Why is Marketing is important for businesses in 2022?

 Why is Marketing so important for businesses in 2022?

There are many organisations in the Uk, many consumers and many competitors, this is why businesses need successful marketing strategies to communicate with their target customers with the aim of informing them. What is marketing and how can it be defined? "Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return" (Kotler et al. 2020). Marketing is crucial for a successful business and an organisation can be marketed in many different ways on a number of platforms. One example is having an online platform. Many fashion brands, along with millions of others are promoted with the help of social media. One example of this is Urban Outfitters, which is a multinational company who target young men and women with the latest clothes, homewear and beauty products. Urban Outfitters have a loyalty programme called UO rewards that credits consumers points on their mobile device app, allowing them to receive discount codes for money off purchased items. Another feature of Urban Outfitters is that they offer ten percent discount on all items for students. As their target customers are of a young age and still in the education system, these discounts create value for the brand and the chances of customer loyalty increasing when established customer relationships and trust are created.

Westfield, Shepards Bush shop

Another strategy Urban Outfitters use for marketing is through the use of word of mouth and visual signage. Their purchase bags have been specifically designed to be long lasting and reusable so that there are many future occasions where the bag can be used for. This ensures that the sign is exposed for various different outings and if passed on to a friend or relative, many alternative destinations other than the consumers own personal travels. The plain black bag with bold white writing of 'URBAN OUTFITTERS' is seen daily on consumers of all ages and staff who work for the brand as they act as a multi-purpose bag due to their strength and longevity. Often, returning customers save their bags and bring them back to the store to reuse again for additional purchases. For some younger children, having the accessory of the Urban Outfitters store carrier bag and being seen holding one is a stand alone fashion statement and helps them feel connected to the brand even if they are not wearing any branded items of clothing.

These marketing techniques are not always visible for consumers and rarely taken a thought, however the marketing team for this organisation has well thought out what are the most efficient ways for brand awareness and publicity through simple, yet effective strategies of marketing to a wider crowd beyond solely their consumers.