{"id":66,"date":"2016-09-08T17:14:46","date_gmt":"2016-09-08T17:14:46","guid":{"rendered":"http:\/\/box5686.temp.domains\/~itamargi\/how-people-perceive-value\/"},"modified":"2016-09-08T17:14:46","modified_gmt":"2016-09-08T17:14:46","slug":"how-people-perceive-value","status":"publish","type":"post","link":"https:\/\/itamargilad.com\/how-people-perceive-value\/","title":{"rendered":"How People Perceive Value"},"content":{"rendered":"<h4>And Why It Matters So Much for Your\u00a0Product<\/h4>\n<figure class=\"wp-caption\">\n<p><img decoding=\"async\" data-src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/9aa07-1jnfnklbhwhd2m643cstj4q.png\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\"><noscript><img decoding=\"async\" src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/9aa07-1jnfnklbhwhd2m643cstj4q.png\"><\/noscript><figcaption class=\"wp-caption-text\">Ren\u00e9 Magritte<\/figcaption><\/figure>\n<p><strong>Value for user <\/strong>(as opposed to value <em>of<\/em> a user) is a critically important product concept. Arguably it\u2019s at the bottom of product\/market fit, product design, growth, pricing, marketing, sales, customer satisfaction\u2026 Few things help products and services succeed more than injecting them with lots and lots of value. Getting value right makes everything else easier\u200a\u2014\u200athe product can be buggy (think Windows 3.0), user experience can suck (Facebook\u2019s first mobile app iterations), your marketing budget may be zero (Google search in its early days) and yet people will find your product, use it and love it. On the flip side if you can\u2019t demonstrate good value early and clearly, no one will stick around to try your product a second time.<\/p>\n<p>We intuitively know what value is, but finding a formal definition is surprisingly tricky. <a href=\"https:\/\/www.google.com\/url?q=https:\/\/en.wikipedia.org\/wiki\/Value_%28economics%29&amp;sa=D&amp;ust=1473270206974000&amp;usg=AFQjCNGTiUhWsE1V8DCT7yikxvNM9yDVig\" target=\"_blank\">Economists<\/a>, <a href=\"https:\/\/www.google.com\/url?q=https:\/\/en.wikipedia.org\/wiki\/Value_%28marketing%29&amp;sa=D&amp;ust=1473270206974000&amp;usg=AFQjCNGDb-y-e8WIZdpgQy4H2_tLz-XLPg\" target=\"_blank\">marketeers<\/a> and <a href=\"https:\/\/www.google.com\/url?q=http:\/\/www.ijdesign.org\/ojs\/index.php\/IJDesign\/article\/view\/61\/29&amp;sa=D&amp;ust=1473270206975000&amp;usg=AFQjCNGE7j8Rc38u4hVvhCWSMMkD5Lun-Q\" target=\"_blank\">designers<\/a> all came up with somewhat different takes on it. I\u2019ll use a very non-formal definition:<\/p>\n<blockquote><p><em>Value is the property we assign to a thing\u200a\u2014\u200aa product, a service, a person, an experience, that indicates how important, worthwhile or beneficial we think it is for\u00a0us.<\/em><\/p><\/blockquote>\n<p>Also this:<\/p>\n<blockquote><p>Perceived values and perceived costs are the main tools we use to prioritize and choose between the many things that are vying for our limited resources.<\/p><\/blockquote>\n<h4>How We Perceive\u00a0Value<\/h4>\n<figure class=\"wp-caption\">\n<p><img decoding=\"async\" data-src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/0a334-0jj89llncoi5gqwlh.jpg\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\"><noscript><img decoding=\"async\" src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/0a334-0jj89llncoi5gqwlh.jpg\"><\/noscript><figcaption class=\"wp-caption-text\">\u201cThis is not a pipe.\u201d\u200a\u2014\u200aThe Treachery of Images \/ Ren\u00e9\u00a0Magritte<\/figcaption><\/figure>\n<p>One obvious thing to say about value is that it is not a objective<em> <\/em>property, say like weight or color. Different people may assign radically different values to the same thing. Hence we\u2019re talking about <em>Perceived Value\u200a\u2014\u200a<\/em>what we perceive the thing to be worth<em>.<\/em> Here\u2019s how it works (note: lots of this is loosely adapted from <a href=\"https:\/\/www.google.com\/url?q=https:\/\/scholar.google.ch\/citations?view_op%3Dview_citation%26hl%3Den%26user%3DgBo3SSgAAAAJ%26citation_for_view%3DgBo3SSgAAAAJ:_FxGoFyzp5QC&amp;sa=D&amp;ust=1473270206976000&amp;usg=AFQjCNHAEgvdbjjp18dP2jSBpy5ZE0JMBA\" target=\"_blank\">Holbrook<\/a>, the leading researcher of user value. I should say that I\u2019m just touching on the main points here):<\/p>\n<ul>\n<li>\n<strong>Value is subjective<\/strong>\u200a\u2014\u200awe assign value based on our values, preferences, beliefs and social norms. For example an audiophile may consider a $10,000 state-of-the-art hifi system good value, while her twin sister that has the same demographics and upbringing but not the audio sensibilities, may find a $100 portable bluetooth speaker over the top.