Transcript Day 3
Self Concept & Lifestyle MKT 750 Dr. West Agenda “Boots the Chemists” Campaign Actual versus Ideal Self Lifestyle VALS versus Monitor Digging into the DDB data Getting to Know Your Customers Try to get beyond the surface … Demographic information tells us characteristics about these consumers If we want to successfully serve our customers we need to understand … How they think and feel, and what matters most to them Case Study: Boots The Chemists Largest pharmacy chain in Britain J. Walter Thompson launched a strategic relationship building campaign Background Research Consumer perceptions – “man in the white coat” Trusted authority, but cold and sterile New positioning “look good and feel good” Understanding, stimulating, personalized, fulfilling, enjoyable Case Study: Boots The Chemists Campaign Objectives Increase profitability by increasing frequency of visits and amount spent per visit Enroll 8 million cardholders in 12 months Achieve an incremental sales increase of 3.2 percent Case Study: Boots The Chemists Target Audience 83% of customers are women Focus on young women who could be motivated to “treat themselves” rather than “deal-seekers” Creative Strategy Boots Rescue Resolution Self-Concept Our self-concept is defined as the totality of the thoughts and feelings one has about him- or herself Dimensions of Self-Concept Actual Self Private Self How I see myself Public (Social) How others see me Self Ideal Self How I would like to see myself How I would like others to see me Need Recognition What happens when there is a “gap” between our actual and idea self? Ideal Self Actual Self Extended Self Measuring Self-Concept Measuring Brand Image The Relationship Between SelfConcept and Brand Image Lifestyle VALS – values and lifestyle Attempts to tap relatively enduring attitudes/values (self-orientation) and resources MINDBASE – values and life stage Focuses on core values and life cycle stages to classify individuals VALS segmentation sorts consumers into an eight-part typology: Self-orientation: Principle oriented Status oriented Action oriented Level of Resources High Low MINDBASE SEGMENTS How do these compare? Which seems more accurate, informative, or useful? Why? How can we utilize this information? Lifestyle and Consumption VALS Distribution Actualizer Fulfilled Believer Achiever Striver Experiencer Maker Struggler Total VALS Distribution Total Actualizer Fulfilled Believer Achiever Striver Experiencer Maker Struggler Monitor “Mindbase” Case Study: Boots The Chemists Evaluation Launch produced a database of 8 million BTC customers More than 3 percent sales increase in year 1, 8 percent in year 2 Cardholders’ average purchase was 8 percent high than non-cardholders DDB Needham Group Exercise Try to identify AIO statement in the DDB data that correspond to one of the VALS lifestyle groups. Examine how the demographics in the DDB data compare to the associated VALS segment. Identify a product that is well-suited for the VALS group you have identified and develop a marketing plan using both the information you know from VALS and the DDB data. Be sure to have someone in your group write a “brief” of your findings. Summary Understanding the “psychographics” of your customers can provide useful insights for communicating with them and building strong brand relationships. Assignment Reading: Chapters 14 - 16 (pp 500 - 508, 513 - 517, 525 - 542, 556 - 565, 570 - 578) Topic: Consumer Decision Making Assignment: Look over the “Shopping Insights Diary” assignment and begin to introspect on your own buying decision processes