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Using Demographic Variables to Determine Target Segments in Binary Logit Models

In: Advances in Applied Economic Research

Author

Listed:
  • Tsend-Ayush Ganbaatar

    (Masaryk University)

Abstract

The paper aims to figure out possible ways to determine appropriate target segments for competitive yogurt brands in USA after identifying market segments based on demographic variables. We have chosen five yogurt brands to conduct the analysis and the dataset of demographics and consumers purchase is provided by IRI. According to the findings, the household income, size, and household head age are the most influential demographic variables and have enough potential to predict customer choices. There can be particular and distinctive target segments for the competitive brands in terms of the significant demographic variables out of the all possible market segments. More specifically, it is effective to employ Logit models to predict consumer purchase choices and it is easy to determine appropriate target segments for each brand based on the predictions. Interestingly, the target segments for each brand are distinctive and there can be three niche markets readily available for new entries.

Suggested Citation

  • Tsend-Ayush Ganbaatar, 2017. "Using Demographic Variables to Determine Target Segments in Binary Logit Models," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Applied Economic Research, chapter 0, pages 193-224, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-48454-9_15
    DOI: 10.1007/978-3-319-48454-9_15
    as

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