Meaning and Value

Meaning is everything. If you took away meaning from an object or an action, it would become worthless. People do things because there is meaning to them. And often to others as well. In an earlier article, we saw the importance of words and meaning. As the density of meaning increases, the value also does. A bar of gold has a plethora of meaning to different people, because of its potential to fulfil so many promises. 

Meaning drives our actions. If a toothpaste did not deliver on its function, that brand would cease to have any meaning. All actions are driven by meaning. And all meaning has value.

Nobert D’sousa (name changed) is 89. His wife died 3 years ago. His kids are in the USA. He was placed in a retirement home so he would be well looked after.... He is. So he has nothing to do but ‘wait for the bus’ as he puts it metaphorically. As he can sense the closeness of the end he sees no meaning in his existence anymore. He stares into the distance for hours, sometimes arguing with himself. Gesticulating to make a point. If by some miracle, he was given an important job which made an impact, his life would take on a new meaning.

But let’s look at how this concept affects new product concepts or services. Meet Nicolas Woodman the inventor of the GoPro action camera. His business is currently worth USD 1.2 billion. He gave new meaning to a consumer camera by changing the consumer expectations of what a digital camera does. It can go underwater to a depth of 40 meters and is light enough to get airborne on a drone. It is not even a camera anymore. He re-defined the meaning of a product and by that, affected its value dramatically.

What is the meaning of the word restaurant? An eating place where you sit down at a table, order from a menu. The food is cooked and served. You pay at the end of the meal. It takes time. So, is a fast food outlet a restaurant? You pay first, the food is almost ready. It is super-fast and you can even order it as you drive through. The meaning of a restaurant has changed, and the value has increased. Now, suppose you were to have an outlet where you chose your ingredients from the outlet, were provided a cooking spot, and you sat down and had a meal you had cooked. You were charged for the ingredients and the cooking facilities. What would you call this? Sometimes, all it takes is to change the meaning of a product or service to change its value. 

Cedric Serpes is Associate Professor at 

The Goa Institute of Management. 

Sometimes he  creates, original, new 

tautologies just to annoy people.