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Geographic SegmentationIt is well known that people with similar demographic and psychographic characteristics tend to live nearby, for example, in suburbs, counties, shires, states, regions, countries, etc. People living within the same geographical boundaries often exhibit similar buying patterns. This is in part due to similarities in demographic and psychographic characteristics of residents. This phenomena is further enforced by local weather, environment, and cultural differences. Segmenting markets along geographical boundaries can lead to more specialized and focused marketing approaches. Geographic segmentation can use the following information;
Geographic Segmentation and (Sales) Trend Analysis/ForecastTime-series (sales) trend analysis can be used in geographic segmentation. Using time-series trend analysis tools, geographic regions with similar (sales) trends and patterns can be identified and grouped together as segments. This method can improve quality of segmentation significantly. The following figure shows time-series trend analysis on geographic segments. For more, please read Sales Trend Analysis and Sales Forecasting. Examples of Geographical SegmentationGeographical segmentation can be used for various purposes. The followings are geographic segmentation examples;
For more, also read Customer Segmentation. |
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