In the VALS Framework, Consumers Motivated by Ideals Are Guided

question 254

Multiple Choice

In the VALS framework, consumers motivated by ideals are guided by knowledge and principle. __________ choose familiar products and brands, favor American-made products, and are generally brand loyal.

• A)Believers
• B)Thinkers
• C)Makers
• D)Experiencers
• E)Achievers

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Definitions:

Club Membership

Club membership describes an individual's subscription or affiliation with a private group that offers access to exclusive resources or activities.

Price of Y

The market value or cost assigned to good Y, influenced by factors like supply, demand, and market conditions.

Discount

A reduction from the full price or standard cost of a good or service, often used to stimulate sales or clear inventory.

Equivalent Variation

An economic concept measuring the change in income needed to reach an individual's utility level before a price change, holding prices constant.