The joint effect of relevant/irrelevant information and expertise on the formation of market segments: Do experts group in fewer, tighter clusters?

Laurie A. Stevens, Mark T. Spence

Research output: Contribution to conferencePaperResearchpeer-review

Abstract

The purpose of this study was to illustrate the effect that expertise has in a product choice taskwhere the options contain relevant, idiosyncratic and irrelevant attributes. The overarchinghypothesis was that experts should group into a fewer number of segments than should novicesbecause the latter will overweight irrelevant information. To test this hypothesis the ratings ofeight products were analyzed first using conjoint analysis, and then the part-worth utilities weregrouped with a clustering algorithm to compare segments formed by experts and novices.Experts do group into fewer, more tightly packed clusters; however, the analysis does not showthat the segments for experts were purely driven by the relevant and idiosyncratic information.
Original languageEnglish
Pages319-324
Number of pages6
Publication statusPublished - 2005
EventAustralian and New Zealand Marketing Academy Conference - Fremantle, Australia
Duration: 3 Dec 20057 Dec 2005
http://www.anzmac.org/conference_archive/2005/

Conference

ConferenceAustralian and New Zealand Marketing Academy Conference
Abbreviated titleANZMAC
CountryAustralia
CityFremantle
Period3/12/057/12/05
Internet address

Fingerprint

Market segments
Expertise
Rating
Product choice
Conjoint analysis
Hypothesis test
Clustering algorithm

Cite this

Stevens, L. A., & Spence, M. T. (2005). The joint effect of relevant/irrelevant information and expertise on the formation of market segments: Do experts group in fewer, tighter clusters?. 319-324. Paper presented at Australian and New Zealand Marketing Academy Conference, Fremantle, Australia.
Stevens, Laurie A. ; Spence, Mark T. / The joint effect of relevant/irrelevant information and expertise on the formation of market segments : Do experts group in fewer, tighter clusters?. Paper presented at Australian and New Zealand Marketing Academy Conference, Fremantle, Australia.6 p.
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Stevens, LA & Spence, MT 2005, 'The joint effect of relevant/irrelevant information and expertise on the formation of market segments: Do experts group in fewer, tighter clusters?' Paper presented at Australian and New Zealand Marketing Academy Conference, Fremantle, Australia, 3/12/05 - 7/12/05, pp. 319-324.

The joint effect of relevant/irrelevant information and expertise on the formation of market segments : Do experts group in fewer, tighter clusters? / Stevens, Laurie A.; Spence, Mark T.

2005. 319-324 Paper presented at Australian and New Zealand Marketing Academy Conference, Fremantle, Australia.

Research output: Contribution to conferencePaperResearchpeer-review

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AU - Spence, Mark T.

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AB - The purpose of this study was to illustrate the effect that expertise has in a product choice taskwhere the options contain relevant, idiosyncratic and irrelevant attributes. The overarchinghypothesis was that experts should group into a fewer number of segments than should novicesbecause the latter will overweight irrelevant information. To test this hypothesis the ratings ofeight products were analyzed first using conjoint analysis, and then the part-worth utilities weregrouped with a clustering algorithm to compare segments formed by experts and novices.Experts do group into fewer, more tightly packed clusters; however, the analysis does not showthat the segments for experts were purely driven by the relevant and idiosyncratic information.

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Stevens LA, Spence MT. The joint effect of relevant/irrelevant information and expertise on the formation of market segments: Do experts group in fewer, tighter clusters?. 2005. Paper presented at Australian and New Zealand Marketing Academy Conference, Fremantle, Australia.