VALUES AND LIFESTYLE

BRIJITH DS S3 MBA CIMAT

VALS

Psychographic Segmentation

Divides a population into groups that have similar psychological characteristics, values, and lifestyles Lifestyle: peoples decisions about how to live their daily lives, including family, job, social, and consumer activities The most common method for developing psychographic profiles of a population is to conduct a large-scale survey: VALS and VALS 2. Values and Lifestyles

VALS ("Values, and Lifestyles")

proprietary

research methodology used for psychographic market segmentation created by the SRI international in 1978 an attempt to understand peoples personality through their behaviors amid the changing values and lifestyles in 1970s

 The

original VALS system was built by consumer futurist Arnold Mitchell, trying to explain changing U.S. values and lifestyles in the 1970s. Originally, there were three categories of consumers: Need-directed. Consumers who make purchasing decisions based solely on need. Outer-directed. Consumers who make purchases based on their perceptions of the way others view them. Inner-directed. Consumers who make purchasing decisions out of some inner need.

 VALS

was redefined to maximize its ability to predict consumer behaviour in 1989. By using psychology to analyze and predict consumer preferences and choices, the current VALS system creates an explicit link between personality traits and purchase behaviour. The system identifies current and future opportunities by segmenting the consumer marketplace on the basis of the personality traits that drive consumer behaviour

VALS classifies consumers on the basis of two dimensions

self-orientation (primary motivation)
Ideals (principle-oriented consumers): those who are guided in their choices by abstract, idealized criteria (quality, integrity, tradition); Achievement (status-oriented consumers): those who are guided in their choices by the expected reactions, concerns, and desires of groups to which they belong or aspire to belong; Self-expression (action-oriented people): those who are guided in their choices by a desire for social or physical activity, variety, and risk taking;

resources:

refers to the full range of psychological, physical, demographic, and material means and capacities people have to draw upon (age, education, income, self-confidence, energy, intellectualism, novelty seeking, innovativeness, impulsiveness, etc);

 VALS
INNOVATORS

High Resources High Innovation

Self-Expression

Primary Motivation Ideals Achievement

THINKERS

ACHIEVERS

EXPERIENCERS

BELIEVERS

STRIVERS

MAKERS

Low Resources Low Innovation SURVIVORS

15-10

VALS

Consumer Segment: Innovators

Resources: highest Motivation: combination of all three Leading edge of change Image as expression of taste, independence, character Finer things in life

15-11

VALS

Consumer Segment: Thinkers

Resources: high Motivation: ideals Mature, responsible Well-educated professionals Well-informed Rational decision makers Open to new ideas and social change

15-12

VALS

Consumer Segment: Believers

Resources: low Motivation: ideals Conservative, predictable Favor American products Modest incomes Lives centered on family, church, community, nation

15-13

VALS

Consumer Segment: Achievers

Resources: high Motivation: achievement Successful, work-oriented Satisfaction from homes and families Conservative, respect status quo Favor established products that show off their success

15-14

VALS

Consumer Segment: Strivers

Resources: low Motivation: achievement Values similar to Achievers Style is importanttrying to emulate Achievers

15-15

VALS

Consumer Segment: Experiencers

Resources: high Motivation: self-expression Youngest segment High energyphysical and social activities Spend heavily on clothing, fast food, and music Like new products and services

15-16

VALS

Consumer Segment: Makers

Resources: low Motivation: self-expression Practical, self-sufficient Focus on familiar: family, work, physical recreation Little interest in broader world

15-17

VALS

Consumer Segment: Survivors

Resources: lowest Motivation: doesnt fit with any of the three, resources too low Oldest segment Tend to be brand loyal