Understanding the Values and Lifestyles System
The values and lifestyles system is based on the theory that consumers' purchasing decisions are influenced by their underlying values, attitudes, and lifestyles. This framework was developed by VALS (Values, Attitudes, and Lifestyles) survey, which has been widely used in market research. The system categorizes consumers into different segments based on their values, interests, and lifestyles.There are nine VALS types, each with its unique characteristics and purchasing patterns. To identify these types, researchers use a combination of demographic, behavioral, and psychographic data. The nine VALS types are:
- Survivors: Practical, budget-conscious, and focused on basic needs.
- Strivers: Aspiring to a better life, motivated, and hardworking.
- Enthusiasts: Active, adventurous, and enthusiastic about life.
- Makers: Creative, innovative, and value-driven.
- Thinkers: Analytical, introspective, and seek knowledge.
- Achievers: Ambitious, driven, and achievement-oriented.
- Experientialists: Seek new experiences, love to travel, and enjoy trying new things.
- Believers: Spiritual, values-driven, and committed to their faith.
- Strategic Thinkers: Visionary, forward-thinking, and strategic in their decision-making.
Identifying Your Target Audience
To implement the values and lifestyles system, you need to identify your target audience and understand their values, interests, and lifestyles. This involves collecting and analyzing data on your customers' demographics, behavior, and psychographics. You can use various tools and methods to collect data, such as:Online surveys, social media analytics, customer feedback, and market research reports. Once you have the data, you can use it to categorize your customers into different VALS types.
VALS Type Comparison Table
| VALS Type | Age Range | Income | Education | Values |
|---|---|---|---|---|
| Survivors | 25-44 | $25,000-$50,000 | High school diploma | Stability, security, and practicality |
| Strivers | 25-44 | $50,000-$100,000 | Bachelor's degree | Success, achievement, and self-improvement |
| Enthusiasts | 18-34 | $25,000-$50,000 | High school diploma | Fun, excitement, and self-expression |
Creating a Values and Lifestyles Profile
Once you have identified your target audience and categorized them into different VALS types, you need to create a values and lifestyles profile. This involves analyzing the data and identifying the key characteristics, preferences, and behaviors of each VALS type. The profile should include information on:Demographics, behavior, psychographics, values, interests, and lifestyles. This information will help you to develop targeted marketing strategies and create products or services that meet the needs and preferences of your target audience.
Steps to Create a Values and Lifestyles Profile
- Collect and analyze data on your customers' demographics, behavior, and psychographics.
- Categorize your customers into different VALS types based on the data.
- Identify the key characteristics, preferences, and behaviors of each VALS type.
- Develop a values and lifestyles profile for each VALS type, including demographics, behavior, psychographics, values, interests, and lifestyles.
- Use the profile to develop targeted marketing strategies and create products or services that meet the needs and preferences of your target audience.
Implementing the Values and Lifestyles System
Once you have created a values and lifestyles profile, you can implement the values and lifestyles system in your business. This involves using the profile to develop targeted marketing strategies and create products or services that meet the needs and preferences of your target audience. Some practical tips for implementing the values and lifestyles system include:Segmenting your marketing efforts to target specific VALS types, using language and imagery that resonates with each type, and creating products or services that meet the unique needs and preferences of each type.
Example of How to Use the Values and Lifestyles System
Let's say you're a marketing manager for a clothing brand that wants to target the Enthusiasts VALS type. You've analyzed the data and identified that Enthusiasts are more likely to buy clothing that is fun, fashionable, and affordable. You create a marketing campaign that uses language and imagery that resonates with Enthusiasts, such as "Get ready to rock this season with our latest collection!" and feature models who are young, fashion-forward, and adventurous.