What Does the Horizontal Dimension of the VALS™ Framework Represent

question 53

Multiple Choice

What does the horizontal dimension of the VALS™ framework represent?

• A)Degree of innovativeness
• B)Level of resources
• C)Consumer needs
• D)Primary motivation

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and easy entry and exit from the market.

Nonprice Competition

A marketing strategy where companies attract customers through methods other than price, such as quality of product, service, or brand image.

Pure Competition

A market condition characterized by a large number of small firms, identical products, and free entry and exit, leading to price-taking behavior.

Product Differentiation

A marketing strategy that businesses use to distinguish their products from similar offerings on the market.