Topic > Tangible versus intangible goods, which ones have a higher value...

Tangible goods versus intangible ones, which ones have a higher value today? Since the first human economic relationships, tangible goods, those that can be felt and touched , played a predominant role as an object of exchange. Over time, with the course of history, intangible aspects of products (those that cannot be touched or felt) such as personal attachment attributes, place of origin of goods, visual appearance and design, aesthetics, status or social properties are increased significantly. A developed and prosperous society is characterized by a high level of education, advanced technological development, increased social awareness and strengthening of services, being vivid examples of intangible parts of the economy (Thrassou & Vrontis, 2009). This transformation clearly constitutes a shift in consumer value which is defined as the trade-off between the price paid and the benefits received which play a fundamental role in the buyer-seller exchange (Zeithaml, 1988). Therefore, with most of the basic concerns already resolved in developed countries, this article focuses on exploring the value of product intangible assets, which seems to become dominant in the modern world. According to the theory of rational consumer choice, buyers enter the market with a good probability defined preferences. Recognizing needs, consumers start by searching for the products they want. The parcels of goods found are classified according to preferences. Acting rationally, buyers evaluate all the imposed benefits and costs and choose a product that brings the greatest personal utility, representing its value (Frank & Cartwright, 2013). A modern consumer manifests a sophisticated set of desires intended to satisfy an ever-widening range of interests and goals in life. With a substantial level of wealth consumers enjoy a luxury... middle of paper...). The results demonstrate that the monetary aspect, being a tangible aspect, is still valued above the noble behavior aspect. Consumers have rationally chosen to pay less attention to the intangibles behind products. The power of an intangible side of a modern economy is investigated. Rational choice theory suggests a strong argument that in today's world rational people tend to place more and more value not just on the direct, utilitarian functions of everything they purchase. While consumers do not shy away from the material part, taking it for granted, priority is given to the intangible qualities of a product. In the form of preferred brands and other marketed features, shoppers gain desired “value-added” benefits: enhanced experiences, feelings, and social attributes. Therefore, value in a prosperous society appears to be predominantly intangible in nature.