14 Psychographics- Values, personality, and lifestyles PDF

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Chapter 14 summary of psychographics....

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14 Psychographics: Values, personality, and lifestyles  

Psychographics—description of consumer based on their psychological and behavioral characteristics Values—enduring beliefs about abstract outcomes and behaviors that are good or bad, such as health, independence, family life, and peace o Value system—total set of values and their relative importance o Value conflict: do something that is consistent w one value, but not w another equally important value  EX: ppl who place equal value on convenience and the environment o Ppl most likely to adopt values of new culture if they find the culture attractive and have values similar to it o How values can be described  Global values—person’s most enduring, strongly held, and abstract values that hold in many situations  Maturity, security, prosocial behavior (doing good things for others), restrictive conformity, enjoyment, achievement, and self direction  Two types o Terminal values—highly desired end states such as social recognition and pleasure o Instrumental values—values needed to achieve the desired end states such as ambition and cheerfulness  Domain-specific values—relevant only to particular areas of activity, such as religion, family, or consumption o The values that characterize western cultures  Materialism—high importance on acquiring and owning material goods and money  Symbolic items (mother’s wedding gown) are more important to those low in materialism  Big boosts from purchases are often temporary and can lead to stress about money  Rooted in part (from terror management theory) bc consumers’ drive to relieve anxiety over the inevitability of death through deriving self-esteem and status from acquiring/possessing things  Most common in US, Chinese, Indian consumers  Home  High value placed on it  Many want to make it as attractive and comfortable as possible  Work and Play  US workers are working harder/longer than ever  Helps ppl achieve comfortable lifestyle, fam security and life goals  Individualism  Values independence and self-reliance

14 Psychographics: Values, personality, and lifestyles Allocentric consumers: prefer interdependence and social relationships o More interest in health consciousness, group socializing, reading and food prep  Idiocentric consumers: put more emphasis on individual freedom and assertiveness o More interest in sports and adventure, financial satisfaction, gambling, brand consciousness  Family and Children  Parents in Europe/asia value education more than US parents  Marketers are targeting: legos, cereals, juices, desserts, soft drinks, snacks, games, etc. specifically for children  Health  Ppl concerned about health bc of looks and longevity/survival  Consumers who value health tend to be less price sensitive  Emphasis is why Walk-in clinics in popular stores exist  Health thoughts occur in New home construction (choosing materials)  Health and fitness trackers/apps are growing in popularity  Hedonism—principle of pleasure seeking  Searching for goods/services that make ppl feel good  EX: luxury cars, good-tasting food  Youth  US places high values on youth o Combatting signs of aging (wrinkle creams, hair dye, hair treatments)  Cosmetics surgery is one of fastest growing medical specialties  Authenticity  Ppl value authentic things (original or faithful reproduction)  Ppl feeler close attachment to authentic goods/services  The environment  US & Europeans wants to support things that are good for the environment o Businesses changing to earth-friendly packaging o Environmentally friends cars  Technology  More than ever before, ppl believe tech enhances their lives o Why values change  US values moving toward casualness in living, greater sophistication in behavior, change in sex roles, desire to be modern o Influences on values  Culture and Values 

14 Psychographics: Values, personality, and lifestyles Ppl feel differently in different parts of the world Individualism v collectivism: degrees to which culture focuses on individuals rather than group  Uncertainty avoidance: extent to which culture prefers structured to unstructured situations  Masculinity v femininity: extent a culture stresses masculine values (assertiveness, success, competition) over feminine values (quality of life, warm personal relationships, caring)  Power distance: degree a society’s members are equal in terms of status  Ethnic identification and values  Ethnic groups within a larger culture can have some values that differ from those of other ethnic subcultures  Social class and values  Social class affects consumption patterns  Middle class is growing  Upper-upper class prize self-expression (reflected in homes, clothing, cars, etc.) and giving back to society  Age and Values  Ppl of generation often share similar values w/ those of same generation o How values can be measured  Inferring values from the cultural milieu  Can get values about a place based on advertisements present there  Product names say a lot about values o Materialism (Grand Hyatt hotels) o Time (Ronzoni quick cook pasta)  Magazine titles, book/movie titles, TV programs, types of ppl regarded as heroesherosisms, popular songs reflect value  DOES CULTURE REFLECT VALUES OR CREATE THEM  Means-end chain analysis—technique that can help explain how values link to attributes in products/services  Value laddering: determining root values related to product attributes that are important to consumers  Attribute provides means to a desired end state/terminal value  Used to identify product attributes that will be consistent w certain values  Value Questionnaires  Material values scale sometimes focus on specific aspects of consumer behavior  Rokeach Value Survey (RVS)—A survey that measures instrumental and terminal values o Asks about 19 instrumental values and 18 terminal values  

