NEWS SOURCE: ScanUS Inc.
SANTA MONICA, Calif. /Send2Press Newswire/ — Scan/US, Inc. (www.scanUS.com) ships MOSAIC(R) Profiler, a software system with a full range of MOSAIC(R) and demographic databases, which delivers profiling of lifestyle clusters/segments.
Using this tool, a business can develop a broad understanding of customer segments, knowing only customer household locations. Based on the fact that birds of a feather not only flock together, but also watch television commercials and shop together, MOSAIC(R) combines a wide range of income, population, housing, and household behavior data with statistical analysis. The result: a sixty-segment system presented in 12 standard market groupings with descriptive names like “Affluent Suburbia,” “Blue Collar Winners,” and “Major Market Cores.”
Different market segments will act differently when encountering new products, promotions, and retail placements.
Effective segments are defined using statistical research tools: with MOSAIC, this work has already been done.
One strength of statistical cluster analysis, and MOSAIC(R) in particular, is that you’re not forced to target one “best” segment and discard all the others.
In fact, the Scan/US MOSAIC(R) Profiler gives you the basis for a broader view: how each segment might react to a product price, promotion, or special offer. With this knowledge a company can craft a strategy to bring the best response from each segment.
How the Scan/US MOSAIC(R) Profiler works:
Starting with your file of customer locations (geographic coordinates, or Zip-9, or Census block codes), Scan/US MOSAIC(R) Profiler summarizes all MOSAIC(R) clusters which match the locations in the file.
This MOSAIC(R) profile of your customer list shows the household total for each MOSAIC(R) segment. The profile is easily compared with other profiles or regional benchmarks using the MOSAIC(R) Cluster Benchmark Profile report in the Scan/US Subscription mapping application (included).
The Scan/US MOSAIC(R) LifestylePro subscription and MOSAIC(R) Profiler is $6,995, and includes MOSAIC(R) and demographic data at every geographic level, in addition to profiling.
“Up to now you had to spend upwards of $30,000 on cluster data alone,” says Scan/US president Ken Needham. “You didn’t even get mapping software. Now anyone can zoom in and examine MOSAIC(R) clusters grid by grid in any US neighborhood. Plus they can make segment-based customer profiles from all their customer lists.”
Something to remember when upgrading from demographic analysis to MOSAIC(R) segment-based analysis, is that market subgroups aren’t necessarily segments. A segment can be broader than a subgroup.
For example, the subgroup of women aged 22 to 35 may not be a market segment. A subgroup is considered a market segment or cluster only when it differs from other groups in needs, values or desires.
Segment assignment using just age or income isn’t optimal: family type, work, home owning, family origin, and location all play a part in household purchasing patterns.
A wide range of variables are used as inputs to the MOSAIC(R) system,
leading to superior segment differentiation:
Population variables: population by age and sex; by race and Hispanic origin; educational attainment and enrollment, marital status, group quarters population by type; place of birth, foreign born by year of entry. Population density, MSA size, and distance to MSA center are also used.
Household characteristics used to create MOSAIC(R) include households by type and presence of children, household size, age of head of household, language spoken, linguistic isolation, residence in 1995 (indicating stability), years of tenure, vehicles available.
Housing variables used: Dwellings by “owned, rented, vacant”; median housing value, contract rent, median contract rent, units in structure, year built, median dwelling age, mortgage status (no mortgage, first only, first and second), year moved in.
Household and other income statistics: Households by income, type of income median income, per capita income, median income by age, income/poverty ratio.
Job variables: Labor force participation rate, workers in family, employment by occupation and industry, labor force status (including military) by sex, class of worker (private corporation, federal government, unpaid family, etc.), commute travel time, home worker. Veteran status.
The Scan/US MOSAIC(R) Profiler can be used to identify opportunities in each segment, match products and services to the kind of customer each particular target segment contains, create a customized marketing plan for each targeted segment, and, for each segment, increase profitability of customers and increase the customers retained in that segment.
Scan/US, Inc., introduced easy and affordable desktop demographic mapping in 1992 and continues to be the premier data/cartography provider of updated demographics for site selection in the United States.
Scan/US is located at 1919 Santa Monica Boulevard, Santa Monica, California, 90404. For more information visit: www.scanUS.com.
Scan/US LifestylePro/MOSAIC(R) Profiler requires a Windows computer.
MOSAIC(R) is a registered trademark of Experian. All other trademarks acknowledged.
News issued by: Scan/US, Inc.
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Original Story ID: (67) :: 2005-01-0126-001
Original Keywords: LifestylePro, MOSAIC, Scan/US, Scan US, demographics, software, market segment, segments, demographic databases, lifestyle clusters, profiling, Major Market Cores, statistical analysis Scan/US, Inc.
NEWS SOURCE: ScanUS Inc. | Published: 2005-01-26 08:59:00
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