Chapter 3: Perceived Value
When I go grocery shopping, I tend to get the same few staple items for the week. Avocados, bananas, carrots, chicken, hummus, one too many bagels. Then I'll look for something unusual that I'd want to try. I've noticed that, without fail, I will gravitate towards products that are branded as health oriented, have hints of green on the packaging, or list health benefits on the front. I love to feel like I'm spending my money on something that is "good" for me, even if it is a bit more expensive. The extra money that I'm throwing down moves to the back of my mind when I purchase a product whose branding I feel I can identify with (in this case - healthy food!).
These products are positioned within Wegmans to provoke certain stimuli within consumers. The organic snacks aisle, for instance, is very intentionally set up in a way that draws a consumer's eye to specific products, has the green Wegmans "Organic" label plastered everywhere, and gives customers the feeling that they're buying products that will benefit their wellbeing.
In my case, the produce section makes me feel like a kid in a candy store. Overwhelmed with excitement and possibility.
I have this theory. Everybody has their "money pit".
This is a series of products that a consumer will splurge on above all else. For some this may be audio equipment, car parts, clothing, or even food. These products hold more value for specific consumers and less for others.
My friends will never understand why I spend the money I do on clothing and shoes. My perception of the value of my wardrobe is much different than theirs. I have friends who spend thousands on their cars, keeping them in peak condition and "souping them up" so they can reach ludicrous speeds on the highway. I just enjoy getting from point A to point B in my VW Rabbit, and have little to no understanding of their perceived value of automobile customization.
Interpretation of these stimuli, and the products that they stem from, explains why some of us are more willing to spend money on certain products than others. Marketing to consumers' schema is incredibly effective because of this. It allows marketers to tailor marketing messages and branding to not only provide sensory stimuli to consumers, but also evoke a sense of identity with their products.
It works very well.
These products are positioned within Wegmans to provoke certain stimuli within consumers. The organic snacks aisle, for instance, is very intentionally set up in a way that draws a consumer's eye to specific products, has the green Wegmans "Organic" label plastered everywhere, and gives customers the feeling that they're buying products that will benefit their wellbeing.
In my case, the produce section makes me feel like a kid in a candy store. Overwhelmed with excitement and possibility.
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| Heaven on Earth might just be Wegmans. |
I have this theory. Everybody has their "money pit".
mon·ey pit
ˈmənē pit/
noun
- 1. a category of products that a specific consumer has no problem spending large amounts of money on."My money pit is expensive coffee"
synonyms: cash hole, slippery slope, please help me I'm broke
2. a large hole in the ground, filled with dollar bills.
My friends will never understand why I spend the money I do on clothing and shoes. My perception of the value of my wardrobe is much different than theirs. I have friends who spend thousands on their cars, keeping them in peak condition and "souping them up" so they can reach ludicrous speeds on the highway. I just enjoy getting from point A to point B in my VW Rabbit, and have little to no understanding of their perceived value of automobile customization.
Interpretation of these stimuli, and the products that they stem from, explains why some of us are more willing to spend money on certain products than others. Marketing to consumers' schema is incredibly effective because of this. It allows marketers to tailor marketing messages and branding to not only provide sensory stimuli to consumers, but also evoke a sense of identity with their products.
It works very well.
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