MKT 325 Midterm Study Guide

MKT 325 Midterm Study Guide - Marketing 325 Midterm Study...

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Marketing 325 Midterm Study Guide - VALS - you will be asked to look at a magazine ad and determine which VALS segments are being targeted Acronym for V alues a nd L ife s tyles, a system for grouping consumers according to psychological and sociological theories in order to predict their behavior in the purchase decision process. There are three main categories: need-directed -consumers who make purchases based solely on need; outer-directed - consumers who make purchases based on their perceptions of the way others view them; and inner- directed -consumers who make purchases out of some inner need. VALS can aid in defining targets for products and are also helpful in the development of advertising copy and media strategies. The concept was introduced in 1978 by the California consulting firm of SRI International. Innovator. These consumers are on the leading edge of change, have the highest incomes, and such high self-esteem and abundant resources that they can induldge in any or all self- orientations. They are located above the rectangle. Image is important to them as an expression of taste, independence , and character . Their consumer choices are directed toward the "finer things in life." Thinkers. These consumers are the high-resource group of those who are motivated by ideals.
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