Nielsen PRIZM Survey
1. PRIZM is a lifestyle segmentation system that is used as a tool to provide important insights about the traits of potential consumers, which includes socioeconomic rank, key demographics, urbanization class, as well as behavioral information about the consumer’s spending patterns, preferences in shopping, interests or hobbies, and media as well. The PRIZM tool also groups these consumers into different segments based upon these traits that they have in common.
2. The results of my Zip Code lookup reveals information about the consumers in the area and displays the top five segments for that particular location, which includes, “Upward Bound”, “Up-and-Comers”, “Young & Influential”, “Striving Selfies”, and “Generation …show more content…
The PRIZM system can be an advantage for companies who are developing marketing plans. The main reason for this is not only because of the fact that the tool can be used to explore different segments and learn about different types of consumers and what they have in common with other consumers, but it can also point the company to the right location of these potential consumers. The tool describes in detail the purchasing behavior of the consumer, listing their preferences in products, habits or hobbies, purchasing power based upon their household income, and how they prefer to do their shopping, whether it is online or in person. These lifestyle, media, and demographic traits that are assessable through the PRIZM system provides the company with the opportunity and advantage to see what type of consumer would be most interested in their product and where their product would be most successful, based upon the demand, needs, and household income of the consumers. For example, the Upward Bound segment group has an above average interest in technology and these type of consumers frequently purchase products online, being that this information is available, a company that specializes in technology can easily market their products in this particular area to this particular group and appeal to these type of consumers by also making their product available for purchase online. Marketers have an advantage of learning about potential consumers in different areas and developing …show more content…
The picture I placed to the right is an example of one of the costumes that was on display in the store. There were nearby signs all around the store that served as a reminder that Halloween is approaching and majority of the signs had children on it themselves, for example, the costume in the picture on the right has a child who is wearing a Star Wars costume.
The costumes in the store were geared towards children and marketers knew that the signs would grab attention by being surrounded by all the Halloween decorations and candy that was out on display. This is why many children in the store were constantly rushing their parents to see the
1. PRIZM is a lifestyle segmentation system that is used as a tool to provide important insights about the traits of potential consumers, which includes socioeconomic rank, key demographics, urbanization class, as well as behavioral information about the consumer’s spending patterns, preferences in shopping, interests or hobbies, and media as well. The PRIZM tool also groups these consumers into different segments based upon these traits that they have in common.
2. The results of my Zip Code lookup reveals information about the consumers in the area and displays the top five segments for that particular location, which includes, “Upward Bound”, “Up-and-Comers”, “Young & Influential”, “Striving Selfies”, and “Generation …show more content…
The PRIZM system can be an advantage for companies who are developing marketing plans. The main reason for this is not only because of the fact that the tool can be used to explore different segments and learn about different types of consumers and what they have in common with other consumers, but it can also point the company to the right location of these potential consumers. The tool describes in detail the purchasing behavior of the consumer, listing their preferences in products, habits or hobbies, purchasing power based upon their household income, and how they prefer to do their shopping, whether it is online or in person. These lifestyle, media, and demographic traits that are assessable through the PRIZM system provides the company with the opportunity and advantage to see what type of consumer would be most interested in their product and where their product would be most successful, based upon the demand, needs, and household income of the consumers. For example, the Upward Bound segment group has an above average interest in technology and these type of consumers frequently purchase products online, being that this information is available, a company that specializes in technology can easily market their products in this particular area to this particular group and appeal to these type of consumers by also making their product available for purchase online. Marketers have an advantage of learning about potential consumers in different areas and developing …show more content…
The picture I placed to the right is an example of one of the costumes that was on display in the store. There were nearby signs all around the store that served as a reminder that Halloween is approaching and majority of the signs had children on it themselves, for example, the costume in the picture on the right has a child who is wearing a Star Wars costume.
The costumes in the store were geared towards children and marketers knew that the signs would grab attention by being surrounded by all the Halloween decorations and candy that was out on display. This is why many children in the store were constantly rushing their parents to see the