CUSTOMER PERCEIVED VALUE

Customer Perceived Value

[Writer's institute]

Customer Perceived Value

Question - 1

The question provides the qualities of the perfume which it gives to its customers. Christian Dior is a perfume, the perfect complement to fashion and has deliberately opted for fragrances and skincare lines under the name Dior. In addition to many successful creations, especially the men's fragrance, it has become one of the true classics of Perfume. The fragrance is one of the ten best-selling perfumes and exemplifies all of Christian Dior fragrances.

Keeping in view the qualities and attributes of the product, it will be targeted to adult females with high income levels. The main reason is the luxury of the perfume and its price. The perfume is the product which not everyone can afford. The scent is specifically designed for women. According to Woodruff (1997), customer value learning plays an important role in the process of value-delivery (p. 146). The company has to understand the value needs of the customers. It is the managers that conceptualize this understanding and guide the actions of each department accordingly. The company's such approach has helped it in successfully tackling every attempt that is made by the competition to curtail company's impact. Not even the promotion activities of other companies have any impact on the sales of the Christian Dior's product.

External strenght of the company have been discussed from the customers because, it is the huge group of customers, who understand the values of the product (Christian Dior Perfume). Christian Dior also claimed that, with the passage of time, competition was increased and, they had to adopt certain strategies in order to compete with the competitors and, won the online customers. Christian Dior had hired talented and skilled employees and, advertising was done with word of mouth and, best services offered by employees. The use of media also brought great publicity towards Christian Dior and, social networking site such as Twitter added much fame to the company's product. The major focus of the company was to win the trust of the consumers and, company had to choosy in this regard because, the first and foremost aim of any organization is to satisfy customer requirements and, if customer requirements are not satisfied then, there will be negative outcomes and, for this purpose, company has chosen certain strategies such as discount services to attract the customers. In 2003, company started to sell handbags, watches and apparel and, at the period of 1999-2008, company was the fastest growing online retailers in the world. Company had sold perfume products and, made sales of US$1 billion in 2008 which was nil in 1999 and, after launching Christian Dior Perfume, company had achieved a huge target beyong the expectations. This huge sale of 2008 showed that, customer had much trust in the Christian Dior Perfume of the company and, most of the sales were done online and, online strategies were great than other strategies.

Christian Dior initiated customer friendly services for Christian Dior Perfume and, continued to add several services ...