Consumer Values and Lifestyles

CONSUMER VALUES AND
LIFESTYLES
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.
CONSUMER VALUES
Values
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.
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.
FORMATION OF VALUES
Culture- Practices and traditions formed for survival and identity

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
Religion- The religious beliefs of a consumer influence their decision tremendously
Peer pressure- Conforming to the social expectations causes people to make certain
choices
MEASUREMENT OF
VALUES
RVS-VALUE MEASUREMENT
A study created by ROKEACH known as Rokeach Value
Survey (RVS) measures two types of values from

consumers point of view
1. Instrumental Values affecting code of conduct ambitious,broadminded,capable,cheerful,courageous,for
gving,helpful,honest,obedient,self-controlled
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.
TERMINAL
VALUES
PRODUCT CLASS
COICE CRITERIA
BELIEFS AND
ATTITUDES
ABOUT
PRODUCT
CLASS
PRODUCT CLASS
SELECTION
---------------------------BRAND SELECTION
INSTRUMENT
AL
VALUES
BRAND
CHOICE
BELIEFS AND
ATTITUTES
ABOUT
BRANDS
LIST OF VALUES
to establish relationships between values and consumption
1.
2.
3.
4.
5.
6.
7.
8.
Self respect
Security
Warm relations
Accomplishment
Self fulfillment
Well-respected
Sense of belongingness
Enjoyment
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.
BUYING A CAR
SOCIAL RECOGNITION- Brand, Color, Style,
Accessories
SECURITY Centre locking, Theft alarms, Tracking
systems
Self-fulfillment Cost, comfort
VALS VALUES AND LIFESTYLES

VALS ("Values, Attitudes and Lifestyles") is a
proprietary research methodology used for

psychographic market segmentation
VALS applies in all phases of the marketing process
i.e 1.New-product development 2.Entry-stage
targeting 3.Communications strategy 4. advertising.
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
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.
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.
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.
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.
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.
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..
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.
SURVIVORS
TRAITS- Have the lowest income, 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.
CONCLUSION
VALS is a marketing tool that segments the consumer
marketplace on the basis of the personality traits that drive

consumer behavior.
Market segmentation is designed to guide companies in tailoring
their products and services to appeal to the people most likely

to purchase them
Marketing classes use this tool to determine the placement of a
given product to a certain niche in an industry.
THANK YOU

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CONSUMER VALUES AND

Values are believed to provide the motivation for buying.

certain area to attain their values is called consumer

to be addressed in different ways.

Shared beliefs or cultural norms about what is important or

Cultural values directly influence how

Examples of values include:

the welfare and feeling of others.

Culture- Practices and traditions formed for survival and identity

contribute to what is acceptable and fashionable

Survey (RVS) measures two types of values from

Terminal values affecting end-state of existence

Researchers using both LOV and RVS have found that

differences exist based on values held by consumers.

VALS VALUES AND LIFESTYLES

proprietary research methodology used for

The VALS System divides consumers into eight categories according to

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

leaders, most receptive to new ideas and technologies.

cultivated tastes for upscale, niche products and services.

an expression of their taste, independence, and personality. Their

people who value order, knowledge, and responsibility.

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

durability, functionality, and value in the products they buy.

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

committed, focused .They value consensus, predictability, and

active in the consumer market.

prestige products and services that demonstrate success to their

a comparatively high proportion of their income on fashion,

savoring the new, the offbeat, and the risky.

conventional people with concrete beliefs based on established

familiar products and established brands.

are generally loyal customers.

and approval of others. Money defines success for Strivers, who

both a social activity and an opportunity to demonstrate to peers

the purchases of people with greater material wealth..

TRAITS- Makers are motivated by self-expression, express

themselves, practical people who have constructive skills and

large institutions such as big business. They prefer value to

other than those with a practical or functional purpose.

represent a very modest market for most products and services

especially if they can purchase them at a discount.

marketplace on the basis of the personality traits that drive

their products and services to appeal to the people most likely

given product to a certain niche in an industry.

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