Market Segmentation

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    Market Segmentation - Presentation Transcript

    1. Solving Business Problems Through Marketing Solutions Customer Profiling Prizm Based Research Marketing Segmentation To Reach Presented by: Your Best Customer David Drewitz Owner, Creative Options Communication
    2. Solving Business Problems Through Marketing Solutions What Is Prizm? PRIZM is a comprehensive and scientific marketing research tool Designed to find commonality among the 300 million people and 166 million households in America Enables us to better understand their lifestyle choices and media habits Enables us to build a research-based, highly-targeted, and cost-efficient marketing plan. Based on the best market research available in the business to consumer market www.creativeoptionscommunications.com
    3. Solving Business Problems Through Marketing Solutions Benefits of Prizm? PRIZM benefits include:  Reduces the overall cost of research  Deepens the understanding of current customers  MRI information  Media habits  Purchasing patterns and preferences Provides customized mapping to where your known target audience lives States, DMA, cities, zip codes, neighborhoods, individual houses Individual household targeting www.creativeoptionscommunications.com
    4. Solving Business Problems Through Marketing Solutions Why Do We Use Prizm? We Can Tell You Where Your Customers Live  Down to the household level Enables us to build a research-based, highly targeted, and cost-efficient marketing plan  Based on the best market research available in the business to consumer market www.creativeoptionscommunications.com
    5. Solving Business Problems Through Marketing Solutions Prizm History PRIZM was created by Jonathan Robbin, a social scientist and computer expert, who in the 1970’s pioneered the computer-powered marketing technique called “geodemographics.” In 1971, Robbin started Claritas Corp. to build a cluster system of U.S. neighborhoods for marketing applications. PRIZM was developed in 1978 and is currently used by The Gap, Blockbuster, Mail Box Etc., Washington Mutual, Jenny Craig, 7-11, Sports Authority, US Army, American Express and Best Buy – to name a few. www.creativeoptionscommunications.com
    6. Solving Business Problems Through Marketing Solutions Who Uses Prizm? www.creativeoptionscommunications.com
    7. Solving Business Problems Through Marketing Solutions Prizm History How does PRIZM work? Potential Ranking Index for Zip Marketing www.creativeoptionscommunications.com
    8. Solving Business Problems Through Marketing Solutions How Does It Work? Utilizes sophisticated research to sort the US population into similar groups by demographics, psychographics, consumer patterns and media usage. Objective: Leverage this research to develop a model of predictability among the SCI clients within a DMA (Designated Market Area) Available by US, State, County, City, Zip Code, Census Track, Block-Group (375- 425 households) and Block (9-12 households) level www.creativeoptionscommunications.com
    9. Solving Business Problems Through Marketing Solutions How Does It Work? PRIZM categorizes every US household into 66 demographically and behaviorally distinct types, called “clusters." It helps us learn about their likes, dislikes, lifestyles and purchase behavior LIFESTAGE: FAMILY SOCIAL: SUBURBAN 13 Upward Bound – More than any other segment, Upward Bound appears to be the home of those legendary Soccer Moms and Dads. In these small satellite cities, upper-class families boast dual incomes, college degrees and new split-levels and colonials. Residents of Upward Bound tend to be kid-obsessed, with heavy purchases of computers, action figures, dolls, board games, bicycles and camping equipment. www.creativeoptionscommunications.com
    10. Solving Business Problems Through Marketing Solutions Where Does Prizm Get Data? Cross-References 70 Public and “Opt in” Databases US Census Bureau Nielsen Media Research US Bureau of Labor Statistics ADVO National Center for Health Statistics Gallup Newspapers Circulation JD Power U.S. Postal Service Polk Automotive Scarborough Research MRI Qualitative www.creativeoptionscommunications.com
