Publication detail
Geographical Market Segmentation of EU Countries for New Entrants – Hierarchical Agglomerative Clustering Method
SCHÜLLER, D.
Original Title
Geographical Market Segmentation of EU Countries for New Entrants – Hierarchical Agglomerative Clustering Method
English Title
Geographical Market Segmentation of EU Countries for New Entrants – Hierarchical Agglomerative Clustering Method
Type
conference paper
Language
en
Original Abstract
Growing liberalization in international marketplace and high domestic competition force companies to expand to global market. Global expansion activities are ever more significant for growth and prosperity of modern companies. Currently, companies are forced to look for new proposals to be able to compete in an ever-increasing competitive environment. Marketing segmentation is used for targeting a smaller, relatively homogenous market and is helpful for marketers to reach the chosen segment of customers effectively with one marketing mix. This paper is focused on the geographical segmentation of EU market where a size of population and gross domestic product per capita of the countries define the potential of those markets. For the purposes of market segmentation agglomerative hierarchical clustering was used and the Ward’s criterion was applied as the suitable statistical method. On the basis of given output the fundamental marketing proposals were formulated for new entrants to EU market.
English abstract
Growing liberalization in international marketplace and high domestic competition force companies to expand to global market. Global expansion activities are ever more significant for growth and prosperity of modern companies. Currently, companies are forced to look for new proposals to be able to compete in an ever-increasing competitive environment. Marketing segmentation is used for targeting a smaller, relatively homogenous market and is helpful for marketers to reach the chosen segment of customers effectively with one marketing mix. This paper is focused on the geographical segmentation of EU market where a size of population and gross domestic product per capita of the countries define the potential of those markets. For the purposes of market segmentation agglomerative hierarchical clustering was used and the Ward’s criterion was applied as the suitable statistical method. On the basis of given output the fundamental marketing proposals were formulated for new entrants to EU market.
Keywords
Market Potential, EU Counties, New Entrants, Hierarchical Agglomerative Clustering
RIV year
2015
Released
11.11.2015
Publisher
International Business Information Management Association (IBIMA)
Location
Madrid, Spain
ISBN
978-0-9860419-5-2
Book
Innovation Management and Sustainable Economic Competitive Advantage: From Regional Development to Global Growth
Edition
26
Pages from
531
Pages to
538
Pages count
8
URL
BibTex
@inproceedings{BUT119668,
author="David {Schüller}",
title="Geographical Market Segmentation of EU Countries for New Entrants – Hierarchical Agglomerative
Clustering Method",
annote="Growing liberalization in international marketplace and high domestic competition force companies to expand to global market. Global expansion activities are ever more significant for growth and prosperity of modern companies. Currently, companies are forced to look for new proposals to be able to compete in an ever-increasing competitive environment. Marketing segmentation is used for targeting a smaller, relatively homogenous market and is helpful for marketers to reach the chosen segment of customers effectively with one marketing mix. This paper is focused on the geographical segmentation of EU market where a size of population and gross domestic product per capita of the countries define the potential of those markets. For the purposes of market segmentation agglomerative hierarchical clustering was used and the Ward’s criterion was applied as the suitable statistical method. On the basis of given output the fundamental marketing proposals were formulated for new entrants to EU market.",
address="International Business Information Management Association (IBIMA)",
booktitle="Innovation Management and Sustainable Economic Competitive Advantage: From Regional Development to Global Growth",
chapter="119668",
edition="26",
howpublished="online",
institution="International Business Information Management Association (IBIMA)",
year="2015",
month="november",
pages="531--538",
publisher="International Business Information Management Association (IBIMA)",
type="conference paper"
}