In a rapidly changing market environment, it becomes extremely crucial for marketers to understand their current and potential customers. To help them in their efforts, Cyber Media Research, in association with SRIC-BI, has taken the initiative to develop the world-renowned marketing tool, VALS, for India.
Said Ravi Sangal, President, Cyber Media Research, "Market segmentation based on geo-demographics or socio-economic data is often incomplete as it masks important personality differences that exist amongst customers. These personality differences actually determine and drive purchase behaviour."
"VALS is a marketing and a consulting tool, which segments consumers on the basis of personality traits. As the personality of an individual does not change so easily over time, consumer insights provided by VALS are stable and predictable," he added.
Applicable to all stages of a product lifecycle, VALS is a powerful framework which can be employed at the ideation stage, for entry stage targeting, competitive analysis, brand differentiation, creative development, and in positioning. Said Sangal, "In a typical product lifecycle, a marketer needs to address different consumer segments at different stages of the product and hence his communication also changes at every stage. VALS segmentation will help marketers with rich insights of different consumer segments that can be used from product ideation stage to product launch, to develop messaging and selecting media vehicle, etc."
On tying up with SRIC-BI for the initiative, Sangal said, "SRIC-BI provides content-based research with consulting expertise and has a track record of successfully helping organizations improve their performance. SRIC-BI not only has the distinction of doing pioneering work in the field of psychographic profiling and segmentation, but over the years they have incorporated changes to make VALS more robust and strong."
When asked about the changing consumer behaviour, Sangal said, "What has visibly changed is the demographics and the lifestyle of Indian consumers and therefore segments based on these parameters also change. VALS segmentation based on personality traits remains stable as personality of an individual changes very gradually over a period of time."