Forecasting financial products acquisition via dynamic segmentation: an application to the Italian market

The topic of market segmentation is still one of the most pervasive in marketing. Among clustering techniques, finite mixture models have gained recognition as a method of segmentation with several advantages over traditional methods; one variant of finite mixture models – the latent class (LC) model – is probably the most popular.

Forecasting financial products acquisition via dynamic segmentation: an application to the Italian market

Francesca Bassi

University of Padova

Introduction

The topic of market segmentation is still one of the most pervasive in marketing. The overall goal of segmentation is to divide a population into mutually exhaustive and exclusive sub-groups that differ with respect to some criterion, and to identify those segments that are best from a marketing perspective so that they can be targeted.

A number of analytical methods exist for conducting consumer segmentation: criterion-based models (for an example, see Magidson 1994) and non-criterion-based models, such as, for example, clustering...

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