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Perception of Value

The famous philosopher Gustave Flaubert famously once said "there is no truth, only perception". We all perceive certain objects, products or services to be of a certain value to us but how exactly do we calculate this value in our minds? We decided to take a look at the things that influence our perception of value and discovered some interesting facts and trends that highlight changing perceptions.

For instance, did you know that lobster, which is perhaps the most exclusive and expensive food to eat in a restaurant today, was once considered fit to be consumed by only the poorest in our society. This transformation to fine dining was the result of a well thought out plan to completely change our perception of the value of this shellfish and was a complete success. Read on for more interesting facts relating to our perception of value and how it influences our purchasing decisions.