Differentiate Between Basic Research and Applied Research

question 85

Essay

Differentiate between basic research and applied research.

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Definitions:

Lifestyles

The habits, attitudes, tastes, moral standards, economic level, etc., that together constitute the mode of living of an individual or group.

Brand Equity

The value that a brand adds to a product, often reflected in how consumers think, feel, and act with respect to the brand.

Demographic

Statistical characteristics of a population, such as age, gender, income, and education, used to identify and analyze market segments.

VALS Typology

A psychographic segmentation tool developed to classify consumers based on their values, attitudes, and lifestyles, helping marketers to tailor their strategies.