<\/li>\n<li>\n<strong>Value is relative to cost<\/strong>\u200a\u2014\u200aSince our ape ancestor that went for the low-hanging fruit, we are all about maximizing bang-for-the-buck. Nothing is truly free\u200a\u2014\u200awe can pay with money or with other scarce resources\u200a\u2014\u200atime, effort, attention, mental load, physical or logical space, bandwidth, battery life\u2026 Cost can take many forms\u200a\u2014\u200aif your product is missing a few features that the user came to expect, that\u2019s a cost. If it\u2019s a bit harder to use or it makes the user think, that\u2019s a cost too. There\u2019s also usually a switchover cost from what the user is using now. Users sum up the costs, but it\u2019s a weighted sum\u200a\u2014\u200asome things are more important than others. John T. Gourville <a href=\"https:\/\/www.google.com\/url?q=https:\/\/hbr.org\/2006\/06\/eager-sellers-and-stony-buyers-understanding-the-psychology-of-new-product-adoption&amp;sa=D&amp;ust=1473270206978000&amp;usg=AFQjCNF971AAccoy0pVskIeNRkkEKJs6Qw\" target=\"_blank\">pointed out<\/a>, that product teams tend to underestimate the cost and overestimate the value of the new product, while users do the opposite.<\/li>\n<li>\n<strong>Value is relative to alternatives<\/strong>\u200a\u2014\u200abefore buying an electric car I\u2019ll consider traditional gasoline\/diesel car. As I compare the two options I will not do a full feature-by-feature analysis, but rather focus on to a few salient points that matter to me: the electric car is better for the environment and more economical, but the gasoline car uses tried-and-tested technology and does not give me charge anxiety. Again my preferences and values will determine how I weigh those.<\/li>\n<li>\n<strong>Value is contextual\u200a<\/strong>\u2014\u200athe environment and circumstances of the user can play an important role in value assignment. A bicycle is more likely to be considered high-value as a means of commuting in Amsterdam than say in Anchorage. Part of user context is social norms. If I work in a company where suits are expected I may value a pair of jeans less.<\/li>\n<li>\n<strong>Value assignment is often fast and intuitive<\/strong>\u200a\u2014\u200awhen we evaluate something we rarely do a deliberate, thoughtful and thorough analysis. In typical human fashion we revert to <a href=\"http:\/\/www.scientificamerican.com\/article\/kahneman-excerpt-thinking-fast-and-slow\/\" target=\"_blank\">fast, shallow thinking<\/a>\u200a\u2014\u200a<a href=\"https:\/\/en.wikipedia.org\/wiki\/Framing_effect_%28psychology%29\" target=\"_blank\">narrow-framing<\/a> the question, or replacing it with a simpler question like which option feels better. The takeaway is that even if you genuinely deliver tremendous value, you need to make this easily understandable with little or no need for deep, slow thinkning.<\/li>\n<li>\n<strong>Value changes over the lifetime of using the product<\/strong>\u200a\u2014\u200athe first evaluation often happens even before the user used the product, purely based on available info and hearsay, so users may come primed with an expectation of value (high or low), even a value fantasy. With first use, we form a more realistic, if still somewhat superficial, opinion which may be in contrast with the expectation. Most users will not find the cost-to-value tradeoff good enough and given the choice will opt out. Those that do see enough value may buy, or start using, and then with continuous use will shape a more informed perception of value. As the user becomes more proficient and invested, value often grows, sometimes to the point that we become dependent on the product. But if the need goes away or a superior alternative shows up, value may drop sharply. After stopping to use the product we take away a lasting value perception that is somewhat biased by subjective memory.<\/li>\n<\/ul>\n<h4>The components of\u00a0value<\/h4>\n<figure class=\"wp-caption\">\n<p><img decoding=\"async\" data-src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/51e05-0vza9capuggeqkqs.jpg\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\"><noscript><img decoding=\"async\" src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/51e05-0vza9capuggeqkqs.jpg\"><\/noscript><figcaption class=\"wp-caption-text\">Personal Values \/ Ren\u00e9\u00a0Magritte<\/figcaption><\/figure>\n<p>Value can be broken into on three main components. The composite of the three gives total value, but as always it\u2019s weighted by users\u2019 personal biases. As you read this imagine a 3-dimensional axis and think how your product stacks up on each axis.