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