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The use of personal values in living standards measures

Southern African Business Review

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Field Value
 
Title The use of personal values in living standards measures
 
Creator Ungerer, LM
Joubert, JPR
 
Subject personal values, market segmentation, multivariate segmentation, Portrait Values Questionnaire, Living Standards Measure, purchase decision-makers
 
Description The Living Standards Measure (LSM), a South African marketingsegmentation method, is a multivariate wealth measure based onstandard of living. This article reports on whether a rationale canbe found for the inclusion of psychological variables, particularlypersonal values, in this type of multivariate segmentation. Schwartz’s(1992; 2006) values model was used to operationalise personalvalues.15Data were collected by means of a survey from a nationallyrepresentative sample (N = 2 566) of purchase decision-makers. ThePortrait Values Questionnaire (PVQ) (Schwartz, Melech, Lehmann,Burgess, Harris & Owens 2001) was used to measure personalvalues. Centred value scores were used to statistically control forvariation among respondents in rating themselves on the PVQ. The10 LSM groups were collapsed into four LSM super groups to providea more rigorous analysis of measured personal value diff erencesbetween LSM groups. The statistical analyses included descriptiveand inferential statistics. 16 The findings in general supported Schwartz’s theory of basic human values. Respective values could be allocated among diff erent wealthbased consumer segments, which explained variances between these groups. It would be advisable to further investigate howthese diff erences can be applied in marketing. Although the LSMsegmentation approach has been adapted somewhat, the principalfi nding of this research remains applicable.
 
Publisher College of Economic and Management Sciences (UNISA)
 
Contributor —
 
Date 2012-05-14
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://www.ajol.info/index.php/sabr/article/view/76401
 
Source Southern African Business Review; Vol 15, No 2 (2011)
1998-8125
1561-896X
 
Language eng
 
Relation https://www.ajol.info/index.php/sabr/article/view/76401/66859
 
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