Social and psychological product value perceptions: An exploratory study

Abstract

The distributed value is perceived by the customer as the difference between the total value and the total cost of the product (good, service, idea, information, experience), also corresponding to the perceived value of use of the product, which includes experiences, sensations and mental states. Note that the total cost to the customer comprises all types of costs, financial (price, ability to pay, opportunity cost) and non-financial costs (physical, psychological and social aspects related to the use of the product, such as accessibility, embarrassment, usability, etc.), in which he expects to incur to evaluate, obtain and use the product. The tetrad-value theory (Carvalho & Sousa, 2015, 2018) enhance the traditional approach of the Triple Bottom Line (Elkington, 1997) and includes economic, social, ecological and psychological values. The economic value exists in all type of product, being the basis for its existence in the market. For the organization, this type of value consists of revenue and profit, which may not only be of a financial nature. For example, for an organization with social purposes, non-financial profit goes through the effective fulfillment of its specific mission. The economic value for the customer has to do with the satisfaction of their need through the product acquired. There may also be economic value for society, through job creation and wealth growth, as well as economic externalities, which are shared by various stakeholders. (...)