The Implications Of Imaginative And Positional Value, As The Core Drivers Of The Contemporary Economy, For The Natural Environment

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The Implications Of Imaginative And Positional Value, As The Core Drivers Of The Contemporary Economy, For The Natural Environment

Introduction

A conducive natural environment is friendly for business operations as it provides the inputs and ecosystem services hence the sustainable business. Through the natural environment, products and services manufacturing occurs. For a sufficient flow of the company, consumers purchase products or services as payment is made, which allows for more production to take place. The consumers pay for a particular value of the product or service. The product value is determined by the cost of production and the market price, as stipulated by forces of demand and supply. Value has three divisions; the physical value, imaginative value, and positional value (Beckert, 2011). The outward appearance of the product derives the tangible value, imaginative comes from the consumer’s expectation of the quality of the product, and positional value comes from the extra factors other than physical or imaginative that a consumer can benefit from a product. These values influence attracts a customer to either purchase or fails to purchase a product. This essay will discuss the reasons why a product attracts customers to purchase it. It will then explain the interconnected imaginative value, and positional value forms of a product, and their central role in advancing contemporary global economics (through two specific examples). Finally, the impact of current economic culture on the natural environment will be discussed.

Value Definitions

Positional Value

The positional value of goods impacts the decision of a consumer to purchase a product as it surpasses its tangible value, giving people other benefits besides its functionality. This value reflects the social status and recognition that commodities bring to consumers (Beckert, 2011). The consumers’ choices of products reveal their different types of lifestyles and express part of their social identities. Therefore, the positional value of goods has a meaning that can give the owner a social identity. The goods are purchased by consumers to keep up with an individual status in the social group and not specifically for satisfaction from the product. The intention is to make other people think that those consumers have a social class, taste, money, and style.

Magnum Company

For example, Magnum ice cream entertainment offers dismissed personalized ice cream that is unique with many flavors for every customer’s choice. Magnum company was the first company providing ice-cream with a handheld stick for adult products. In 2017, Magnum ice cream improved to introducing its indulgent ice cream experience to the indulgent pop-up store. It later collaborated with Italian fashion brand, Moschino, to develop a double fashion high end ice cream bar. The company is located in London and consumers in the region highly demanded the product hence making more sales. The collaboration developed a positional value for its customers. The company provided three kinds of toppings from different types of quality ingredients hence providing a more extensive range of products. It then offered a stylish cuisine where consumers take photos and share to acquire recognition and gain fashion status. The status was not because of the satisfaction received from the product, but the condition it leaves one with after trying a new flavor. This advantage led to more purchases as the consumers wished to get the status advantage from other people. The advantage factor influence people to have a power over other people.

In the purchase of an ice cream product, a consumer is attracted to purchasing the product due to the possible likes that they gain from the public after sharing the photo. Purchase and consumption is not based on the need or satisfaction that can be derived from consuming the product but from what the third party would think and rate them in the society; the more the likes, the higher the fashion status in the society. This state leads them to find the product, consume it, get satisfaction, and send it to Instagram, where people can like. Getting ‘likes’ gives them a fashion status, which is valued in the community. Also, since the company offers various flavors, one is influenced to try a new product to share with the world and get likes. This added benefit also affects the cost or price of the product or the economic value as consumption goes up. The added advantage forms the positional value, which influences the purchase of a product.

The positional performance of a good is public as it relates to the class or status in society. Its impact depends on the meaning it has as stipulated by the community and not the consumer. Positional value comes from the luxurious products and lifestyles that are improved and recognized by the public. The urge to have a different lifestyle creates the positional value. However, lifestyle is indispensable, finite and temporary, in that, there are changes periodically; hence, improvements in products from various companies.

Imaginative Value

The imaginative value refers to that goods have characteristics affecting the personal consciousness of consumers in addition to its real value. Consumers use this product to evoke the form of their fantasy, which bases on their associations with the person or thing they want (2008). The imagination value depends on the consumer’s recognition of their products, not the importance given to them by third parties (Beckert, Jens & Aspers, 2011). In other words, when consumers buy a good, they do not need to get meaning from other people, they only need to get their recognition. When the owner recognizes the symbolic significance of the product, he will associate the symbol of the product with his imagination, to reflect the artistic value of the product. However, the source of attraction may either be real or not. Since the consumer already has an image of an expectation after purchase, they tend to buy the products to get the imagined benefit or satisfaction. This presumption may either be fulfilled or not.

