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| Author: | Hruschka, H. Fettes, W. Probst, M. |
| Title: | Market segmentation by maximum likelihood clustering using choice elasticities |
| Journal: | European Journal of Operational Research
2004 : MAY, VOL. 154:3, p. 779-786 |
| Index terms: | Market segmentation Cluster analysis Choice theory |
| Language: | eng |
| Abstract: | The authors determine market segments by clustering households on the basis of their average choice elasticities across purchases and brand w.r.t. price, sales promotion and brand loyalty. The cluster analysis technique used is maximum likelihood method which allows varying size and orientation and assumes constant volume. Elasticities originate from choice models with alternatively linear and nonlinear utility functions. Choice models are estimated on the basis of household scanner data. Segments are interpreted by means of multiple discriminant analysis and multinomial logit models whose predictors are elasticities of predictors and external variables. |
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