Whenever you’re making a purchase, just keep in mind. Given that the quality is better are some functional value you are getting but many times, what you are paying for is a hedonic value because it makes you feel better, it makes them feel successful. But why do people spend $100 thousand and thousands of dollars on very expensive Rolex watches? Rolex WatchesĪ Casio watches that costs about $5 gives you the perfect time, a utilitarian value. Hedonic and Utilitarian Value from Casio Watches Vs. But if they’re buying it for some experiences or some psychological benefit, then, in that case, it is hedonic value. If they were buying it for a certain function, then that’s utilitarian value. Whenever customers think about a purchase, they think about it in terms of why they are buying it.

Similarly, if you go on a vacation, then what is it that you have the vacation? There is a very good experience, unforgettable memories? All those things are hedonic value because there is no functional benefit apart from maybe if I get some health benefits, then there is no functional benefit of that kind of expenses that people make. Yes, in most cases, it makes you feel that you have accomplished something, which is a psychological value and hedonic value (hedonic benefits) Hedonic and Utilitarian Value from Vacation But why did I buy a car? Does buying a new car makes you feel good? Thinks of a car, the functional value or the car’s utilitarian value is to get you from point A to point B. Many products generally have a utilitarian and hedonic value component, the example of ice cream mentioned above. It depends on who you are and what mood you are in, the nostalgia you might have. You can think of it as a psychological value and subjective value because the hedonic value is very subjective. Maybe we eat ice cream not only because it provides us with the functional benefit of energy and its sweetness, but also ice cream because many times it makes you feel good and that is the value that is called Hedonic value. Why do we eat ice cream? Why do we eat food? Because it provides nutrition. Hedonic and Utilitarian Value Examples Hedonic and Utilitarian Value from Ice Cream The value received is derived entirely from the emotions and actual experience associated with consumption and not because of some functional value. Hedonic Value can be defined as the immediate psychological gratification that comes from experiencing some activity or from consumption of a product. When a consumer buys something that gives them utilitarian value, it basically means that that particular product they are buying is giving them some functional benefits.

Utilitarian value it can be called functional value and is associated with the functional benefits that a customer gets from a product. Utilitarian Value (Functional Value) and Hedonic Value What is Utilitarian value?

Hedonic value definition