importance of marketing

Marketing is an important part of any industry and without it, customers will be unaware of the company’s presence. Companies can use a variety of marketing techniques. Customer value proposition or the experience consumers have after using a product or service, is one of the planning techniques that advertisers must remember. When a customer is happy, they stay faithful to the brand regardless of what happens. As a result, it is critical for any company to provide its consumers with what they need when they need it. Customer preferences change from time to time, and it is essential for firms to research to provide customers with the best experience. A company that wants to succeed must ensure that they have an effective customer value proposition. A company that has repeat buyers will be in business for a long time.

The American Marketing Association (AMA) defines marketing as the activity, set of instructions, and processes for communicating, creating, delivering and even exchanging of the offerings which provide value for clients, customers, partners and even the society as a whole. The company has to put the word out there about its services. It is the only way people get to know about the business.

According to Hudadoff (2009), customer value proposition refers to the description of the kind of experience that users get after purchasing and using a product or a service. Customer value propositions are the benefits the company has to deliver to its clients. It is an aspect which can prove beneficial to the organization when used correctly.

There is no doubt that marketing and advertising are similar in many ways, but the two also have certain differences. Advertising is like a piece of pie in marketing. The two go hand-in-hand, and one cannot be complete without another. The first difference is the definition of the two. Marketing is defined as the activity and process of creating and delivering the offerings that give customers value. Advertising, on the other hand, is defined as a paid, non-personal and public communication about goods, idea, place, people, and even organization using direct mail, print, radio, the Internet, and television. Advertising influences buying behavior by promoting the company’s products or services. It means that an organization must come up with an advertising campaign that will convince the customer without any doubt to buy the product andshould be very persuasive. Secondly, advertising does not require any contact. All the company has to do is just come up with a way to put the message out to the people. Marketing, on the other hand, requires that the marketer gets in contact with the customer (Brown, N.D). The company can give its customers gifts or discounts to entice them. Furthermore, marketing gives the overall picture of the way a company distributes the goods and services, while advertising is simply a component of the picture.

Another difference is the time spent. Creating a marketing plan can be quite time intensive compared to coming up with an advertising campaign because marketing has numerous disciplines such as marketing research, market analysis, segmentation and even positioning. Advertising does not require all those strategies. Moreover, advertising is used to support the marketing plan (Bose, 2016). Therefore, marketing gives the broader picture of what the organization is about and advertising adds to what the client knows about the company. Both have to give the same picture about the company.

Louis Vuitton is a well-known company that deals in the sale of handbags, perfumes, watches, shoes, jewelry, and even books. It is a valuable luxury brand. Louis Vuitton provides its customers with quality products. Moreover, the firm protects its heritage. Louis Vuitton has built its reputation over the years. The firm is well-known for providing products that are of outstanding quality. They offer their products from years of experience, while their value proposition shows a level of craftsmanship that they put into making the handbags. All the goods are made by experienced people who are knowledgeable in the area. Therefore, their customer value proposition is that their products offer class, sturdiness, and beauty. Louis Vuitton offers their clients timeless and modern products. There is no doubt that Louis Vuitton has made a name in the luxury industry. It is definitely a brand that customers can associate with on a daily basis. As such, it is important to maintain the brand that the firm has created over the years.

As a student who specialized in marketing, I have all the knowledge needed to provide effective marketing solutions. I will provide for innovative marketing without limits, and deliver accordingly. In addition to that, I will use both traditional and social marketing to attract customers. Moreover, I will use creative marketing solutions as well as provide solutions that are in line with the organization’s strategy, mission, and products. Given that Louis Vuitton is a popular company, it is necessary to keep up with the customers. Therefore, I will use social media marketing to help keep and increase the client base. In addition to that, I will look for creative ways to market the product.

Relationship marketing strongly depends on customer loyalty. For instance, in case a customer returns a product for any reason, it will be good to get back to the customer and get to the bottom of it. Building a relationship with the customer will help in maintaining such a client. There are many reasons customers may return a product, and once the problem is sorted out, the customer will remain loyal. Therefore, I will take advantage of this fact to ensure that the organization always has loyal customers.

In conclusion, the importance of marketing cannot be stressed out enough. Additionally, customer value proposition is necessary for any business. Marketers have to ensure that they make proper use of the customer value proposition to win more customers. There is nothing as good as having repeat clients who will bring their friends along. Developing a relationship with the client is necessary for any company that is after long term success. No business is complete without the customers, which means that proper customer value proposition is needed to keep the customer interested in the product for a long time. Once a customer is satisfied with the service, everything else will fall into place.

References

Bose, S. (2016). The difference between marketing and advertising. Small business trends. Retrieved from: https://smallbiztrends.com/2016/03/difference-between-marketing-and-advertising.html

Brown, T. and Dacin, P.(1997). The company and the product: corporate associations and consumer product responses. Journal of Marketing, 61(1).

Hudadoff, P. (2009). The customer value proposition: Differentiation through the eyes of your customer. Available at http://www.engr.colostate.edu/~marchese/stese/reading2.pdf