Shivam Soliya
Bio
Here to write about Businesses | Business & Marketing Strategies | Data analysis
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Stories (2/0)
Customer Segmentation using k-prototypes algorithm
Why do we need to segment the market? Whether real or perceived, customers have a wide range of demands and preferences, which is a fundamental assumption. Consider how much research, trial and error, and peer reviews you undergo before purchasing any product. It is because everyone has unique needs, desires, wants, preferences, etc. And firms have to consider and manage this customer heterogeneity to fulfill customers' demands and preferences. Thus, according to Palmatier and Sridhar, 2017 this provides us first foundational marketing principle i.e.
By Shivam Soliya3 years ago in Journal
