The dynamics of value segments: Modeling framework and empirical illustration
International Journal of Research in Marketing , Volume 19 - Issue 3 p. 267- 285
Value systems are central to understanding consumer behavior and they are an important basis for market segmentation. This study addresses changes in individual value systems across time. First, we conceptualize main ways in which value systems may change over time. Next, we extend Kamakura and Mazzon's [J. Consum. Res. 18 (1991) 208] segmentation approach to accommodate these value system changes. We present a continuum of value segment change opportunities, with intermediate models in-between. We apply the models to a data set consisting of longitudinal (Rokeach Terminal Values) value measurements in a nationwide sample in the Netherlands. The results support the stability of value systems within segments, but reveal that subjects show substantial switching among segments in the 3 years of the study. We then discuss the implications of our modeling approach for value theory and segmentation practice.
|Hidden Markov, Market segmentation, Mixture logit model, Value change|
|International Journal of Research in Marketing|
|Organisation||Erasmus School of Economics|
Brangule-Vlagsma, K, Pieters, F.G.M, & Wedel, M. (2002). The dynamics of value segments: Modeling framework and empirical illustration. International Journal of Research in Marketing, 19(3), 267–285. doi:10.1016/S0167-8116(02)00079-4