Topic > Harley Davidson. Nordstrom - 1065

Harley-Davidson1. Customer perceived value (CPV) is essentially a consumer's evaluation of the total benefits minus the total costs of a product or service compared to a perceived alternative (Kotler & Keller, 2012). A company can adopt a few methods to improve the CPV on a specific product. First, it could focus on expanding the customer's total benefit by improving the image of its product. It can also invest in functional product features as well as provide better and more personalized service. Second, a company may choose to reduce the time, energy, and psychological costs incurred by the consumer. Probably one of the most popular approaches would be a monetary cost reduction technique (lower prices). Harley-Davidson (HD) has taken a number of steps to deliver greater value to customers. One of the main activities in this field is to establish personalized relationships with your customers via face-to-face channels and social media. Harley Owners Groups (HOGs), along with riding clubs, have been founded around the world organizing multiple types of member-based events such as major destinations, rallies, local charity events, etc. There is a significant personal benefit offered through such events in the aspect of socializing and bonding with other cycling enthusiasts, fostering closer bonds with each other, sharing a spirit of freedom and adventure. Another significant achievement in increasing customer value is accurate and diligent follow-up of feedback. HD management listened to the buyer's preferences and preserved the authentic qualities of the bicycle, keeping it a unique product on the market. Finally, the company dedicates a lot of effort to training its staff, providing the best possible service and... .... half of the paper ...... they buy. Nordstrom's Fashion Rewards loyalty program divides customers into four tiers based on their annual spending. Different types of free services and experiences are offered to customers of various levels. These services range from small, sweet things, like free shipping or a glass of champagne accompanied by live piano music, to more extraordinary things like personalized trips and fashion packages for big events. Nordstrom constantly monitors specific customer preferences and uses this information to further tailor its products to shoppers and personalize their shopping activities. Like many other large retailers, Nordstrom stays in touch with its customers through social media (Pinterest, Facebook, Twitter). The company creates structural bonds with its customers by building a long-term relationship and offering discounts.