## 2 Literature Review and Research Design
### Psychographic Segmentation  
Market segmentation has had a longstanding history since [PERSON] (1956) [18] first suggested it as a product differentiation strategy to increase competitiveness. It has been widely acknowledged as a fundamental tool in understanding customer behaviors [19; 20]. [PERSON] and [PERSON] (2012) defined segmentation as \"a set of variables or characteristics used to assign potential customers to homogeneous groups\" [21]. Segmentation is critical because a company has limited resources and must focus on how to best identify and serve its customers. Initially, market segmentation was mainly rooted in personality profiles. The most frequently used scale for measuring general aspects of personality as a way to define homogeneous submarkets is the Edwards Personal Preference Schedule. Generally, however, early studies based on Edwards Personal Preference Schedule were plagued with low and even inconsistent correlations with customer behavior and preferences, and hence failed to satisfy marketers' needs [22]. One of the main reasons was that the studies used standardized personality tests that were originally developed in clinical or academic instead of business contexts [23]. Since then, the Big Five Factor personality traits--that frequently and consistently appeared in most attempts to define the basic human factors, that is, neuroticism, extraversion, agreeableness, conscientiousness and openness--have replaced the Edwards Personal Preference Schedule. Lifestyle is defined as a set of behaviors that mirrors individual psychological considerations and sociological consequences [24], and is more valid in shaping individual behavior compared to personality traits. The lifestyle construct used in market segmentation is based on research on motivation [23] and personal values [22]. [PERSON] (1994) proposed that lifestyle is a mixture of a personal life and perceived value, whereas value is a synthesis of individual attitudes, beliefs, hopes, prejudices, and demands [25]. Activities, interests, and opinions (AIO) is one of the most widely used lifestyle measurement tools [23]. It encompasses variables from rational, specific, and behavioral psychology fields as well as from sociodemographic attributes, and provides good insight into the lifestyles of individuals [26]. Indeed, individuals' value priorities are part of their basic world views, and are commonly defined as desirable, trans-situational goals that vary in importance and serve as guiding principles in individuals' lives [27]. Moreover, values are broader in scope than attitudes or the types of variables contained in AIO measures, and can be an important basis for segmentation. Generally, value inventories often only contain a handful of values instead of 200 or 300 AIO items. Therefore, scholars have begun to use simple, intuitive, and elegant values as another lifestyle-related psychographic segmentation method to replace the very extensive and burdensome AIO approach [22]. Early value-related works widely used three lifestyle measurements that are simpler alternatives to AIO: value, attitude, and lifestyle (VALS); list of values (LOV); and the Rokeach Value Survey(RVS). One of the most widely used value segmentation theories is the Stanford Research Institute's consulting values and lifestyles (VALS2) typology, which contains 35 psychographic questions and four demographic questions that link demographics and purchase patterns with psychological attitudes [28]. The RVS proposed by [PERSON] (1973) [29], LOV [30] developed by the Survey Research Center at the University of Michigan, and SVS [31] developed by [PERSON] et al. approximately two decades ago, are three widely used instruments to assess individual values and lifestyles. RVS requires respondents to rank 18 terminal values and 18 instrumental values. The terminal values are considered to be either self-centered or society-centered, and intrapersonal or interpersonal in focus, whereas the instrumental values are moral values and competence.