Market segmentation by maximum likelihood clustering using choice elasticities

European Journal of Operational Research

Volumn 154, Issue 3, 2004, Pages 779-786

  Hruschka, Harald ^a   Fettes, Werner ^b   Probst, Markus ^c  

^a UNIVERSITY OF REGENSBURG   (Germany)

^b Debis Systemhaus GEI   (Germany)

^c MSG SYSTEMS AG   (Germany)

Author keywords

Choice models; Cluster analysis; Market segmentation; Marketing

Indexed keywords

MATRIX ALGEBRA; MAXIMUM LIKELIHOOD ESTIMATION; OPERATIONS RESEARCH; PARAMETER ESTIMATION; PURCHASING; SALES;

BRAND LOYALTY; MARKET SEGMENTATION;

MARKETING;

EID: 0348223631     PISSN: 03772217     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0377-2217(02)00807-X     Document Type: Article

References (13)

1. Banfield J.D., Raftery A.E. Model-based Gaussian and non-Gaussian clustering. Biometrics. 49:1993;803-821.
2. Corstjens M.L., Gautschi D.A. Formal choice models in marketing. Marketing Science. 2:1983;19-56.
3. Guadagni P.M., Little J.D.C. A logit model of brand choice calibrated on scanner data. Marketing Science. 2:1983;203-238.
4. Hornik K., Stinchcombe M., White H. Multilayer feedforward networks are universal approximators. Neural Networks. 3:1989;359-366.
5. Hruschka, H., Fettes, W., Probst, M., 1999. Artificial neural net-multinomial logit model. A Semiparametric Approach to Analyze Brand Choice, Discussion Paper, Faculty of Economics, University of Regensburg, Regensburg, Germany.
6. Kahneman D., Tversky A. An analysis of decision under risk. Econometrica. 47:1979;363-391.
7. Maddala G.S. Limited-Dependent and Qualitative Variables in Econometrics. 1983;Cambridge University Press, Cambridge.
8. McFadden D. Conditional Logit Analysis of Qualitative Choice Behavior. Zarembka P. Frontiers in Econometrics. 1973;105-142 Academic Press, New York.
9. McFadden D. Econometric models for probabilistic choice among products. Journal of Business. 53:1980;S13-S34.
10. Ripley B.D. Statistical aspects of neural networks. Barndorff-Nielsen O.E., Jensen J.L., Kendall W.S. Networks and Chaos - Statistical and Probabilistic Aspects. 1993;40-123 Chapman & Hall, London.
11. Symons M. Clustering criteria and multivariate normal mixtures. Biometrics. 73:1981;35-43.
12. Wedel M., Kamakura W., Arora N., Bemmaor A., Chiang J., Elrod T., Johnson R., Lenk P., Neslin S., Poulsen C.S. Discrete and continuous representations of unobserved heterogeneity in choice modeling. Marketing Letters. 10:1999;219-232.
13. Winer R.S. Behavioral perspective on pricing. Devinney t.m. issues in Pricing. 1988;35-57 Lexington Books, Lexington, MA.