MKT 344: Consumer Behavior

Topic: Market Segmentation

Submitted by:
Name: Md. Kamrujjaman Rafi
ID: 1620258030
Section: 05

Submitted to:
Ms. Fairuze Chowdhury
Lecturer
Department of Marketing and International Business
Task 1:
Personal consumer profile table
Age 18-25
Gender Male
Marital Status Single
Demographics Income Under 3,00,000 BDT
Education Undergrad
Occupation Business
Motivations Safety & Security
Personality Extroverts
Psychological Perceptions Moderate Risk
Learning High involvement
Attitudes Negative Attitude
Region Dhaka
Climate Tropical monsoon
Geodemographic Density of area Urban
City Size Major metropolitan area
Psychographic (Lifestyle) Segmentation Economy-minded
Cultures Bengali
Religion Islam
Sociocultural Subcultures Bangladeshi
Social Class Middle class
Family life cycle Full Nest 2

Task 2 – A:
I’m Md. Kamrujjaman Rafi. I live in Dhaka, Bangladesh located in South Asia. This is a very
densely populated country. I’m 24 years old, male and undergrad student. I’m living with my
parents and my marital status is single.  Besides my studies, I do business. We’re running an
advertising agency. My annual income is on average 300,000 lakh Taka. As a consumer, when
my expectation and actual performance is equal or exceed, I would like to buy those products. I
don’t want to pay extra for the brand. I don’t want to take high risk. I love to learn every day not
only that I also want to increase my skill and knowledge every day. As an entrepreneur, I always
make myself updated about what’s going on. Daily I watch a single episode of Shark Tank and
also the Business Standard newspaper. Whenever I plan to buy something, I research a lot about
product quality, customer reviews. I have a negative attitude about everything. I have Bengali
cultural and Islamic mindset. I belong to a middle-class family for that I have a very negative
mindset towards luxury products. I and my father is the only source of our family income. My
siblings are too young to earn. 

Task 2 – B:
I’m a biker. It saves my time and money. Dhaka is a city of traffic. Without having a bike it’s
quite impossible to move around. Suzuki Gixxer is my favorite product.

The bike is a dream for a large number of young people especially for males and who are aged
between 18-25 years old. For Suzuki, my age and gender matches their requirements. Many
people don’t want to ride a bike when they are getting married because bike accidents are very
risky. It costs death sometimes. When people get married they have some people to look after not
only that research says it has a major impact on life. As I am single, I won’t care about those
responsibilities. Besides my studies and I do business, I had to move a lot. And I have a
moderate income.  Based on Demographics segmentation I’m a potential customer for Suzuki.
Based on Geodemographic segmentation, I’m also a potential customer because I live in Dhaka,
Bangladesh. Dhaka is the city of traffic. It’s quite tough to move fast here without a bike. I don’t
want to pay more and I have a negative mindset towards buying. Suzuki offers the best product
than competitors. Suzuki Gixxer and Yamaha Fazer these two bikes' performance is the same but
I have to pay extra 60,000 Tk if I buy Yamaha. So I don’t want to pay more. I did research when
I bought my bike. On the basis of customer reviews and expert opinion, I didn’t go for Yamaha.
So on the basis of Psychological and Psychographic I’m a very potential customer for them.
Suzuki offers different types of bike. Each segment comes with different price range. Gixxer is
for the middle class. So, based on Sociocultural, I buying behavior would be in their favor.

Task 3 – A:
Achievers are motivated by the desire for achievement. Achievers have goal-oriented lifestyles
and a deep commitment to career and family. Their social lives reflect this focus and are
structured around family, their place of worship, and work. Achievers live conventional lives, are
politically conservative, and respect authority and the status quo. They value consensus,
predictability, and stability over risk, intimacy, and self-discovery. With many wants and needs,
Achievers are active in the consumer marketplace. Image is important to Achievers; they favor
established, prestige products and services that demonstrate success to their peers. Because of
their busy lives, they are often interested in a variety of time-saving devices. (Lynch, 2020)

I think achievers describe me most. I’m a goal orientated person. I have committed to my career
and family. There is nothing more important than my career and family. I sacrifice many events
of my life just to maintain my career and family.

Task 3 – B:
Life is nothing but achievements.

Task 4 – A:
Task 4 – B:
Every human being is different. It is very tough to identify someone’s behavior by asking some
questions. Vals framework basically designed for Americans. I think this won’t work for us
properly. But it is true that I have some traits and beliefs that make me Innovators and
Experiencers. Innovators are successful, sophisticated, take-charge people with high self-esteem.
Because they have such abundant resources, they exhibit all three primary motivations in varying
degrees. They are change leaders and are the most receptive to new ideas and technologies.
Innovators are very active consumers, and their purchases reflect cultivated tastes for upscale,
niche products and services. I believe in teamwork. It is very tough to do something alone. I
always promote my collogues and my team members. In my profession, we had to organize
events in a very short time. We had to work in a team and also maintain a zero communication
gap. I love traveling. I started work as a freelance photographer in 2014 just to travel. As a
Higher secondary student, it was very tough for me to make money. My friends took classes in
many small coaching’s but I had a bad buzz on that. I need skills and experiences. Then working
with many local renowned brands like Canvas magazine, Stylecell, Smartex, I started a small
wedding event management business. After running it two years I was bored because I’m not
learning anything new. The same thing repeatedly did for two years. Then I started a job. I joined
Leatherex Fashion & Footwear as their Digital consultant. Then again I did the same. After
working 8 months there, I stopped working there. Finally, now, I and my partner running an
advertising agency. We’re working with Bangladesh Navy for the last two years. Working with a
defense force is fun. I had to shoot many documentaries for them. They let us allow in many
places where this is impossible for any civilian to travel.  Experiencers are motivated by self-
expression. Young, enthusiastic, and impulsive consumers, Experiencers quickly become
enthusiastic about new possibilities but are equally quick to cool. They seek variety and
excitement, savoring the new, the offbeat, and the risky. Their energy finds an outlet in exercise,
sports, outdoor recreation, and social activities. Experiencers are avid consumers and spend a
comparatively high proportion of their income on fashion, entertainment, and socializing. Their
purchases reflect the emphasis that they place on looking good and having "cool" stuff. I think
it’s not book that shaped a man, it’s the experiences he goes through. (Lynch, 2020)

Appendix
1. Lynch, A. (2020). VALS Consumer Types | Annette Lynch. Retrieved 11

February 2020, from https://uni.edu/lynch/vals-consumer-types