VALS, Formerly Known as Values and Lifestyles, Is a Psychographic

question 66

True/False

VALS, formerly known as Values and Lifestyles, is a psychographic tool used to create consumer segments based on consumers' resources and primary motivation.

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Definitions:

Cost-plus Pricing

A pricing strategy where a fixed percentage or markup is added to the total cost of producing a product or service to determine its selling price.

Return on Investment

A measure used to evaluate the efficiency of an investment or compare the efficiency of a number of different investments, calculated by dividing the benefit (return) of an investment by the cost of the investment.

Markup

An enhancement on the fundamental price of goods designed to absorb administrative expenses and yield profit.

Absorption Costing

This method in accounting ensures the total cost of producing a product encompasses expenses on direct materials, direct labor, and all overhead costs, both variable and fixed.