TOPIC 2: SEGMENTATION TOOLS - Personal Application

As noted in Topic 2, market segmentation is difficult and requires a significant amount of market research, as well as data and expertise.There are companies that specialize in this and provide tools to assist the marketer with segmentation.Let's test drive a couple of those.

You may use your own ZIP code for this exerciseorthe ZIP code of 20783 for Adelphi, MD (UMGC).Use the ZIP Code look-upfor either service:

• Go to ERSI for Tapesty(r)https://www.esri.com/en-us/arcgis/products/tapestry-segmentation/zip-lookup
• Go to Claritas for PRIZM(r)https://claritas360.claritas.com/mybestsegments/
• If you used Esri, what are the top Tapestry(r) segments for this ZIP code? Name some characteristics to describe each segment in terms of behaviors, demographics, and psychographics.On Esri you may obtain a more detailed report about each segment by clicking on "Read More," then "Click for More Details."

If you used Claritas,what are some of the top PRIZM(r) segments for the ZIP code? Name some characteristics to describe each segment in terms of behaviors, demographics, and psychographics.On Claritas you may obtain more information by clicking on "Quick Facts" drop down arrow.

Discuss what the members of each your segments have in common that make them a viable segment.How would marketers make use of this information?Based on what you have learned this week about segmentation, do you think the tool you used provides valuable information?Why or why not?

use zip code 20904

TOPIC 4: Repositioning

Mature products sometimes need to be repositioned. Finding a new need for an existing product is usually a reason for repositioning. Many years ago, Arm & Hammer baking soda found a new market by repositioning the product for those wanting a clean-smelling refrigerator. The company did a similar repositioning when offering the product as a teeth whitener.

• Can you think of an existing product that has been repositioned by finding a new market with a different need than the original product? What is the product and how was it formerly targeted?What is the new target market and strategy?
• Or, can you think of a mature product that is ripe for repositioning?What ideas do you have for a new market for this product?