A well-known and successful psychographic segmentation tool developed by SRI Consulting, is VALS (values and lifestyles) and its process divides adult US consumers into one of eight profiles based on resource level and one of three primary consumption motives: ideals (knowledge and principles), achievement (demonstrating success to others), or self-expression (social or physical activity, variety, and risk-taking). Organizations use VALS to understand the factors underlying consumer behavior and help them adapt their products and marketing to align with those behaviors (Ferrell & Hartline, 2011). For the Mistine organization we can see the type of consumer behaviors that the organization has historically targeted in their marketing strategy. They developed a product focused on the Asian female market, trying to provide a product that worked with Asian skin tones and was marketed as high quality at a reasonable price. The VALS consumer profiles that would best coincide with Mistine's product development would be those of thinkers, doers, experimenters, believers, fighters, creators and survivors. The profile of the innovators did not match with Mistine because many people consider the Mistine product as a low-income product due to the low selling price, which for the innovators could imply low quality, something they are not attracted by. By looking at each profile we can determine the following: Thinkers are practical individuals and seek value (Ferrell & Hartline, 2011). The Mistine brand offers a product suitable for Asian women's skin at a reasonable price. This consumer needs a cosmetics brand but doesn't feel like he has to pay for something where it is... middle of paper... a very useful tool for him. We can see that many of Mistine's products and marketing techniques fit multiple VALS profiles, but they are still limited to very small portions of those markets. By understanding and analyzing consumers' purchasing habits with the use of VALS, they can begin to expand further into those markets and even reach consumers outside of their current marketing. The more marketers know about their target consumers, the better they can design products and services and develop marketing and communications strategies that will appeal to the target (Strategic Business Insights, 2010). Resources: Ferrell, O.C., & Hartline, M. (2011) . Marketing Strategy, (5th ed.). Southwestern Learning/Cengage. Strategic Business Insights, (2010). Retrieved October 18, 2014, from http://www.strategicbusinessinsights.com/vals/free/2010-08-VALSfaq.pdf
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