The VALS System Divides Consumers into _____Categories

question 232

Multiple Choice

The VALS system divides consumers into _____categories.

• A)five
• B)six
• C)seven
• D)eight

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Definitions:

Product Development

The complete process of bringing a new product or service to market, from the initial idea through design and manufacturing, to sale.

Existing Markets

Markets that already have an established customer base, product offerings, and competitive landscape, as opposed to newly created or emerging markets.

Situation Analysis

An assessment process that identifies an organization's internal strengths and weaknesses, along with external opportunities and threats in its environment.

SWOT Analysis

A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.