<\/p>\n<ul>\n<li>\n<strong>Functional value<\/strong>\u200a\u2014\u200aFunctional value refers to the utility the product gives us in completing specific tasks. This is the most easy to understand type of value\u200a\u2014\u200awhether you need to get from point A to point B, find information online or furnish an apartment, there are products and services out there that will help you get the job done, and they compete on engineering-like metrics: functionality, efficiency, durability, robustness\u2026 Being techies we spend most of our time building and optimizing functional value, but it\u2019s by no means the only type of value, or even the most important one.<\/li>\n<li>\n<strong>Social value<\/strong>\u200a\u2014\u200aWe are social animals and care deeply (even if not always consciously) about our place in the social ladder and what others think about us. Social value refers to the socially-oriented benefits we gain from using or owning a product\u200a\u2014\u200afor example cultivating ties and networks, status and prestige. Social value is often not obvious or even fully conscious, but it can play an important role in product choice. For example, I may tell myself that I chose to buy a $12,000 Rolex because I care about accuracy and reliability (functional traits), but in fact a $30 digital watch would be far more accurate, reliable and functional. The Rolex, however, is loaded with social value. In the simplest terms it makes me look good; first in the literal sense\u200a\u2014\u200amaking me look more elegant and attractive, a definite social benefit. Second it helps me project a certain image\u200a\u2014\u200awealth, sense of style, life preferences, which in turn makes me look like I belong in the upper echelons of society. The $30 digital watch, on the other hand, will send all the wrong signals for those same reasons and thus detract social value. Buyers of luxury watches seem to find the $11,970 premium worthwhile. The takeaway is that making our users look good is a major win, yet we almost never think of our products in these terms.\u00a0<br \/>As a more elaborate example, social networks, and to a large degree messaging apps, go much further in providing social value. They allow us to grow our social graphs manyfold and to cultivate ties with low effort. All it takes is a friend request and the occasional positive comment or Like. Massively cheaper compared to the old way of doing things\u200a\u2014\u200aphones calls, emails, birthday cards. On the receiving end these small and cheap tokens of attention do the work. We get reassurance that people remember us and care, and that our place in society is secure. Clear social value again. There are many other subtle social mechanisms at play, each with it\u2019s own value\u200a\u2014\u200asurveying the social landscape and learning who\u2019s connected with whom and how it affects us, comparing ourselves to others, learning what\u2019s in fashion and adopting it, staying in the loop on social events and much more. Of course there\u2019s the all important business of making us look good to others by showcasing the version of ourselves that we wish to project. With all this value, no wonder we spend so much time using social services, especially in our teen years when we\u2019re most sensitive to social status.<\/li>\n<li>\n<strong>Self \/ Emotional \/ Psychological value<\/strong>\u200a\u2014\u200anot all of our non-functional needs are about other people. We have intrinsic needs that are generally, though not always, about making us feel good. Firstly there\u2019s good old fun. If it was up to us we\u2019d spend a lot more time playing Candy Crush Saga, lying on the beach, reading a good thriller or watching TV. There\u2019s no real functional value in these activities, and while they may carry social value, the main purpose is to gratify ourselves, not others. There are massive industries built around this type of value\u200a\u2014\u200agaming, media, entertainment, travel, but any product that manages to inject fun into its workings stands to gain value. Other internal needs include: a sense of self worth and meaning, growth, beauty, spirituality, and many more. Going back to the watch example, I definitely may derive selfish pleasure from its beauty and mechanical elegance, irrespective of what others think. The watch also sends me the same implicit signals that it sends to my social circle, enhancing my sense of self worth and reassuring me that I\u2019m doing well.\u00a0<br \/>Not everything we value is strictly about us. There are intrinsic needs to do with the greater good: protecting the environment, helping those who are less fortunate, saving endangered species&#8230; All things being equal, a product that is environmentally friendly, was not tested on animals or is helping children at risk is of higher value than one that doesn\u2019t (and it gives the product team a higher sense of meaning and value as well).