Presentation (8).pptx for CB............
- 1. LIFE STYLE AND VALUES GROUP MEMBERS: ALEEZA FATIMA 21020920-118 MINAHIL ABBAS 21020920-063 MUHAMMAD SHABAN 21020920-075 TAHA SALEEM 21020920-100 JUNAID 21020920-129
- 2. LIFESTYLE PRESENTED BY : MUHAMMAD SHABAN 075 Lifestyle in consumer behaviour refers to the unique set of values, interests, attitudes, and behaviours’ that define an individual’s way of living and influence their consumption patterns. It encompasses various step including Values and beliefs Interests and hobbies Attitudes and opinions
- 3. LIFESTYLE AND CONSUMPTION CHOICES Lifestyle and consumption choices are closely linked, as lifestyle influences the products, services, and experiences that individuals choose to consume. Here are some key aspects of lifestyle that shape consumption choices: Values and beliefs: Consumers align their purchases with their values, such as sustainability, health, or luxury. Interests and hobbies: Consumers spend money on activities and products related to their passions, like music, sports, or travel.
- 4. LIFESTYLE AND CONSUMPTION CHOICES Attitudes and opinions: Consumers’ views on topics like technology, fashion, or food influence their purchasing decisions. Social status and identity: Consumers use products and services to express their social status, personality, or affiliation with specific groups.
- 6. HOW LIFESTYLE INFLUENCE THE BEHAVIOUR Product choices: Lifestyle shapes preferences for products and services that align with one’s values, interests, and self-image. Brand loyalty: Consumers tend to stick with brands that resonate with their lifestyle. Consumption habits: Lifestyle affects frequency, quantity, and timing of purchases. Leisure activities: Lifestyle influences how consumers spend their free time and money.
- 7. PRODUCT ARE THE BUILDING BLOCKS OF LIFESTYLE Products can be a crucial part of our lifestyle, and the products we choose can reflect our values, interests, and aspirations Products can shape our daily routines and habits They can influence our health and wellness They can reflect our personal style and identity They can impact our social status and relationships
- 8. PRODUCT COMPLEMENTARITY Product complementarity is a marketing strategy that involves offering multiple products together to create a comprehensive solution that meets customers’ needs. This approach can lead to increased customer satisfaction, loyalty, and revenue grain Tech: - Smartphone and accessories (case, headphones, charger) - Laptop and software (operating system, productivity tools) Gaming: - Console and games - Controller and gaming headset
- 9. PRODUCT COMPLEMENTARITY By offering complementary products, businesses can create a one-stop-shop experience for customers, increasing average order value and building brand loyalty.
- 10. PSYCHOGRAPHICS Presented By Minahil Abbas 063
- 11. PSYCHOGRAPHICS (AIOS) Psychographics (AIOs) is a framework used to understand consumer behavior and segment audiences based on their Activities, Interests, and Opinions (AIOs). This approach helps marketers and researchers gain insight into consumers’ personalities, values, and lifestyles, beyond demographic characteristics
- 12. USE OF PHYSCHOGRAPHICS SEGMENTATION Targeted Marketing: Create campaigns that resonate with specific segments, increasing effectiveness and ROI. Product Development: Design products and services that meet the needs and desires of specific psychographic segments. Customer Experience: Tailor customer experiences to align with the values, interests, and lifestyles of target segments.
- 13. USE OF PHYSCHOGRAPHICS SEGMENTATION Brand Positioning: Differentiate brands by appealing to specific psychographic segments, creating a unique brand identity. Market Research: Gather insights on consumer behavior, preferences, and motivations to inform business strategies. Customer Segmentation: Identify and prioritize high-value segments to optimize marketing efforts and resource allocation.
- 14. LIFESTYLE SEGMENTATION TOPOLOGIES (RISC AND CCA SOCIO STYLE) RISC (Research Institute for Social Change) is a research organization that developed the CCA (Centre for Consumer Analysis) Socio-Styles segmentation model. RISC is a leading provider of consumer insights and market research, helping businesses understand their target audiences and develop effective marketing strategies. RISC’s CCA Socio-Styles model is widely used in marketing and consumer research to categorize consumers into distinct lifestyle segments based on their values, attitudes, and behaviors.
- 15. CCA SOCIO STYLE FACTORS 1. Achievers (CCA1) – Ambitious, driven, and status-conscious 2. Optimists (CCA2) – Positive, outgoing, and open to new experiences 3. Pioneers (CCA3) – Innovative, adventurous, and forward-thinking 4. Individualists (CCA4) – Independent, creative, and nonconformist 5. Realists (CCA5) – Practical, responsible, and down-to-earth 6. Traditionalists (CCA6) – Conservative, loyal, and family-oriented 7. Enjoyers (CCA7) – Fun-loving, spontaneous, and pleasure-seeking 8. Resigners (CCA8) – Disengaged, skeptical, and disillusioned
- 17. VALUES ATTITUDES AND LIFESTYLE (VALS) VALS (Value, Attitude, and Lifestyle) is a consumer segmentation framework developed by SRI International (formerly Stanford Research Institute). It categorizes individuals into distinct lifestyle types based on their values, attitudes, and behaviors.
- 18. SEGMENTS OF VALS Innovators: Tech-savvy, innovative, and forward-thinking Thinkers: Intellectual, analytical, and knowledge-oriented Achievers: Ambitious, driven, and status-conscious Experiencers: Spontaneous, adventurous, and seeking new experiences Believers: Traditional, conservative, and value-oriented Stivers: Practical, hardworking, and seeking stability Makers: Resourceful, creative, and hands-on Survivors: Frugal, cautious, and prioritizing basic needs