Strategic Business Insights, the Research Firm That Developed VALS, Divides

question 113

Multiple Choice

Strategic Business Insights, the research firm that developed VALS, divides consumers into three groups on the basis of their attitudes toward luxury. Those groups are:

• A) functional, reward, and indulgence.
• B) tangible, experiential, and necessity.
• C) fashion, entertainment, and travel.
• D) functional, experiential, and whimsical.

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Definitions:

Formal Knowledge

Pertains to information or skills acquired through structured learning or education systems.

Explicit Knowledge

Knowledge that is well documented, easily articulated, and shared, including facts, procedures, and information that can be easily communicated to others.

Experiential Intelligence

The ability to apply past experiences and knowledge to solve new and novel problems.

Contextual Intelligence

The ability to understand the limits of our knowledge and adapt that knowledge to an unfamiliar context.