Page 111 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes interpersonal skills, inventiveness, intelligence, eagerness to buy, money, position and education
etc. The questions above are designed to classify respondents based on their primary motivations.
Stanford Research Institute (SRI) has identified three basic motivations:
1. Ideals (principle): Individuals are guided in their choices by their beliefs and principles
and not by feelings, desires and events.

2. Achievement: Individuals are heavily influenced by actions, approval and opinions of
others.
3. Self-expression (action): Individuals desire physical and social activity, variety and risk
taking.
Based on the concepts of basic motivations and resources, the typology breaks consumers into
eight groups.
1. Innovators (formerly actualisers): This segment is small in size compared to other seven
but may be the most attractive market because of their high incomes and they are the
leading edge of change. They are among the established or getting established leaders in
business or government, yet they seek challenges. Image is important to them as an
expression of their taste, independence, and character. These people are successful,
sophisticated, active, and with high self-esteem. They are interested in growth and
development; they explore, and express themselves in many different ways. They have
social and intellectual interests, and are open to social change. They are guided sometimes
by ideals and at other times by desire and are fond of reading. They prefer premium
products to show their success to others.

2. Thinkers (formerly fulfilled): Thinkers are motivated by ideals and exhibit behaviour
according to the views of how the world is or should be. They are mature in their outlook,
satisfied, comfortable, are well-educated, reflective people who value order, knowledge
and responsibility. They like their home and family, are satisfied with their careers, and
enjoy their leisure activities at home. They are open-minded about new ideas and accept
social change. As consumers, they are conservative and practical. They purchase products
for their durability, functionality, and value.
3. Believers: Like thinkers, believers are also motivated by ideals; their basic approach to
decision-making is rational. Believers are not well-educated and the moral code of conduct
is deeply rooted in their psyche and is inflexible. They are conservative, conventional and
have deep beliefs based on tradition, family, religion and community. Their routines are
established and largely influenced by home, family, religion, and social organisation.
Their behaviour as consumers is predictable and conservative. Their income is modest,
but enough to meet their needs.
4. Achievers: They are motivated by the desire for achievement and make choices based on
a desire to enhance their position, or to facilitate their move to another group’s membership
for which they aspire. They have goal-oriented life-styles and a deep commitment to
career and family. They are more resourceful and active. Achievers are inclined to seek
recognition and self-identity through achievement at work and in their personal lives.
They have high economic and social status and patronise prestige products and services
and time saving devices that exhibit success to their peers. They value consensus,
predictability and stability over risk, and intimacy.
5. Strivers: They are trendy and fun-loving and are motivated by achievement. They are
dependent on others to indicate what they should be and do. They believe money represents
success and never seem to have enough of it. Their self-definition is based on approval and
opinion of others around them. They are impulsive by nature, get easily bored, are unsure
of themselves, and low on economic, social, and psychological resources. Strivers try to

104 LOVELY PROFESSIONAL UNIVERSITY