The Influence of Lifestyle and Money Attitude on Purchase Decisions: the Moderating Effect of Marketing Stimulation and Personal Value

In this reading, I will be discussing the different categories in which advertisers have placed consumers to distinguish them from one another using their values, attitudes, and life-style. According to the writer of American culture and advertisement James B. Twitchell, “the object of much consumer research is not to try to twist their feathers so that they will flock to your product, but to position your product in such a place that they will have to fly by it and perhaps stop to roost. After roosting, they will eventually think that this is part of their flyway and return to it again and again” (p. 178). The proposition of stereotyping consumer lifestyles is a very effective way of marketing goods and services. The VALS2 strategy of marketing segment, target, and position used by advertisers is based on research; which means, marketers know more about consumer behaviors than what we think. This is an important issue because it’s necessary to raise awareness in society about the advantages and disadvantages that this can bring. After having evaluated all given points; this article is an eye opener for those who have any doubts about what consumers mean to large companies and advertisers.

We are all University Students that currently live in Halifax Nova Scotia, but have all grown up in various places. Two of our members are from Ontario and the remaining members from various parts of China. Given this geographical separation, our group has some obvious diversity in our individual consumer profiles. This is partly due to our different cultures and values. Our families also greatly influence our contrasting consumer profile - with our differing ethnical backgrounds, different social classes and varying religions. Conversely, we all fit into the age bracket of 18-25 so share some similar purchasing behaviour as millennial consumers (Kardes et la., 2011, pg 38). We have all been apart of many of the same world changes, such as 911 and global warming. This greatly sways our prespective on which products we can identify with and our preferences. Likewise, we all are at the same life stage (Kardes et la., 2011, pg 8). We are all young adults, finishing up university and starting our independent lives with limited disposible incomes. We tend to make most of our purchases online, allowing us to find the best deals in the least amount of time. Most of us find that food is our number one expense and value the bonds people make while sharing a meal. Many of us find it difficult balancing our busy lifestyles and school, but work to covercome these challenges. All of these inflencers guide our purchasing habits.

When making a consumer decision-making there are several influences that can affect, motivation, attitude, lifestyles, learning, and perception. A person behavior is a key point since it shows the person within their cycle. As we change daily as family our cycle changes as well. In the US, we have different socials classes, and each of them shows different values, behavior, and way of seen life in

As part of their means of segmenting consumers, marketers and the media have usually demonstrated some bias for the individuals' life stage and demographics. The main reason for the use of these factors to segment consumers is because the economic, cultural, and age-specific characteristics have a significant influence on the consumer's behaviors and their purchase decisions. However, life stage does not necessarily cover for the entire reason that influences a person's behavior and purchase decisions. This is mainly because the way with which an individual lives his/her life is also a major contributing factor to their purchase decision and behaviors.

Consumers’ decision to purchase a product in the market is contributed by a variety of reasons. Some customers purchase a commodity because it is satisfying their taste expectations and its price is friendly to their pockets. Other customers decide to buy a product because to is prestigious but not because of needs or satisfaction (Screpanti, and Zamagni, 2005). Marshall Keynes and Thorsten Veblen who are proponents of theories on behavioral economics had views on why consumers purchase certain products in the market. Marshall and Veblen had a psychological similarity in their idea as well as differences in their point of

On the other hand, people who are most likely to make purchase decisions based on their emotional motives can be considered as the people who has a high income level or high class people (a successful businessmen). In other words, this type of consumers will not think about their income level, efficiency in operations and etc, since the most important factors for them are social status, pride, satisfy a sense, acceptance, curiosity and etc are the reasons that they try to fulfill by purchasing a good or service. For example, a person who has a high income level will consider buying branded, expensive goods or services rather than buying the same thing for a lesser price from an unbranded and inexpensive place.

This paper will cover the study of behavioral economics and its effect in consumer decision-making. The impact of human factors, importance of making rational decisions, and how all this ties into the economic market will be discussed in the report. This paper will include models, tables, and real world examples of a decision making process as it relates to behavioral economics and consumer buying process. The usefulness of the utility theory will be illustrated as an example pertaining to consumer behavior. The findings will show how consumer rational is

Participants of the study mentioned that television is an influencer of their purchase. Television is a communication channel for opinion leaders to promote what they wear and the masses look toward what is acceptable and emulate what they see. Advertising and marketing are a sources of information and these adverts show what is trending so decision making starts in the comfort of your own home. When consumers are out it browsing or shopping, it reduces the

In the past, the concept of consumer perception on value has been utilized to analyze the decision making of consumers in many phases. The consumers will significance the product from many internal and external factors comparing with what he has to sacrifice. If the perceived value of the product exceeds what he has to give up, then he will choose to buy the product.

Consumers make several buying decisions each and every day (Armstrong and Kotler, 2012). There is a strong academic interest in why consumers make such decisions and their buying behaviour (Armstrong and Kotler, 2012; Solomon et al, 2013; Shiffman et al, 2012). Shiffman et al (2012) defines consumer behaviour as ‘the behaviour that consumers display in the searching for, purchasing, using, evaluating and disposing of products and services.’ It is argued that consumers are strongly influenced by several factors when making a purchase; such as cultural, social, personal and psychological characteristics these factors affect consumer behaviour as a whole (Armstrong and Kotler, 2012).

Copyright © 2009 Harvard Business School Publishing. No part of this publication may be reproduced, stored in a retrieval system, used in a

Richard Ivey School of Business, University of Western Ontario, London, Ont., Canada N6A 3K7 Lowry Mays School of Business, Texas A&M University, College Station, TX 77843-4217, USA Received 20 March 2000; accepted 4 May 2000

This essay describes how values and demographics have changed in American society over the last 30 years, and how the changes have impacted marketing to American consumers. It starts with an overview of consumer behavior model which includes the influences on a consumer decision process, and how businesses can be successful in being the chosen brand in the decision process. It covers the three categories of values: self-oriented, environment-oriented, and other-oriented, and explores how marketing address diversity and gender-role changes at home and in the society. It covers the impact of demographics on marketing and includes research that shares recommendations on how organizations can address the changing values and

Customer is driven to make a certain purchase due to the force of needs from lifestyle. According to Widjaja in his book title of Lifestyle Marketing, he stated that there are four categories that become the motives of decision-making purchase due to lifestyle, which are utilitarian purchases (buy product from its benefits), indulgences (to pamper themselves), lifestyle luxuries (live in luxury), and aspiration luxuries (desire for luxury) (p. 43).

This is to certify that the study entitled as “Role of television advertising of lifestyle products in purchase behaviour of youth and enhancing their lifestyle.” undertaken by me is original. I have not submitted this project report to any other organization.