has adopted a post-hoc approach, primarily using demographic information based upon the family life-cycle, (age and family composition) and the motivation or benefits sought from the travel experience. ...
Context 3
... discussed, Kotler et al. (2001) defines the characteristics of effective market segmentation as those which deliver segments which are measurable, accessible, substantial, actionable and differentiable. The segments outlined in Table 1 The questions of differentiability and actionability are as yet untested. Johar and Sirgy (1995: 2) define actionability as 'a segment which is likely to act, given that the marketing program can manipulate the right variables that lead to action'. ...
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Citations
... People age biologically, psychologically, socially, and spiritually, and these aging processes are manifest in differences in attitudes and behaviors even among people at the same age (Moschis 1992). Segmentation using geographic, demographic, and psychographic criteria only is based on an ''after the fact' characteristics of consumers and therefore provides only descriptive data (Fuller et al. 2005). In order to rely on factors having a causal relationship to consumers' future purchasing behavior and not only descriptive factors, benefit segmentation appears to be an appropriate segmentation approach that can be used to identify homogeneous consumers groups (Mohsen and Dacko 2013). ...
Senior consumers represent an important portion of the market, and as such, they require an appropriate segmentation to explore the consumption characteristics of the different segments composing this specific market. The present study focuses on how different variable sets impact senior consumers’ segmentation. We apply Wedel and Kmakura segmentation framework and Hagerty’s formulation to assess quantitatively the classification power of many variable sets in terms of six segmentation criteria namely identifiability, responsiveness, substantiality, actionability, accessibility, and stability. Findings from a survey conducted over 427 senior consumers show that the variable sets have different supports for each of the above criteria indicating that some sets should be privileged over others in senior consumers’ segmentation. The paper reports the details of this investigation and provides implications for managerial practice and academic research on senior market segmentation.
... In particular, this method enables to obtain compact clusters of spherical shape, and it allows to more accurately create the 'image' of a set of coordinates of its typical representative. Secondly, it works better in case of 'fouled' data (Enyukov, 1989;Muller et al., 2001;Fuller et al., 2005). ...
This article deals with the issues on classification of territories in terms of investment potential from the point of view of foreign investors. The cluster analysis approach is being used. In contemporary regional studies, this issue is covered by a sufficiently large number of scientific papers devoted to problems of development of the investment potential of the territories of the Russian Federation, which confirms the relevance and debatability of this problem. Current article raises questions on the use of hierarchical and non-hierarchical methods. The advantages and disadvantages of these methods are analyzed. The authors come out with a proposal of an integrated approach for classification purposes.
DOI: 10.5901/mjss.2015.v6n6s7p194
... 13 In order to be valuable to marketing practitioners, the process of market segmentation needs to be able to identify different segments of customers that have uniform and stable responses to a particular set of marketing variables. 14 Segments ' stability, in particular, is a relevant criterion for judging market segmentation 15,16 since obtaining a segment structure that is stable contributes to increase the practical utility of segmentation, bridging the gap between theory and practice. In fact, a segment structure that is unstable does not enable proper marketing actions, targeting and positioning in particular. ...
Stability is a desirable property of a segment structure that has implications in its managerial utility, particularly in what concerns targeting and positioning. The stability of a segment structure is the focus of the present work. We argue that the evaluation of stability should be preceded by an adequate segmentation methodological approach that addresses satisfactorily the issues of selection of segmentation base variables, modelling and determination of an adequate number of segments. We advocate the use of the latent segments model approach (estimation of finite mixtures) and the selection of the best models to be based on the ICL-BIC, CAIC, BIC and L information criteria, which evidence some advantages when dealing with mixed-type variables, commonly used in segmentation. We then address the evaluation of stability. Internal stability is evaluated using split samples procedures and replicating segmentation results. Dynamic stability evaluation relies on analysis of data related to different time periods. An application concerning the segmentation of customers of a supermarket chain illustrates the proposed approach. Two databases related to questionnaires conducted in 2000 and 2003 (with 3,141 and 1,504 observations, respectively) are used. The obtained two-segment structure —Preferential Customers and Occasional Customers— exhibits internal and dynamic nonstability.Journal of Targeting, Measurement and Analysis for Marketing (2007) 15, 210-221. doi:10.1057/palgrave.jt.5750052
The main purpose of this study was the tourism market segmentation and dividing tourism market into distinct groups customer who might require separate marketing mix. Gaining this purpose, 560 questionnaires were gathered. To investigate the reliability of questionnaires, content and face validity approaches were used, and for the estimation of the reliability of questionnaires, Cronbach coefficient was computed at 0.91. for the analysis of data, statistical approaches including factor analysis and cluster analysis were applied. Principal component analysis revealed the 56 destination choice criteria being in the form of 10 factors. Cluster analysis was then employed to divide the customers into 4 clusters due to their similarity of respondent of the 10 factors. In addition to, describing the demographic characteristics were analyzed in each clusters. So that valuable information of the characteristics of different people and their and their views should be used to develop a successful and attractive marketing program.
