Marketing

Marketing
Name
Institution

Marketing
Definition
Marketing is an activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings. These offerings have a great value for customers, clients, partners, and society at large (American Marketing Association, 2017).
Customer Value Proposition
A value proposition refers to the additional value a company provides to the customer. It is different for all customer segments. It shows what additional value the product delivers which makes it superior to the competitors’ product (Principles of Marketing, 2010).
Difference between Marketing Process and Advertising
The marketing process is a bigger thing while advertising is merely a small part of it. According to Kolter (2008), marketing process includes following steps:
1. Awareness about marketplace and customer’s needs and wants
2. Developing a marketing strategy best suitable for the target market
3. Structure an integrated marketing program
4. Developing beneficial customer relationship by ensuring customer satisfaction
5. Receiving value and enjoying achievement for buyers
Advertising comes under the fourth stage of the marketing process.
Goals of Creating a Strong Value Proposition
The major goal of a value proposition is to capture the attention of customers and make them understand the greater value your brand is offering which the competitor is not providing. Moreover, the target is to focus on the issue that the customer is most sensitive to or feel neglected about.

For example, for my new business of mobile phones, I would give an extra handsfree or battery, as people are sensitive for them.
Unique Relationship between Company and Customer
In the previous era, the relationship between the organization and the customers was ordinary. Customers had lesser power to bargain and change the dimension of the market offerings. Whereas, nowadays, customers are more in charge of the market decisions, circumstances, and offerings. They are in a key position to influence the companies to change their old practices. Therefore, organizations are striving to exceed in the race of providing the customers better value proposition, value, product, connection, and flexibility.
Company and the Business Idea
I would prefer to work as an entrepreneur, and I would start the business of a second-hand e-book selling store. That is because people are becoming less habitual of reading a printed book. On the other hand, they are becoming gadget freaks with every passing year. Therefore, the business idea is based on e-book selling and renting. The company will be virtual, and its most of the functions and system will be related to software rather than hardware. For this business, books will be collected form the sellers, either companies or ordinary people, on a low cost. The information will be uploaded on the website regarding its price, which will be a bit higher to earn a profit. In addition, books will also be given on rent and on installments. Special discounts will be given to the students. Besides, on the website, comparative prices will also be mentioned so that the customer gets an idea of the benefits they will have after buying from the company. Moreover, for rent, the price of the books will be lowered than the books being sold, as rental books are to target the students or the people who cannot afford costly books. Cost leadership will be the basic strategy the company will pursue. Besides, magnifying glass, anti-glare glasses, etc. will be offered time to time as an extra accessory.
Examples of the Company Using the Concepts Successfully and Ways of Improvement in It
Charity books will also be collected to integrate the concept of corporate social responsibility to the company. As nowadays, companies are focusing more on the social aspects of their operations. It also proves to be beneficial in monetary terms as well as best for the perception and image. It will enhance the brand loyalty. In addition to that, cost leadership is the strategy the company will be pursuing, which is also apparent from the business idea. As the books will be sold at much lower price than the competitors, it will create an attraction for the customers and will increase brand loyalty. Nevertheless, lower cost is likely to create a perception in customers’ minds that the quality of the books might be affected or the pages might be missing, etc. For this reason, marketing campaigns will focus on ensuring the customers that the company does not compromise on the quality of the product. A company can give customer more charge in all this buying and selling activity, through providing the same books in competitive prices. For example, the company will get a book in 10$ from a seller and the same book is bought be another seller at 12$. Both books will be given on the website, with their prices mentioned, so that the customers get the cheapest book on a first come, first get an offer. Besides, book charity portal will be given on the website so that people feel emotionally connected to the company.
Link of Personal Brand to Customer’s Value Proposition
As far as my personal brand is concerned, I would put my utmost efforts in process of organizational goal achieving. I, being a friendly and extrovert person, will develop a website where people are most linked to each other and open to connecting, reviewing, commenting, and donating. The more connection I will use, the more expansion will be possible in the book bank. Henceforth, there will be more possibilities to sell and rent the books on lowest costs. It will help the company to successfully pursue cost leadership strategy. Besides, as I am a person who prefers to work for the betterment of the society rather than earning maximum profits, so I will provide the customers magnifying class, anti-glare glasses, etc. as an extra accessory for a part in the buying, selling, renting, or charity process. The more the customers get the feeling of connectedness and purposeful, the more they will feel valued by the company. In return, they will also provide value to the company.
Ways to Integrate Customer’s Value Proposition and Use Relationship Marketing to Position Yourself the Best (With Examples)
First of all, to position itself in the market, a company needs to create an image which the customers are expecting it to have. The success of a company is hidden in the art to find out that point and work on it, to create a positive perception not only in its customers’ mind but also in every stakeholder’s mind. Therefore, it is extremely important to project the true essence and idea underlying behind the establishment of the company. As it is a part of my personality to help other and facilitate educational process around the world, I will try to give a sense of purpose to the people of the same idea and same concerns about the society. Secondly, less costly books, comparative prices, anti-glare glasses, and magnifying glasses, etc. will be ways to attract the customers and make them feel cared, which is not usual in other book selling stores or websites. Moreover, a direct link to the charity process will make the customers perceive that they are connected to a transparent organization. It will help them create a relationship with the company and help the company position better.

References
BIBLIOGRAPHY American Marketing Association. (2017). About AMA. Retrieved from American Marketing Association: https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx
Kolter, P. (2008). Principles of Marketing. Delhi: Pearson Education India.
Principles of Marketing. (2010). Libraries Publishing. Retrieved from https://open.lib.umn.edu/principlesmarketing/chapter/2-1-the-value-proposition/