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Elements of Value

When customers evaluate a product or service, they weigh ==perceived value== against ==actual price==.

Here are 30 "elements of value."

Elements of Value

  1. Functional Value

    • Time savings
    • Simplified processes
    • Revenue generation
    • Risk reduction
    • Organization
    • Integration
    • Connectivity
    • Reduced effort
    • Trouble avoidance
    • Cost reduction
    • Quality
    • Variety
    • Sensory appeal (e.g., food and beverages)
    • Alerts
  2. Emotional Value

    • Anxiety reduction
    • Reciprocity
    • Nostalgia
    • Design/Aesthetics
    • Badge value
    • Health
    • Therapeutic value
    • Pleasure/Entertainment
    • Attractiveness
    • Providing methods
  3. Life-Changing

    • Providing hope
    • Self-actualization
    • Motivation
    • Heirloom
    • Connection/Affiliation
  4. Social Impact

    • Self-transcendence