A single product may create different value to different people depending on the personality, need and

situation. Our group decided to choose a shoe as our product.

For me, when I buy a shoe I look for comfort and stability first. As I have a surgery at my knee, my fist
concern would be to get a shoe, which keeps my knee stable.

For my roommate, it depends on what he is buying for. He has different shoes for different purposes. If it
is a running shoe, he prefers lightweight, breathable shoes. If it is a workout shoes, he prefers a shoe with
a good stabile sole and grip.

My other friend who lives in his country (Not USA), he only buys shoes for formal dress. Therefore, he
chooses high quality and high fashionable shoes with good brand name as it portrays his status.

My colleague, who works in a manufacturing plant, always buys heavy shoes, which has longer durability
and can protect him from workplace haphazard.

I know a relative who is an active environmentalist. He prefers to buy ecofriendly shoes. He prioritizes
eco-friendliness and comfort simultaneously.

Though shoes created different value to others, as most people prioritize on functionality and monetary
constraints, they like to have an affordable and comfortable shoe.

Value can be perceived form 4 aspects. They are:

1. Functional
2. Monetary
3. Social
4. Psychological

Each individual is different when it comes to prioritizing which aspect he wants to put first. Priorities
depends on different extrinsic and intrinsic factors. Such as- requirements and needs, buyers’ individuality
and preferences, socio cultural values, socio-economic condition. For example, sneakers are very common
for everyday use as a part of casual dress in USA. However, in some part of the world, they are just exercise
or sports shoes.