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Finite Mixture Models

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Handbook of Market Research

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Abstract

Finite Mixture models are a state-of-the-art technique of segmentation. Next to segmenting consumers or objects based on multiple different variables, Finite Mixture models can be used in conjunction with multivariate methods of analysis. Unlike approaches combining multivariate methods of analysis and cluster analysis, which require a two-step approach, the parameters are then directly estimated at the segment level. This also allows for inferential statistical analysis. This book chapter explains the basic idea of Finite Mixture models and describes some popular applications of Finite Mixture models in market research.

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Authors and Affiliations

  1. Marketing Center Münster – Institute for Value-based Marketing, University of Münster, Am Stadtgraben 13-15, 43143, Münster, Germany

    Sonja Gensler

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  1. Sonja Gensler
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Correspondence to Sonja Gensler .

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Editors and Affiliations

  1. Department of Business-to-Business Marketing, Sales, and Pricing, University of Mannheim, Mannheim, Germany

    Christian Homburg

  2. Department of Marketing & Sales Research Group, Karlsruhe Institute of Technology (KIT), Karlsruhe, Germany

    Martin Klarmann

  3. Marketing & Sales Department, University of Mannheim, Mannheim, Germany

    Arnd Vomberg

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Gensler, S. (2022). Finite Mixture Models. In: Homburg, C., Klarmann, M., Vomberg, A. (eds) Handbook of Market Research. Springer, Cham. https://doi.org/10.1007/978-3-319-57413-4_12

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