In the VALS Framework,consumers Can Have Abundant or Minimal Levels

question 88

Multiple Choice

In the VALS framework,consumers can have abundant or minimal levels of psychological,physical,and material resources.One segment with abundant resources,known as __________,are successful,sophisticated,take-charge people with high self-esteem and abundant resources of all kinds.

• A)Experiencers
• B)Innovators
• C)Makers
• D)Achievers
• E)Strivers

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Definitions:

Differentiation

The process of making a product, service, or business model stand out from competitors, often through unique features, quality, or branding.

Innovation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Strategy

A plan of action or policy designed to achieve a major or overall aim, often involving tactics and resource allocation.

Supplier Power

The influence that suppliers may have over a company, often due to the scarcity of their product or the lack of alternative suppliers.