What Is PRIZM

question 184

Multiple Choice

What is PRIZM?

• A) a software program for classifying consumers psychographically
• B) a method of dividing the United States into 66 manageable submarkets
• C) a way to identify the importance of ethnic origin to the proposed target market
• D) a software program for storing purchase habit data
• E) the method of market segmentation used by businesses in the service industry

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Definitions:

Cognitive Approach

A method in psychology that focuses on understanding how people process information, think, and learn, emphasizing mental functions.

Socialization

The process by which individuals learn and adopt the customs, values, and behaviors appropriate to their society or social group.

Values

Core beliefs or principles that guide and motivate attitudes and actions in individuals and organizations.

Norms

The informal understandings that govern the behaviors of members of a society or group, often guiding acceptable and expected actions.