Positive business experiences are products where the consumer doesn’t know the value before purchase, such as books or films. Post-experience goods, like vitamins, have unknown value even after consumption. Good research products, like hammers, have a known value before purchase.
A positive business experience refers to a product for which the consumer initially does not know the quality and value of the item, other than the price. The good is usually a commodity such as a book or film, and the value is discovered after consumption. A variant of positive experience is a post-experience good, where the value is not fully known even after consumption. Good research, in contrast, is a product such as a tool or an airline ticket, for which the consumer knows the quality and value before consuming it.
Among the many types of products, a positive experience is one in which the consumer does not know the value of the product before purchasing and using it. These items are usually bought for entertainment or as an impulse buy and the buyer can only guess at the item’s true value before it is used. After using or experiencing the good, the consumer will know the true value of the item.
For example, a book is a positive experience. There may be a shelf of books, all at the same price, but the consumer doesn’t know which ones are good and which are bad. After reading the book, the consumer should know if the book was worth the money.
Some variables can lead to an estimate of the value before buying a good experience. If the consumer likes or knows the author, has flipped through the pages, read online reviews, and talked to friends about the book, then they may have an idea of its value. These variables help the consumer estimate, but he or she still won’t know the true value until the product is consumed.
Post-experience goods go beyond experience goods. With these products, the consumer does not know the true value of the item even after experiencing the good. Vitamins fit that description. Even after consumption, most consumers will not know if the vitamins are achieving their intended purpose.
Contrary to experience, good products are research products. These goods have a known value before being purchased. For example, if someone buys a hammer, he knows what the hammer will be used for and how useful it will be. There are some variables that can increase or decrease this value, such as quality, material and color, but these variables are usually known before buying and consuming the product.
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