[Manic Monday] Perception Of Value For Digital Music
We live in times when actual value and perceived value are rarely the same thing. Even that piece of paper you use as money, has more relation to perceived value as to actual value, as the number written on the money is almost definitely more than the actual value of the paper it was made with. Money is represented by specially-printed pieces of paper as a form of guarantee from the government, that it represents the number printed on it; harking back from old times (as recently as the 20th century) where every piece of money was guaranteed its value in gold, kept safe in government safes.
Brands are also a skilfully-played game of perceived value – a good brand would be able to communicate values beyond ‘just’ the production price and effort to make their products, and thus are capable to charge prices, and even encourage customer loyalty. Some other brands play the “cheap” card, as they are usually in commoditized industries and can only compete by price or by feature, or a combination of price and feature.
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