Final answer:
The 'Survivors' segment within the VALS™ system is the consumer group that values practicality and self-sufficiency. They are conservative, frugal, and prefer familiar products and services, focusing on meeting basic needs.
Step-by-step explanation:
The VALS™ (Values and Lifestyles) system classifies consumers into eight different segments based on their values and lifestyles. Each segment represents a distinct group of people who share common characteristics. The VALS™ segment that values practicality and self-sufficiency is known as the 'Survivors' segment. These consumers are characterized by their conservative and conventional approach to life. Survivors are frugal, resourceful, and prefer familiar products and services over new or exotic ones. They take pride in their ability to manage with what they have, and they rarely indulge in unnecessary luxuries. This segment tends to be cautious and focused on meeting basic needs rather than aspiring to a more affluent lifestyle.