Economical
We call this LifeStyle “Economical” because it is very conscious of the relative cost and value of almost everything, including its time. They are not cheap. They simply see no reason to pay more than is required. This LifeStyle has the highest readership of Consumer Reports and the Economist. It members are younger (by 5 years) and more educated than average (89% have college degrees or better). They watch their money even when buying pricey things like organic cosmetics: They somehow manage to have the lowest spend per visit to the beauty counter. As you might expect, in general they are not driven to things or experiences that are exclusive, extravagant or elegant. They are very comfortable with themselves and not worried about being self-conscious. They are socially interactive and relatively undemanding regarding service. Convenience is more important than atmosphere. (They want the “steak not the sizzle.”)
| LifeStyle VIII- 9 |
Important |
Less Important |
| Drivers |
Suit personality, In Demand, Me |
(Perform, Practical, Don’t make me Self-conscious) |
| Apparel |
Versatility, Price, fun, attention-getting Annual spend:$4200 |
(fun, exciting, trend setting, elegance, change brands) |
| Automotive |
State of the art safety and security, spacious average (3.2 years) purchase cycle; Fewer than average autos (2.0) in household |
(Exclusiveness, eye-catching nuance) |
| Beauty |
Price, Organic, made from natural ingredients. Lowest cosmetic spend per visit |
(service) |
| Financial Services |
Brokerage Service but low trades per year; lower (6.9 years) than average length of relationship |
(Research I want; Meet my needs for involvement) |
| Leisure Travel |
U.S.; fewest 1-2 week vacations; Relaxing, Economical, socially interactive, private beach, boating, camping Annual spend:$18560 |
(thrilling; hiking, hunting) |
| Channels |
90% buy on the internet, catalogs; Convenience, Location |
(Atmosphere) |
| Service Expectations |
Moderate-to-low |
|
| Media |
Better Homes & Gardens, Economist. NYT; WSJ, Consumer Reports. Relies on Word Of Mouth (WOM) from professional associates for automotive; WOM from relatives for travel; internet for travel information |
(Fashion magazines) |
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