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Market Segmentation in the 21st Century Discrete Solutions to Continuous Problems
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- Authors
- Issue Date
- 1998-12
- Citation
- Seoul Journal of Business, Vol.4 No.2, pp. 129-157
- Keywords
- market segmentation ; psychological constructs ; actual behavior
- Abstract
- Market segments exist because of information and cost constraints If
manufacturers had accurate individual-level demand information and
the abllity to produce and deliver unique products at low cost, then
individual customization of products would be a viable market strategy
But as uncertainty about consumer demand increases and/or the cost
of customization increases, firms find it more profitable to reduce the
variety of the products they offer This paper reports on a critical
examination of trends in the analysis of customer data and in
reductions in the cost of customization brought about by inovations
such as the Internet and flexlble manufacturing systems. We conclude
that recent trends are not sufficient to support individual customization
in most product categories. However, despite the inability of these
trends to support individual customization, we predict several changes
In the dimensions surrounding successful segmentation strategies that
will be used by firms in the future.
- ISSN
- 1226-9816
- Language
- English
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