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Segmentation for TEST & CONTROL strategies
The TEST & CONTROL strategy is a popular strategy of the Marketing world used to compare sales across different schemes to measure the effectiveness of each individual scheme/campaign.
I've got about 100 regions, which I'll need to split into 3 groups of similar characteristics in terms of sales, redemptions & transactions along with other factors if any, in the region.
What is the way by which I can make sure that I have at hand, three groups which are very similar in characteristics? A random sampling will not mostly work, since there is no specification of similarity of measures. Is there an alternative?
I've got about 100 regions, which I'll need to split into 3 groups of similar characteristics in terms of sales, redemptions & transactions along with other factors if any, in the region.
What is the way by which I can make sure that I have at hand, three groups which are very similar in characteristics? A random sampling will not mostly work, since there is no specification of similarity of measures. Is there an alternative?
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