Journalism 201 1st Edition Lecture 21 Outline of Last Lecture I. Defining Strategic GoalsII. The “What”III. Target MarketingIV. Why Segment?V. DemographicsVI. GeographicsVII. PsychographicsOutline of Current Lecture II. Prizm and ValsIII. PrizmIV. VALSV. What do PRIZM and VALS tell us?VI. Aperture in Advertising Current LectureI. Prizm and Valsa. Tools for drawing insights of of demographics, geographics and psychographicsb. Development of consumer profilesc. Necessarily a simplification of complex human thought and action; reductionist d. But potentially usefulII. Prizma. Potential Ratings Index for Zip Marketsb. Created by Claritas, 1974c. Makes use of US Census data by zip coded. Combined with market research data (credit reports, home ownership, credit card use)e. Data Aggregation: taking multiple data sets and combining them to create more in depth profiles on peoplef. Classifies zip codes according to “lifestyle code”III. VALSa. “Values and lifestyles”b. Developed at Stanford, 1978c. Psychographic profilesd. Distills psychologies into 8 essential types These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.e. Gives insight into how different consumers see themselves, and their approach to lifeIV. What do PRIZM and VALS tell us?a. PRIZM: Where is your target market?i. (Geographically) What do they do/read/watch/think/buy?b. VALS: How do your consumers relate to the world?i. How are they likely to relate to your product?ii. How can you craft your message to reach them?V. Aperture in Advertising a. 5-Step Strategic Thinkingi. What you do with all those great insights about your audience?b. Strategic Successi. Reaching the right target at the right time in the right place with the right messageii. By good research and clear goal-setting we have selected the “right target”iii. Now it’s time for right time…right place…(Media Strategy)iv. Monday: the right message (Creative Strategy)c. Right Time and Right Placei. Referred to as “aperture”d. “Right Time”i. When are people going to be in the mood for your product?ii. Considerations1. Time of day (good for impulse purchases)2. Seasonal3. Special Events4. Associated
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