    11. Solving Business Problems Through Marketing Solutions Prizm The BIG Idea Step 1: Identify your current customer(s) through the PRIZM methodology. Step 2: Learn the detailed information available about their lifestyle choices, media habits, consumer patterns, demographics and psychographics. Step 3: Market to those who are just like them, skip over those who aren’t. 05 Country Squires – The wealthiest residents in exurban America live in Country Squires, an oasis for affluent Baby Boomers who've fled the city for the charms of small-town living. In their bucolic communities noted for their recently built homes on sprawling properties, the families of executives live in six-figure comfort. Country Squires enjoy country club sports like golf, tennis and swimming as well as skiing, boating and biking. This is your customer. www.creativeoptionscommunications.com
    12. Solving Business Problems Through Marketing Solutions Prizm How The BIG Idea Works 05 Country Squires – The wealthiest residents in exurban America live in Country Squires, an oasis for affluent Baby Boomers who've fled the city for the charms of small-town living. In their bucolic communities noted for their recently built homes on sprawling properties, the families of executives live in six-figure comfort. Country Squires enjoy country club sports like golf, tennis and swimming as well as skiing, boating and biking. There are 200 TV Markets, 300 radio markets and 60,000 zip codes in the United States. www.creativeoptionscommunications.com
    13. Solving Business Problems Through Marketing Solutions Prizm A “Country Squires” Profile will act and behave the same in Pittsburgh, as they will….. “Country Squires” Make up 5% of the Pittsburgh DMA www.creativeoptionscommunications.com
    14. Solving Business Problems Through Marketing Solutions Prizm …in San Francisco! “Country Squires” Make up .01% of the San Fran DMA www.creativeoptionscommunications.com
    15. Solving Business Problems Through Marketing Solutions Prizm Conversely… “Bohemian Mix” Make up .98% of the Pittsburgh DMA But Remember… A “Bohemian Mix” Profile will act and behave the same in Pittsburgh, as they will….. www.creativeoptionscommunications.com
    16. Solving Business Problems Through Marketing Solutions Prizm …in San Francisco! “Bohemian Mix” Make up 27% of the San Fran DMA www.creativeoptionscommunications.com
    17. Solving Business Problems Through Marketing Solutions Prizm So What Does This Mean To You? Knowing your customers better than you ever thought you would! www.creativeoptionscommunications.com
    18. Solving Business Problems Through Marketing Solutions Prizm What if we knew the consumer behavior of this group? Would this help you make better marketing decisions? Country Squires are more likely to: Lifestyle : Go skiing (3.5x), business travel by airplane 3X year (3.45x) Shop at Ethan Allen Galleries (3.25x), Belong to a Country Club (2.52x) Media: Read Parenthood magazine (2.70x), Watch sports (2.52x), Listen to Alternative Rock Radio (2.3x), Watch American Idol (2.25x), Watch Disney Channel (2.10x), Listen to radio on the internet (1.92x) Psychographics: Spouse has influence on brands chosen (2.3x), Media most trusted – Newspaper (2.7x), Will buy on credit rather than wait (2.1 x), Prefer products with latest technology (1.4 x) www.creativeoptionscommunications.com
    19. Solving Business Problems Through Marketing Solutions Prizm – No Guesswork Know your marketing efforts are based on real data, habits & preferences. MRI Psychographics Based on Country Squires Segment Total Profile Target Group ('05') Users/100 Users/100 List Order MediaStyler Attribute Title Count Count % Total Index HHs HHs 0000 MRI Household Count (H) 113,668,003 2,192,590 1.93 2331 Media Trusted the Most: Internet (A) 31,938,652 28.10 1,037,187 3.25 47.30 168 2337 My Kids Have an Impact on the Brands I Choose,Agr (A) 83,212,588 73.21 2,533,858 3.05 115.56 158 2367 Spouse Has Impact on the Brands I Choose,Agr (A) 105,947,674 93.21 2,763,600 2.61 126.04 135 2296 Buying Electronics,Do As Much Research as Possible (A) 122,881,375 108.11 3,205,241 2.61 146.19 135 2350 Prefer Products With the Latest Technology,Agr (A) 120,152,959 105.71 3,118,251 2.60 142.22 135 2382 Will Buy on Credit Rather than Wait,Agr (A) 81,872,117 72.03 2,103,370 2.57 95.93 133 2384 Will Pay More for a Brand I Trust,Agr (A) 158,557,673 139.49 4,055,065 2.56 184.94 133 2302 Don't Have Time to Save Coupons,Agr (A) 101,097,968 88.94 2,562,854 2.54 116.89 131 MRI Radio Media Usage Total Profile Target Group ('05') List Users/100 Users/100 MediaStyler Attribute Title Count Count % Total Index Order HHs HHs 0000 MRI Household Count (H) 113,668,003 2,192,590 1.93 2468 Sports,Net Audience (A) 9,641,810 8.48 486,251 5.04 22.18 261 2471 Wall Street Journal Report,Net Audience (A) 8,277,977 7.28 323,424 3.91 14.75 203 2402 Listen Radio on Internet,1mo (A) 17,885,537 15.73 695,919 3.89 31.74 202 2438 News/Talk Radio,Net Audience (A) 24,944,701 21.95 950,197 3.81 43.34 197 2391 Alternative Rock Radio,Net Audience (A) 17,602,393 15.49 651,309 3.70 29.70 192 2390 All Talk,Net Audience (A) 8,222,470 7.23 274,353 3.34 12.51 173 2413 Listen Weekday,6am-10am,0.5-1.0 hrs (A) 74,095,067 65.19 2,346,495 3.17 107.02 164 www.creativeoptionscommunications.com
