As promised, today we hope to shed some light on commonly used Zanola terminology that you may have run into in our market studies, or on our blog or website.
PRIZM Segments: Generally speaking, these are groupings of households by common characteristics. Through data compiled by Nielsen Claritas, PRIZM is the industry-leading lifestyle segmentation system reveals customer preferences through comprehensive consumer insights. Through combining demographics, consumer behavior, and geographic data PRIZM segments help companies identify, understand, and reach customers and prospects. PRIZM defines every U.S. household in terms of 66 demographically and behaviorally distinct types, or “segments,” to help discern consumers’ likes, dislikes, lifestyles, and purchase behaviors. Zanola interprets these PRIZM segments to enable clients to have a deeper understanding of housing demand.
Census Population: Residents recorded per the most recent U.S. Census.
Non-Census Population: Residents needing housing but not included in the most recent U.S. Census.
Total Effective Population: The sum of Census Population and Non-Census Population.
Mapping Perspectives: A section used in all of our studies, the Mapping Perspectives heading includes regional and local maps relevant for the client’s market area. Local mapping perspectives establish views of key geographic locations, transportation routes, accessibility attributes, new housing development areas, employment growth areas, and mapped demographics data.
Demographics Focus: Demographics, the quantifiable statistics of a given population, is a huge part of each Zanola research study. The Demographics Focus section in each Zanola Company research study includes PRIZM and Census population data, as well as local resources available for demographics information. The section details current and foreseen population and household factors as the foundation for understanding of current and forecast housing needs for the client’s market area. Zanola takes demographics data within the focus section and compares and analyzes available data from the various sources to understand housing needs.
Any other Zanola lingo you want defined? Contact us!
By Rachel Ballard