Often we talk about value and we mean “financial value” a concept that can be measured in dollars and cents or pounds and pennies or whatever currency is near to hand. However, financial value is not the only motivating factor for users and consumers to invest in a product. In fact, it is the perception of value both financial and non-financial that drives the decision to adopt (or not) a product.
It’s often said that it’s important to give a user what they need through product design and not to examine wants at all. It is true that if a product fails to meet a user’s needs – they are unlikely to find it useful and thus, unlikely to adopt it.
The article then explains:
- Needs, wants, demands
- Perception of value – four concepts of value
- Engaging with perceived value
- What value is enough value?
The more value a user perceives in a product compared to its cost; the more likely they are to adopt that product in their lives. Good read!
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