Segmenting Business Markets
Prior to completing this assignment, read Chapter 7. This threaded discussion assignment will concentrate on geodemographic and psychographic segmentation. You will find information about these subjects within your textbook.
Part 1: To experiment with geodemography, use Clarita’s geoclustering tool (https://claritas360.claritas.com/mybestsegments/) Click on the “Zip Code Lookup” tab at the top of the page. Use your current zip code ( My zip code: 20784). you will be able to examine a description of each of the PRIZM clusters that Clarita’s reports for your zip code. You may find it helpful to print each PRIZM cluster profile or copy it into a Word document for analysis, because you must re-enter your zip code each time you view a cluster. After analyzing all of the PRIZM clusters for your zip code, report on your findings. List the clusters by name than answer the following quesitons.
⦁ Do you feel that the clusters adequately describe the people of your zip code?
⦁ Which cluster did you feel came closest to describing you?- Household by income, population by age, population by Race&enthnicity
⦁ In what ways did the PRIZM cluster description match you? -Talk about population by raceðnicity, Most people who live in this community are African American. I agree to the household income, most people who lives in this community make between $50-75K
⦁ In what ways did it not match you? Household composition
⦁ How might a company use geodemography to aid in its segmentation and targeting?
To experiment with psychographic segmentation, discover what VALS type you are by going to http://www.strategicbusinessinsights.com/vals/presurvey.shtml and taking the VALS Survey.
My VALS Type Survey Result:
Report on your primary and secondary VALS segment profile (provide the description, not just the segment name).
⦁ Do you think the results of the survey accurately describe you? Yes. Why?
⦁ From a practical standpoint, how might a company use VALS?