Answers are grounded in this paper and cite their sources.
Market segmentation requires definition of consumer groups by variables that discriminate purchasing behavior. A multivariate program is described capable of defining homogeneous groups by a large number of variables to maximize discrimination between purchase group means. The program has specific advantages compared to traditional methods of grouping such as cross-classification, regression, and discriminant analysis. It is applied in segmenting markets by product and brand usage based on demographic and attitudinal variables.
No takes yet. Share an insight, caveat, or question.
Henry Assael (1970) studied this question.
Synapse has enriched 10 related papers. Consider them for comparative context: