Final answer:
The emotional value of a brand's offering is based on the perceived social value from associating with specific groups, and is distinct from the utilitarian performance of the product or service.
Step-by-step explanation:
The emotional value of a good, service, or experience offered by a brand is based on the perceived value acquired from the association with one or more specific social groups. This is because emotional value is often derived from the way a product or service connects the consumer to a community or status they aspire to or are part of. It is the sense of belonging or prestige that comes with using a certain brand that gives it its emotional value, over and above its utilitarian performance.
Utility is a related concept, which refers to the satisfaction or usefulness that goods and services provide. The law of diminishing marginal utility describes the decrease in satisfaction that a person experiences upon consuming additional units of the same good. For example, the first slice of pizza usually offers more utility and satisfaction than the sixth slice