Personality, Lifestyles and the Self-Concept

Consumer Value Framework

Consumer behavior theory that illustrates factors that shape consumption-related behaviors and ultimately determine the value associated with consumption.

CS/D

Customers Satisfaction/Dissatisfaction

Internal influences

Things that go inside the mind and heart of the consumer or that are truly a part of the consumer psychologically.

Consumer Psychology

The study of how individual thoughts, feelings, and behaviors influence consumption.

Personality of Consumers

The characteristic patterns of thoughts, emotions, feelings, intentions, tendencies, and behaviors that a person exhibits consistently as he or she adapts to the environment.

Individual Differences

Characteristics and traits that help define an individual, including demographics, personality, and lifestyle.

Personality

Made up of the characteristic patterns of thoughts, emotions, feelings, intentions, tendencies, and behaviors that a person exhibits consistently as he or she adapts to the environment.

Personality traits

Unique per individual, a combination of specific traits or characteristics, relatively stable characteristics that interact with situations to influence behavior,

Aggregation approach

Specific behaviors vary across time.

What are two popular approaches when studying personality?

Psychoanalytic Approach & Trait Approach

Psychoanalytic Approach

Suggests that personality results from a struggle between inner motives and societal pressures to follow rules and expectations.

Trait Approach

Focuses on specific consumer traits as motivators of various consumer behaviors.

ID

Personality component in psychoanalytic theory that focuses on pleasure-seeking motives and immediate gratification.

EGO

Component in psychoanalytic theory that attempts to balance the struggle between the superego and the id.

SUPEREGO

Component in psychoanalytic theory under which the ego attempts to satisfy the id within societal constraints.

Reality principle

Weighs the costs and benefits of an action before deciding to act upon or abandon impulses.

Trait

A distinguishing quality or characteristic, typically one belonging to a person.

Nomothetic perspective

Focuses on particular traits that exist across a number of people.

What are the BIG 5 Personality Traits?

Openness to experience, Conscientiousness, Extroversion, Agreeableness, and Neuroticism. THINK OCEAN!

Idiographic perspective

Focuses on the total person and the uniqueness of his psychological makeup.

Openness to experience

A trait positively related to innovative work behavior (Baer and Oldham JAP2006).

Brand Personality

Refers to human characteristics that can be associated with a brand.

Ex. Apple has non-corporate, artistic sophisticated, creative personality VS. Nike which has an active lifestyle inspirational, exciting, cool personality. 

Brand personality appeal

Refers to a product's ability to appeal to consumers based on the human characteristics associated with it.

Brand Personality Characteristics

A brand's personality should be perceived as having strong degrees of favourability, originality, and clarity.

Consequences of Brand Personality

Includes brand quality, attitudes toward the brand, intentions of future behavior, trust, attachment, commitment, persuasion, and affect (Su and Tong, 2015).

Self-Concept

Totality of thoughts and feelings that an individual has about himself or herself. Consumers are motivated to act in accordance with their self-concepts

Actual Self

How consumers perceive themselves.

Ideal Self

How consumers would like to perceive themselves.

Social Self

The beliefs that consumers have about how they are seen by others.

Self-esteem

Positivity of self-concept that one holds.

Body Esteem

Positivity with which people hold their body image.

Lifestyles

Ways consumers live and spend their time and money.

Context-specific personality traits

Traits that influence purchase patterns of consumers.

Market Segments

Useful in identifying viable market segments/ purchasing power of consumers based on consumer lifestyles.

Psychographics

The study of ways consumer lifestyles are measured.

Psychographics

Involves surveying consumers using Activities, Interests and Opinions (AIO) statements.

Demographics

Refers to observable, statistical aspects of populations such as age, gender, or income. Used in conjunction with psychographic analysis. Helps locate and understand lifestyle segments.

Generation cohorts

Categories of consumers based on their birth years and shared experiences.

Baby Boomers

Individuals born between 1946 and 1964, receptive to products related to health, fitness, retirement housing, financial planning, and physical appearance.

Generation X

Individuals born between 1965 and 1976, leads in online spending.

Generation Y or Millennials

Individuals born between 1977 and 1994, interested in distinctive, memorable, and personal experiences.

Generation Z

Individuals born in 1995 and later, characterized by broad diversity and independence.

Hispanic Culture

The largest ethnic group in the US, known for family-oriented values and social intimacy. Fastest growing market segment in US, consumers are quality & brand conscious.

African American Culture

Represents 13% of the US market, with growing affluence contributing to higher buying power. Consumers motivated by quality and choice.

Asian Culture

Represents 5% of the US market, characterized by strong family ties and appreciation for education. Like luxury brands.

Major Cultural Trends

Increasing cultural diversity.

Major Demographic Trends

Increasing life expectancy and the aging consumer.

Declining Birthrates

A demographic trend indicating fewer births over time.

Increasing consumer affluence

A trend where consumers have more disposable income.

Openness:

Creative, open to new ideas, imaginative

Conscientious:

Precise, efficient, organized

Extroverted:

Talkative, outgoing

Agreeableness:

Kindhearted, sympathetic

Neuroticism:

Anxiety, anger, depression, immoderation, vulnerability

What are the five dimensions of brand personality?

Sincerity, Excitement, Competence, Sophistication, and Ruggedness