Answer:
VALS (Values and Lifestyle Survey) is a proprietary research methodology used for psychographic market segmentation.
VALS groups consumer segments based upon two dimensions: primary motivation (ideals, achievement, and self-expression) and resources (energy, self-confidence, intellectualism, novelty seeking, innovativeness, impulsiveness, leadership, and vanity). VALS ("Values and Lifestyles") is a unique research tool used to categorize psychographic markets. Market segmentation is intended to help businesses adjust their products and services to appeal to the individuals who are most likely to buy them. VALS is in use throughout the marketing process. Use VALS for: Strategic planning—such as ideation, targeting, and concept testing. Positioning—such as competitive analysis, brand differentiation, and customer retention. To find out about the likely product ownership, media preferences, hobbies, additional demographics, or attitudes of the various VALS types, the VALS Survey questions are also integrated into other, larger surveys that gather data about those topics. VALS is a marketing tool used to predict consumer behavior based on their philosophical beliefs, mechanical and intellectual curiosity, among other things. VALS stands for 'Values and Lifestyles and is a series of questions to help define target audiences. The acronym VALS, (for "Values, Attitudes and Lifestyles") is a psychographic segmentation. ... The main dimensions of the segmentation framework are primary motivation (the horizontal dimension) and resources (the vertical dimension).The current eight VALS types are: Innovators, Thinkers, Achievers, Experiencers, Believers, Strivers, Makers, and Survivors. Once individuals are classed based upon their style of living, the marketer then determines how marketing factors fit into their lives.
Step-by-step explanation:
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