Unless sellers recognize consumers’ preferences, they would not be in a position to win the hearts of the customers. This is because consumers are interested in products and services which correspond to their beliefs and with which they can identify themselves. This justifies how studying consumer behavior using the lifestyle approach is relevant. One of lifestyle approaches is Lifestyle And Values (VALS) which is a system that explicitly links personality traits and purchase behavior to show that people express their personalities through their behaviors. Such an approach would help marketers and business owners to effectively segment markets, well define their businesses, well position their brands and design and implement appropriate marketing strategies so as to meet targeted segment’s needs, wants, beliefs, expected outcomes, purchasing habits and occasions. Thus, by the help of VALS, I was able to define my business as “retail selling fashionable second hand casual clothes for men and women between the ages of 18 and 25 in Rwanda who are fashion conscious and want to look good and having sufficient disposable income to buy them”. In order words related to VALS terminology, my business will focus on the experiencers segment.
Table of Contents
- Introduction
- Lifestyles and marketing segmentation
- Lifestyle marketing in a retail clothing business
- How a lifestyle approach can help succeed in a men and women retail clothing business
- Values And Lifestyles (VALS)
Objectives and Key Themes
This essay aims to explore the application of lifestyle marketing, particularly the Values And Lifestyles (VALS) framework, in a retail clothing business for men and women in Rwanda. The focus is on understanding how this approach can effectively segment target markets and tailor marketing strategies to meet customer needs and preferences.
- The importance of lifestyle marketing segmentation in business
- Application of the VALS framework in a retail clothing business
- The impact of lifestyle marketing on business success
- Identifying target customer segments based on psychographics and lifestyles
- Developing effective marketing strategies tailored to specific lifestyle segments
Chapter Summaries
- Introduction: This section introduces the concept of lifestyle marketing and its significance in understanding consumer behavior. It highlights the objective of the essay, which is to analyze the use of a lifestyle approach in a retail clothing business for men and women.
- Lifestyles and Marketing Segmentation: This chapter delves into the concept of marketing segmentation, emphasizing the importance of dividing a market into smaller groups based on customer needs, expectations, and purchasing habits. The chapter discusses how lifestyle approaches, such as VALS and LOV, identify and segment consumers based on their activities, interests, and opinions.
- Lifestyle Marketing in a Retail Clothing Business: This section explores the practical application of lifestyle marketing in a retail clothing business. It emphasizes the importance of defining the business beyond its products and considering the factors motivating customer purchases. This chapter introduces market definition variables, such as geographic variables, demographic variables, and lifestyle variables, to help define target customer segments.
- How a Lifestyle Approach Can Help Succeed in a Men and Women Retail Clothing Business: This chapter explains how a lifestyle approach can be instrumental in understanding and targeting specific customer segments. It underscores the need to identify and address customer preferences and beliefs to build brand loyalty and customer satisfaction. The chapter introduces the VALS framework as a valuable tool for achieving this goal.
- Values And Lifestyles (VALS): This chapter provides a detailed explanation of the VALS framework. It describes its origins, principles, and structure, highlighting the eight consumer segments defined by the framework. The chapter explores the dimensions of the VALS framework, including primary motivation and resources, and explains how these dimensions influence consumer behavior.
Keywords
Key terms and concepts central to this essay include lifestyle marketing, market segmentation, consumer behavior, psychographics, VALS framework, customer preferences, target market, brand loyalty, and retail clothing business.
- Arbeit zitieren
- Masters of Arts (Marketing) Jules Miller (Autor:in), 2011, Lifestyle Marketing in a retail clothing business, München, GRIN Verlag, https://www.hausarbeiten.de/document/180904
