BUS330 Week 4 - Discussion 1 - Finding and Targeting Your People
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Finding and Targeting Your People
Geodemographic Segmentation: Finding Your People
Geodemographics is a common and effective means to segment potential customers. Leveraging both demographic (e.g., gender, age, income, marital status) and psychographic (e.g., habits, hobbies, spending habits, values) data, households can be classified into segments and the relative attractiveness of these segments for your product or service can be determined.
In this interactivity, you’re going to take a geodemographic system (Prizm Premier) and determine which segment best describes you. Then, exploring map data, you’ll assess how common your segment is for where you live and where you could live amongst more people like yourself! Finally, with knowledge of your segment’s profile, you’re going to suggest a promotion for your internship brand targeted specifically to your segment.
- Prizm Premier interactive tutorial (Links to an external site.)Links to an external site..
- Prizm Premier Lifestage Groups page (Links to an external site.)Links to an external site. and determine the following:
- You’ll note there are 68 segments. Fortunately these are broken into 11 lifestage groups that provide a more manageable starting point.
- Imagine you’re executing a targeted promotion. Tell us the product or service and deal that you will pitch your segment and justify its appeal.
- Feel free to package products or services together.
- Your Premier Prizm lifestage group
- Your Premier Prizm segment and the characteristics driving your choice
- The “popularity” index of your selected segment where you live
- The high indexing area for your segment that you've chosen and its value. Tell us what town is in your county that we might have heard of (or any other attraction).
- Your segment specific targeted promotional offer and rationale
- Find peers who picked a different segment than you. Argue why their identified product/service would be more, equally or less appealing to your segment. Peruse their segment’s summary page as necessary.
I Need Help! I Can Help!
Got questions about segmentation, Prizm or this assignment? Or maybe a helpful tip to share? Please post to our week 4 help forum, so others can benefit!