Objective: Segmentation of the market is the need of the hour as producer is always searching best consumer for its product. That incorporates here as objectives of study.
Methods/Statistical Analysis: Three hundred consumers have been selected from different major market destination of Anand district. Income of the consumer, household size, distance from the market, prefer day of consumption and per quantity purchase were the variables that considered for market segmentation determination. Cluster analysis technique has been used here, where both hierarchical cluster and k mean cluster were applied. Significance of different variables was considered through Analysis of Variance procedure.
Findings: There are three clusters formed in this study. Consumers of higher cluster are one and half times more than the small cluster. Each cluster compiles variables like household Size (demographic variable), Purchase quantity in kg and Prefer day of purchase (Behavioural variable) and Distance from market (Geographic variable). Here income of consumer has no significance in cluster formation. Distance from the market is a major variable that makes the market in to different segment in a significant way. From the different higher household consumer travels more distance for purchasing of Inland fish. Second and third cluster consumers purchase Inland fish in early part of week; preferably Sunday and Monday, whereas first cluster consumers purchase the same in last part of the week; preferably Friday and Saturday. It shows Inland fish market concentrates only for four days majorly in study area. These findings are different as it is segmented the market through different clusters. Findings though 5% Level of significance erase any biasness and sample findings resemblance with population parameters and result generalize the findings. Cluster analysis is a data reduction, exploratory based multivariate techniques. It improves the validity of results.
Application/Improvements: Designing market segmentation with effective tools and technique will find the best consumer for the best product of the poor producers that shape the market a new shape.