St Edwards University Claritas Prizm Segmentation Tool & Market Processes Questions
I’m stuck on a Marketing question and need an explanation.
Birds of a feather flock together. This is the philosophy behind Claritas’ PRIZM lifestyle segmentation system. Operating under the presumption that people with similar lifestyles tend to live near each other, Claritas has classified neighborhoods into 1 of 66 categories based on census data, consumer surveys, and other public and private sources of demographic and consumer information. Companies use this geodemographic information to understand and target customers better, to develop the content for advertisements, to decide the specific media in which to place ads, to help decide where to put new stores, and to decide what kind of merchandise should go in those stores. Claritas offers a limited version of the PRIZM segmentation online.
Visit the website and respond to the questions located below the screenshot of the PRIZM website.
- Enter the 95361 as the zip code of where you live from the ZIP Code Lookup Link found by clicking on the “ENTER ZIP CODE” icon. Read about the descriptions for the different customer segments in your area that is highlighted in red.
- You should see a report similar to this image.
Answer these questions:
- Do you think it accurately describes your area?
- What are some products that might be successfully targeted to one of the most popular market segments in your area?
- How might businesses selling automobiles be able to use the Claritas PRIZM segmentation tool?
Please answer the 3 questions listed in the instructions below in a total of 300 to 350 words and APA format.