British Museum

Using another example, British museum displays commemorative merchandise with different meanings and values to various people. These merchandises are of different qualities and grade for each customer who gets to the museum. As a customer purchases a product, one has an imagination of the value it would bring to them. This may be linked to an experience of the merchandise or relating to a particular scenario. The imaginative value is the factor that drives the customer to purchase the product and pay for it. The value is individually derived from a customer’s conscious mind and not from the physical qualities of the merchandise.

Imaginative value is characterized by image arousal of the state of the conscious of the customer. The image of the object alters the state of mind evoking fantasies based on symbolic associations of places, people, events or values (Beckert, 2011). For example, a customer may purchase a painting from the museum, because of the imaginative value in one’s mind that reminds them of a place they were in or wish to visit. It may also be attached to someone’s behavior, personality or physical image hence making a customer purchase the object. The imagination takes place after a person has attached the good to ideals symbolically presented in the merchandise.

Also, the need for the purchase of a product only arises after seeing the object, then the imaginative value develops. The objects are a representation of the transcendental ideas. The transcendental ideas are based on three factors; time, space and the social position. Since the symbolic meaning is from personal perspective, time influences the imaginative value as it may be connected to a certain period in one’s life. The social positioning is derived from the third party due to the possession of the specified object. The consumer may fail to notice the social positioning as one’s aim of purchased is in their subconscious and not public. People buy goods for not only what they need but also what they mean in the community. Imaginations arose images that alter the consciousness of a person hence influencing the decisions they make about a specific product (Campbell, 1987). Therefore, the imaginative value leads to the consumption of commodities.

Evaluation

Positional And Imaginative Values Dependency

The positional and imaginary values are interdependent on one another. This dependency is because when a person has the theoretical value, it leads them to get a product, and after consumption, the positional value de. As awareness of a product occurs, one makes an image in the conscious mind, on the satisfaction expected from such a product. The image formed depends on the attitude of a person and the experience of consumption. The approach matters as one may not be liking a product from the very beginning; hence may not even think of the satisfaction derived from it. Experience also influences consumption since satisfaction in the past leads one to think of a product and purchase or look at it and fail to have the urge to consume it. Also, goods value in both the positional and imaginative values are purchased for the symbolic qualities they offer. In both cases, the value of the good is based on ascribing qualities that transcend its materiality (Beckert, 2011). The quality is represented in the product and acts ideal in both values.

Positional value depends on the belief of people in society. It is not easy to trace the pervasiveness of greed, especially in luxury goods (Zukin, 2008). This dependency means that consumers rely on the ideas of the public and not the need they wish to satisfy. Also, the consumer’s desires are shaped by the community through image-making and status-seeking. The urge to get an individual status in society leads one to purchase a product (Zukin, 1982). The purchase may not be beneficial to the consumer.

The values impact consumers’ choices to purchase products in the market. As imaginative value is dependent on the attitude and experience of a person, the lack of these influences would lead to the non-existence of the values. The conscious mind forms an image, and if one has no idea about the product or service provided, it may be hard to create a picture of satisfaction expected. Imaginative value is entirely dependent on the mind of a consumer, and if the brain fails to recognize it, the purchase will fail to take place. A consumer can postpone an illusion of the fantasy value by postponing consumption, meaning if the illusion fails to exist, consumption will not occur.

Besides, the positional value depends on societal thinking. Lack of societal groups prevents the societal valuation of some products with status. Lack of societal class divisions ensures one only purchases a product they wish to have and not influenced by wanting a particular class. Therefore, the values would fail to exist in society. Also, emotions are a part of the positional value. Higher materialism consumers tend to purchase more of the luxury goods to feel comfortable and classy (Richins, 2013). This emotion may not necessarily be in the perspective of the people in society, but the comfort of oneself. The consumers experience positive emotions when anticipating, which leads to purchasing and consumption of goods and products. Lack of emotions cancels the positional value; hence no purchases take place.