    20. Solving Business Problems Through Marketing Solutions Prizm – Shows You Where Customers Live Store MN102: Segment Distribution Based on Trade Area & Customer Top 14 Segments Segments MN102 By ZIP Code Variable Title Count % Comp Index 06 Winner's Circle 5,882 7.53 681 18 Kids & Cul-de-sacs 4,888 6.26 384 19 Home Sweet Home 4,453 5.70 310 17 Beltway Boomers 1,794 2.30 238 03 Movers & Shakers 2,956 3.79 234 02 Blue Blood Estates 1,623 2.08 212 05 Country Squires 2,142 2.74 142 04 Young Digerati 1,066 1.37 112 11 God's Country 1,174 1.50 96 There are 4,888 households in 07 Money & Brains 1,152 1.48 74 your area that are just like these 32 New Homesteaders 285 0.37 18 20 Fast-Track Families 38 0.05 3 12 Brite Lites, Li'l City 0.00 0 13 Upward Bound 0.00 0 Top 14 clusters 27,453 35.16 162 www.creativeoptionscommunications.com
    21. Solving Business Problems Through Marketing Solutions Prizm – Shows You Where Customers Live Lifestage Group Distribution TX102 Westlake - Austin, TX PRIZM NE TX102 Westlake TX102 Westlake Trade Area Lifestage Groups 0.00 - 3.00 mi Households % Austin U.S. Households % Austin U.S. DMA Index DMA Index Index Index Households by PRIZM NE Segment 27,910 12,298 Y1 - Midlife Success 3,767 13.50% 71 106 5,239 42.60% 224 336 11 God's Country 590 2.11% 48 129 1,640 13.33% 308 816 Y2 - Mainstream Singles 9,796 35.10% 211 339 333 2.71% 16 26 04 16 Young Digerati Bohemian Mix We reduced the number of likely households 1,793 6.43% 2,753 9.86% 454 403 518 542 0 0 0.00% 0.00% 31 Urban Achievers from 27,910 to 12,298 with people who are 4,562 16.35% 275 979 0 0.00% F1 - Accumulated Wealth 1.5 to 3.5 times111 215 2,298 8.23% more likely to be our 3,426 27.86% 378 728 05 Country Squires 680 2.43% 55 131 1,600 13.01% 295 704 customers than the general public. F2 - Young Accumulators 3,545 12.70% 129 166 275 2.23% 22 29 29 American Dreams We narrowed the focus! 3,306 11.84% 422 539 0 0.00% F3 - Mainstream Families 1,892 6.78% 58 58 125 1.01% 8 8 54 Multi-Culti Mosaic 1,789 6.41% 232 372 0 0.00% M1 - Affluent Empty Nests 3,400 12.18% 190 175 2,023 16.45% 256 236 07 Money & Brains 2,033 7.28% 462 356 0 0.00% www.creativeoptionscommunications.com
    22. Solving Business Problems Through Marketing Solutions Prizm – Heat Maps A bunch of your “Heat Maps” customers live here %Comp %Pen Index Quintile: 1 52.39 50.88 262 Quintile: 2 28.3 26.85 138 Quintile: 3 13.33 12.91 66 Quintile: 4 4.89 4.74 24 50.88% of the HH in these areas are defined one Quintile: 5 1.09 1.09 6 of your top “cluster” of customers. Very few of your customers live here www.creativeoptionscommunications.com
    23. Solving Business Problems Through Marketing Solutions Prizm – Zip Codes We break down where your target audience lives. Down to the individual house. Fort Worth, Texas = Zip code 76104 is home to customers that are 7 times more likely to be a customer. This zip code report shows you the top zip codes to conduct marketing. Zip Code Report based on Top 5 “Clusters” Ranked by Index Tarrant County, TX (County By ZIP) Base Target: JPS Top 5 Segments Code Name Count % Comp Count % Comp % Pen Index 76104 Fort Worth, TX 5,857 0.97 2,439 6.87 41.64 706 76105 Fort Worth, TX 6,959 1.16 1,946 5.48 27.96 474 76114 Fort Worth, TX 8,784 1.46 1,939 5.46 22.07 374 76119 Fort Worth, TX 14,074 2.34 2,944 8.30 20.92 354 76103 Fort Worth, TX 5,647 0.94 1,029 2.90 18.22 309 76110 Fort Worth, TX 10,584 1.76 1,772 4.99 16.74 284 76107 Fort Worth, TX 12,770 2.12 2,037 5.74 15.95 270 76106 Fort Worth, TX 9,397 1.56 1,462 4.12 15.56 264 76019 Arlington, TX 34 0.01 5 0.01 14.71 249 76115 Fort Worth, TX 5,981 0.99 794 2.24 13.28 225 76122 Fort Worth, TX 66 0.01 8 0.02 12.12 205 76116 Fort Worth, TX 23,175 3.85 2,416 6.81 10.43 177 76112 Fort Worth, TX 18,171 3.02 1,758 4.95 9.67 164 Quintile: 1 121,499 20.20 20,549 57.91 16.91 287 Example only www.creativeoptionscommunications.com
    24. We Get You Results www.creativeoptionscommunications.com If you want to increase revenue, improve your brand image and get your business more exposure, contact us today Creative Options 1152 Indian Run Drive #408 Carrollton, Texas 75010 Phone: 972-814-5723 www.creativeoptionscommunications.com daviddrewitz@yahoo.com

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