Customer Satisfaction and Product Clustering for Gen Next Customers- A Multivariate and Simulation Study

Developing marketing strategies for serving gen next customers has become vital and complex in the current times. This paper studies 'product clustering' as a marketing strategy to improve customer satisfaction of gen next customers. The relationship between product clustering and customer satisfaction is studied using multivariate statistical tools. Further, using cluster analysis techniques, customer satisfaction has been used as a criterion to develop product clusters. The complexity of product clustering has also been highlighted by conducting a Monte Carlo simulation. The paper shows that appropriate product clustering is indeed crucial in serving gen next customers better.