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Claritas PRIZM Premier is a set of geo-demographic segments for the United States, developed by Claritas Inc., which was owned under The Nielsen Company umbrella from 2009 to 2016. PRIZM (Potential Rating Index for Zip Markets) Premier combines demographics, consumer behavior and geographic data for marketers.
Using demographics, a marketing manager can try to grasp what certain people think and what they are willing to buy. [1] By understanding how various characteristics of the population reflect their tastes, demographic marketers get an idea of the probability of the sales returns of a launched product in a given area.
A demographic profile is a form of demographic analysis in which information is gathered about a group to better understand the group's composition or behaviors for the purpose of providing more relevant services. In business, a demographic profile is usually used to increase marketing efficiency.
Psychographics is defined as "market research or statistics classifying population groups according to psychological variables" [1] The term psychographics is derived from the words "psychological" and "demographics" [2] Two common approaches to psychographics include analysis of consumers' activities, interests, and opinions (AIO variables), and values and lifestyles (VALS).
Demographic targeting is a form of behavioral advertising in which advertisers target online advertisements at consumers based on demographic information. [1]They are able to achieve this by using existing information from sources such as browser history, previous searches as well as information provided by the users themselves to create demographic profiles of consumers.
Below is a list of the largest consumer markets of the world, according to data from the World Bank. The countries are sorted by their household final consumption expenditure (HFCE) which represents consumer spending in nominal terms. [ 1 ]
A digital marketing audit is not a one-and-done type of task. It’s important to regularly monitor your performance metrics and let them tell you a story about how you need to adjust your strategy.
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...