Values

In this lecture we looked at how a persons level of motivation and degree of involvement affects their behaviour, and to understand how a persons values and attitudes affect their behaviour, also how marketers take advantage of the persons behaviour.

"A customer value is defined as the ratio between the customers perceived benefits econimic, funtional and psychological and the resources monetary, time, effort, psychological used to obtain those benefits." (Consumer Behavour, SCHIFFMAN)

"A value can be difined as a belief about some desirable end state that transcends specific situations and guides selection of behaviour. Thus values are general and different from attitudes in that they do not apply to specific situations only. A persons set of values plays a very important role in his or her consumption activities, since many products and services are purchased because it is believed they will help us to attain a value related goal." (Consumer Behaviour A European Perpective, Motivation, Value and Involvement)

The most important key event in my life that made an impact on me was when i went to Mecca (Saudi Arabia) I'm a muslim and for a muslim it is compulsory to make a trip to mecca at least once in their lifetime.

I went to perform Umrah (Pilgrimage) i went for 2 weeks with my family, i felt like a new person when i came back i was very thankful for what i had i stopped complaining about what i did'nt have and started appreciating what i did have. I became a happier person, started thinking positive for me this was definitely the best time of my life.

VALS - The most well known and widely used segmentation system in america is VALS (values and lifestyles) developed at what is now SRI international in california.