1. Psychographics are variables that marketers/advertisers collect relating to consumers personality, lifestyle, attitudes, values and motivations. Psychographics capture the psychological make up and reasons of a persons actions. This sort of information is very useful for marketers because it helps them to develop a product that can fit into their lifestyle. It can also help them to segment their market and focus on a specific persons needs. If you understand a consumers motivations, and their personality and lifestyle, it is also helpful in terms of advertising. For example if we discoer that a products target market has a psychographic profile of being rich, snobbish, spending a lot of money, wanting to be the best, wanting to be admired, luxurious lifestyle etc. then advertiers can focus their campaigns on making the product they sell seem like a luxury product or one that only rich people wear/use.
2. Our brand is Rolex and the lifestyle segment for people who would purchase it is achievers
3. The brand we have chosen is Rolex. Of the VALS segmentation framework, the segment which best describes the lifestyle of a Rolex consumer would be the Achiever. Achievers are motivated by their desire to achieve, and are goal and family oriented. Typically they accept the status quo, which means they don’t really go for new and innovative products. Rolex is a well-established company that successful people are known to use. Thus, the values of the Rolex brand – success, achievement, stabile company with an established heritage and an old recognized name; well these are the types of values and the types of goals that an Achiever would have. They are committed to excellence, and a Rolex justifies their lifestyle completely. I consider myself to be an achiever because I believe in well known brands as well.
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