Nielsen PRIZM Marketing Segment

NIELSEN PRIZM MARKETING SEGMENT

NielsenPRIZM Marketing Segment

NielsenSegmentation offers an ideal platform for the evaluation of a marketby linking consumer behaviors to shopping, financial, media and howmuch powerful insights gained. PRIZM joins demographic, customerconduct, and geographic information to help advertisers distinguish,comprehend and achieve their clients and prospects (Wrenn et al.,2010). P$YCLE characterizes each U.S. family unit as far as 66demographically and behaviorally different sorts, or &quotsections,&quotto help advertisers observe those buyers` preferences, aversions, andways of life and buy practices. Utilized by a great many advertisersinside Fortune 500 organizations, P$YCLE gives the &quotbasicdialect&quot for showcasing in an undeniably various and complexAmerican commercial center.

Characteristics

WithP$YCLE division advertisers can better comprehend their clients andprospects, and achieve them with customized messages and itemsoutlined only for them. Caught by infectious monikers, pictures andbehavioral previews that bring the portion to life for advertisers,PRIZM portions are paramount and compress complex customer profilesin a manner that is instinctive and simple to communicate (Wrenn etal., 2010).. P$YCLE’s segments are numbered as per financial rank(which considers qualities, for example, wage, instruction,occupation and home estimation) and are assembled into 11 life stageGroups and 14 Social Groups. P$YCLE Social Groups are focused aroundurbanization and financial rank (Zikmund &amp Babi, 2013). P$YCLELife stage Groups are focused around age, financial rank, and thevicinity of youngsters at home. P&ampYCLE can give expansivecombination of a solitary client idea in light of the fact that itcan be coded onto almost any bit of client information and isaccessible on a wide system of heading review, board, advertisingestimation and rundown databases in the U.S.

Mostcommon segments for 47408

Middlescale older mostly w/o kids

Theymostly referred to as financially unsophisticated which means thatthey do not encompass the elite class in the society. Most of theindividuals in this group are apartment dwellers and middle incomeearners. However, one important thing about this group is thatdespite the middle income they are able to gather a huge portion ofassets for themselves throughout their working period. Most of thesepeople prefer to go online whenever they want to do their shopping.The group is well known for its adventurous behaviors (travelling,skiing, whitewater rafting and backpacking) (Zikmund &amp Babi,2013).

UpperMiddle Age

Theseindividuals are sometimes termed as corporate climbers owing to theirbehaviors and trends on trying to build careers. They are mostly agedbetween 35 to 54 years of age due to their concentration on careerbuilding they prefer remaining childless and unmarried for a longtime. To maintain their often busy lives they are compelled to usecredit liberally and carrying high end credit cards with hugebalances (Zikmund &amp Babi, 2013). Their behaviors explain theirlives, for instance they like reading self-help books, watchingadvisory movies and subscribing on business journals.

Upperscale Younger

Thisgroup of individuals encompasses young couples and singles who arefinancially inexperienced. Unlike the Upper middle age individualsthe upper scale younger does not have a saving mind on theutilization of the income they receive. Aged between 24 to 44 years,they do not encompass high value assets that may come as a form ofsaving in their lives. Many of these individuals tend to carry hugeloans in order to maintain their adventurous lives.

Upperscale Younger family mix

Thisgroup is normally termed as online living, owing to their kind ofbehaviors. This group comprises of individuals aged between the agesof 25 to 44 years most of them being single, couples and withfamilies that rank the highest in the stock market. Most ofindividuals in this group live in suburban areas, own their homes andhave enough income to support them. Generally what makes this groupis their ability to utilize the internet as a source of livelihood.

References

Wrenn,B., Kotler, P. &amp Shawchuck, N. (2010). Building StrongCongregations : Attracting, Serving, And Developing Your Membership.Hagerstown, MD: Autumn House Pub.

Zikmund,W. &amp Babin, B. (2013). Essentials of Marketing Research.Australia Mason, OH: South-Western Cengage Learning.