Consumer Behavior: Personality and Lifestyle

Consumer Behavior - Personality and Lifestyle

• A consumer's personality influences how they respond to marketing. Using this information in marketing, however, often yields mixed results.
• Brands have personalities.
• Lifestyle is a pattern of consumption reflecting how someone spends time and money. These choices define consumer identity.
• Lifestyle is an attitude and way an individual interacts within society.
• Buying behavior is heavily influenced by consumer lifestyle. For example, a consumer with a healthy lifestyle will likely buy healthier foods.
• Lifestyle is defined by attitudes, interests, and opinions (AIOs).
• Attitudes reveal a consumer's work, hobbies, and entertainment preferences.
• Interests show what a consumer enjoys (e.g., food, technology, travel, sports).
• Opinions reflect a consumer's views on major issues (political, social, environmental).
• Lifestyle segmentation is used for targeting—companies tailor marketing strategies to specific lifestyle groups.
• Examples of lifestyle segmentation success are Mountain Dew, which targets adventure seekers and young adults.

Brand Personality

• Brand personality is a set of human characteristics associated with a brand.
• A strong brand's personality builds brand equity by aligning with specific consumer segments.
• Brand personality personifies a brand by giving it human qualities.
• Like humans, a brand has a voice, colors, and attributes that evoke emotions.
• Brand personality is how consumers perceive a brand (based on appearance, communication, actions).
• Brand personality influences current and future customers.

Trait Theory

• Trait theory focuses on quantifying and measuring personality traits.
• Personality traits are defining characteristics.
• Traits relevant to consumer behavior include innovativeness (trying new things), materialism (importance of acquiring goods), self-consciousness (awareness of self-image), need for cognition (enjoying thinking), and frugality (making due with existing goods).

Big Five Personality

• The Big Five (or Neo-Personality Inventory) is a widely used personality assessment.
• It measures five dimensions: openness to experience, conscientiousness, extroversion, agreeableness, and neuroticism (emotional stability).
• Each dimension has descriptive characteristics and examples.

Myers-Briggs Type Indicator (MBTI)

• The MBTI, based on Jung's work, is another widely used personality test.
• It categorizes people into 16 types based on dimensions: focus of attention (introversion/extroversion), information processing (sensing/intuition), decision-making (thinking/feeling), and interacting with the world (judging/perceiving) .

Product Complementarity and Co-Branding Strategies

• Co-branding involves two or more brands combining to market a product or service.
• Product complementarity is when symbolic meanings of products relate, and increased demand for one product leads to greater demand for a complementary product.
• For example, increased demand for cell phones leads to greater demand for chargers.
• Product complementarity and co-branding both consider pricing.

Lifestyle and Consumer Identity

• Lifestyle is a pattern of consumption reflecting consumer choices on how to spend time and money; these choices are pivotal for defining consumer identity.
• The buying behavior is highly influenced by the lifestyle of a consumer.
• Examples of successful lifestyle segmentation are using Mountain Dew marketing targeted to thrill-seekers.