PRIZM
Geodemographic techniques combine data on consumer expenditures and socioeconomic variables with geographic information to identify commonalities in consumption patterns of households in various regions. PRIZM, which stands for Potential Ratings Index by ZIP Market, is a popular lifestyle analysis technique that was developed by Claritas. It is based on the premise that people with similar backgrounds and means tend to live close to one another and emulate each other’s behaviors and lifestyles. PRIZM combines demographic and behavioral information in a manner that enables marketers to better understand, and target, their customers. Their technique uses 66 different segments as descriptors of individual households, which are ranked according to socioeconomic variables.
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Have students explore the PRIZM segments at the Claritas website (www.claritas.com) and bring back information for discussion.
LO4. Comprehend the role of the self-concept in consumer behavior.
The Role of Self-Concept in Consumer Behavior
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Self-concept refers to the totality of thoughts and feelings that an individual has about him or her self. Self-concept can also be thought of as the way a person defines or gives meaning to his or her own identity, as in a type of self-schema.
According to the symbolic interactionism perspective, consumers agree on the shared meaning of products and symbols. Semiotics refers to the study of symbols and their meaning. An example of semiotics is the use of Facebook, MySpace, and Twitter.
Consumers have a number of self-concepts that occur over time. Various dimensions
of the self include the following:
1. Actual self ï€ Refers to how a consumer currently perceives his/her self (that is, who I am).
2. Ideal self ï€ Refers to how a consumer would like to perceive himself (that is, who I would like to be in the future).
3. Social self ï€ Refers to the beliefs that a consumer has about how others see them.
4. Ideal social self ï€ Represents the image that a consumer would like others to have about him or her.
5. Possible self ï€ Much like the ideal self and presents an image of what the consumer could become.
6. Extended self ï€ Represents the various possessions that a consumer owns that help him or her to form self perceptions.
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The cyber self could be the next defined dimension of the self. Due to the popularity of the Internet, almost ¾ of all teens and young adults online use social networking sites. They keep connected to their friends through status updates, but should be careful about how much information they post. It is important to keep in mind that information posted online can be accessed by people other than friends.
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