How tightly do you fit into a particular market segment? Do you think you can be neatly classified? If you think your purchasing habits make you an enigma to marketers, you may need to think again.
Instructions: Document your activities and exercise in this application exercise assignment. Keep good notes that you will submit as part of this assignment.
Purpose: This exercise quickly shows students the limitations of using only demographics to describe their customers, and really clarifies the process of segmentation and positioning for them.
Visit the following website located in this folder named: Segments
- Click on the link above and then type in your zip code. The database will generate many cluster descriptions based on your ZIP code. Depending on the functionality of the Web site at the time you access the database, you may need to reenter your ZIP code multiple times if you want to read all the cluster descriptions.
- Now review the demographic and psychographic data for the segments. Please provide insights on their lifestage, lifestyle, and others things that they like such as automobiles, music, health, books, magazines, beauty products, and income. Then think about which products in that category would appeal to each of the clusters generated by your ZIP code search. Please name 3 to 4 of the groups identified and provide feedback on similarities between the groups. For example, a car that appeals to a cluster titled “Young Bohemians” may not be the car of choice for the cluster “Pools and Patios.” If your search generated only one cluster type, you may wish to enter other ZIP codes for your area of town or for your region.
- Write a short statement that describes what you have learned about the most common segments for your zip code.