best when a companys leaders recognize their ability to spark growth and make value a priority. The concept of value remains rooted in psychology, but the elements of value can make it much less amorphous and mysterious. The broad appeal of smartphones stems from how they deliver multiple elements, including reduces effort, saves time, connects, integrates, variety, fun/entertainment, provides access, and organizes. For example, they are twice as likely as online-only retailers to score high on badge value, attractiveness, and affiliation and belonging. The elements can help them identify new value once again. We are unable to process your request at this time.
Those insights, combined with the consumer research, informed ideation sessions with a project team consisting of people from all customer-touching departments across the bank, not just marketers. Most of these elements have been around for centuries and probably longer, although their manifestations have changed over time. We need a little more information to find your subscription; please enter your email address and your subscription account number: Sign In to your existing HBR. The Answer, the authors describe 30 elements of value that meet four kinds of needfunctional, emotional, life changing, and social impactand that, when optimally combined, increase customer loyalty and revenue growth. Maslow himself took a more nuanced view, realizing that numerous patterns of fulfillment can exist. A version of this article appeared in the September 2016 issue (pp.4653) of Harvard Business Review. It has chosen product features that closely correspond to those in our model.
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