Marketing, the only business course that I thought was unnecessary and irrelevant. I thought marketing should be an arts course just because it’s easy and basic common sense. Advertising and sales are the only two things that came to my mind when I thought about marketing and I thought only creative people can do this, so why is it a business course? After taking commerce 296:intro to Marketing, my perception about marketing changed completely and now I believe that marketing is the most important field in the business world. Thanks to Prof. Rui and the marketing assignments that were an eye opener for me.

My team and I chose ‘TELUS’ for our marketing assignments. Assignment 3 was one of the most stressful assignments this semester; it occupied most of my time. It was the most challenging one because I have never worked on a video before and the process for making the video was very long and stressful. It was a long procedure but a very interesting one through which I learned a lot of new things that I know would help me a lot in my business career. I was lucky with my team because everybody was hardworking, which made this roller coaster ride a little bit smoother. I learned how to create videos, edit them and compile all the information in a way that shows its value to the viewer in the most organized way. I polished my skills on how to analyze a company and its marketing strategy, how to work in a team so that our skills are used in the best possible way. To wrap it up, I thoroughly enjoyed assignment 3 and learned a lot from it.

Introduction to marketing has made me realise how much i like and enjoy marketing. I was a typical business student who comes to business school to study accounting and finance because that is what business is all about. But this course changed my thought process and I might consider marketing as my major.

Louis Vuitton has been in the fashion industry for a very long time. It was known for its good quality and unique fashion sense. But as companies become more established they tend to increase their prices. The same is with Louis Vuitton now, it has become a long established brand and its products are priced insanely high although they’re designs are no longer very desirable. Louis Vuitton has become more of a status symbol. They’re marketing strategy has changed over time. Now their target is the rich society making it more of a status symbol than a company for general fashion conscious people of the society. The price they have for their products is only affordable by the rich class of the society. Someone wearing any product from Louis Vuitton is automatically considered rich. Rich people buy Louis Vuitton just to show off their wealth and to prove that they are rich because they can afford LV. Now the company has started producing products with huge logos on them and those are the ones that are sold the most because the LV logo is more visible which makes it easier to show off.

Many high-class brands such as Versace, Gucci, Armani etc. are all following the same marketing strategy but Louis Vuitton has extra ordinarily high prices as compared to its competitors and that’s the soul reason why it is high in demand. The bag in the picture above is worth $ 3550 which is definitely not how much it cost Louis Vuitton to make it. The 90% price of the bag is because of the brand name LV. This is a very successful marketing strategy because they have managed to increase their demands and make very high profits by charging a very high price as compared to the actual cost of the bag. There is class difference in the society already and Louis Vuitton is using that to its advantage.