What is geodemographic classification?

What is geodemographic classification?

A geodemographic classification is essentially a grouping of geographical neighbourhoods, or other small areas, in terms of their social and economic characteristics. A key reason to do this is that there may be links identified with these geodemographic classifications of areas and other processes.

What is geodemographic profile?

Geodemographics are consumer segmentation models created by aggregating demographic attributes within a specific geographic area. Variables related to age, gender, education level, income, and more reveal lifestyle segments that can be applied to marketing, retail planning, and site selection analyses.

What are examples of Geodemographics?

Famous geodemographic segmentation systems are Claritas Prizm (US), CanaCode Lifestyles (Canada), PSYTE HD (Canada), Tapestry (US), CAMEO (UK), ACORN (UK) and MOSAIC (UK) system. New systems targeting subgroups of the population are also emerging.

What is geodemographic segmentation example?

Geodemographic segmentation in marketing relies on the following assumptions of consumer behavior: E.g. Snow shovels for removing snow will be sold to colder geographic areas rather than to consumers in the tropical belt. 2. People from same neighborhoods will have similar characters even when widely separated.

What is geodemographic analysis?

Geodemographic classification has been defined as ‘the analysis of people by where they live’ (Sleight, 1997: 16); it involves categorical summary measures that aim to capture the multidimensional characteristics of both built and socio-economic characteristics of small geographical areas.

What is a geodemographic classification of consumers?

Geodemographic classification is an in-depth study of people and locations. It attempts to provide accurate and detailed descriptions of UK consumers and the areas where they live. People who live in the same location are much more likely to have similarities than two people picked at random from different areas.

Why geodemographic segmentation is important?

Optimum utilisation of resources: Geodemographic segmentation ensures that there is no waste of time or resources. Once the target is known, steps of marketing are taken accordingly. There is no waste on the trial and error method where there is no surety of what is going to work and what isn’t.

Why is Geodemographics useful?

Based on these principles, geodemographic segmentation helps to infer the characteristics and likely behaviour patterns of the residents in each area, with the additional benefit that the geographical locations of neighbourhoods and segments are known and reachable.

What is geodemographic segmentation quizlet?

Geodemographic Segmentation. Segmenting potential customers into neighborhood lifestyles categories. Benefit Segmentation. The process of grouping customers into market segments according to the benefits they seek from the product.

What is usage segmentation?

Usage rate segmentation divides consumers according to how much they use a product. They are divided into groups of non-users and light, medium, and heavy product users, and companies often seek to target one heavy user rather than several light users.

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