Values Attitude and Lifestyle

Vals Values attitude and lifestyle December 18, 2011 by Hitesh Bhasin Vals which is withal cognize as values attitude and lifestyle is one of the primary ship canal to perform psychographic segmentation. All three terms be intangible in nature and therefore give an idea of the inert nature of the consumer. If you slam what your consumer is thinking, you would know what kind of promotions or communications will attract him most. And how do you know what the consumer is thinking? By determining his vals Values, attitudes and lifestyle. VALS is different for different pile.Lets believe income as an recitation. If you argon a person with eminent income your lifestyle would in all probability include habits of the SEC A furcate such as eat out of home frequently and that too in top class restaurants, wearing only branded clothes and buying the best cars out there. Whereas if you be a middle class income group consumer, you would be to a greater extent wary of outlay money and would rather constrict on savings. So now how does VALS affect a marketer? Lets say you were a banker. What would you dispense someone who had a full(prenominal) income lifestyle?You would sell them investment options and would also dedicate a relationship manager to take c be of their needs. In fact, the bankers also have a term for high income individuals known as HNI high networth individuals. But, if your lifestyle was that of a low income customer, you are more presumable to be targeted for savings History of the term VALS VALS is real a proprietorship term of SRI international. The term was developed by Social scientist and futurist Arnold mitchell. Arnold mitchell actually developed the vals framework to determine different classes of hatful who had varying values, attitudes and lifestyle.These deal were determined by the resources they had at their disposal as well as the amount of money of primary innovation they could lease or create. Thus the people with l ow resources were low on innovation and the ones with higher resources were higher in innovation. This formed the basis of the VALS framework. The VALS framework Image source SRI International As mentioned in the history of VALS, The VALS framework was developed keeping a consumers resources as well as his capacity to accept innovation in mind.The X axis consisted of primary demand (explained below)and the Y axis consisted of resources such as income, education, confidence etc. Thus these two factors were determined to be fine to define the values attitude and lifestyle of any consumer. Resources Included resources functional to an individual such as income, education, intelligence, emotional support, etc. Primary motivation Which determined what actually drives the individual. Is it friendship, the desire to achieve something or is it to be social.After researching preceding(prenominal) 1500 consumers, Arnold mitchell actually divided consumers into 9 different types based on the amount of resources they had as well as their capacity for primary motivation. These classes of consumers based on their VALS were. Innovators The class of consumer at the top of the vals framework. They are characterized by High income and high resource individuals for whom independence is very important. They have their own individual degustation in things and are motivated in achieving the finer things in life. Thinkers A well educated professional is an jumplent example of Thinkers in the vals framework.These are the people who have high resources and are motivated by their knowledge. These are the rational decision making consumers and are well informed around their surroundings. These consumers are believably to accept any social changebecause of their knowledge level. Believers The subtle difference between thinkers and believers is that thinkers make their own decisions whereas believers are more social in nature and hence also believe other(a) consumers. They are characterized by lower resources and are less likely to accept innovation on their own.They are the best class of word of express consumers. Achievers The achievers are mainly motivated by guess what Achievements. These individuals take to excel at their job as well in their family. Thus they are more likely to purchase a brand which has shown its success everyplace time. The achievers are said to be high resource consumers but at the same time, if any brand is rising, they are more likely to deal that brand faster. Strivers Low resource consumer group which wants to reach some execution are known as hard workers. These customers do not have the resources to be an achiever.But as they have values similar to an achiever, they fall under the striver category. If a striver can gain the necessary resources such as a high income or social status then he can move on to becoming an achiever. Experiencers The group of consumers who have high resources but also need a mode of self-importance looking at are known as Experiencers. Mostly characterized by young adults,it consists of people who want to experience being different. This class of consumers is filled up with azoic adopters who spend heavily on food, clothing and other youthful products and services.Makers These are consumers who also want self expression but they are hold in by the number of resources they have. Thus they would be more focused towards expression a better family rather than going out and actually spending higher amount of money. Making themselves into better individuals and families becomes a form of self expression for the Makers. Survivors The class of consumers in the Vals framework with the least resources and therefore the least likely to adopt any innovation. As they are not likely tochange their course of action regularly, they form into brand loyal customers.An example can include old age pension earners living exclusivelyfor whom the basic necessitiesare important and they are least likely to concentrate on anything else. Thus the vals frameworkcan be used mainly to classify consumers based on their values, attitudes and lifestyle. Once the classification has been done, you know which types of customers you want to target. Depending on your target customers vals, you can make up your marketing dodging and your promotional message such that it hits your audience at the right spot.