Asked by Minmint Vanichvorasakul on May 08, 2024
Verified
The two dimensions of the VALS framework, needs and wants, helps to explain why different consumer groups exhibit different behaviors, and why different consumer groups often exhibit the same behaviors for different reasons.
VALS Framework
A psychographic tool that classifies consumers into eight categories based on their responses to a questionnaire, used for market segmentation.
Consumer Groups
Collections of individuals or organizations that act together to advocate for the rights and interests of consumers.
Different Behaviors
Varied actions or reactions of individuals in response to external or internal stimuli, differing across contexts or situations.
- Become familiar with the distinct bases for market segmentation (demographic, geographic, psychographic, and behavioral).
Verified Answer
Learning Objectives
- Become familiar with the distinct bases for market segmentation (demographic, geographic, psychographic, and behavioral).
Related questions
The Value and Lifestyle Survey (VALS)conducted by Strategic Business Insights ...
Differences in Weather and Climate Create Opportunities for Marketers to ...
Baby Boomers Represent a Huge Demographic Segment for Travel Marketers ...
When a Marketer Adjusts the Marketing Mix to Give Customers ...
Jerome Has Found That Both Commercial and Residential Real Estate ...