Economic Value Strategy

1. Economic Value Strategy:
   1. Consumers get economic value when a product provides

tangible monetary savings either at the time of purchase or over

its long-term use.

1. What is your product’s economic value?

• How do consumers derive economic value from your product?

1. How does this strategy perform in the competitive landscape?

2. Functional Value Strategy:
   1. Consumers consider not only the price but also different features, or the functional value of a product.
   2. What is your product’s functional value?

• How do consumers derive functional value from your product?

1. How does this strategy perform in the competitive landscape?

3. Experiential Value Strategy
   1. Consumers get experiential value when a product provides

intangible benefits associated with the experience a consumer derives from a product or service. Keep in mind these are intangible benefit and therefore harder to establish. But it is also harder for competitors to imitate.

1. What is your product’s experiential value?

• How do consumers derive experiential value from your

product?

1. How does this strategy perform in the competitive landscape?

4. Social Value Strategy
   1. Social value refers to the social capital consumers may derive

from a product.

1. What is your product’s social value?

• How do consumers derive social value from your product?

1. How does this strategy perform in the competitive landscape?

Conclusion