![]() Whenever you’re making a purchase, just keep in mind. Given that the quality is better are some functional value you are getting but many times, what you are paying for is a hedonic value because it makes you feel better, it makes them feel successful. But why do people spend $100 thousand and thousands of dollars on very expensive Rolex watches? Rolex WatchesĪ Casio watches that costs about $5 gives you the perfect time, a utilitarian value. Hedonic and Utilitarian Value from Casio Watches Vs. But if they’re buying it for some experiences or some psychological benefit, then, in that case, it is hedonic value. If they were buying it for a certain function, then that’s utilitarian value. ![]() Whenever customers think about a purchase, they think about it in terms of why they are buying it. Similarly, if you go on a vacation, then what is it that you have the vacation? There is a very good experience, unforgettable memories? All those things are hedonic value because there is no functional benefit apart from maybe if I get some health benefits, then there is no functional benefit of that kind of expenses that people make. Yes, in most cases, it makes you feel that you have accomplished something, which is a psychological value and hedonic value (hedonic benefits) Hedonic and Utilitarian Value from Vacation But why did I buy a car? Does buying a new car makes you feel good? Thinks of a car, the functional value or the car’s utilitarian value is to get you from point A to point B. Many products generally have a utilitarian and hedonic value component, the example of ice cream mentioned above. It depends on who you are and what mood you are in, the nostalgia you might have. You can think of it as a psychological value and subjective value because the hedonic value is very subjective. You eat a lot of ice cream because it makes you feel good, and You can think of it as being in your head hedonic value is all in your head.
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