<\/li>\n<\/ul>\n<h4>Getting Value Wrong (We All Do\u00a0It)<\/h4>\n<figure class=\"wp-caption\">\n<p><img decoding=\"async\" data-src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/d10de-0auuhf72qwhgcqseh.jpg\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\"><noscript><img decoding=\"async\" src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/d10de-0auuhf72qwhgcqseh.jpg\"><\/noscript><figcaption class=\"wp-caption-text\">Collective invention \/ Ren\u00e9\u00a0Magritte<\/figcaption><\/figure>\n<p>Imagine that you just launched that highly anticipated new app or product feature after twelve months of hard work. Against all odds user reaction is underwhelming\u200a\u2014\u200afeedback amounts to \u201cMeh\u201d, retention is low, usage and growth are abysmal, revenue non-existent. Yes, low product-market-fit rears its ugly head. To put this in user value terms, most likely one of the following has happened:<\/p>\n<ul>\n<li>\n<strong>Not enough value<\/strong>\u200a\u2014\u200athe product is not successful in delivering a sufficiently good mix of Functional, Social and\/or Self values (simplified version: doesn\u2019t help users get something important done, doesn\u2019t make them look good, doesn\u2019t make them feel good). It\u2019s possible that the product is flawed, but more often than not you\u2019re simply addressing a need that doesn\u2019t exist. We tend to overestimate the benefits our products bring and the severity of the problems they solve. So much so that stopping to ask real users seems unnecessary. Unfortunately fixing value post-launch is much harder\u200a\u2014\u200ayou\u2019re under the gun with a ticking clock. It\u2019s far better to get a deep understanding of values and costs as early as possible in the project. User-centered design and LEAN methodology are all about helping you do this.<\/li>\n<li>\n<strong>Not enough value compared to cost<\/strong>\u200a\u2014\u200awe are generally averse to losses. Costs, be they money, time, effort, mental load, etc. are perceived as losses. The gains (value) should therefore sufficiently outweigh the losses (costs). Again, product developers who are usually not the end users struggle to foresee what users will find prohibitively costly. For example users in the emerging markets may switch off app updates on their phones because of the perceived cost in data usage and memory. I\u2019ve seen people refusing to upgrade to the latest version of a product because they found the new color scheme too distracting. The perceived loss of concentration was a cost they didn\u2019t wish to pay. To fix this you can lower the cost (lowering the price, simplifying the product, addressing the thornier issues, making switch-over easier), add more value, or both.<\/li>\n<li>\n<strong>Not enough value compared to alternatives<\/strong>\u200a\u2014\u200ayou\u2019re competing against similar products and also against whatever the user is using now. Even if your product is first-of-a-kind, inertia and fear of the new make us feel that it\u2019s both easier and safer to stay with what we know and understand even if on paper it\u2019s inferior (early adopters are the exception). For example if you\u2019re developing a cheap mini-drone designed to take selfies, you need to compete both with other selfie drones and with selfie-sticks. The latter are likely cheaper, more reliable, simpler to use and better understood. Your drone needs to do something really significant to justify the switch. The difference in functionality doesn\u2019t necessary have to be major, though. For example building a photo sharing app that makes your photos artsy, beautiful with one click and lets you seamlessly publish the result (functional, social and self value) can be a billion dollar venture.<\/li>\n<li>\n<strong>The users didn\u2019t understand the value<\/strong> <strong>or are \u201cchange-averse\u201d<\/strong>\u200a\u2014\u200aproduct teams somehow find this explanation the most plausible and spend many cycles building enhancements to \u201ceducate users\u201d\u200a\u2014\u200ateach them how to use the product or explain what\u2019s so great about it. Even worse, we try to nag users into using the product again in the hope that the second time will bring enlightenment (it\u2019s worse because now your product detracts value). Unfortunately these solutions very rarely work as the real problem is almost always one of insufficient value. That\u2019s not to say you shouldn\u2019t help users discover the value, but it\u2019s much better to show than to tell. The value should be evident in use from the very first moment, ideally without having to go through a five-step onboarding flow. For example if you\u2019re building a game, make sure that the users are quickly in-game, playing and being entertained. If a particular activity drives high value (e.g one-click photo filters) put it front and center. Another key point is that the last experience often forms the impression (which is why some airlines give you chocolates close to landing), so try to end the experience on a high value note. Again, knowing <strong>your<\/strong> product\u2019s key value points will go a long way in helping you build these experiences.