In today’s complex and volatile consumer market, brands and products must accurately grasp consumer behavior, needs and motivations to stand out. This article will provide an in-depth explanation of six typical consumer types from two key dimensions: payment ability and consumption preferences, to help you better understand their psychology, income level and lifestyle.
When it comes to brand and product positioning, a deep understanding of consumer behavior, needs, and motivations is fundamental to developing precise strategies. Brand building is not only about meeting the current needs of consumers, but also about anticipating their future expectations, so as to create a brand image that resonates emotionally with consumers. This deep resonance can enhance consumer loyalty and bring long-term market competitiveness to brands.
In brand positioning, it is usually led to:Ability to payandConsumption preferencesTwo dimensions classify consumers.
1) Ability to pay
It reflects the purchasing power of consumers in the economy, which directly determines the range and price range of goods they can buy.
2) Consumption preferences
reflects the attention and importance consumers pay to the product or brand.
- High consumption preferencesof consumers usually pay more attention to factors such as product quality, brand image, innovation, and personalization, and are willing to pay a higher price for a better experience.
- Low consumption preferencesof consumers are more concerned about practicality, price and basic satisfaction of function, they tend to choose cost-effective products and pay less attention to brand and added value.
The reason for choosing payment ability and preference as the classification dimension is that these two dimensions together affect consumers’ purchasing decisions. The ability to pay determines the price of products that consumers can afford, while preferences affect their tendency to choose brands and product attributes.
By combining these two dimensions for market segmentation, brands can more accurately identify different consumer groups and tailor appropriate product strategies and marketing plans for them.
To achieve these three challenges, product managers will only continue to appreciate
Good product managers are very scarce, and product managers who understand users, business, and data are still in demand when they go out of the Internet. On the contrary, if you only do simple communication, inefficient execution, and shallow thinking, I am afraid that you will not be able to go through the torrent of the next 3-5 years.
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Next, we will further explore the types of consumers with different preferences and payment capabilities (taking the US market as an example), as well as their respective consumer psychology, income levels, lifestyles, and other characteristics.
1. Low payment ability – low consumption preference: basic demand type
The consumption demand of consumers with low payment ability and low consumption preference is based on demand, and the specific analysis is as follows.
Consumer psychology:Such consumers have limited purchasing power and are primarily focused on meeting basic needs. Price is a major concern for them, so they tend to buy products that are inexpensive and have simple functions. Branding and additional features have less impact on them, with offers and discount information being the main drivers.
Income level:Usually the annual income is between $20,000 and $40,000.
Lifestyle:Life is relatively frugal and values savings and basic living security. Consumption behavior is more conservative, mainly focusing on the purchase of daily necessities, and rarely buying non-essential goods or luxury goods.
Representative figures:Su Chun in the TV series “Snail House”. Su Chun’s job is stable, but his salary is limited, his lifestyle is pragmatic, and he pays attention to the basic needs of his family, which typically reflects the psychology and behavior of this type of consumer.
2. Low payment ability – high consumption preference: leapfrog desire
The consumption demand of consumers with low payment ability and high consumption preferences is leapfrog desire, which is analyzed as follows.
Consumer psychology:Although such consumers currently have limited purchasing power, they have a strong interest in high-end goods and brands. They usually keep an eye on promotions and discounts, and are even willing to pay a higher price for their favorite brands in certain specific cases. This type of consumer has high consumption potential and may gradually shift to higher-end consumer goods when income increases in the future.
Income level:Usually the annual income is between $20,000 and $40,000, but the spending power often exceeds the income level.
Lifestyle:Focusing on future quality of life improvements may control spending at this stage, but there is still a strong desire to buy, especially in the field of high-end goods. They may often browse discounts on luxury goods, electronics, or other high-end brands.
Representative figures:Xiang Nan in the TV series “Struggle”. Although Xiang Nan’s income is not high, he still pursues the quality of life, especially the yearning for high-end goods, and is willing to spend money or even moonlight or debt consumption for luxury brands or higher-quality goods.
3. Medium payment ability – low consumption preference: cost-effective
The consumption demand of consumers with medium payment ability and low consumption preferences is cost-effective, and the specific analysis is as follows.
