Perception of Value [#infographic]

Value is in the eye of the beholder. But what influences the beholder in their perceptions? This infographic looks at the psychology behind our perceptions, noting trends, marketing practices and differing generational attitudes. Including:

• How lobster went from prison food (at one time fetching $0.11/lb) to fine dining
• How ‘ancient grains’ got pricey
• How we experience more pleasure from a wine we’re told costs more

The infographic explores the psychology behind out  perceptions, noting trends, marketing practices and differing generational attitudes. Including how lobster went from prison food (at one time fetching $0.11/lb) to fine dining, how people are more likely to purchase items that are priced in a certain way, and how we experience more pleasure from a wine we’re told costs more. Understanding these principles can be very useful when planning marketing and advertising strategies, and therefore I think that many of your readers would find it handy.

Since price positively influences perceptions of quality, and inversely influences perceptions of value, how do sellers of mundane products use history, story, exclusivity, and implied scarcity to change our appetites? Read on to find out a little more about the Perception of Value…

Source: Vouchercloud