Question

Harley-Davidson motorcycle owners, who pay a price premium for their motorbikes, have formed the Harley Owners Group (HOGs), whose members take motorcycle rides and road trips together. These owners also derive satisfaction by being able to express their individuality and nonconformity through the Harley bikes that they own. Based on these factors, these owners are deriving which types of value from the Harley-Davidson brand?
A) Functional and social value
B) Economic and experiential value
C) Experiential and social value
D) Functional and economic value

Answer 1

Answer:

A) Functional and social value

Explanation:

Seeing the benefit that customers attribute to products is a marketing strategy to optimize sales and establish a brand that customers identify with. In this case, motorcyclists experience functional benefit and social benefit.

The functional benefit concerns the essential characteristics of the product, such as physical characteristics that please the consumer (eg the motorcycle scooter design). The social benefit is associated with the pleasure that the customer gets when purchasing the product. This is an individual benefit for each consumer, however, is an extrinsic advantage attributed to the product. For example, the status that the motorcycle brings to its owner.