Question

three substantive posts

Self-Concept and Lifestyle

• Does VALS make sense to you? What do you like or dislike about it? How would one use VALS to develop a marketing strategy? Develop a marketing strategy based on VALS for one of the following:

a. Starbucks

b. Grand Canyon kayak vacation

c. Sirius satellite radio

d. Kawasaki jet ski

e. Triumph motorcycles

f. NBA

Answer 1

VALS known as Values, Attitudes and Lifestyles is a proprietary research methodology used for psychographic market segmentation. Market segmentation is designed to guide companies in tailoring their products and services in order to appeal to the people most likely to purchase them. Yes it is of immense importance in the field of marketing.VALS can aid in defining targets for products and are also helpful in the development of advertising copy and media strategies.Consumers are constrained in their full expression of self through behavior and purchase. So VALS also measures a person's ability to express himself or herself in the marketplace. VALS identifies the psychological motivations that predict consumer differences.

Since VALS require study of lifestyle pattern of consumers so, it results in market segementtaion. Segmentation increases costs. When a firm attempts to serve several market segments, there is a proliferation of products. Cost of production rises due to shorter production runs and product variations.

Applying VALS to Starbucks

Starbucks uses demographic segmentation on basis of age, gender, income, family background. Starbucks target men and women between age group of 25 to 44. These people are career oriented.Starbucks targets this group creating the third place to go to between home and work by creating this unique and relaxing experience and atmosphere as customers within this range tend to have high income and professional careers. Starbucks studied their lifrstyle and accordingly realized that coffee is an itegral part for working professionals to keep them energized and refreshed.

Another target group for Starbucks is young adults between age group of 18 to 24. Such adults love college cafe where thet can chat and have fun. Starbucks target this group through the growth of technology and innovative ideas. These people can discuss and share new ideas, meet new people, can study together and all this can be made more refreshing with a cup of starbucks coffee.