VALS is a marketing tool used to predict consumer behavior based on their philosophical beliefs, mechanical and intellectual curiosity, among other things. VALS stands for ‘Values and Lifestyles and is a series of questions to help define target audiences.
Consumers are constrained in their full expression of self through behavior and purchase. So VALS also measures a person’s ability to express himself or herself in the marketplace. VALS ™ identifies the psychological motivations that predict consumer differences.
The VALS Types: Innovators . Thinkers. Believers. Achievers. Strivers. Experiencers. Makers. Survivors.
VALS 2 is a segmentation method which slices the market (or potential customers) into 8 groups. This is done to tap customers based on their attitudes and values. This was created after Values and Lifestyle ( VALS ) Research, which is one of the ways of doing psychographic segmentation.
Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action.
The acronym VALS , (for “Values, Attitudes and Lifestyles”) is a psychographic segmentation. The main dimensions of the segmentation framework are primary motivation (the horizontal dimension) and resources (the vertical dimension). The VALS approach is derived from a theoratical base in Maslow’s work (1954).
The classic example for benefit segmentation toothpaste market, where most of the product offerings are targeted at benefit segments. For example , you can buy toothpaste for: Fresh breath. Teeth whitening.
Demographics are quantitative. Psychographics are qualitative. Demographics provide insights to factors such as ethnicity, gender, mobility, age, disabilities, employment status, etc.
Your primary VALS type means that you are most like the Experiencers consumer group. Your secondary type—the group you are next most like—is Innovators.
The main dimensions of the VALS segmentation framework are consumer motivation (the horizontal dimension ) and consumer resources (the vertical dimension ).
Psychographics is the qualitative methodology of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices. Psychographics in marketing focus on understanding the consumer’s emotions and values, so you can market more accurately.
Demographic information tends to focus on external or physical factors such as age, ethnicity, gender, location, etc., while psychographic information focuses on psychological factors such as motivations, beliefs, priorities, etc.
How could you use VALS to develop the marketing strategy for a product of your choice ? The Values and Lifestyles ( VALS ) system breaks consumers into eight groups based on their resources and self-orientation. Each group exhibits distinctive behavior, decision -making patterns, and product /media usage traits.
Psychographic segmentation divides buyers into different segments based on internal characteristics — personality, values, beliefs, lifestyle, attitudes, interests, social class — so you can market accordingly.
Which type of purchase is most likely to be the result of joint decision making ? Joint decision making is common for cars, vacations, houses, home appliances and electronics, family finances, and medical care.