MARKETING MANAGEMENT 8
Howdoes an exclusive brand such as Louis Vuitton grow and stay freshwhile retaining its cachet?
Itis evident from the reading that Louis Vuitton brand is characterizedby prestige and class. As it is common knowledge, prestige andquality will definitely attract high prices, which are common withthis brand. This being the case, it is clear that the growth of sucha brand may face numerous challenges. While numerous people may wantto associate themselves with the brand, they might not be willing topay the price for the products. As a consequence, such people may optfor alternative products at cheaper prices, which might becounterfeits. The Louis Vuitton must therefore fight and deal withcounterfeits in order to remain fresh in the market (Kotler, P. &Keller, 2011). It is clear that the brand has taken the step of hasdesignated outlets, which it has authenticated to sell its products.This is a step in the right direction to ensure that the brand’sproducts remain relevant and fresh. This will ensure that theexclusive brand grows and retains its prestige.
Thebrand must not look down upon the role played by advertising of theirproducts. It is evident from the reading that the company has onlystarted television commercials of its exclusive quality products. Inorder for the exclusive brand to grow, it must reach as manyconsumers as possible therefore advertising should be enhanced bythe brand (Kotler, P. & Keller, 2011). Lastly, the brand mustalso adopt modern technology in its production methods. This will notonly fasten the process, but it will lower production cost.
Isthe counterfeiting of Louis Vuitton always a negative? Are there anycircumstances where it can be seen as having positive consequences?
Ifa product has a counterfeit, the general assumption is that theproduct is of a desirable quality. Whereas there are numerousnegative effects of counterfeit products such as loss of revenue anddilution of a prestigious brand image such the one of Louis Vuitton.Being a big victim of counterfeit, the vice has given Louis Vuittonbrand the challenge to produce even higher quality products, whichcannot be counterfeited. In other words, whereas counterfeiting maybe seen as only negative, it might help the company improve on itsproduction methods in order to make it harder for its products to becounterfeited (Chaudhry & Zimmerman, 2010). Counterfeiting mayalso help in marketing of a product. In the case of Louis Vuittonbrand, the counterfeit goods may be sold in a market where the brandhas not been before such the upcoming markets of China and India. Asa consequence, the brand will have an easier time marketing theproducts in such places.
Itis also vital to point out that counterfeiting only sends one messageto the consumers that the product is high quality and prestigious.As a result, this may help the Louis Vuitton brand in marketing andwinning numerous customers who value prestige. Counterfeit productshave been said to fasten the fashion cycle and create awareness ofthe product in question. In the case of Louis Vuitton brand, thecounterfeit products will help create awareness to the public aboutthe brand’s products (Chaudhry & Zimmerman, 2010). In addition,the presence of the brand’s counterfeits will also fasten thefashion cycle in that new fashion products will be produced. Lastly,the brand need not worry about the customers buying the counterfeitproducts, since they might not afford the original products in anycase.
Howdoes the Ritz-Carlton match up to competitive hotels? What are thekey differences?
Itis clear from the reading that the Ritz-Carlton Hotel boasts of itsprestigious and quality services. The hotel has ensured that itoffers the best services to its clients in the over 70 hotels acrossthe world. The hotel has matched up to the extremely competitivefield through its exceptional services. The hotel has adopted astrategy for training its employees on customer service, which hasseen its growth and success to its current level (Verma, 2009). It isevident from the reading that the hotel also has impeccablefacilities, which are coupled with the excellent services offered tocreate memories for the customers.
Inorder to compete effectively with other competitors in the field, thehotel has ensured that all the managers in its outlets carry a tagwith the service values for the hotel. This is vital creatingconfidence to the customers that the services they will receive areof high quality and are done by professionals. In addition, in aneffort to satisfy its customers, the hotel goes out of its way toenhance customer service and create satisfaction. For instance, it ismentioned in the case of a “wow story” where the management hadto import a type of an egg for a client’s child. This is a clearindication of how the hotel takes customer needs seriously. TheGallup interviews with customers is also vital in ensuring that thecustomers were satisfied or if there is an area they may need to beimproved.
Discussthe importance of the “wow stories” in customer service for aluxury hotel like the Ritz-Carlton?
