Dylan's BI Study Notes

My notes about Business Intelligence, Data Warehousing, OLAP, and Master Data Management

Posts Tagged ‘CRM Analytics’

Market Segmentation and Data Mining

Posted by Dylan Wan on April 3, 2015

1. Market Segmentation in the academic world 

Market Segmentation is part of marketing process. It is described in Philip Kotler’s book as part of the step of defining the market strategy.The idea is to segment consumer market by some variables and to divide the market into different segments. Selecting the segments for your products is the result of the marketing strategy.  If you have multiple product lines, this definition process can be done for each product line if not done at the individual product level.

For example, my product X is targeted to sell to the consumers who are women, without kids, living in city, and having more than $90000 income.

This web page includes a very good and concise summary – Market Segmentation and Selection of Target Segments.  It reminded what I learned from my Marketing course in 20 years ago.

2. Marketing Segmentation as a product feature

Once the variables and the segments are defined as part of the marketing strategy, Read the rest of this entry »

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