Acta Univ. Agric. Silvic. Mendelianae Brun. 2015, 63, 553-558

https://doi.org/10.11118/actaun201563020553
Published online 2015-05-10

Do Culture-based Segments Predict Selection of Market Strategy?

Veronika Jadczaková

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

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.

Funding

The author thanks to prof. Ing. Ladislav Blažek, CSc. for provision of the dataset gathered in the framework of the Centre of Research into the Competitiveness of the Czech Economy at the Faculty of Economics and Administration at the Masaryk University in cooperation with the market research firm Augur Consulting. Last but not least, the author would like to express special thanks of gratitude to Ing. Ondřej Částek, Ph.D. for his valuable insights regarding the questionnaire preparation. Finally, the author would like to thank to Mgr. Maria Králová, Ph.D. for providing technical advice on CCA and CORA.

References

22 live references