Environics Recently Launched PRIZM, a New Consumer Segmentation System

question 111

Essay

Environics recently launched PRIZM, a new consumer segmentation system. Explain what PRIZM is intended to do and how a marketer such as Loblaws grocery stores could use a system like it.

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Definitions:

Screening Mechanism

A method or process used to filter or select candidates or options based on set criteria or standards.

Screening

The process of evaluating or assessing something for a specific purpose, such as identifying suitable candidates for a job or detecting diseases.

True Risks

Genuine uncertainties and potential for loss that are inherent in decisions or activities, without assurance of outcomes.

Low Deductible

Refers to insurance policies with a smaller initial amount paid out of pocket by the policyholder before the insurance coverage kicks in, typically leading to higher premiums.