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Suggests that the tasks involved in the market segmentation process have not been studied and developed with the same depth. Most of the academic interest has been directed towards the identification of segments, while works dealing with their evaluation and selection are very rarely found. Similarly, little attention has been paid to these tasks in the professional world. Reviews the academic material dealing with segment evaluation and selection. Also provides results of empirical research. This investigation was carried out in order to assess the importance given to these stages of the process, as well as the methods employed. Taking into account the considerable gap existing in this field both in academic and professional circles, proposes a model for the evaluation and selection of segments. The final output is a selection matrix, where segments are situated according to two multivariate dimensions. Finally, discusses different characteristics of the model.

The paper aims to propose a practical model for market segment selection and evaluation. The paper carries out a technique of order preference similarity to the ideal solution (TOPSIS) approach to make an operation systematic dealing with multi-criteria decision- making problem.

Introducing a multi-criteria decision-making problem based on TOPSIS approach. A new entropy and new similarity measure under neutrosopic environment are proposed to evaluate the weights of criteria and the relative closeness coefficient in TOPSIS model.

The outcomes show that the TOPSIS model based on new entropy and similarity measure is effective for evaluation and selection market segment. Profitability, growth of the market, the likelihood of sustainable differential advantages are the most important insights of criteria.

This paper put forward an effective multi-criteria decision-making dealing with uncertain information.

Examines the selection and diversification of market segments for robotics products with respect to application areas and customer sectors.

This study attempted to investigate the selection and diversification of market segments by 50 robotics firms in the US with respect to application areas and customer sectors that they serve. Based upon the concept of strategic groups, we classified those robotics firms into three distinct strategic groups along the dimensions of application area diversification and customer sector diversification. The three strategic groups were identified as high, moderate, and low diversification groups, with respect to both application areas and customer sectors.

The results show that robotics firms vary in their selection of application areas and customer sectors, and more importantly in the degree of diversification of application areas and customer sectors. Also, three distinct strategic groups are observed among them, based upon the degree of diversification of application areas and customer sectors.

A few limitations are recognized in this study. First, we used only the dimensions of market segment diversification in classifying the strategic groups in the US robotics industry. Given the important role of technology in the industry, we may consider pairing market dimensions with technology dimensions in exploring any strategic groups in the industry. Second, we only tested for the existence of strategic groups in the industry. We may further consider investigating the factors or reasons for the differences between the strategic groups, as well as any performance differences between the strategic groups. In studying the firm's performance, it is desirable to utilize financial performance measures such as sales growth and profitability. But securing such financial performance measures for individual robotics firms is hampered by the consolidated financial results of diversified firms and the presence of privately held firms in the industry. Third, we used data compiled from a secondary source. We may consider collecting time‐series data directly from robotics firms. These limitations are not certainly exhaustive but rather important ones for future research.

Given the limited studies on robotics firms and their strategy, the results should be of interest to those who formulate product strategy in the robotics market.

The issues of diversification of market segments and the resultant strategic groups that we examined are well worth trying to understand for more viable market strategy in the field. Particularly, the identification of such strategic groups in the industry would help robotics firms evaluate their competitive positions, as well as competitors' approach to the market place.

The purpose of this paper is to propose a quality function deployment analytic hierarchy process (QFD‐AHP) framework to improve quality and competitive positioning within the financial services context. The applicability of the model is demonstrated through a case study.

Results of two empirical surveys were utilized to detect the “Voice of the Customer”. The first identified main bank selection criteria and questionnaires and exploratory factor analysis were employed. The second utilized structured interviews for the development of the first house of quality (HOQ), relating customer requirements to key market segments. The AHP was used to determine the intensity of the relationships within the HOQ.

In total, six key selection criteria were designated. Analysis incorporated customer needs and evaluations for the bank's current position, future goals related to specific market segments, and competition allocations. “Pricing” was the most important criterion, followed by “effective services” and “location”.

Data analysis was carried out with data from one relatively large organization. Future research might comprise additional financial institutions and possible comparative analysis regarding criteria and modeling alternatives. In addition, integration of tools such as fuzzy AHP to account for the volatility of bank selection criteria could be of great interest.

Prioritizing selection criteria is a valuable tool to help managers focus future improvement efforts and goals in a sector which faces important challenges due to the global financial crisis. As selection criteria and relative importance change due to turbulent financial situation, models such as the proposed allow adaptation, echoing the evolving voice of the customer in the key attributes and performance improvement priorities.

The paper develops a model that integrates the AHP and the QFD through which banks will identify key customer segments’ needs, as a first step in their effort to improve quality and performance. The authors emphasized the research design to foster face validity.

Market selection in business‐to‐business (B2B) market transactions is more complex than the one‐step market segmentation decision in consumer markets. This article models market selection and procurement decision‐making in B2B markets as a five‐step procedure involving choice of vertical and horizontal markets. Vertical market choice decisions are shown to encompass choice of output markets, value adding that the organization will perform internally (the “make” decision), and input markets (the “buy” decision). Horizontal market choice decisions are shown to encompass choice of macro segments in the output market and micro segments within each of the macro segments selected. Explores how we can draw on theoretical developments in industrial organization economics to help make these strategic decisions. The article suggests how to set the boundaries of the organization and determine what markets to serve, what to make, and what to buy with the help of transaction cost and market structure analysis.

Segmenting a marketplace is one of the most important strategic moves that can be made by high‐tech companies, industrial firms, and firms that sell services to other businesses. Yet technical‐based businesses often miss out on opportunities by failing to divide their markets adequately and develop cohesive strategies to conquer and protect a market position.

This article exposes common pitfalls in the practice of segmenting industrial markets and shows how previous industrial segmentation research has been of limited managerial value. An operational approach to conducting industrial market segmentation is presented and explained.

Considers the need for research on cues used by consumers in service assessment and selection. Reports on a pilot study using conjoint analysis to examine the trade‐off nature of cues in a restaurant setting. Reveals that price played a less important role in influencing service expectations and selection than more personal sources of information. Notes the effects of low price on service quality expectations. Recommends that practitioners conduct a study among their own market segments and offers advice on developing a list of relevant cues.

Determinant attribute analysis technique that isolates critical product attributes, can be a useful marketing tool for organizations hoping to penetrate new markets, and re‐examine their current market needs. Uses restaurants in Hong Kong as an example. While consumers say that food quality and food type are the critical variables for restaurant selection or rejection, other “lesser” choice variables may be the deciding factors in the final restaurants selection or reflection. The four restaurant types which emerged from the study are: fine dining/gourmet; theme/atmosphere; family/popular; and convenience/fast‐food restaurants. The results indicate that customers’ perceptions and therefore their preferences of choice variables, varied considerably by restaurant type, dining‐out occasion, age, and occupation. Suggests that the importance of perceivably unimportant attributes, can determine customers’ final restaurant choice. It is suggested, therefore, that the quality of food and type of food should not be the only attributes underpinning the restaurateurs’ marketing strategies in Hong Kong.

Details the methods used by European airport authorities to segment their consumer base. It will be argued that macro‐level factors, over which the industry has no control, have compelled airports to expand their commercial activities. As a consequence, airport authorities have been forced to adopt a more marketing‐orientated approach. To fully capitalise on the opportunities afforded to them, a range of segmentation categories have been developed that are specific to an airport environment. It will be argued that authorities act as “gatekeepers” and use this unique form of a priori segmentation to determine the most suitable tenant mix for their airport. Once operating within the airport, the retailers themselves also undertake a further series of segmentation strategies based either on a priori principles or on “micro‐level” techniques.