LG, a Consumer Electronics Manufacturer, Recently Introduced a 55-Inch Internet-Capable

question 54

Multiple Choice

LG, a consumer electronics manufacturer, recently introduced a 55-inch Internet-capable, 3-D OLED (organic light-emitting diode) HDTV. As its marketing manager, you have used lifestyle analysis in the past, particularly the VALS system, to help you profile your customers. Which of the following VALS profiles would be the most likely target market for this product?

• A)Survivors
• B)Believers
• C)Experiencers
• D)Achievers
• E)Innovators

---

Definitions:

Decrease in Demand

This occurs when the quantity of a good or service that consumers are willing and able to purchase at a specific price level declines, due to factors such as changes in preference or income.

Long-Run Equilibrium

A state in which supply and demand are balanced, and all economic variables are at their natural levels, not influenced by external short-term fluctuations.

Firms in the Industry

Businesses or companies that produce goods or provide services within a specific sector of the economy.

Output

The quantity of goods or services produced by a firm, industry, or economic system.