Finding teen market segments using k-means clustering
Interacting with friends on a social networking service (SNS), such as Facebook, TikTok, and Instagram, has become a rite of passage for teenagers around the world. Having a relatively large amount of disposable income, these adolescents are a coveted demographic for businesses hoping to sell snacks, beverages, electronics, entertainment, and hygiene products.
The many millions of teenage consumers using such sites have attracted the attention of marketers struggling to find an edge in an increasingly competitive market. One way to gain this edge is to identify segments of teenagers who share similar tastes, so that clients can avoid targeting advertisements to teens with no interest in the product being sold. If it costs 10 dollars to display an advertisement to 1,000 website visitors—a measure of cost per impression—the advertising budget will stretch further if we are selective about who is targeted. For instance...