I. Use VALS2 to define the eight different segments developed by the Stanford Research Institute for describing the eight major types of consumers in the United States.
Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs as well as common applications for the relevant goods and services. There are several types of marketing segmentation: psychographic, behaviouralistic, geographic, demographic and so on. But now, I’d like to discuss about another model, which is VALS2. VALS2 describes American market segments in terms of demographic and lifestyle factors and classifies consumers in eight basic lifestyle groups: actualizers, fulfillers, believers, achievers, strivers, experiencers, makers, and strugglers. Each group is based on two major dimensions: self-orientation and resources. Self-orientation comprises the attitudes affecting consumer buying approaches and resources including income level, education, self-confidence, health, eagerness to purchase, and energy level. Resources increase from youth to middle age and decline with old age. VALS 2 is an extremely useful classification system for segmenting consumers.
There are three major groups in VALS2:
* Principles Oriented,
* Status Oriented and
* Action Oriented.
Consumers focused on the principle of the selection of certain products based on personal beliefs, and not on the opinions of others. For consumers focused on status, it is important to the approval of other people. Action oriented customers are motivated by social and physical activity, variety and a sense of risk. In addition to targeting consumers differ in the presence of resources. Resources - it is psychological, physical, socio-economic factors that influence the selection and purchasing decision of each consumer. In particular, factors such as education, income, confidence in themselves, intelligence and purchasing habits. Principles...
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