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Adapting Marketing Strategies to Evolving Consumer Segmentation and Technology

This article explores the evolution of marketing in the context of improved technology and consumer segmentation. It highlights key questions marketers must consider: Who buys from me? What will they buy? Where can I find them geographically? How can I communicate with them effectively? The historical development from neighborhood-based segmentation in the 1970s to modern techniques focusing on individual households demonstrates the shift in approach. With new media channels emerging, it's vital for marketers to adapt their strategies to engage targeted audiences through various screens whenever and wherever they may be.

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Adapting Marketing Strategies to Evolving Consumer Segmentation and Technology

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  1. Consumers on the MoveImproved technology should help marketers reach prospects- Wherever Tracy Hasson Cory Eisele Arnan ????? HAHA

  2. Background • Improved technology • Segmentation of consumers • Core marketing questions: • Who buys from me? • What are they going to buy? • Where can I find them geographically? • How can I best communicate with them? • Beyond who what where how, and add the when and “what screen”

  3. Where We Started • 1970, Jonathan Robbin created Prizm (Potential Ratings in ZIP Markets) • First geodemographic segmentation system • Labeled each neighborhood geodemographic segment code and every record on a customer database could be tagged with segment codes. • Based on census data and applied to entire neighborhoods • Average number of houses in census block is 600

  4. What Has Changed • Advances in computing technology, data quality and statistical techniques • Emphasis has gone from neighborhoods to individual households • Demographics with household accuracy • Segment codes for each household can be updated every time the database is updated • Once a month to once a year

  5. What Has Changed • Change in emphasis allows marketers to identify when households migrate from one life-stage cluster to another • Consumer behavior media preferences change with life-stage migration

  6. Looking to the Future • As new media channels proliferate and mature, marketers must balance choice of targeted households and media selected to reach them • “All three screens” • Computer • Cable Television • Wireless

  7. Looking to the Future • Computer • Right now most online advertising is random • Personic X cookie • New technology to improve targeting • Applies cookie to household segmentation system • Television • “Directcast” versus “broadcast” • Still needs to figure out which ads will go through which pipes

  8. Looking to the Future • Wireless • Knowing life-stage segment to deliver targeted content whenever and wherever that person happens to be • Marketers will need to know predictive and descriptive characteristic of subscriber looking for info, as well as info that’s applicable to where they are at any given moment

  9. Very Relevant Clip

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