Wednesday, November 16, 2011

"Real" value vs. perceived value

Clip of the Week isn't until tomorrow, but that doesn't mean I can't post a video clip here today, right? Okay, cool. Besides, this one's a bit longer than the typical Clip of the Week fare, checking in at just over 15 minutes.

It's a TED talk from ad executive Rory Sutherland (Ogilvy & Mather), who gives a very insightful and wickedly funny speech about the differences between "real" and perceived value--and when they can in fact be interchangeable. It's one of the more entertaining TED talks I've seen, and I think it asks some tough questions about our current culture of consumerism. Worth a watch for sure.

To be fair, over the long term any product or concept does need to have some real value in order to survive, but that doesn't make perceived value any less important in the mind of the consumer. I wonder how often any of us thinks about how easily our perceptions can be shaped.

(h/t Barry Ritholtz)

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