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Marketing 547

Marketing 547. Personality and Lifestyle Analysis. Personality & Lifestyles. Introductory Comments Definition of Personality - relatively long-lasting qualities that allow consumers to respond the world around them

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Marketing 547

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  1. Marketing 547 Personality and Lifestyle Analysis

  2. Personality & Lifestyles • Introductory Comments • Definition of Personality - relatively long-lasting qualities that allow consumers to respond the world around them • Personality Traits - all individuals have quirks which combine to form a relatively consistent pattern of behavior that differentiates one person from another • For Example - dogmatic, spiteful, sociable, relaxed • Forerunner to psychographic or lifestyles analysis

  3. Personality & Lifestyles • Introduction Comments (Cont.) • Brand Personality (Image) - communication goals concerning the attributes inherent in a product as well as the perceptions received by consumers regarding specific brands • Not physical or functional attributes, but something beyond. For example, “Obsession” may be viewed as erotic, “Mountain Dew” as young or active • Helps marketers promote to segments who maintain (or aspire to have) specific personality traits • Yet, personality applications to targeted marketing (and segmentation) have largely been disappointing • Researchers have suggested marketers develop personality traits that are more closely tied to consumption • Most personality “traits” were developed to identify “abnormal” behaviors • One application that has “worked” is Brand Personality • Another is Lifestyle Analysis

  4. Personality & Lifestyle • Marketers have relied more on “Lifestyle Analysis” • What is it? • Definitions • How one chooses to live. • Activities, Interests and Opinions • One example -- VALS • Based on a 35 statement lifestyle inventory (agree or disagree) • Values and lifestyles of US Customers • Used by many US marketers – USA Today; Merrill Lynch; $1.00 Store

  5. Lifestyles • A lifestyle: • Is a group phenomenon • Influences many aspects of behavior • But, implies that individuals have one “central life interest” • FYI – According to the analysts, I do not have a single life interest – many C’s cannot be classified into a single group • But, many Lifestyle segments tend to have specific product needs

  6. Values and Lifestyle Typologies • History of VALS • Values and Lifestyles (VALS)—1978 • Stanford Research Institute • VALS II — 1989 http://www.sric-bi.com/VALS • VALS III -- 2002

  7. Personality & Lifestyle • VALS III • 1. Based on a 35 statement lifestyle inventory (agree or disagree) • Example: • I often crave excitement • I like working with carpentry and mechanical tools. • http://www.sric-bi.com/VALS

  8. Personality & Lifestyles • VALS III (Cont.) • Based on notion that most individuals are (primarily motivated by): • Ideal-oriented -- guided by principles rather than feelings or desire for approval • Achievement-Oriented -- heavily influenced by the actions or approval of others • Self-Expression -- those who desire social or physical activity • And, based on the amount of resources individuals have to follow their motivations • The result -- 8 lifestyles

  9. Innovators 8% Thinkers 11% + HI Ideal-oriented - LO Believers 16% + HI Achievers 13% Achievement-Oriented - LO Strivers 13% VALS III Resources

  10. Experiencers 12% + HI Self-Expression Makers 13% - LO Survivors 14% VALS III Resources

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