Affluent Society Values Intangibly Essay

798 words - 4 pages

A well-known quote from Publilius Syrus states that “Everything is worth what its purchasers will pay for it.” This quote indicates that value is the worth in monetary terms of technical, economic, service and social benefits consumers, while company receives prices consumers are willing to pay in the market business (Anderson & Narus, 1998). In extension, value can be clarified into tangible or intangible. Tangible value obviously is product itself, while intangible value compromises knowledge and benefits. According to Maslow’s Hierarchy of Needs, there are five stages of human needs. Simplifying them into two categories, the bottom two items are needs for survival, like water, air, ...view middle of the document...

Last, which is also most valuable and advanced, is the intangible benefits. It will increase customer loyalty to a company while customers would also acquire a sense of community.

As more and more products and service depending on the exchange of knowledge, information and intangible benefits, knowledge and intangible benefits increasingly grab market managers’ attention. Intangible knowledge and information support the core product and supplement service value chain. These intangibles do help the company runs smoothly and build relationship with customers. One representative is collaborate design work. As for intangible benefits, they are advantages that expand from one person or one group to another. For example, Harley-Davidson successfully builds its brand culture and its consumers found their customer community with Harley motors. The gathering of loyal customers attracts new customers and makes customers familiar with the brand.

An observation that many applications have been used in the online shops’ marketing strategy implies the theory ‘value network’ is steadily adopted by market managers (Tapscott, Lowy, & Ticoll, 2000). As customers can see, many manufacturers’ websites sell its products, while also sell its competitors’ products. The implication behind could only be apprehended if people accept exchanges of knowledge and intangible benefits. This savvy company focuses on knowledge and intangible benefits like customer’s feedback, market intelligence, and even competitive intelligence. In this case, the company emphasizes on intangible value rather than financial revenue as it does not target at its own sales revenue, the spotlight is on intangible value under competitive circumstance.

Too often, market...

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