When consumers buy a product or service, what are they really buying?
The value consumers sense in a product can be very straightforward or it can be a mix of emotions, product features, and hope. At times, hard to pin down, often difficult to articulate, the answers are more likely derived and observed rather than answered straight out. At the most basic level, consumers are buying the difference a product makes in their life.
Often, the answer spans a range of territories born of rational features and laddering through to their emotional space. They may be buying a solution to a problem, it may be personal enrichment, or self-expression. Understanding the value as consumers understand it is key to keeping them engaged and understanding how others might be attracted to your brand. At the end of the day, products bring consumers the benefits as they see them - a philosophy that underlies our approach to research.