Consumer Segmentation Research Paper

Just recently I finished my research paper on the systems and concepts that are used to categorize consumers into distinct groups to be marketed to.  I'd like to reflect on several points that peaked my interest in my research and development of my paper.

One method used to segment consumers that was discussed in class was the VALS system, which seemed to be a very popular and modern choice for marketers and advertisers.  However, during my research I uncovered another method, the LOV (List of Values) that involves providing subjects with a list of values and having them rank them or having them choose their two most important values.  What was interesting is that in one research paper I uncovered, which was slightly dated (1978) it compared the two systems and found that the LOV system was more effective in segmenting consumers.  But in our class readings the only method given was the VALS system and other methods were left out completely.

And later during research I found that the method described in class readings was actually a revised version of the VALS system; termed VALS 2.  However, this distinction was not brought up in the reading and the new version was misleadingly labeled VALS.  The updated version of VALS has slightly different consumer categories and contains only eight categories and not the original nine.  I wonder if the new version of VALS, VALS 2, is now more effective than the LOV system.  I would like to find more research on the comparison of the updated VALS 2 version and the LOV method and see which ones are used more commonly by marketers and advertisers.