The Values and Lifestyles (VALS)typology Uses a Two-Dimensional Structure Based

question 50

Multiple Choice

The Values and Lifestyles (VALS) typology uses a two-dimensional structure based on:

• A) geographic variables and consumer perceptions.
• B) consumer behavior and product characteristics.
• C) primary motivation and resources.
• D) self-orientation and product differentiation.
• E) target marketing strategy and product positioning strategy.

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Definitions:

Anchoring

A psychological tendency to overemphasize the importance of the first information encountered (referred to as the "anchor") when one is making choices.

Overpriced Warranties

Service contracts sold at a price significantly higher than the expected cost of repairs, often yielding high profit margins for sellers.

Behavioral Economics

A field of economics that studies how psychological, social, cognitive, and emotional factors affect economic decisions of individuals and institutions.

Large-Screen TVs

Televisions with significantly larger displays than standard units, offering enhanced viewing experiences.