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Erschienen in:
2013 | OriginalPaper | Buchkapitel
Advances in Market Segmentation through Nature-Inspired Intelligence Methods: An Empirical Evaluation
verfasst von : Charalampos Saridakis, Stelios Tsafarakis, George Baltas, Nikolaos Matsatsinis
Erschienen in: Management Intelligent Systems
Verlag: Springer International Publishing
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Market segmentation is a broadly recognized concept in strategic marketing and planning. Although K-means cluster analysis has been traditionally used as a means to segment markets during the last 50 years, the results have often been reported to be less than satisfactory. This paper develops and introduces a new nature-inspired mechanism, called Particle Swarm Optimization, to the problem of market segmentation. The proposed mechanism, which addresses shortcomings of existing approaches, is being implemented in an empirical dataset of 1,622 consumers pertaining to attribute-level satisfaction ratings from currently owned cars. The results are encouraging and provide decision makers with improved alternatives over existing market segmentation methods.
