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 Oriented group is divided by two subgroups: fulfilled and believers.
Fulfilled are people in middle age, which is secured, and has happy life. They love to spend time in meditation and contemplation. These people are mostly well-educated; also they may have recently retired.They keep track of events in the country and the world, using the opportunity to expand their horizons.
Satisfied with their career, family, they spend their leisure time at home. Their tastes are conservative, in the commodity value strength, functionality and value. As for believers, they are the conservatives are committed to tradition, nothing remarkable. They have clear, specific, unshakable beliefs based on traditions, core values: family, church, community, and nation. Most of the time at home, in the family, religious or charitable organizations, which believe.The believers prefer familiar products and brands.
While Principle Oriented has two subgroups Status Oriented group has four of them: actualisers, achievers, strivers and strugglers. Actualisers are successful, with good taste customers. They are active people who are not afraid to take responsibility, with high self-esteem.
They are interested in their own growth and development. Self-image is very important for them, but not as proof or evidence of their position and power, and as an expression of his own taste and independence and character.In most actualisers are the leaders in business; they occupy certain positions in the government. They have a wide range of interests; they worry about social problems; they see the changes easily. Actualisers talk about buying refined taste and attraction to expensive products of the highest quality, designed for a specific consumer group. Achievers are the people that make a career, the main thing for them is work.
They share the view of the majority, prefer stability at risk. The work gives them a sense of “usefulness”, resources and prestige.They focus on family, career and church. In politics, they hold conservative views. The image is also important for them. Choose a prestigious product that reminds colleagues about the success of the owner. Strivers – people who feel insecurity, seek approval for their actions, their options are limited. Money for “strivers” means success, because they always have lack of them.
Often feel that life is unfair to them. Prefer stylish products that are bought by people with more than they have wealth. Strugglers – people in the middle ages with the limited opportunities.
Concerned about their health, strugglers are often passive. They are cautious buyers and prefer favorite brands. The last but not least group is Action Oriented. As a Principle Oriented it has two subgroups: experiencers and makers. Experiencers are young, enthusiastic, impulsive people.
They’re looking for variety and excitement. They are in the process of formation of values ??and behavior. They get interest to new opportunities fast, but also quickly lose it. In this period of life “experiencers” are not interested in politics, and have instable views.Most of the revenue is directed to the purchase of clothes, going to restaurants, cinemas.
As for makers, they are practical, self-sufficient, traditional, family-oriented people. In politics they have conservative views. Makers buy only things that have practical or functional value, such as tools, fishing equipment, etc.
To sum up I’d like to say that there are a lot of methods, models of market segmentation, but VALS2 is one of the models, which gather the maximum information about the market. It is universal method and can be used by the company that has any kind of merchandises.