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  • Essay / Harley-Davidson. Nordstrom-1065

    Harley-Davidson1. Customer perceived value (CPV) is essentially the consumer's assessment of the total benefits minus total costs of a product or service relative to a perceived alternative (Kotler and Keller, 2012). There are several ways a company can improve the CPV of a specific product. First, it can focus on expanding the total benefit to the customer by improving the image of its product. It can also invest in the functional features of the product and provide better and more personalized service. Second, a company may choose to reduce the time, energy, and psychological costs borne by the consumer. Perhaps one of the most popular approaches would be a monetary cost reduction (lower price) technique. Harley-Davidson (HD) has taken a number of steps to provide higher value to its customers. One of the main activities in this field is building personalized relationships with their customers face-to-face and on social media. Harley Owners Groups (HOGs) as well as riding clubs have been founded around the world, organizing several types of membership-based events, such as rides to major destinations, rallies, charity events premises, etc. Such events provide an important personal benefit. the face of socializing and connecting with other cycling enthusiasts, fostering closer bonds between them, sharing a spirit of freedom and adventure. Another important achievement in increasing customer value is thorough and diligent feedback monitoring. HD management listened to the buyer's preferences and retained the authentic qualities of the bike, keeping it a unique product in the market. Finally, the company devotes a lot of effort to training its staff, providing the best service and.... ... middle of paper ...... they buy. Nordstrom's Fashion Rewards loyalty program divides customers into four tiers based on their annual spending. Different types of complementary services and experiences are offered to customers of different levels. These services range from nice little things, like free delivery or a glass of champagne accompanied by live piano music, to more extraordinary things like personalized trips and fashion packages for big events. Nordstrom continuously tracks specific customer preferences and uses this information to further tailor its products to shoppers and personalize their shopping activities. Like many other major retailers, Nordstrom stays in touch with its customers through social media (Pinterest, Facebook, Twitter). The company creates structural ties with its customers by building a long-term relationship and offering discounts.