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Essay text:
Successful segmentation depends on understanding what consumers need, how groups of consumers differ from one another, and how consumers decide among products.
Decision Analyst's Advanced Analytics Group searches for and identifies patterns in the data. Rigorous analytic techniques (including factor analysis, discriminant analysis, k-means and hierarchical clustering, latent class segmentation, and Factor Segmentation?) are used to organize consumers into groups with similar attitudes, needs, and desires. The size and market potential of each psychographic segment is determined, along with the positioning and appeals that should be employed to reach each segment...
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