Marketing and Clarita's PRIZM System

Essay by EssaySwap ContributorUniversity, Master's February 2008

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Three products that would vary across these three clusters are a car, magazines and clothes. The marketing mix for each one of these products would have to be changed significantly since the main characteristics of these clusters are very different from each other. For the blue blood estates a car would have to be marketed as having a very high quality, be made of expensive material and amenities that would not necessarily be needed but would allow the consumer to be more comfortable. It would have to be very well designed. The price would have to be high with very little discounts; distribution would be done in selective markets only, advertising would be targeted to the wealthy population of society. For the towns and gowns the car would be priced moderately lower than the price of the blue blood estates cluster. It would be made of less expensive material, and it would be marketed to a bigger audience.

For the Hispanic mix cluster it would be necessary to emphasize low cost, durability and size of the vehicle, discounts would likely be used to sell to this cluster. To market a magazine for the towns and gowns it would utilize different aspects of the marketing mix compared to the blue blood estates, the magazine would be aimed at pop culture, it would include anything that is popular in that particular society. It would be priced moderately low and be distributed widely, throughout varying number of locations. The Hispanic mix cluster would use a slightly different variety of the marketing mix, for example the target market would be younger people in their 20's, situated mostly in urban areas. They would likely have a blue collar job and therefore earn less that the other clusters.

6.

The strengths of Carita's PRIZM system are that it combines detailed demographics with product, media and lifestyle preferences to create of the people living in those neighborhoods. It is a very reliable in the sense that it can group together groups of people that share a common interest therefore making it easier for marketers to pinpoint the location of prospective costumers; it also allows the marketer to view mapped sections of where these potential customers live. This is possible because the PRIZM system uses the US postal service code to determine where each individual person resides, and using the assumption that people in one neighborhood tend to be the similar.

7.

Selling the product according to its geographic capabilities implies that the sales staff would focus on segmenting the population, by region. This would be best done by focusing in the major market areas because they tend to be denser in population as opposed to rural areas which could be divided freely. A strong point of selling the product geographically is that the segments can be clearly defined, and a drawback might be that the segment is too broadly defined. By focusing on offering the product to an industry group the sales and client service staff, the company should emphasize its service staff and their ability to work the each industry to meet the need and demand of each individual group. For the company to focus on product oriented service its sales staff will look to provide varying degrees of information on each product the company will be working with. A strength of offering product services is that the product will be very well segmented and the marked very much defined. The weakness would depend on how many products the company can maintain appropriately up to date.