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Week 4 Lecture
Chapter 7 of the course text, Principles of Marketing
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 discussion forum, youre going to take the geodemographic system Claritas (Links to an external site.) and determine which segment best describes you. Then, exploring map data, youll assess how common your segment is for where you live and where you could live among more people like yourself! Finally, with knowledge of your segments profile, youre going to suggest a promotion for your internship brand targeted specifically to your segment.
Instructions
Part 1
Visit the Claritas ZIP Code Look-Up (Links to an external site.).
Enter your zip code and hit submit.
Review the information including the Households by Income, Household Composition, Population by Age, and Population by Race & Ethnicity.
Discuss, in detail, to what extent does this information match you and your household and how common your segment is where you live.
Part 2
Now its time to think deeper about segmentation and targeting to market your proposed product or service for your internship company.
Visit the Claritas Segment Details (Links to an external site.)
Once you click on the Narrow segments filter, you see a list of demographic, geographic, and lifestyle crtiteria for segmention to turn on or off.
Turn on a few filters that match best to your target markets to see narrower segment categories.
From the narrower selection, click on one or two of the segments and review the information.
Explain how the segment fits as a target for your proposed product or service.
What are the lifestyle and media traits of that segment?