Study Guide for Chapter 10: Personality, Values, and Lifestyles

Definition of Personality

A person’s unique psychological makeup consistently influences their interactions with the environment.

Freudian Perspective

Id, Superego, Ego

Id

Operates on the pleasure principle, seeking immediate gratification.

Superego

Represents moral standards and societal expectations.

Ego

Balances the id and superego under the reality principle, which seeks to satisfy the id's desires in realistic and socially appropriate ways

Trait Theory

Personality traits influence consumer preferences.

The Big Five Personality Traits (OCEAN)

Openness to Experience, Conscientiousness, Extraversion, Agreeableness, Neuroticism

Openness to Experience

Creativity and curiosity.

Conscientiousness

Organization and dependability.

Extraversion

Sociability and assertiveness.

Agreeableness

Compassion and cooperativeness.

Neuroticism

Emotional instability.

Need for Touch

Preference for tactile information.

Frugality

Resourcefulness in consumption.

Core Values

Reflect what individuals consider good or bad
Shaped by cultural, social, and individual influences.

Materialism

Importance placed on possessions for status or identity.

Minimalism

Counter-trend focusing on simplicity and reducing unnecessary possessions.

Timestyles

Psychological perception of time, influencing consumer behavior.

Time Poverty

Feeling pressed for time, impacting consumption patterns.

Lifestyles & Consumer Identity Definition

A pattern of consumption reflecting values, activities, and spending habits.

Psychographics

Combines psychological, sociological, and anthropological factors to analyze consumer behavior.

AIO Segmentation

Groups consumers based on their Activities, Interests, and Opinions (AIO).

VALS Framework

Classifies consumers into segments based on motivation and resources

Innovators

Open to change, seek innovation.

Thinkers

Value knowledge and functionality.

Believers

Loyal to traditions and familiar brands.

Achievers

Career-oriented and success-driven.

Experiencers

Seek excitement and novelty.

Strivers

Aspire to emulate success but have fewer resources.

Makers

Practical, family-oriented, self-sufficient.

Survivors

Focus on meeting basic needs.

Brand Personality

Traits consumers attribute to brands (e.g., adventurous, trustworthy).

Meaning Transfer Model

Brands acquire cultural meaning and integrate into consumer identities.

Lifestyle Brands

Reflect and reinforce consumer lifestyles (e.g., Ralph Lauren, Patagonia).

Authenticity and Brand Loyalty

Transparent, genuine brands are valued by consumers.