Understanding PRIZM & EQ Market Segmentation
Through our partnership with the BC Regional Tourism Secretariat and Environics Analytics, Symphony has access to market data for each tourism region. If you are looking for general info about BC’s visitors, you’ve come to the right place.
What are PRIZM and EQ Market Segments?
PRIZM is Canada’s leading segmentation system for understanding customers and markets. Developed by Environics Analytics, PRIZM divides Canada into 67 segments based on postal codes that capture current demographics, lifestyles and values across the country. Each segment has details that help us understand more about where the visitors have come from, what they are like, what kinds of activities they typically do, their media habits, and more.
EQ is a market segmentation system based on the science of psychographics. Destination Canada worked with Environics Analytics to develop the Explorer Quotient traveller types to apply sophisticated, values-based segmentation specifically for the travel market (based on the PRIZM system). Psychographics is an evolution of the traditional field of demographics. Instead of just breaking travellers into groups based on age, income, gender, family status or education level—all of which is useful information—psychographics looks deeper at people’s social values and views of the world. EQ breaks each geographic market down into different psychographic groups, called Explorer Types. Each type is identified by particular characteristics stemming from social and travel values, travel motivations and behaviours.
How will it help my business?
Understanding current visitors and potential customers can help you achieve goals such as: expanding your seasons into fall, winter and spring; finding the right customer for new products, and speaking the language that resonates with potential customers most effectively.