Perceived value.

Have you ever wondered

Why someone paid for An Italian Artist ‘Invisible Sculpture’ for $18,300?

Why Kanye West fans bid up to $60,000 on bags of air taken from his Yeezus gigs?

Why someone paid for a piece of NFT digital art for $69.3 million?

I am always curious about things like this.

Is value really what it’s worth or how it makes you feel?

Are we just associating with a brand to help boost our self-worth?

The possibility is endless.

A perceived value refers to the perspective or opinion of a customer towards a product or service which is often influenced by how the goods and services met the needs and expectations of the customer.

Is value fixed or relative?

Value does not exist in the absence of consciousness, ergo value is relative.

Value arises from economic utility. That is, value is the quantitative measure of utility.

Anything that gives a consumer satisfaction is said to have some utility. When a person attaches a quantitative measure to that utility (in terms of money) it is said to be of value; value is expressed in terms of money.

I shared a video of a lady who has made over $25,000 sharing farts on a live camera.

The things that are valuable to you might not be valuable to me. Hence, the value is relative.