<\/li>\n<\/ul>\n<h4>Building for\u00a0value<\/h4>\n<figure class=\"wp-caption\">\n<p><img decoding=\"async\" data-src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/338ad-0-uhnb0rtawki9k66.jpg\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\"><noscript><img decoding=\"async\" src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/338ad-0-uhnb0rtawki9k66.jpg\"><\/noscript><figcaption class=\"wp-caption-text\">Ren\u00e9 Magritte<\/figcaption><\/figure>\n<p>There\u2019s a lot to say about how to use value when building products and services, but that\u2019s probably a topic for another blog post, if people are interested. Here are some thoughts in no particular order.<\/p>\n<ul>\n<li>Learn early what values and costs users find in your product and how they stack up. These can be quite surprising and unintuitive. The best way to do this in the early stages of the product is through direct user research and min-viable product iterations. You should then steer your product in the direction of higher value.<\/li>\n<li>Find a way to measure perceived value through the lifecycle of of your product and do it continuously. You can get a sense of value indirectly through metrics like satisfaction and price sensitivity, or directly using surveys, interviews, A\/B experiments and so on.<\/li>\n<li>Understand how value perception changes over time. What people like on day 1, on day 7, day 14 and on day 90. This may have interesting implications for your product, for example you may wish to promote some features or capabilities in later stages of use.<\/li>\n<li>Find what perceived values and costs users find in competitor products. This will give you an idea what will get people to switch.<\/li>\n<li>Be cognizant of Social and Self values. We\u2019re not thinking of those nearly enough and they can make or break your product.<\/li>\n<li>Consider reminding users what value they\u2019re getting in subtle ways. For example some travel sites graphically show that they are scanning and sorting through other travel sites\u2019 offering to find the very best deal. Research shows that this made users appreciate the service more.<\/li>\n<li>The most crucial moment to demonstrate high value is at first encounter. Show, don\u2019t tell.<\/li>\n<li>Don\u2019t suck more value than you give. We dislike people that are needy and are constantly asking for things. Products and services are no different. Be patient and ask them to do things for you later, after you gave them lots of value.<\/li>\n<\/ul>\n<p>Looking at the world through the lens of values and costs my sound like standard economics, but as I tried to show, it\u2019s anything but. It\u2019s all about tuning into the distinctly human way we evaluate things: functional, social and self benefits, heuristics and fast thinking, conscious and subconscious biases, all leading to what we perceive to be best bang-for-the-buck. Armed with this knowledge we stand to build better and more relevant products, and acquire satisfied and loyal users.<\/p>\n<figure class=\"wp-caption\">\n<p><img decoding=\"async\" data-src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/41158-0abncagjqqlgmszju.jpg\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\"><noscript><img decoding=\"async\" src=\"http:\/\/box5686.temp.domains\/~itamargi\/\/wp-content\/uploads\/2018\/10\/41158-0abncagjqqlgmszju.jpg\"><\/noscript><figcaption class=\"wp-caption-text\">Mysteries of the horizon \/ Ren\u00e9\u00a0Magritte<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>And Why It Matters So Much for Your\u00a0Product Ren\u00e9 Magritte Value for user (as opposed to value of a user) is a critically important product concept. Arguably it\u2019s at the bottom of product\/market fit, product design, growth, pricing, marketing, sales, customer satisfaction\u2026 Few things help products and services succeed more than injecting them with lots [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[7,12,18,29,42],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How People Perceive Value - Itamar Gilad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/itamargilad.com\/how-people-perceive-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How People Perceive Value - Itamar Gilad\" \/>\n<meta property=\"og:description\" content=\"And Why It Matters So Much for Your\u00a0Product Ren\u00e9 Magritte Value for user (as opposed to value of a user) is a critically important product concept. 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