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 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

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

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