Demirhan Oğuzhan, Eskiler Ersin and Altunışık Remzi
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Implementing MarketSegmentation // Journal of Business & Industrial Marketing. Vol. 12, No. 1, pp. 51–65. doi: https://doi.org/10.1108/08858629710157931
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This paper tests the performance of the Capital Asset Pricing Model (CAPM) and the Fama-French three-factor and Carhart four-factor models on the Polish market. We use stock level data from April 2001 to January 2014 and find strong evidence for value and momentum effects, but only weak evidence for size premium. We formed portfolios double-sorted on size and book-to-market ratios, as well as on size and momentum, and we explain their returns with the above-mentioned asset pricing models. The CAPM is rejected and the three-factor and four-factor models perform well for the size and B/M sorted portfolios, but fail to explain returns on the size and momentum sorted portfolios. With the exception of the momentum factor, local Polish factors are not correlated with their European and global counterparts, suggesting market segmentation. Finally, the international value, size and momentum factors perform poorly in explaining cross-sectional variation in stock returns on the Polish market.
In marketing communication it is important to know what and how to inform the customer, it means to know the target audience, where it is located and how it is possible to reach it. The most commonly used form of addressing the customer in the retail is a leaflet action. This article aims to highlight the use of segmentation aspects by retail in the selected region for the best implementation of selected communication mix - direct marketing. An analysis of secondary data - professional literature and studies dealing with the meaning of communication in the company, specifically marketing communication with a focus on direct marketing in the retail – was executed to fulfil the objectives of the article. Results from a questionnaire survey that examined the influence of spatial data on the purchasing behaviour of customers in Ústí nad Labem - City will be used as primary data. Survey results indicate the fact that it was necessary to collect spatial data on the segment. A selected market was examined in the questionnaire survey mainly in terms of geography and demography and impact of these criteria on the leaflet distribution process application. Geographical segmentation provided information on the spatial distribution of retail shops in the city. Socio-demographic segmentation offered information about age, gender, status, and education of customers who shop in the supermarkets.
Serbia is geographically located in Europe, which is why it faces stiff competition from other European destinations, but also from other destinations worldwide. In order to understand contemporary competitive environment, major trends have been identified at the global, regional and local level. The data from the analysis of Serbian summer season tourism market were used to create tourist profiles for 4 supply side regions (Domestic-Serbia; Western Balkans-Slovenia, Croatia, Bosnia, Montenegro, Kosovo and Macedonia; Central-Eastern Europe-Austria, Czech Republic, Slovakia, Poland, Hungary, Romania; Western Europe and the rest of the world), for 5 major Serbian destinations (Belgrade, Novi Sad, Niš, Zlatibor, Kopaonik) and for 7 types of tourists according to their core motivation for travelling (pleasure, fun & entertainment, nature, culture, sport & adventure, health, and business). Based on the given tourist profiles, separate marketing campaign scenarios were created for each of the market segments.
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Magdalena Mojsiewicz, Barbara Batóg and Katarzyna Wawrzyniak
Application of Factor Analysis in Behavioral Segmentation on the Base of Semiometric Scale
The main aim of the paper is to present the methodological basis of market segmentation which uses not only demographic-social attributes and preferences but also variables defining values with important meaning in personal life of customers. The construction of a psychometric test is discussed on the basis of the example of a semiometric scale. This test uses principal components analysis in order to distinguish the main dimensions of cultural dichotomies. The example of measurement on the semiometric scale comes from the examination of preferences in the range of the life and medical insurances.
This paper deals with the market segmentation of recreational forest services using the concept of ‘sensation seeking’ to describe expectations of town dwellers towards recreation. In this approach, the variable of landscape dissimilarity is evaluated based on the landscape preferences of town dwellers for recreational purposes. The urban agglomeration of Białystok and the Knyszyn Forest (North-Eastern Poland) were chosen as the target for this case study. The results of the research suggest that the potential market of recreational forest services of the urban agglomeration of Białystok includes and provides for about 30% of the inhabitants. The emerging true market of the recreational services of the Knyszyn Forest reaches only about 22% of the inhabitants of Białystok. These market limitations and the characteristics of the forest landscape are inacceptable for outdoor recreation for the majority of town dwellers.
This paper discusses the firm-level determinants of international hotels’ foreign markets entry choices, contrasting acquisition with management and franchise contracts, based on a resource-dependency perspective and appropriability theory. It points out that brand equity, relatedness of products and market segmentation, partner-specific knowledge of hotels, international experience, and the duration of proprietary knowledge impact hotels’ decisions on how to enter a foreign market. In addition, the paper suggests the existence of entry choices sequence favorable to acquisition probability after the end of management contract when the franchisors’ or management companies’ proprietary knowledge attenuates. Contract activity is likely to be renewed after the acquisition, once the management company has established a new form or a higher level of proprietary knowledge.