Chapter 14: Psychographics: Values, Personality, and Lifestyles

Examines the effect of these cultural influences on an individual level - namely, on values (deep-held beliefs), personality (consumer traits), and lifestyles (behavioral patterns that are manifestations of values and personality. (Mintap)

Values

According to the textbook, values are "enduring beliefs about abstract outcomes and behaviors that are good or bad, such as health, independence, family life, and peace." Shaping this into the dollar tree, most of society's pre-pandemic had a lower value view on the dollar tree but compared to now, it is encouraged to shop at a dollar store. The dollar tree may not hold a high materialistic value, but it allows for more sentimental value. With D.I.Y becoming a trend, many handmade gifts have held a higher value for some. Dollar Tree will enable customers to express their emotions fully.

Personality

Personality is customers' patterns that they may have picked up from growing up or from their parents. Researching and understanding the dollar tree has an open concept that welcomes all customer types. This chapter has about five beginning with: psychoanalytic approaches, trait theories, phenomenological approaches, social-psychological theories, and behavioral approaches. All of these approaches can help understand customers.

Lifestyles

Consumers’ activities, interests, and opinions are lifestyle choices that dollar trees can use to help identify their customers. This also allows the dollar tree to create a better marketing strategy.

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Chapter 5: Attitudes Based on High Effort

In order to keep with changing trends in the market, marketers need to help consumers form positive brand attitudes based on new beliefs and associations. These beliefs have a huge influence for customers on buying decisions. Dollar Tree was able to have a big influence on changing people's attitudes when it came to the products that they were offering. When the Covid-19 pandemic first hit, a lot of customers we're flooding the stores to get their hands on the desired products that they thought they needed due to the lockdowns that were placed. Due to the huge wave of customers hitting stores, a lot of desired products went out of stock real quick. Dollar Tree ended up benefiting from this because a lot of stores were running out of stock of a lot of products so customers had to turn to different alternatives. One of the hottest commodities during the pandemic was toilet paper. A lot people went overboard and ended up buying more than what they needed at big named retailers....

Chapter 9: Judgment and Decision-Making Based on Low Effort

In a recent post, we analyzed the high effort decision making, in which we went into depth about how labels and packing can influence customers' minds into buying a product. On the other hand, Low effort judgment and decision-making is how little time a customer spends choosing a product. The textbook states, " In some low-effort situations, consumers may decide without being consciously aware of how or why they are doing so. As much as 50 percent of all shopping decisions are made spontaneously and unconsciously while consumers are in the store." ( Unconscious Low-Effort Decision-Making) When a customer shops at a Dollar Tree, they know the item's quality will not be at the high end. The customer expects a convenience store where the options are not different and are equal in price. This allows the customer to go into an unconscious state where they can purchase their needs without putting much thought into them. Dollar Tree is the perfect store for those who do not...

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