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Hello Team,
When the important value drivers for a purchase decision are pyschological rather than monetary, it is best to avoid incorporating quantified value estimates into market communications, because value is subjective and will vary from individual to individual. However, one should not conclude that subjective values, such as those that a customer might reveal in a conjoint research study, cannot be influenced by communication. There are two ways to do this. One is to focus the message on high-value benefits that the customer might not have been thinking about when considering the differentiating features of the product. The second is to raise perceptions of the product's performance benefits that cannot be easily judged prior to experiencing them. Batteries all look and feel the same, even after one begins to use them. Not until they are entirely consumed can one actually know the life, and even then one would have no comparison unless two brands were bought and used side-by-side. shows the storyboard for a Duracell commercial. The advertisement is effective in clearly specifying the linkage between the Duracell battery's key differentiating feature of longer life with the benefits that might bring to a variety of customers. Notice that the ad does not mention price or estimates of monetary value its goal is to establish Duracell's differentiation.
Regards,
Saiyid
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