Customer value

Consumers seek satisfaction from a brand's products or services through obtaining solutions to their needs and wants. In the case of luxury consumers, these might include emotional and psychological needs. When a luxury fashion consumer purchases a new timepiece from Rolex, the overall pleasure he obtains from the product not only originates from the physical attributes of the wrist watch itself, but also emanates from a package of contentment gained through the total brand experience which the product is a part of. This is what the customer interprets as benefits and value, and the satisfaction obtained is called 'customer value'. In the offline marketing mix, its equivalent is the 'product' element. However, rather than focus solely on the product features as a source of customer satisfaction, 'customer value' emphasizes the creation of a powerful brand experience in addition to the satisfaction gained from the brand's products and services.

The creation of customer value for the online consumer can be achieved through providing the required product range and adequate tools to viewing them and also enhancing the web atmosphere. Several luxury brands wrongly offer a narrow product range in the e-store. Others provide end-of-season products or goods that no one would buy in the physical stores. For example, Herm├Ęs is best known for its highly coveted leather goods, but the brand's website neither provides a means to purchase this product range online nor information regarding its offline sales. Ideally, luxury brands ought to offer a complete product range online with a few exceptions such as limited edition products or other specially-made goods that retain the brand's aura.

Was this article helpful?

0 0
Farout Fashion

Farout Fashion

Get All The Support And Guidance You Need To Be A Success At Far out Fashion. This Book Is One Of The Most Valuable Resources In The World When It Comes To A Look at the Latest Craziest Fashion Fads.

Get My Free Ebook

Post a comment