This definition is very good although it doesn't really take into account how values come about. Yes they can be in your culture but the big debate is nature or nurture. Do you gain your beliefs by your family or your surroundings? It really is a case of who has the biggest impact on you. If you are close to your parents then you will be influenced heavily by them gaining your values (if you have any) from them or on the other hand if you were independent when growing up, school, friends, teachers etc. will influence the things you value.
Personally I feel that treating others how you want to be treated is essential. If everybody did this then everyone would get along. Simple.
From my perspective, having good friends is a value. My friends are up with fashion. Therefore in order to feel a part of a group I have to keep up with fashion. Seeing several mannequins lined up with all the latest fashion strategically placed on them plays on the value to be accepted in a group of friends.