Principle of Marketing
Assignment
Sec: F
Submitted by:
Faris Ahmed Khan – 70075186
Submitted to:
Ma’am Asra Kazi
Q: Explain in detail the psychologic variables VALS and PRIZM.
Ans: VALS (Value and Lifestyle): It is psychographic method in consumer research that
divides consumers into groups based on resources and consumer. VALS classifies consumers into
eight
segments
based
on
consumer’s
resources.
Such
as:








Innovators
Thinkers
Achievers
Experiencers
Believers
Strivers
Makers
Survivors
Innovators: Innovators have high self-esteem and their behavior is based on success and
sophistication. They have high resources and high income. Their image is important and
motivated by their achievements.
Thinkers: Thinkers are mature, educated professionals. Their behavior is to value order and
knowledge. They have high income but are practical consumers and conservative with their
purchases. They are ideal motivated people.
Achievers: Achievers are motivated by achievements. Their consuming behavior is based on the
success of brand over time. Image is important for them as they give too much importance to
community, family, and family, and career.
Experiencers: Experiencers are those who want to experience different things. Their consuming
behavior is expressive, young, impulsive, and enthusiastic. They value youthful products and
services, novelty and excitement.
Believers: Believers are those who follow routines and their live is centered around home, family,
and church. There consuming behavior is that they are loyal. They are ideal motivated and
conservative.
Strivers: For Strivers shopping is way to show others about their ability to buy. Strivers are
motivated by achievements.
Makers: Makers tend to express to express themselves through their activities such as raising
children, fixing cars, and building houses. They are motivated by self-expression.
Survivors: Survivors have low resources and low income. Their consuming behavior are based on
health issues and who believe the world is changing. They are not active consumers, as their
concerns are safety, family, and security.
PRIZM: PRIZM is another method for life analysis. In this method consumer’s demographics by
which we tend to know the expenditure and socioeconomic variables of a consumer. This actually
helps in the identifying the consumption pattern of households in different regions. It is based
on the idea that people who have similar background and tend to live around each other have
same behaviors and lifestyles. PRIZM combines demographics and behavioral which helps in
understanding the target audience. This technique uses 66 different segments to distinguish
consumers’ like, dislikes, lifestyles and purchase behaviors.
Demographics: Demographics includes geographic area, gender, age, income, ethnicity and
education. By using demographics marketer come to know that what is their target audience and
then it becomes easier for marketers to target their perfect audience.