CONSUMERS PRODUCTS AND SERVICES VALUE PERCEPTION

Abstract

This article is a theoretical approach on products and services as value satisfiers. Consumers have knowledge about the personal, symbolic values that products, services and brands help them satisfy or achieve. Values are people’s broad life goals. Values often involve the emotional affect associated with such goals and needs (the strong feelings and emotions that accompany success). Recognizing when a value has been satisfied or a basic life goal has been achieved is an internal feeling that is somewhat intangible and subjective. In contrast, functional and psychosocial consequences are more tangible and are more obvious when they occur. Salespeople add value by identifying customer needs and devising or delivering a solution for those needs. Salespeople are able to adapt how products or/and services are presented or even to adapt products/services so that they meet the needs of the buyers. Such adaption powers professional selling, because customers often don’t know what they need or how to configure a solution to their needs. Satisfying a value usually elicits positive affect (happiness, joy, satisfaction), whereas blocking a value produces negative affect (frustration, anger, disappointment). Consumers can have products and services knowledge about products and services attributes, consequences of products or services use and personal values. Most marketing research focuses on one type of products and services knowledge – usually attributes or consequences, where the focus typically is on benefits rather than risks. Values are examined less frequently and usually in isolation. This paper objective is to show the importance of creating, delivering, and capturing buyer value. A company’s ability to deliver value to its customers is closely tied with its ability to create satisfaction for its employees and other stakeholders. Value ultimately depends on the perceiver. Smart companies not only offer purchase value but also offer use value as well.