Jun 23, 2020  •  

How To Create Perceived Value

by paramountleads

How do you separate your service or product in a competitive industry?

When it comes to a segmented market, products and services generally advertise for similar results. It’s common for customers to compare value depending on their personal needs. Customers with more buying power will consider products with extra features and enhancements. Although any standard watch can tell you time, a Rolex will attract people looking for a luxury experience. What is the primary purpose of your service or product, and how can you make your customer feel satisfied with a purchase?

Are you fulfilling the role of function, or are you selling additional benefits?

Chevrolet’s “UnBadged” campaign creates a perceived value for low-price car buyers by giving them a refined experience. Their ads feature an unbranded Malibu and reactions from real people comparing the vehicle to luxury brands. Although the commercial features luxury characteristics, the Chevrolet brand represents affordability. The Chevrolet brand targets consumers that are looking for quality vehicles at reasonable price.

Glendora Chevrolet states that “Part of what makes Chevy a top brand to purchase is its prices. Chevy offers all of its vehicles at very competitive pricing. There are a number of different price ranges so consumers can find a vehicle that is within their budget.”

The added features are just a plus and increase the value of what most people consider low-budget. In addition to reaching their primary audience, this campaign positions the vehicle in new markets with their product’s added luxury style features.

That is the power of reframing.

Transparency is essential when it comes to creating an honest buying experience with perceived value. Honesty is the component to accessing your customers’ emotional needs. Not only do customers appreciate honesty, we live in a world of information technology. People will take notice of any false claims you make.

Emotion is the driver to perceived value.

People buy depending on how they feel. A person might choose to purchase a product logically, but emotion is what drives them to consider that purchase. If you want your clients or customers to consider purchasing, you need to figure out how to make them feel good about making a purchase. When it comes to your brand, you need to make your customers feel good after their purchase. A loyal group of customers that can testify can add social desirability to enhance perceived value.

At Paramount Lead Solutions we create solutions for our customers.

Our dedicated and enthusiastic team understands people are the heartbeat of every business. That’s why the country’s most successful auto dealers rely on our technology, personal communication skills, and understanding of current trends. Our consulting services support businesses committed to achieving growth. From our frontline staff to management team, our experience has proven direct marketing and e-commerce optimize the customer’s buying experience.