A multi‐segmenting methodology is proposed for comparing the segmenting capabilities of segmentation variables and providing complete market segmentation information. Demographic and psychographic variables based on the differentiation of consumer brand preference were used to elicit the characteristics of market segments. In a comparative evaluation, the multi‐combination variables of demographic segmentation exhibited market‐segmenting capabilities equivalent to those of psychographic segmentation. The purpose of this research is utilizing multiple segmentation variables to identify smaller, better‐defined target sub‐markets for enhancing business competitive advantages.
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