Difference between Positional and Imaginative Values

However, as much as the positional and imaginary values are linked, they can be independently differentiated. First, in positional value, a third party must give the product a symbolic meaning, which forms the basis for classifying its owner by giving it a social identity (Beckert & Aspath, 2011). This occurs after the owner is aware of the status one might get frm the public after purchase. But in imaginative value, the benefit is directly linked to the advantage attached to the product and a place or person. Also, the imaginative attributes of an object only influence one to the extent that their perception is shared among members of a social group. Therefore, imaginative value comes from a person’s consciousness, and it may also be impacted by social groups in society (Beckert, 2011). Imagery value depends on one’s preferences and tastes as a person thinks of what they love or wish to have. In contrast, the positional value does not consider one’s feelings, but only what society thinks.

Positional And Imaginative Value Effect On Contemporary Economy

The positional and imaginary values drive the contemporary economy. In a modern economy, there is a flow of cash, which means that consumers pay for services, and also taxes get to the government. Through the positional and imaginary values, consumption increases; hence, increasing the flow of money in the economy. Money is the medium of exchange in the economy; thus, when consumers purchase products, the money is circulated from one industry to the other. The values influence purchase since imaginary value creates an image or the urge to get satisfaction, which leads to purchase.

Also, for the positional value, consumers buy the products to find a social status or a class in society. This behavior applies to luxurious products hence influence the circulation of money, leading to the growth and development of the economy. For example, in London, beer producers encourage to up spaces to invigorate local economies. This shows that as producers make the product available, consumers will purchase due to the positional or imaginative values and through this, the economy improves. The consumption of market-made commodities and desire-inducing marketing symbols is central to consumer culture and depend on personal choice. This then determines the flow of commodities in the economy (Arnould & Thompson, 2005).

Impact of Contemporary Economy on the Environment

Consumers’ desires are infinite; therefore, they keep purchasing more. Customers buy goods and after consumption, the desire to consume more leads them to purchase more of it. Therefore, purchase and consumption are continuous for the products provided by a company in the market. This constant desire increases the demand; consequently，companies make more developed products and ensure it continuously flows in the market with no shortages. Continuous production consumes non-renewable resources in the natural environment. Population, food production, industrialisation and consumption of nonrenewable natural resources is increasing (Meadows, Randers & Behrens, 1982)). The increase in consumption of resources negatively impacts the environment due to the derivation of raw materials. People benefit from the product but cannot create ecological value but also generate negative value when investing in labour to create the product value.

Markets are arenas of social interaction in which rights and exchange for goods and services occur for money under conditions of a competition (Aspers & Berckers, 2008). Competition influences the economy as new products and services, and other improved aspects emerge as a strategy for companies to stay in the market irrespective of the competitors’ decisions. Innovations and the creation of new products influence the environment as consumers use it. It adds more natural ways of operations and has an impact on the environment since the utilization of resources takes place in the manufacturing and production of products. Resources keep being minimal as consumers satisfy their different needs. The environment provides support to the economy as inputs for production, but consumption leads to pollution and lowering the quality and quantity of resources. Poor environmental conditions, in turn, affect the economy as deriving resources becomes a challenge to the producers.

Conclusion

Money circulation drives the contemporary economy as consumers purchase goods and services and pay for them. Imaginative and positional values from the consumer influence the purchase of products. The Imaginative value is created in the conscious mind of the consumer, depending on their experiences and attitude. Societal forces influence positional values in getting a status or class in society to gain respect from the public. Products attract customers through Imaginative and positional value. Lack of these influences may lead to the non-existence of the values. The values also depend on one another, as imaginary may lead to positional value. More importantly, the values also influence the contemporary economy as the circulation of money depends on payments made by consumers during purchase. Imaginary values may also lead to the creation of a product hence improving the environment. However, the contemporary economy affects the environment through the production of products that change the environmental conditions. The economy derives resources from the environment but may create pollution during consumption.

References

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Meadows, D., Meadows, D., Randers, J., & Behrens, W. (1982). The Limits to growth. New York: Universe Books, p 25

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Zukin, S. (2008). Point of Purchase: How Shopping Changed American Culture. Journal of Consumer Marketing, 25(4), p.10.