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.
|Number of pages||6|
|Publication status||Published - 2005|
|Event||Australian and New Zealand Marketing Academy Conference - Fremantle, Australia|
Duration: 3 Dec 2005 → 7 Dec 2005
|Conference||Australian and New Zealand Marketing Academy Conference|
|Period||3/12/05 → 7/12/05|
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.