CONSUMER VALUES AND LIFESTYLES

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 Values are believed to provide the motivation
for buying.
 Tend to be abstract so their impact on
consumer behaviour is quite indirect.
 The way in which consumers use product and
services in a certain area to attain their values
is called consumer lifestyle.
 Marketing point of view:- Different types of
consumers have to be addressed in different
ways.
 Lifestyle is thus a useful tool for segmentation.

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CONSUMER VALUES

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VALUES

 Values:
 Shared beliefs or cultural norms about what
is important or right.

Cultural values directly influence how

Consumers view and use individual
products, brands, and services.

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 Examples of values include:

 Honesty- Telling the truth and not trying to mislead

others.

 Integrity- Being a person who can be trusted and

relied on by others.

 Fair dealing- Not taking advantage of others or

ripping people off.

 Consideration of others. Respecting and having

concern for the welfare and feeling of others.

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FORMATION OF VALUES
 Culture- Practices and traditions formed for survival and
identity influence decisions
 Mass media- Movies, television, radio, the Internet and
other mass media all contribute to what is acceptable and
fashionable.
 Upbringing- Family and the conditions of one's childhood
are the largest contributors to forming values. Parents
teach children what is acceptable to do.
 Religion- The beliefs of a consumer influence their decision
tremendously.
 Peer pressure- Conforming to the social expectations
causes people to make certain choices.

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MEASUREMENT OF VALUES

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RVS-VALUE MEASUREMENT

 A study created by ROKEACH known as

Rokeach Value Survey (RVS) measures two
types of values from consumer’s point of view
1. Instrumental Values affecting code of conduct
-
ambitious,broadminded,capable,cheerful,cour
ageous,forgving,helpful,honest,obedient,self-
controlled

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2. Terminal values affecting end-state of
existence –
a comfortable life, an exciting life, a world at
peace, a world of beauty, family security,
equality, freedom, happiness, self-respect,
social recognition.

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 BELIEFS AND
PRODUCT ATTITUDES
TERMINAL
CLASS COICE ABOUT PRODUCT
VALUES
CRITERIA CLASS

PRODUCT CLASS
SELECTION
----------------------------
BRAND SELECTION

BELIEFS AND
INSTRUMENTAL
BRAND CHOICE ATTITUTES
VALUES
ABOUT BRANDS

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LIST OF VALUES

TO ESTABLISH RELATIONSHIPS BETWEEN

VALUES AND CONSUMPTION

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1. Self respect
2. Security
3. Warm relations
4. Accomplishment
5. Self –fulfillment
6. Well-respected
7. Sense of belongingness
8. Enjoyment

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 Researchers using both LOV and RVS have
found that differences exist based on values
held by consumers.
 For e.g People giving more importance to the
value of self-fulfillment tend to search for
activities(products) that serve to this value the
most.

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BUYING A CAR

 SOCIAL RECOGNITION- Brand, Color, Style,

Accessories
 SECURITY – Centre locking, Theft alarms,
Tracking systems.
 Self-fulfillment – Cost, comfort

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VALS –VALUES AND LIFESTYLES
 VALS is a marketing tool that segments the
consumer marketplace on the basis of the
personality traits that drive consumer behavior.
 VALS applies in all phases of the marketing process
i.e 1.New-product development 2.Entry-stage
targeting 3.Communications strategy 4.
advertising.

CAUSE
PERSONALITY
EFFECT
MOTIVATE/TRIGGER BUYER BEHAVIOR
TRAITS

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 The VALS System divides consumers into eight categories
according to their consumer behavior, these categories are:

1. Innovators
2. Thinkers
3. Achievers
4. Experiencers
5. Believers
6. Strivers
7. Makers
8. Survivors

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INNOVATORS

 TRAITS- successful, sophisticated, high self-esteem, change

leaders, most receptive to new ideas and technologies.

 AS CONSUMERS- Active consumers, purchases reflect

cultivated tastes for upscale, niche products and services.

 PRODUCTS THEY BUY- Image is important to Innovators, as an

expression of their taste, independence, and personality. Their
lives are characterized by variety.

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THINKERS

 TRAITS- motivated by ideals, mature, satisfied, comfortable,

and reflective people who value order, knowledge, and
responsibility.

 AS CONSUMERS- conservative, practical consumers; well

educated and actively seek out information in the decision-
making process, well informed.

 PRODUCT THEY BUY- Open to consider new ideas, they look for
durability, functionality, and value in the products they buy.

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ACHIEVERS

 TRAITS - Motivated by the desire for achievement, goal-

oriented, committed, focused .They value consensus,
predictability, and stability over risk, intimacy, and self-
discovery.

 AS CONSUMERS - With many wants and needs, Achievers are

active in the consumer market.

 PRODUCTS THEY BUY - Image is important; favor established,

prestige products and services that demonstrate success to
their peers.

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EXPERIENCERS
 TRAITS- Young, enthusiastic consumers

 AS CONSUMERS - Experiencers are avid consumers and spend

a comparatively high proportion of their income on fashion,
entertainment, and socializing.

 PRODUCTS THEY BUY - seek variety and excitement, savoring

the new, the offbeat, and the risky.

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BELIEVERS
 TRAITS - Motivated by ideals. They are conservative,
conventional people with concrete beliefs based on established
codes of community, and social or religious organizations to
which they belong.

 AS CONSUMERS – Predictable consumers; they choose familiar

products and established brands.

 PRODUCTS THEY BUY- They favor INDIAN products and are

generally loyal customers.

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STRIVERS
 TRAITS - trendy and fun loving, concerned about the opinions
and approval of others. Money defines success for Strivers,
who don't have enough of it to meet their desires.

 AS CONSUMERS - Active consumers because shopping is both

a social activity and an opportunity to demonstrate to peers
their ability to buy. They are as impulsive as their financial
circumstance will allow.

 PRODUCTS THEY BUY- Favor stylish products that emulate the

purchases of people with greater material wealth..

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MAKERS

 TRAITS- Makers are motivated by self-expression, express

themselves, practical people who have constructive skills and
value self-sufficiency

 AS CONSUMERS - Makers are suspicious of new ideas and

large institutions such as big business. They prefer value to
luxury.

 PRODUCTS THEY BUY- Unimpressed by material possessions

other than those with a practical or functional purpose.

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SURVIVORS
 TRAITS- Live narrowly focused lives, believe that the world is
dynamic. They are comfortable with the familiar and are
primarily concerned with safety and security.

 AS CONSUMERS- Survivors are cautious consumers. They

represent a very modest market for most products and services

 PRODUCTS THEY BUY - They are loyal to favorite brands,

especially if they can purchase them at a discount.

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