Marketing Research Resources for Less: Part 1

September 25, 2012 at 4:03 pm

by David De Rosa

BDI’s attendees, sponsors, speakers all come together to network. Many of our speakers’ presentations provide primary and secondary research that was conducted on various strategic platforms. A common theme of these presentations is to “reach the correct target”. This is a vital goal to every marketer. With the use of secondary research, marketers are enabled to deliver their message to the appropriate audience(s) without spending time or money on conducting primary research. As the Marketing Promotion & Research Coordinator for BDI, I am hoping to inform you of available online resources to use for your own consumer insights. Consumer insights are imperative and there are a few resources out there that are free or inexpensive, such as Nielsen’s MyBestSegments.

The Nielsen Company’s free geo-demographic database is available online and provides consumer insights researched using Nielsen’s PRIZM, P$YCLE, and ConneXions segmentation systems. Each system identifies your target(s) by postal code.

  • PRIZM is geographically focused.
  • P$YCLE is financially focused.
  • ConneXions is technologically focused.

To access the free information, simply input your desired postal code and the database will provide the segment(s) that are identified within that area. For example, my hometown’s zip code is 08081.

Under the PRIZM Segmentation System, the area is home to the following audiences.

  • 17 Beltway Boomers
  • 36 Blue-Chip Blues
  • 18 Kids & Cul-de-sacs
  • 30 Suburban Sprawl
  • 06 Winner’s Circle

For example, if you were a warehouse retail store conducting a competitive analysis, you would search geographically to determine where potential locations may be desired. The “Beltway Boomers” is a target that may be seen shopping at a warehouse retail store. Using the system, I was able to determine additional information on this target:

  • Among The Affuentials and Young Accumulators social groups
  • Ethnically diverse
  • College graduates
  • 45-64 years old
  • HHI: $75,635
  • Have young children
  • Drives 4 door mid-sized sedan
  • Buys electronic games

MyBestSegments also provides a brief description of each market segment. Below is the description of “Beltway Boomers”:

“The members of the postwar Baby Boom are all grown up. One segment of this huge cohort–college-educated, upper-middle class, and home-owning–is found in Beltway Boomers. Like many of their peers who married late, these Boomers are still raising children in comfortable suburban subdivisions, and they’re pursuing kid-centered lifestyles.”

Brands can analyze their consumers and determine whether or not this area has a potential to become profitable. Use MyBestSegments to learn about your targets’ age, income, household, lifestyle preferences, and social groups. Also, additional neighborhood, household, lifestyles, and media details and usage are available for purchase.

Stay tuned for future Research Resources blogs that will cover additional free research resources such as MRI+, GoogleAnalytics, and JigSaw. I will also post “how to” blogs on survey creation and analysis.

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