Personalized value can be described through consumption benefits which are connected to the customer as a person - beliefs that guide people on how to behave throughout the day and life activities (Rokeach, 1968; Kahle, 1989)
The self-concept in personalization value is a more significant level than the self-concept in social value where the customers is not worried on not getting respect from other individuals, it is more of how they see and respect themselves. This is explained as the higher version of self-esteem because customers want to respect themselves and not because they want the respect from others. It is how customers perceive themselves (Burns, 1979).
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As every individual has his/her own values, it also means that they will perceive products differently (Oliver 1996, Huber, 2001). This can be explained through an easy example. One person is concerned about their health or is just living a healthy lifestyle which means that when buying food, this person will read the ingredients and that are preferably nutrients and less additives. The second person is just living a lifestyle in which he/she does not care about calories or nutrients, he/she values food on its taste or on the portion. The consumption value is defined as what the customers gets from the product based on their beliefs that are aligned with things they feel are important in their life (ex. principles, characteristics) (Khalifa, 2004).
In spite of the fact that the substance of society lies on its convictions, conduct, standards and qualities that are normally shared by people (Leung, 2005) which allows social desire and comprehension of the good, pretty, and others. Each individual has its own assessment so not every person has a similar point of view of what is fortunate or unfortunate and what is significant or not. Some social qualities might be recognized extensively and some might be acknowledged by the small group of individuals (Lai, 1995). Also, values in general can be performed differently for each individual because everyone is unique and has their own life goals.
People will value the product in a way of it fitting into their own characteristics and what they are looking for. They tend to accept and also reject what is and is not in line with characteristics. Personalised value is more of a self-orientation because people tend to only think of themselves and will buy product that has effect on them and based on their reaction on product (Holbrook, 1996). The value is gained when product value meets characteristics of customer value. Personal characteristic has an important role in determining the ideal product quality. This point of view suggests that the customer has distinctive objective or reason in buying a product, thus has diverse impression of value (Zeithaml, 1988). Consumers can value the products based on their physical traits, or on their image that they represent. It is when product image is matching the self-image (Sirgy, 1986).
Some other variables from consumer behavior that can be connected with personalized value, which I mentioned and wrote about in previous answers, are consumer and product characteristics which are connected in a way that people tend to purchase products that are matching their needs and wants, also the self-image which is also connected with our perception of ourselves and what we think is good for us.
REFERENCES
- Rokeach, M., 1968. The role of values in public opinion research. Public Opin Q, 32(4): 547–559
- Kahle, L., 1989. Using the list of values (LOV) to understand consumers. J Consum Mark, 6(3): 5-12
- Burns, R.B., 1979. The self-concept in theory, measurement, development, and behavior. New York: Longman
- Oliver, R., 1996. Varieties of value in the consumption satisfaction response. Advances in Consumer Research, 23: 143–147
- Huber, F., A. Herrmann and R.E. Morgan, 2001. Gaining competitive advantage through customer value oriented management. Journal of Consumer Marketing, 18(1): 41-53
- Khalifa, A.S., 2004. Customer value: A review of recent literature and an integrative configuration. Management Decision, 42(5–6): 645–666
- Leung, K., R.S. Bhagat, N.R. Buchan, M. Erez and C.B. Gibson, 2005. Culture and international business: Recent advances and their implications for future research. Journal of International Business Studies, 36(4): 357-378
- Lai, A.W., 1995. Consumer values, product benefits and customer value: A consumption behavior approach. Advances in Consumer Research, 22(1): 381-388
- Holbrook, M.B., 1996. Customer value – a framework for analysis and research. Advances in Consumer Research, 23(1): 138–142
- Zeithaml, V.A., 1988. Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence. Journal of Marketing, 52(3): 2-22
- Sirgy, J.M., 1986. Self-congruity: Toward a theory of personality and cybernetics. New York: Praeger
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