lifestyle marketing

8/3/2019 LifeStyle Marketing

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By:-Vijay Singh Sambyal

Hitesh Gupta (94-MBA-10)Anuj Sharma(96-MBA-10)

Mohit Mehra (97-MBA-10)


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Lifestyle marketing is the process ofestablishing the relationship betweenproducts offered in the market andtargeted lifestyle groups.


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It involves Segmenting the market on the basis of lifestyle

dimensions.

Positioning the product in a way that appeals tothe activities, interests and opinions of thetargeted market.

Undertaking specific promotional campaignswhich exploit lifestyle appeals to enhance themarket value of the offered product.


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Lifestyle is a group phenomenon

A persons lifestyle bears the influence of his/her

participation in social groups and his/herrelationships with others. For example- Two clerksin the same office may exhibit different lifestyles.


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Lifestyle pervades various aspects of

life

An individuals lifestyle may result in certain

consistency of behaviour. Knowing a persons

conduct in one aspect of life may enable us topredict how he/she may behave in other areas.


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Lifestyle implies a central life interest

For every individual there are any central life interestslike family, work, leisure, religion, politics etc that mayfashion his/her interaction with the environment.


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Lifestyle vary according to

sociologically relevant variables

The rate of social change in society has a greatdeal to do with variations in lifestyle. For example-

The increase in the number of double incomefamilies and that of working women have resultedin completely different lifestyles in the 1980s inIndia.


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Positioning of New Products Positioning comprises finding the most profitable niche

for a new product in terms of target market.

Lifestyle research, like an AIO portrait, for any givenconsumer product not only tells us how old they are,where they live and to what socio-economic group

they belong, it also tells what product are they likely tobuy, what their interests and opinions are.


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Re-positioning an Old/Existing Product Lifestyle re-positioning the product involves

moving the product closer to the core market

segment by altering its image to suit the lifestylesof the core segment. For example- Mahindra &Mahindra are currently repositioning their jeep byaiming it to the lifestyles of the successfulprofessionals who prefer rugged lifestyle instead

of sophisticated one.


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Creating Promotional Strategies Lifestyle information is helpful in developing

the promotional strategies. Lifestyle data

suggests the style of language, the tone ofvoice and even the appeal that may be utilizedto reach the customer

The Bata North star advertisement aiming atthe Young, Western-Oriented, fun lovingcrowd is an example of promotional strategyadopted by Bata Ltd.


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Physiographic SegmentationGeographical SegmentationDemographical SegmentationSocio-Cultural SegmentationPsychological Segmentation


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1. AIO Inventories2. VALS Classifications


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AIO stands for Activities, Interests andOpinions.

Activities-Activities indicate how a consumer/familyspends his/her/their time.

Interests-Interests are a family's or consumer'spreferences or priorities.

Opinions-Opinions are how a consumer feels about awide variety of events and things.


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AIO studies a wide variety of variables andmeasures the major dimensions as shown

Activities Interests Opinions

Work Family ThemselvesHobbies Home SocialSocial events Job PoliticsVacation Community BusinessEntertainment Recreation EconomicsClub member Fashion EducationCommunity Food ProductsShopping Media FutureSports Achievements Culture


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The VALS system of classification is basedon inner psychological needs(Values) andbehaviour response patterns(Lifestyle).


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The VALS study leads to identification of fourmajor groups:-

The need driven(the poor and uneducated)

The outer directed(the middle or upper income classconsumer whose lifestyle is directed by external criteria)

The inner directed(people who are motivated more byinner needs than by the expectation of others)

The integrated(represents individuals who have been ableto combine the best of both outer directed and innerdirected values)


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VALS typology classifies the population into threemajor consumer groups The principle oriented

The status oriented

The action oriented

The principle oriented represents consumers whose choices aregoverned by their beliefs rather than their need for otherpeoples, approval.

The choices of status oriented consumers are directed by theaction, approval and opinion of other people.

The action oriented consumers are those who are motivated by a

need for social or physical activity, variety and risk bearing.


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Believers- these are conservative,conventional people with concrete beliefsand strong attachments to traditionalinstitutions: family, church, community andthe nation.

Fulfilleds- these are matured, satisfied,comfortable and reflective people whovalue order, knowledge and responsibility.


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Actualizers- these are successful,sophisticated, active people. They areinterested in growth and seek to develop,

explore and express themselves in a variety ofways.

Achievers- these are successful career andwork oriented people. They are deeplycommitted to their work and families.


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Strivers- they seek motivation andapproval from the world around them. Theyare striving to find a secure place in life.

They are deeply concerned about theopinions and approvals of others.

Strugglers- they are ill-educated, withoutstrong social bonds and concerned abouttheir health.


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Experiencers- they are young, vital andenthusiastic and rebellions. Experiencersare consumers that spend much of their

income on clothing, fast food, music.

Makers- they are practical people whohave constructive skills and value self-suffiency. Makers experience the work byworking on it- building a house, raising achildren, fixing a car.


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THANK YOU

lifestyle marketing

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