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"
}