It is defined simply as how one lives, and spends money. It is determined by our past experiences,innate characteristics and current situations. The products we consume are related toour lifestyle. Lifestyle marketing established a relationship between the products offered inthe market and targeted lifestyle groups.
Lifestyles segmentation is based on activities andinterest and opinions of groups. These are psychographic segmentations, and lifestyles arederived from psychographics. Lifestyle is a unified pattern of behaviour that determines consumptionand, is also in turn determined by it.
Demographic and psychographic lifestyles are complimentary and work best together.Demographic variables help marketeers “locate” the target market, and psychographics providesmore insight into the segment by taking into their activities interests and opinions.
Marketeers try to find out the activities, interests, and opinions of people by questionsto be answered on a rating scale. This is done to find out how strongly one agrees or disagreeswith the question.
Characteristics of Lifestyle
This is known as value and lifestyle segmentation and was introduced in 1978 by ArnoldMitchell. It provides a systematic classification of American adults into nine segments. Thesewere widely used. Despite its popularity, some managers felt that the nine segments given byVALS are not appropriate, as two of the segments cover one-third of the entire population,leaving the rest to be divided into 7 segments, which become too small to be of interest to manyfirms. These nine segments are
The figure shows four major groups or classfication:
A further break-up of these groups is shown in the figure, and their characteristics canbe described as given below:
These segments did not appeal to many marketeers and therefore, VALS 2 was introducedin 1989. This system has more of a psychological base than the original, which was moreactivity and interest based. VALS 2 is based on attitudes and values. It is measured by 42statements with which the respondents state a degree of agreement and disagreement.
It has identified three primary self orientations:
Principle oriented: They are guided by their beliefs and principles.
Status oriented: These individuals are heavily influenced by actions, approval andopinion of others.
Action oriented: They desire social and physical activity, variety and risk taking. These three orientations determine the types of goals and behaviours that consumerswill pursue, and the goods they will get interested in.
This classification is based on Maslow’s hierarchy of needs. At the bottom are the peoplewith minimal resources and, on the top we have people with abundant resources. This dividesthe consumer into 3 general groups or segments. Each of these segments have a distinctivelifestyle, attitude and decision-making. The figure shows their characteristics as wel. The eightsegments also differ in their resources and orientations. The resources possessed by those atthe bottom are very little and as we move upwards the resources increase. Besides money andphysical resources, people at the bottom lack in education, social resources, psychologicalresources and in self confidence. These studies were made on American people. The demographiccharacteristics like, age, income, occupation, role, religion, sex education, marital status caneasily be identified. However, it is more difficult to identify psychographic characteristics ofattitudes, beliefs, interests, benefits, lifestyle, etc. This can be done by VALS segmentation.
For a segment to be worthwhile, it must have a proper size, i.e., enough number ofpeople in the segment to make it feasible. It must be stable, so that the people belonging to asegment not only remain there, but the segment must also grow in size. The segment mustalso be accessible, so that the marketeer is able to reach the segment in an economical way.They can be reached through various media. Marketeers also are on the lookout for new mediathat can reach the audience with minimum waste, circulation and competition. The segmentshould be such that profits can be gained. By catering to a segment, profits must be ensured.Profits are the backbone of any organisation. The target segment has to be profitable.
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Consumer Behaviour Tutorial
Psychographic Or Lifestyle Segmentation
Concept Of Culture & Subculture
Cultural Variations In Non-verbal Communications
Family Buying Influences, Family Life Cycle And Buying Roles
Diffusion Of Innovation
Personality And Self Concept
Motivation And Involvement
Information Processing Learning And Memory
Attitude Development And Alternate Evaluation In Buying
Search And Evaluation
Purchasing Process And Outlet Selection
Purchase Behaviour (situational Factors)
Models Of Consumer Behaviour
Consumerism (public Policy And Consumer Protection)
Organisational Buying Behaviour
Changing Consumer Behaviour
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