03 May WHATS GOOD ABOUT THIS TYPE OF SEGMENTATION?
In order to develop effective communication solutions for clients, advertisers must understand the behavior of both current and potential consumers (i.e., what their interests are, where they live, where they shop, etc.). Chapter 5 of the textbook discusses several segmentation methods utilized by advertisers and marketers to help them understand their target audience. Another segmentation method used by advertisers is geodemography, which refers to analytical techniques that combine data on consumer expenditures and other socioeconomic factors with geographic information about the areas in which people live. In geodemography, zip codes are often used to identify consumers who share common consumption patterns.
Assignment Instructions:
Your assignment is to go to the website listed below, research information about a geographic location of your choice, and provide an analysis of your findings. The zip code you choose can be from your current house/apartment, your parents, your best friends, etc. However, in order to complete the analysis of the data, you should pick a zip code from a neighborhood you are very familiar with.
First, go to MyBestSegments: https://segmentationsolutions.nielsen.com/mybestsegments/Default.jsp?ID=70
This should take you to “Zip Code Look-up” page.
Select an analytic tool from the drop down box (i.e., PRIZM, P$YCLE, or ConneXions), and enter a zip code.
*NOTE: You also have to type in the security code and then click “Submit”.
When you type in the zip code, it will show several different segments that are common in that zip code (such as American Dreams, Bohemian Mix, Urban Achievers, etc.).
Your analysis must come from:
PRIZM – Consumer segments based on demographic, geographic, and consumer behavior.
AND from one of the following two tools:
P$YCLE – Consumer segments based on financial and investment behavior.
ConneXions – Consumer segments based on willingness to use/adopt new communication tools/media/technology.
Look over the information in the detailed descriptions given for your zip code (information can be found on the following links. *NOTE: Not all segments have both Social Group and Lifestage Group links.
Consumer Segment information (this is the starting point in each tool)
Social Group
Lifestage Group
Write-up Guideline (Expectations for Assignment)
Your goal for this assignment is to examine the lifestyle segments common in your chosen zip code and to determine whether they match your perceptions of the zip code. Further, in this assignment, you must assess the validity of geodemography and determine when this method is likely to be utilized. Specifically, you should provide answers to the following questions:
1) Do any of the segments you found for your zip code do a good job of describing this neighborhood or the people that live there? Do they seem to match your perceptions of the area? Which ones match and which ones seem different? Why? (Be specific based on a comparison of what you know about the area versus examples from the data).
*NOTE: The “TOP 5 Segments” for each zip code are listed in alphabetical order only. This “example tool” does not indicate which are the most common/least common.
2) Whats good about this type of segmentation? Discuss aspects of this type of data that could be helpful/beneficial for an advertiser when attempting to learn about a specific area.
3) Discuss aspects of this type of data that could be problematic for an advertiser when attempting to learn about a specific area. What does this technique really measure? What is it missing (if anything)? Can you think of a more effective way to segment by zip code? How could this technique be improved upon?
*NOTE: In your write-up, be sure to include the zip code you chose and why.
Format of Assignment
Make sure you have your name, assignment title, class title, and date on the top of the paper.
This paper should be typed (12 point font), double spaced, and written in paragraph style. It should be 2-3 pages long on a standardized paper (8.5″ x 11″).
Please do not forget to proofread. Your assignment should be free of grammar, usage, and spelling errors.
Submit to D2L Zip code Analysis folder by scheduled due date (see checklist for due date)
Paper must be a word document or rich text file. No PDFs will be accepted
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.