It is no secret that the value you create for your customers with your products and services will either make or break your business.

But did you know that “universal building blocks” of value exist and you can leverage these to create, bolster, and propel your business forward?

In the August 2018 issue of Rotman Management, Eric Almquist and Jamie Cleghorn presented “The Elements of Value” models for consumers and for business to business. These models are based on their extensive research and fit nicely into the Maslow Hierarchy of Needs framework. This post provides the basics for their Business to Consumer model.

The Consumer Value Pyramid

According to the authors and their research, there are 30 fundamental building blocks of value in the business to consumer model. These 30 elements organize nicely into a four level Hierarchy of Needs pyramid. They are shown in the diagram below and, for the most part, the model is self explanatory.