Which of the following best describes 'values' in consumer behavior?

Values in consumer behavior are best described as individuals' broad life goals and aspirations. This understanding of values encompasses the deep-seated beliefs and principles that shape a person's decisions and lifestyle. These values often influence what consumers prioritize and seek in their lives, which in turn affects their purchasing decisions and brand loyalty. For example, a consumer who values sustainability may prefer products from companies that prioritize environmentally friendly practices.

The other options do not capture the broader and more fundamental nature of values. Preferences for branding elements are more superficial and pertain to marketing tactics rather than core values. Specific characteristics of a product focus on the tangible features rather than the intrinsic motivations of a consumer. Marketing strategies to attract consumers are techniques employed by companies and do not reflect the internal guiding principles of the consumer themselves. Thus, the correct answer aligns with the foundational role that personal values play in shaping consumer behavior.