When you are a known company like GWC Valve Inc, knowing your customers and the different groups of customers is very important when it comes to your company’s success. The goal of most businesses especially one like GWC Valve, is to sell you products of the service you offer and this can be done more easily with the VALS consumer psychographics. The VALS psychographics is a method used by many businesses in order to distinguish consumers on psychological grounds rather than a demographic purpose. There are seven groups of VALS psychographics that include the following:
The Belonger group, which is when individuals in this group stick to their family and friends more. These types of people need to belong in a community and for GWC Valve’s community; it would be easier to target the Belong group. There are 40% of individuals in the United States that belong to the Belong group. These individuals are more conservative and have religious beliefs. Consumer behavior is based on a more personal relationship.
The Achiever Group is a small portion of the United States’ population. Only 5-7% are Achievers. People categorized in this group are successful individuals who control up to 95% of America’s money. Their consumer behavior is driven by hunger of wealth and they do not waste their time shopping but still buy the latest technology. This would also be a good group for GWC Valve Inc to target.
The Emulator Group tends to buy things that look expensive but cannot afford what the Achievers can. They are more interested in fakes and copies of high-end and luxury products. This particular group I s younger than 30 and they suffer from low self-esteem and look for approval.
The Socially Conscious Group (Type A and B), which is when the main driver of this consumer behavior group is the environmentally friendly group. They support charities that help the disadvantaged people in this world. The type A is more optimistic and believes people can make a different in the world while type B on the other hand has completely lost faith in humanity and lives in a small closed community.
Balanced and Integrated group. The balanced profile is the smallest group due to the fact that they are achievers with a socially conscious mind. Their success is more based on the goals they achiever to make the world a better place. The balanced would spend money on something that brings a kind of redemption and the Philanthropists would give money for causes that humanity can actually benefit from. For GWC Valve, this group does not seem like an ideal group to target.
The Needs-driven groups are people who buy things as the needs arise. They are usually poor; they don’t shop rationally and are needs-driven people. These people would pay for call to action offers in advertisements where they think that they are actually saving their money.
After reviewing each VALS psychographics group, GWC Valve Inc would benefit from targeting their valves to the Achiever and Belonger groups.