Using the PRIZM System to Assess Marketing Segments for Denver, Colorado

940 Words Jan 11th, 2018 4 Pages
Through research, marketers divide potential customers into groups based on common sets of characteristics. These traits pinpoint similar professions, income levels, geographic groups, lifestyles, aspirations and perceptions. When companies target more than one segment, they practice multi-segment marketing. Some firms sell the same product to more than one segment due to its mass appeal, while others manufacture several product lines that appeal to distinctive groups. The purpose of this essay is to highlight and describe the marketing segments for the area of Denver, Colorado. To demonstrate the usefulness of this practice, Neilson's PRIZM software we bill used to test the validity of its claims. This tool segments useful demographic information to help target consumers and make commercial exchange that much more manageable. PRIZM has 66 clusters that describe Americans by incorporating demographics, geographical and behavioral data. Many types of industries use this information such as newspapers, banks, political campaigns, retail stores and anyone else looking to refine their marketing approach towards segmentation. The PRIZM system has many different types of segments, but present five predominate ones for my zip code. It appears that I have similar traits to some of each one of these segments and understand how some of the products designed for my segment are…