https://github.com/akashkg03/ev-market-segmentation-analysis

This notebook involve Market segmentation analysis on EV
https://github.com/akashkg03/ev-market-segmentation-analysis

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This notebook involve Market segmentation analysis on EV

• Host: GitHub
• URL: https://github.com/akashkg03/ev-market-segmentation-analysis
• Owner: Akashkg03
• Created: 2024-04-30T11:05:32.000Z (7 months ago)
• Default Branch: main
• Last Pushed: 2024-04-30T11:16:09.000Z (7 months ago)
• Last Synced: 2024-04-30T12:47:49.557Z (7 months ago)
• Language: Jupyter Notebook
• Homepage:
• Size: 983 KB
• Stars: 0
• Watchers: 1
• Forks: 0
• Open Issues: 0
• Metadata Files:
  • Readme: README.md

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README

        
## EV-Market-Segmentation-Analysis

### Problem Statement

- This Objective of this analysis is to understand perception on India's electric vehicle market so that which vehicle category can be profitable business. The analysis focuses on behavioural segmentation derived from sales data, customer reviews (encompassing behavioral and psychographic data), and technical specifications of electric vehicles. Our objective is to employ these insights to effectively segment the market and recommend target segments for our electric vehicles.

### CONCLUSION

- This project presents a comprehensive analysis of India's electric vehicle market, focusing on segmentation derived from sales data, customer reviews, and technical specifications. The study highlights the robust growth trajectory of India's two-wheeler market, establishing it as a primary revenue source. Utilizing behavioural variables from customer reviews, a rigorous market segmentation analysis was conducted employing the standard k-means algorithm. The analysis effectively partitioned the market into four distinct segments. In the context of selecting the most optimal market segment for our electric two-wheeler vehicles, thorough analysis and evaluation have pointed to Segment 1 as the ideal choice. Representing 39% of consumers, this segment boosts significant opportunities and a large customer base, making it a strategic target for market penetration. 

- In summary, our in-depth analysis of India's electric vehicle market led us to identify Segment 1 as the optimal target. With a significant 39% consumer base, this segment represents a substantial market opportunity. By tailoring our electric two-wheeler specifications to meet the preferences of this segment, we ensure this product align seamlessly with the demands of a large customer base. This strategic decision is grounded in a thorough understanding of market segmentation, consumer behavior, and technical specifications.