When consumers evaluate a product or service, they tend to focus on two things: firstly, price and secondly it’s perceived value. However the brand manufacturing, and the marketers promoting, the product/service tend to focus much of their time and energy on the price-side of the equation. Why? Because it’s far easier to manager and evaluate its impact, with a rise in profits immediately leading to a boost in profits. However understanding what consumers ‘value’ is essential when it comes to improving offerings and designing new products!
Bain Research have put together a handy interactive infographic, identifying 30 different “Elements of Value” that are key when considering how to market your product. These elements have then been split into four categories: functional, emotional, life changing and social impact.
Click on the picture to check out all the different elements, and even have a go at identifying which ones you offer!
For more information on the range of shopper marketing insights and in-depth research offered by the Delta Group please visit the contact page and get in touch with your local office.
October 17, 2017 | Blog