The“wow stories” are a clear indication of the commitment of thehotel to offer quality services and meet customer needs. A customerwho receives such a treat in the hotel will always be willing to comeback to the hotel. The publication of such stories creates a criticaltool in marketing for the hotel involved (Humphrey, 2011). Potentialclients who read such stories will be interested to visit the hotelwith a view of the quality services offered and the will to meetcustomer needs. The culture of the Five Star Hotel is to creating agood relationship with its guests so that they cannot think of analternative place to stay. The “wow stories” create an emotionalrelationship between the staff and the guests, hence creatingmemories that ensure that the guest comes back again and again.
The“wow stories” are critical in customer service, since theydescribe events in the hotel where the staff went outside what wasexpected to satisfy the customer. For instance, ordering an egg froma different country for a client. It is also vital to point out thatthe “wow stories” are vital in creating morale amongst theemployees (Humphrey, 2011). It is evident that the stories areassociated with individual employees and this creates morale for theparticular employee. This is vital for customer service since itencourages the employee and other staff to work even harder in theirdelivery of services.
Whyhas amazon.com succeeded online when so many other companies havefailed?
Thesuccess of amazon.com can be attributed to its adoption and use ofmodern technology in its operations. It is clear that the company hasa keen interest in any technological development that may be usefulto its business. In addition, the company has entered into agreementswith numerous affiliates, who are vital in the sale and marketing ofits products (Dressler, 2009). It is also clear that the company doesnot only deal with books, which was the initial products, but hasdiversified to numerous other products such as DVDs, Mp3, videos,electronics, toys, computer software and even food. This increasedthe company’s customer base hence contributing to its currentsuccess. It is also vital to point out that the company has numerousoffers for its clients such free shipping or shipping at subsidizedcosts (Dressler, 2009). The free shipping is coupled with reducedproduct prices, which creates customer satisfaction and loyalty.
Willthe Kindle revolutionize the book industry? Why or why not?
Thesuccess that the amazon.com kindle has had in the recent past is aclear indication that it will revolutionize the book industry. It isevident from the reading that the gadget allows fast access to booksand has a storage capacity of over a thousand books. This is perfectgadget for readers wherever they go since it fit into the pocket(Scally, 2012). It is also interesting to note that the gadget fitsperfectly into the pocket and be carried anywhere. It is also clearthat the gadget will revolutionize the book industry in that thegadget is Wi-Fi enabled and has battery storage capacity of up to 30days (Scally, 2012). Other companies dealing with the e-sale of booksand magazines or newspapers must adopt this gadget since it is theeasiest and most convenient way of reading and accessing onlinematerials.
What’’next for amazon.com? Is cloud computing the right direction for thecompany? Where else can it go?
Thecompany can be said to ascribe to old adage that says that the sky isthe limit. The company has a storage capacity of over a hundredthousand books online. However, the company must now turn to cloudcomputing which is an easier, cheaper and convenient tool for storageof data (Sitaram & Manjunath, 2011). It is evident that thecompany has a significant interest in new technology and cloudcomputing is definitely one of them. It is also clear that thecompany is expanding and diversifying into new products, whichrequire a virtual form of storage. This gives amazon.com a vitalreason to adopt cloud computing. The future for amazon.com is brightand it can only succeed more.
Kotler,P. & Keller, K. (2011). MarketingManagement 14th Edition.London: Prentice Hall.
Dressler,S. (2009). Strategy,organization and performance management.Boca Raton (Fla.: Universal Publishers.
Scally,R. (2012). JeffBezos: Founder of Amazon and the Kindle. Greensboro,N.C: Morgan Reynolds Pub.
Sitaram,D., & Manjunath, G. (2011). MovingTo The Cloud: Developing Apps in the New World of Cloud Computing.Burlington: Elsevier Science.
Chaudhry,P., & Zimmerman, A. S. (2010). Theeconomics of counterfeit trade: Governments, consumers, pirates, andintellectual property rights.Berlin: Springer.
Verma,H. V. (2009). Brandmanagement: Text and cases.New Delhi: Excel Books.
Humphrey,D. (2011). Customerservice.Mason, OH: South-Western Pub.