BUS 330 BUS330 Week 4 Discussion 1 Interactivity 1: Finding and Targeting Your People
BUS 330 Week 4 DQ 1 Interactivity 1 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.
What to Do (and How to Do It)...
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.
• Begin by perusing the Prizm Premier interactive tutorial.
o You’ll note there are 68 segments. Fortunately these are broken into 11 Lifestage Groups that
provide a more manageable starting point.
• Visit the Prizm Premier Lifestage Groups page and determine the following:
o The Lifestage Group and segment that best matches you o How common your segment is where you live
o Where you could move to find more of “your people”
If you are unsure how to do all of that, our step by step Prizm Premier Tutorial will help.
Create a promotion from your mentor marketer to target your segment.
o 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.
Publish a post to the forum below containing the following:
o YourPremierPrizmsegmentandthecharacteristicsdrivingyourchoice o The popularity index of your selected segment where you live
o 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).
o Your segment-specific targeted promotional offer and rationale • Provide feedback to three of your peers.
o Find peers who picked a different segment than you. Argue why their identified products/services would be more, equally, or less appealing to your segment. Peruse their segments’ summary pages as necessary.
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