In the VALS Framework, Consumers Who Place Importance on Image-Not

question 280

Multiple Choice

In the VALS framework, consumers who place importance on image-not as evidence of power or status, but as an expression of cultivated tastes, independence, and character-are referred to as

• A)Actualizers.
• B)Innovators.
• C)Achievers.
• D)Makers.
• E)Strivers.

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Definitions:

Market Demand Curve

A graph that shows the relationship between the price of a good and the quantity of that good all consumers are willing to purchase at each price level.

Consumption

The act of using goods and services for personal needs or wants.

Demand Curve

A graphical representation showing the relationship between the price of a good and the amount of it that consumers are willing to purchase at various prices.

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a given price in a specified period.