If I offered to sell you my 2021 Harley-Davidson Road Glide at market price but you had no interest in owning a motorcycle, you wouldn’t buy it. But if I offered to sell it for $1000, you would jump at the opportunity even if you had to call your friends, uncle, or neighbor to borrow the money. As a consumer, value trumps price, but both are subject to desire. The real question in every industry isn’t how much it costs but what’s it worth to the buyer.
In the fast-food industry, you know what to expect and have sub-consciously pre-approved the price beforehand. But what about an $80 steak at a fine restaurant? Although fast-food and steak will mitigate hunger, the steak can provide a date night experience, excellent hospitality, exciting flavors, and ambiance. Value recognition for something begins to take shape when matched with the desire for what it can deliver.
Value recognition becomes increasingly complicated as the complexity of the product increases. Because we regularly purchase fast-food, value recognition is simple, and most people are experts on the nuances of price. This is not the case with motorcycle painting, as it is more like the $80 steak at a fine restaurant. Many first-time buyers of a custom paint job, a repair, or a service part have no genuine concept of price, yet we see responses to our prices that range from relief to shock. These reactions have less to do with the price and more with the customer’s familiarity with professional refinish paintwork and their desire for the product.
"Paint is beautiful, colors are pleasing, graphic design is stimulating, and the experience of buying these things should be enjoyable."
The fact is, in America, paint jobs are expensive, especially when done at a professional level in a clean facility that meets OSHA and EPA regulations. When you give us one of these paint projects, you are paying for skilled American labor; work only fit for a specialist who has a lifelong commitment to the craft. You are also paying for maintained, world-class equipment, proprietary process, experience, and the finest paint materials on the market. These things will ensure that your investment will last for many years.
Value recognition, which is often an emotional experience, is also determined by trust. Whether I am buying a burger or a car, how much I trust the brand to give me what I expect will determine how much value I put on the product. Therefore, companies work hard to build trust with their customers. We are no different at CPV, especially because our customers are typically motorcycle enthusiasts. The emotional investment already exists, so we just need to come through with doing what we say we will do. Our website, social media, and even this article are all meant to build trust and expose the value of the product we sell.
Paint is beautiful, colors are pleasing, graphic design is stimulating, and the experience of buying these things should be enjoyable. With that, there is great value, but not necessarily low prices. We are so thankful for our customers who find value in what we do!
Authored By: Steve Wright
