Do Culture-based Segments Predict Selection of Market Strategy?

Veronika Jadczaková
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Veronika Jadczaková: Department of Demography and Applied Statistics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2015, vol. 63, issue 2, 553-558

Abstract: Academists and practitioners have already acknowledged the importance of unobservable segmentation bases (such as psychographics) yet still focusing on how well these bases are capable of describing relevant segments (the identifiability criterion) rather than on how precisely these segments can predict (the predictability criterion). Therefore, this paper intends to add a debate to this topic by exploring whether culture-based segments do account for a selection of market strategy. To do so, a set of market strategy variables over a sample of 251 manufacturing firms was first regressed on a set of 19 cultural variables using canonical correlation analysis. Having found significant relationship in the first canonical function, it was further examined by means of correspondence analysis which cultural segments - if any - are linked to which market strategies. However, as correspondence analysis failed to find a significant relationship, it may be concluded that business culture might relate to the adoption of market strategy but not to the cultural groupings presented in the paper.

Keywords: market strategy; business culture; B2B; segmentation; psychographics; multivariate statistical techniques; predictability (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:mup:actaun:actaun_2015063020553

DOI: 10.11118/actaun201563020553

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