Chapt 6 Ass

Chapt 6 Ass - 1 Identify TWO specific PRIZM segments you...

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1. Identify TWO specific PRIZM segments you will target. Use the data from the zip code look-up you did in the mini- lecture (be sure to use the zip-code where your business is located). For this question, please provide a description of each segment. SUMMARIZE the lifestyles, demographics, and briefly incorporate the info in the social group and life stage group data. All this is found in each segments profile on the site. My business is located in Henrietta and area zip code is 14623. According the website, there are five different segments living in this area. My choice of two is: Young Influentials and Home Sweet Home. Here is description of these two grouts. Young Influentials Young Influentials group: middle-class singles and couples without kids. They age approximately under 35. This group divided on Social group (Middleburbs) and Lifestage group (Young achievers). Statistically their median house holds income about $47,976 and they are just 1.46% of US households. This group is graduated from college and now they are living in apartment complexes. They lifestyle is very active. Most of them live in neighborhood surrounded by ball fields and health cubs. Lifestyle trails show us that they play racquetball; buy rap, alternative, easy listening music; vibe magazine, and Mazda 3 car. Also they visit nightclubs and casual-dining restaurants and shop at midscale department store. Home Sweet Home This group includes Social group (Affluentals) and Lifestage group (Midlife Success). Home Sweet Home tends to be
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upper-middle-class, with income $66,124, married couples with kids. This group is mostly under 55. They are college graduates, and now they have comfortable lifestyle with a lot of high technology toys. According the statistics most of them are own the houses. They live a very active life: mountain biking, aerobic exercise and travel, also they are a big fans of health foods. 2. For EACH of the two segments, discuss how you will offer different things with your marketing mix (the 4 P's) to appeal to them? (BE SPECIFIC! For example, McDonald's offers happy meals for kids/families and a dollar menu for the budget conscious. Movie theatres have senior citizen discounts and play areas for children. For each segment, try to think of how it might affect product, price and promotion. Remember, your mix MUST support your value proposition. (See part 3) The first group of Young Influentials They lifestyle is very active. I’m assuming that most of them are going to be the members of ESL sport centre. For this group I would offer discount card on beverages and food in my coffee shop (“The same for less”). It would not affect the product quality, but it would give the small reduce of price, which would be beneficial for customers and for business. The second group is Home Sweet Home
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Chapt 6 Ass - 1 Identify TWO specific PRIZM segments you...

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