Lifestyle captures not only work but also leisure behavior patterns, activities, attitudes, interests, opinions, values, and allocation of income. So, consumers consume based on their lifestyles and values. This chapter explains lifestyles and values and their role in consumer decisions.
TopOpening Case
Lifestyle Branding, Is It a New Challenge in Markets?
Harley-Davidson, Starbucks, Apple are identified as lifestyles brand because they help the consumer to express their values, lifestyles, and personality. Chernev (2011) proposed that traditional brands have started lifestyle positioning to compete for all of the rivals and bonding consumer more personal level. In their studies, Chernev, Hamilton, and Gal (2011) examined how consumers get opportunities for self-expression using lifestyle brands. According to the findings, consumers want to fulfill their self-expression via brands, but they satisfy their self-expression with different brands. That means every brand fulfill just one part of self-concept of an individual. Then, Cherney claimed that today competition has shifted to share of a consumer’s identity (Chernev, 2011).
Some fashion brands like Ralph Lauren or Yves Saint Laurent have been lifestyles brands always. Chernev claimed that some performance-oriented brands like Gillette, Dove, Nestle, and Puma had transitioned their focus to consumer lifestyles (Chernev, 2013).
Puma had started to change its strategy in 2007 when they were known as PPR, now Kering, acquired Puma to strengthen its portfolio with higher-growth and higher-margin businesses. Kering is the French luxury goods holding. The company has several luxury, sport & lifestyle brands such as Alexander McQueen, Balenciaga, Brioni, Gucci, Puma, Volcom, Saint Laurent Paris. The main reason they considered the Puma is in tough competition with its major rivals Adidas and Nike (Kering, 2013)
Bjørn Gulden, PUMA’s CEO, announced PUMA’s new mission statement in 2013 as to be the Fastest Sports Brand in the world. The company gave particular attention to choose a mission that reflects the both the PUMA’s new brand positioning and to be a guide for all of actions and decisions of the company (Puma, 2016).
According to the Chernev (2011) in lifestyle positioning, Puma has challenged to compete not only with its direct rivals but also with lifestyle brands from separate categories (such as Starbucks and Apple). Because many brands have started repositioning themselves as a self-expressive brand, there would be difficult to find available position among the rivals.
Lifestyles And Values
Personality, values, and lifestyles are psychographics of consumer, and they provide a deep understanding of consumer behaviors. Demby (1974) was the first person who introduced the psychographics, putting together psychology, and demographics. He claimed that to enhance understanding of consumer behavior the more psychological aspects of consumers is needed. As known demographic attributes provide relatively limited data about consumers, and these do not explain the motives underlying their consumption decisions (Vyncke, 2002).
There is a close and reciprocal relationship between psychographics; lifestyle is a reflection of values, people strive the gain specific lifestyle with their values and personality affected from values, values by their character (Michman, Mazze & Greco, 2003)
Lifestyle is an interesting concept for sociologist, psychologist, anthropologist, marketers, even economists. Because it includes large variety elements; like demographics (income, consuming pattern), socioeconomic variables (purchase trends), social factors (relations and communications with others) and anthropologic (rituals and ceremonies) (Chaney, 2002).