Marketing Segmentation in Consumer Product Industry

Marketing segmentation is widely used for targeting a smaller group of market in consumer product industry, and is useful for decision makers to effectively focus on their consumers’ purchasing behavior based on one marketing mix. In order to have a better understanding of the relationship between marketing segmentation in conventional business field and data science field, marketing segmentation is introduced from the perspectives of business and data science in this paper. In addition, on the basis of the introduction of both methods, conclusion can be drawn that data science methods are used in marketing segmentation as an assistance to present more precise output, based on the theory generated in business practice.

Abstract licence: CC BY

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