Consumers evaluate products or services based on price...

and perceived value.

Companies tend to focus on price. It's easier to understand and manage.

Value is harder to define or measure.

Yet knowing what consumers value is critical when it comes to improving offerings... or creating new ones.

So what do consumers value?

Bain research has identified 30 Elements of Value.

They fall into four categories...

with roots in Abraham Maslow’s hierarchy of needs.

The most basic needs are functional.

Consumers also value products that meet their emotional needs.

Some products have value because they are life changing...

and some even change the world.

The more elements companies deliver, the higher their loyalty and revenues soar.

Understanding this can help companies improve their offerings, create new ones...

...or identify gaps that competitors might try to exploit.

  • Self-transcendence
  • Wellness
  • Simplifies
  • Attractiveness
  • Provides hope
  • Design / aestheics
  • Fun / entertainment

Explore the Elements of Value

Share