Modern marketing techniques in industrialized countries cannot be implemented without segmentation of the potential market. Goods are no longer produced and sold without a significant consideration of customer needs combined with a recognition that these needs are heterogeneous. Since first emerging in the late 1950s, the concept of segmentation has been one of the most researched topics in the marketing literature. Segmentation has become a central topic to both the theory and practice of marketing, particularly in the recent development of finite mixture models to better identify market segments. This second edition of Market Segmentation updates and extends the integrated examination of segmentation theory and methodology begun in the first edition. A chapter on mixture model analysis of paired comparison data has been added, together with a new chapter on the pros and cons of the mixture model. The book starts with a framework for considering the various bases and methods available for conducting segmentation studies. The second section contains a more detailed discussion of the methodology for market segmentation, from traditional clustering algorithms to more recent developments in finite mixtures and latent class models. Three types of finite mixture models are discussed in this second section: simple mixtures, mixtures of regressions and mixtures of unfolding models. The third main section is devoted to special topics in market segmentation such as joint segmentation, segmentation using tailored interviewing and segmentation with structural equation models. The fourth part covers four major approaches to applied market segmentation: geo-demographic, lifestyle, response-based, and conjoint analysis. The final concluding section discusses directions for further research.
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About the Author
Michel Wedel (1957) is Professor of Marketing Research at the Department of Economics, University of Groningen, The Netherlands.
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4 of 4 people found the following review helpful
By A Customer
Format:Hardcover
The writers provide a good introduction to the segmentation theory. The literature review is excellent and is worth reading for any academic interested in customer segmentation.
This book is not meant for a business person, it's quite heavy academic text. So do not buy it, if you are not involved with heavy mathematical segmentation analysis.
Good investment for an academic or data miner working in the field of segmentation.
Most Helpful Customer Reviews on Amazon.com (beta)
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3 reviews
1 of 1 people found the following review helpful
4.0 out of 5 stars
In Segmentation Library
13 Feb 2010
By Tom Anderson
- Published on Amazon.com
Format:Hardcover|Amazon Verified Purchase
We conduct several customer segmentaiton studies for various clients each year. This is one of only 5 books I recommend to other market researcher who are interested in the topic of consumer segmentation.
7 of 10 people found the following review helpful
5.0 out of 5 stars
Excellent book, but delivery is convoluted
18 May 2004
By Greg M. Thomas
- Published on Amazon.com
Format:Hardcover
This is an excellent book for getting a grip on quantitative market segmentation methods. It is a bit murky in places, but definately is one of the more advanced books on the subject.
I recommend it, but with reservation for those who are not up to speed in statistical analysis.
3.0 out of 5 stars
Too expensive
25 Aug 2010
By SM-NM Catboy
- Published on Amazon.com
Format:Hardcover|Amazon Verified Purchase
Too expensive for the amount and level of information presented. You can get most of that from other cheaper books...and from Google or consumer-segmentation companies' websites.
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