14 Psychographics: Values, personality, and lifestyles

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o Standardized o Some values less relevant to consumer behavior  List of Values (LOV)—survey instrument that efficiently measures none principal values driving consumer behavior o 9 primary values  Asked for 2 most important OR to rank all 9  EX: self-respect, warm relationships, sense of accomplishment, self-fulfillment, fun/enjoyment in life, excitement, sense of belonging, being wellrespected, security o Better predictor of consumer behavior o Useful for identifying segment of consumers w similar value systems Personality—general, enduring differences between ppl in terms of behavior patterns, feeling and thinking o Research approaches to personality  Psychoanalytic approaches  Personality arises from dynamic, unconscious internal struggles within the mind  Pass through several stages to form personality o Oral stage: infant entirely dependent on others for need satisfaction; receives oral gratification from sucking, eating and biting  Probs in stage may result in;  Gum chewing, smoking, overeating, distrusting others’ motives o Anal stage: child confronted w toilet training  Too restrictive toilet training may result in: obsessed with control, overly orderly/stubborn, list making, excessive saving/collective o Phallic stage: youth becomes aware of genitals and deals w desires for opposite-sex parents  Trait theories  Personality is composed of characteristics that describe and differentiate individuals  Phenomenological approaches  Locus of control—ppl’s tendency to attribute the cause of events to the self (internal) or not the self (external, such as other, the situation, or luck)  Social-psychological theories  Compliant individuals: dependent on others; humble, trusting, and tied to a group

14 Psychographics: Values, personality, and lifestyles Aggressive individuals: need power, move against others, are outgoing, assertive, self-confident and tough minded  Detached individuals: independent and self-sufficient but suspicious and introverted  Behavioral approaches  Personality more of a function of how individuals have been rewarded or punished in the past o Determining whether personality characteristics affect consumer behavior  Optimal stimulation level  Dogmatism—tendency to be resistant to change or new ideas  Need for Uniqueness (NFU)—desire for a unique position and experiences through the purchase, use and disposition of products/services  Creativity: departure from conventional consumption practice in a novel and functional way  Need for cognition (NFC)—trait that describes how much ppl like to think  Susceptibility to influences  Those who prefer face to face or interpersonal communication will not believe ads as much  Those w lower self-confidence are more likely to be influenced by ads  Frugality: degree to which consumers take a disciplined approach to short-term acquisitions and are resourceful in using products/services to achieve long-term goals  Self-monitoring  Degree to which ppl look to others for clues on how to behave  High: sensitive to desires of others  Low: guided by own personal preferences  National character—personality of a country  Only provide broad generalizations of a country  Competitiveness: desire to outdo others through conspicuous consumption of material items  EX: have to have best/newest electronic gadgets Lifestyles—ppl’s patterns of behavior o Activities, interests, and opinions (AIOs)—the three components of lifestyles  Activities  Work, hobbies, social events, vacations, entertainment, club membership, community, shopping, sports  Interests  Family, home, job, community, recreation, fashion, food, media, achievements  Opinions  Themselves, social issues, politics, business, education, economics, products, culture, future  Demographics 

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14 Psychographics: Values, personality, and lifestyles Age, education, income, occupation, family size, dwelling, geography, city size, life cycle stage o Lifestyle and behavior patterns  Several distinct segments  Nostalgia: desire for things of the past o Old movies, books, antiques, products popular in their childhood o Voluntary simplicity: consciously limiting acquisition and consumption for a less materialistic, more eco-friendly lifestyle  Lifestyle choice for ppl who don’t want the accumulation of possessions to be the focus of their lives  Not same as frugality Psychographics: combining values, personality, and lifestyles o VALS  AKA Values and Lifestyles  Analyzes behavior of US consumers to create segments based on 2 factors  Resources (self-confidence, innovativeness, vanity)  Primary motivation o Motivation is ideals: guided by intellectual aspects o Motivation is achievement: buy goods/services that reflect success for others to see o Motivation is self-expression: desire social/physical action  8 consumer segments  Survivors o Focus is meeting basic day to day needs  Believers o Low resources; motivated by ideals  Thinkers o Motivated by ideals; mature; well-educated and actively conduct info searches  Strivers o Limited discretionary income yet strive to emulate more successful ppl  Achievers o Have higher resources; focused on work/families, value tech that improves productivity  Makers o Value self-sufficiency, have high desire to own land and are interested in outdoors  Experiencers o Like being first to participate in trend; seek stimulation; highly sociable  Innovators 

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14 Psychographics: Values, personality, and lifestyles o Greatest resource base; plenty of self-confidence, high incomes and education o Other applied psychographic research  MONITOR mindBase: psychographic segmentation system w 9 broad segments  Based on attitudes, life-stage, gender, age, etc.  Determines how consumers in each segment behave and why  Interprets how consumer interpret the info for marketing purposes...