Consumer psychology:Although such consumers have moderate purchasing power, they are more concerned about the functionality and practicality of goods. They are willing to pay for items that are reliable in quality and reasonably priced, but do not focus too much on branding and additional extras. Cost-effectiveness is at the heart of their consumption behavior, and they want value for money.
Income level:Usually the annual income is between $40,000 and $80,000.
Lifestyle:Stable life, focus on financial management and savings, consumption habits tend to be practical, and usually choose mass brands or cost-effective products.
Representative figures:Ross Geller in the American TV series “Friends”. Ross is a university professor with a stable income, but in his daily life he does not pursue luxury, but pays more attention to the actual functionality of goods, which is in line with the characteristics of pragmatic consumers.
4. Medium payment ability – high consumption preference: quality and peace of mind
The consumption demand of consumers with medium payment ability and high consumption preferences is quality and peace of mind, and the specific analysis is as follows.
Consumers with moderate payment ability but high consumption preferences pay more attention to product quality assurance and user experience when shopping. They have a certain economic strength and are willing to pay a premium for high-quality goods with guaranteed service.
Consumer psychology: They pay attention to brand reputation and the long-term value of products, pursue the “sense of security” in the process of use, not only look good but also easy to use, pay attention to practicality and be willing to enjoy life.
Income level: Annual income is usually between $40,000 and $80,000.
lifestyle: The pace of life is fast, focusing on efficiency and quality, preferring a shopping experience with simple consumption decisions and perfect services, and tending to choose brands with a certain reputation.
Representative figures: Monica Geller in the American TV series “Friends”. As a chef, she has high requirements for the quality of life, pays attention to details and pursues perfection, and is often willing to spend more money to buy trusted brands and supplies, reflecting the characteristics of quality and peace of mind consumers.
5. High payment ability – low consumption preference: rational restraint
The consumption demand of consumers with high payment ability and low consumption preferences is rational and restrained, and the specific analysis is as follows.
Consumers with high payment ability but low consumption preferences show significant characteristics of “rational restraint”. They can afford to buy expensive goods, but they are usually not driven by brand aura or trends, and focus more on the practicality and long-term value of the product.
Consumer psychology: Consumption is not a way to show off their identity for them, but a means to solve practical problems. They may buy high-priced products, but it’s usually based on thoughtfulness and careful selection rather than impulsiveness or comparison.
Income level: Annual income is usually more than $80,000.
lifestyle: Pursue efficiency, quality, and simplicity, often practice “decluttering” or “minimalist life”, and advocate the value of “less is more”. Prefer high-end products with reliable performance and low-profile design.
Representative figures: For example, Jobs. Although he is a billionaire, he has been wearing the same style of black T-jeans for a long time in his life, focusing on focus and efficiency, reflecting a typical rational and restrained consumption style.
6. High payment ability – high consumption preference: the ultimate pursuit type
The consumption demand of consumers with high payment ability and high consumption preferences is the ultimate pursuit type, and the specific analysis is as follows.
These consumers have high paying power and strong spending preferences, often paying a premium for seeking unique product experiences or luxury indulgences. When choosing goods, they pay attention to brand value and the uniqueness of goods, and are willing to do itLuxury, personality, qualityPay high fees.
Consumer psychologyFor them, consumption is not only to meet needs, but also to reflect their attitude towards life. They pursueThe ultimate in enjoyment and self-expression, pay attention to the reputation and uniqueness of the brand, and are willing to pay for unique goods and experiences enjoyed by a few.
Income level: Annual income is usually more than $80,000.
lifestyle: They have a luxurious and elegant lifestyle, like unique high-end goods and personalized services, and advocate personalized luxury consumption. Prefer premium experiences such as customization, limited editions, and top-of-the-line designs, and enjoy enjoyment beyond the ordinary.
Representative figures: For example Tony Stark (Iron Man) in the movie. He not only has huge wealth, but also pursues the ultimate in innovation and personal taste, paying attention to luxury and experience in life, reflecting the typical characteristics of “luxury enjoyment” consumers.
