Value: It’s less about dollars, more about sense

Sense of Value

Many of our buying decisions are purely emotional. It’s a primal response that results in the “impulse buy” and the “last-minute purchase.” However, there are times when we do our “homework” before pulling out the credit card. In these scenarios, whether subconsciously or not, we devise a purchasing strategy based on our unique sense of value. We’re contemplating the benefits we’ll receive minus the price we pay to arrive at our personal value equation.

Choices – Advantage or Dilemma

Choice can be a double-edged sword. Not having buying options limits our ability to analyze and compare, which could potentially lead to buyer’s remorse after the purchase. Too many choices, on the other hand, can lead to decision paralysis, resulting in an empty shopping cart.

There are often scenarios where choices challenge our sense of value. Consider those times when a buying decision involved comparing different types of products that produced the same result. It’s these situations that put your value expertise to the test.

For example, consider the following comparisons:

Hammer vs. Nail Gun

Hand Saw vs. Circular Saw

Snow Shovel vs. Snow Blower

With these comparisons, each of the products will perform the same intended task.

• Hammers and Nail Guns will both embed nails in wood
• Hand Saws and Circular Saws will both cut wood
• Snow Shovels and Snow Blowers will both remove snow from sidewalks and driveways

It’s easy to see that the products differ significantly in price. However, there are intangibles that now enter the equation. That being the time and effort required to use them, each which have an impact on value.

Time is Money

If price is the primary motivator, then choosing between products that are represented in the above examples would be easy.  The complication arises when we place value on our time.  For many of us, “time is money,” and like money, we will do our best to save it. In these scenarios, we adjust our value equation to justify the higher price given the trade-off that the use of a product saves in time.

So, what’s your time worth to you?

You Can’t Put a Price on Health

Another intangible that influences our buying behavior is the physical effort required to use a product and the potential impact that its use has on our health and safety. Returning to our examples, it’s not difficult seeing the difference both in price and the physical effort required to use a shovel or a snow blower. In a 2015 study, an average of 11,500 people are treated each year in emergency departments across the United States for such injuries as heart attacks, broken bones, and other conditions related to injuries from shoveling snow.

In these scenarios, we factor the negative impact of your health into the value decision.

• • What will be the cost of each lost day at work?
  • What will be the cost of prolonged injury to my family?

Surviving Winter

Source: Existential Ennui

Last December, we published a post on choosing the right tool to remove snow from your roof. In that post, we looked at several tools comparing their cost, time and the effort required to use them.

For those who live in high snowfall areas, removing snow from driveways, sidewalks and rooftops is a necessity to survive the winter. Given the conditions inherent to the season, additional emphasis needs to be placed on the value of the time spent outdoors and the physical effort required when working outside. Your time and safety are invaluable factors to consider when choosing a tool to remove rooftop snow.  SnowPeeler was developed to specifically address those needs enabling you to clear your roof 2-3 times faster than conventional tools while keeping both feet firmly on the ground.

Happy Shopping!