SRI VALS

Psychographics is commonly known as study of 'lifestyle' of consumers.

It plays an important part in building consumer behavior and helps in the

promotion of those products and services which are related to items of personal
care, fashion, automobiles, telephone services, alcoholic drinks, news papers,
magazines, food products like milk, tea, coffee (which are sold by brand names)

In a country of the size of India where life style differs widely from region to
region the study of consumer psychographic is of great significance to
marketer.

The life style depends not only on the regions but also on ones profession

The life style also depends upon health, weather, culture, economic, social,
political factors and demographic Inferiority and superiority complex also
influences psychology and the buying habit

Psychography is a science, which studies all the activities, interest and opinions
of consumers through surveys, observations, personal discussions and using
various statistical and econometric tools.

Psychographics Vs Demographics

Demographic variables help marketers locate their target market and

psychographic variables provide the marketer with more insight about the
segment.

Psychographics is, in common parlance, lifestyle analysis or AIO research.

In its most widely practiced form, a psychographic study consists of a long list of
statements designed to capture relevant aspects of a consumer, like personality,
hinting motives, interests, attitudes, beliefs and values.

VALS II

In a more recent development on lifestyle and value system.

SRI now offers findings from a very comprehensive study, termed the VALS-2.

The VALS-2 typology draws heavily on Maslow's need hierarchy and tries to
explain the lifestyle orientation of the various segments based on the values
sought by each of them in their life.
VALS-2 typology classifies the population into 3 major consumer groups-

the principle oriented,

the status oriented, and

the action oriented.

These are then further sub-divided into eight distinctive lifestyle segments.

The three major segments as noted above are defined in terms of self
orientations of people.

The principles oriented represent consumers whose choices are governed by

their beliefs rather than their need for other peoples, approval.

The choices of status oriented consumers, on the other hand, are directed by the
action, approval and opinion of other people.

The action oriented consumers are those who are motivated by a need for social
or physical activity, variety and risk bearing
The eight sub-divisions that these major self orientations have been divided into
also differ in terms of their resources.

Resources in this typology have been defined as physical, psychological, and

demographical factors that become enabling variables in consumer]s choice
making behaviour.

The principle oriented people

● Fulfilled
● Believers

Fulfilled

Fulfilleds are mature, satisfied, comfortable, reflective people who value order,
knowledge. and responsibility.

Most are well educated, and in (or recently retired from) professional
occupations.

They are well-informed about world and national events and are alert to
opportunities to broaden their knowledge.

Content with their careers, families and station in life, their leisure activities tend
to center on their homes.

Fulfilleds tend to base their decisions on strongly held principles and

consequently appear calm and self-assured.

Although their incomes allow them many choices, Fulfilleds & are conservative,
practical consumers: they are concerned about functionality, value, and durability
in the products they buy.

Believers

Believers are motivated by ideals.•

They are conservative, conventional people with concrete beliefs based on

traditional, established codes: family, religion, community and the nation.•

They follow established routines, organized in large part around home, family,
community and social or religious organizations to which they belong.•

As consumers, Believers are predictable; they choose familiar products and

established brands.

They favour American products and are generally loyal customers

Believer Buys MercuryLocal TV News Old and trusted Brands like Bata, Rin etc.
The status oriented people have been further subdivided into 4 classes

• Actualizers

• Achievers

• Strivers

• Strugglers

Actualisers

Actualizers are successful, sophisticated, active, "take-charge" people tend high

self-esteem and abundant resources.

They are interested in growth and seek to develop, explore, and express
themselves in a variety of ways-sometimes guided by principle, and sometimes
by a desire to have an effect to make a change

Image is important to Actualizers, not as evidence of status or power, but as an

expression of taste, independence, and character

Actualizers are among the established and emerging loaders in business and
government, yet they continue to seek challenges.

They have a wide range of interests, are concerned with social issues, and are
open to change.

Their lives are characterized by richness and diversity. Their possessions and
recreation reflect a cultivated taste for the finer things in life.

Achievers

These consumers are the high-resource group of those who are motivated by
achievement.

They are successful work-oriented people who get their satisfaction from their
jobs and families.

They are politically conservative and respect authority and the status quo.

They favor established products and services that show off their success to their
peers.

Buy: HONDA, Louis vitton

Strivers

These consumers are the low-resource group of those who are motivated by
achievements.

They have values very similar to achievers but have fewer economic, social, and
psychological resources.

Style is extremely important to them as they strive to emulate people they

admire.

Buy : Honda , Chevorlet

Strugglers

These consumers have the lowest incomes.

They have too few resources to be included in any consumer self-orientation and
are thus located below the rectangle.

They are the oldest of all the segments, with a median age of 61.

Within their limited means, they tend to be brand-loyal consumers.

• Brand loyal

• Use coupon

• Watch for sales

• Read woman magazine

• Least resources

The action oriented segment

• Experiencers

• Makers

Experiencers

These consumers are the high-resource group of those who are motivated by
self-expression.

They are the youngest of all the segments, with a median age of 25.
 They have a lot of energy, which they pour into physical exercise and social
activities.

They are avid consumers, spending heavily on clothing, fast-foods, music, and
other youthful favourites, with particular emphasis on new products and services.

Makers

These consumers are the low-resource group of those who are motivated by
self-expression.

They are practical people who value self-sufficiency.

They are focused on the familiar-family, work, and physical recreation-and have
little interest in the broader world.

As consumers, they appreciate practical and functional products.

USE THE WORD DOC POINTERS TO SOLVE CASE STUDY

SRI VALS segment ( USE FOR CASE STUDY )

Principle oriented Status oriented Action oriented

Fulfilled Achievers Experiencers
No interest in image Attracted to premium Follow fashion and
Above average products fads
Consumers of Target for variety of Spend on socialising
products for the products Buy on impulse
home Average TV watchers See ads
Widely read Read business and Listen to music
self help magazine Are the first to try out
new products
Believers Strivers Makers
Slow to change Image conscious Shop for comfort &
habits Limited income but Value
Looks for bargain have credit balance
Watch TV a lot Spend on clothing
Read – general Prefer TV to reading Not impressed by
interest magazines luxuries , home
mechanics

BOARD QUESTION BANK ( 2007 TO 2013)

• Oct 2007

Explain how a marketer will use SRI VALS II segmentation to sell the services of
a new – opened – Health food restaurant .

Which consumers segment should be targeted ?

How will the Health food restaurant be positioned to these target groups?

Oct 2008

SRI VALS ( SHORT NOTE )

OCT 2009

Explain SRI VALS market segmentation in brief

Identify the segmentation base that you consider best or targeting consumers for
the following products:

1) Instant coffee

2) Ready made soup

3 )Non – fat frozen yogurt

OCT 2010

Explain how a marketer will use SRI VALS II segmentation to sell a new brand of
expensive designer watch.

What will be the targeting and positioning strategy used by the company to sell
the product in South Mumbai market ?

April 2012

Identify and justify the segmentation base using SRI VALS that you consider best
for targeting customer for the following products :

1) Oats 2) 3G Mobile Phone3) Designer Garment

 Oct 2012

Explain the classification of SRI VALII Segmentation.

Nov 2013

Diagrammatical representation of SRI VALS ( SHORT NOTE ) ( PL DRAW THE

CASE STUDY POINTERS)