Cluster Analysis for Segmentation
Venkatesan, Rajkum...
Cluster Analysis for Segmentation
M-0748 | Published March 22, 2007 | 7 pages Technical Note
Collection: Darden School of Business
Product Details
This note is designed for use in an MBA marketing research course. It provides an overview of segmentation using K-means clustering. A simple algorithm for K-means clustering and the process of profiling clusters are provided. The note discusses the need for segmentation in marketing and emphasizes the role of managerial judgment in choosing a segmentation policy. Examples from the insurance industry are used in the note.
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