The Elements of Value

The Elements of Value

1. Value

   • Is made up of different elements that satisfy different consumer needs
     • encourage loyalty and growth​
   • is in the eyes of consumers

2. 30 elements based on Maslow's pyramid

   • Functional
     • They help simplify, organize and make everyday tasks more efficient.
     • Examples: Reduce effort, Simplify Save time, Reduce costs, Generate money, Provide access, etc.
   • Emotional
     • Create an emotional connection with the consumer.
     • Examples: Reduces anxiety, attractive design, nostalgia and entertainment, etc.
   • Life changing
     • Directly impact the consumer's life
     • Examples: motivation, self-realization, hope, etc
   • Social impact
     • Affect society
     • Examples: transcendence, affiliation and therapeutic value.

3. Bain & Company research

   • surveys of more than 10,000 consumers
     • Net Promoter Score (NPS) and revenue growth were used.
   • Results
     • Companies that excel in multiple value elements have more loyal customers
       • Apple, Samsung, USAA, TOMS

4. My favorite brand (Nike)

   • Functional Value: a refreshing drink that quenches thirst and is available anywhere in the world.
   • Emotional Value: It is associated with happiness, friendship and shared moments, its advertising campaigns connect emotionally.
   • Life-Transforming Value: It is part of traditions and celebrations that promote a better lifestyle.
   • Social Impact: It invests in sustainability programs, such as recycling and reducing its carbon footprint.