An international market segmentation based on combined trade value case study: Iran international furniture market Online publication date: Sat, 15-Nov-2014
by Majid Aminnayeri; Samira Malek Mohamadi Golsefid
International Journal of Business Competition and Growth (IJBCG), Vol. 2, No. 4, 2012
Abstract: In this study, the combined value of export for each country in each classified furniture group is calculated based on recency, frequency, monetary, and continuity variables, namely, RFMC model. Two clustering methods, EM and K-means algorithm, are used to segment Iran international furniture market based on combined trade value and monetary variables. The findings indicated that EM algorithm is the most robust approach for segmentation market of combined value in this study. To validate whether the members of the clusters are significantly different based on product groups, a two way ANOVA model is applied. Finally, each market segment is analysed and some marketing policies are suggested.
Online publication date: Sat, 15-Nov-2014
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