The report provides a comprehensive brand audit of Amazon Alexa, the latest innovation of Amazon, and its brand elements, attributes, and portfolio. It analyzes the marketing mix, customer knowledge, and sources and threats to the brand equity, and provides recommendations for sustainability in its business model.
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Running Head: Brand Development & Marketing Amazon Brand Development and Marketing Group Brand Audit
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Group Brand AuditP a g e|1 Executive Summary The report here focusses on the brand analysis of Amazon, and one of its newest product offering which is Alexa. Amazon which has presence in more than 12 countries and ships products in more than 165 countries is the largest e-commerce brand. Amazon which was founded in the year 1994 as an online book seller, grow by leaps and bounds and at present the company offers millions of products to people across the globe. Despite facing stiff competition from its biggest rival, Walmart, the company has shown strong growth in all the key markets. One of the biggest reason why Amazon is considered as one of the largest brand is the trust and relationship it builds with its customers. Amazon as a brand is considered to be reliable, customer centric, trust worthy, provider of quality goods and extremely innovative in all its policies and procedures. Amazon Alexa which comes in two variant Echo and Dot is a family of voice-activated devices which acts as a personal assistant to the humans. This new age product allows people to ask question on plethora of topics such as weather, news, sports, general knowledge and many more, moreover the device can easily be connected to other home automation devices and also has the capacity to order products from Amazon. The report here conveys a comprehensive brand audit of Amazon and analyse the brand in reference to its relevant product related attributes, brand portfolio, analysis of applicable brand elements, evaluation of the marketing mix, and evaluation of customer knowledge, the sources and threat to the brand equity along with a set of recommendation for the brand. The brand audit of Amazon suggests that the company has strong value in the marketplace based on different brand aspects which contributes towards the success of Amazon.
Group Brand AuditP a g e|2 Introduction The brand audit report aims to provide an analysis of the Amazon Brand by examining all the relevant brand facets. The report will focus on Amazon and its newest product offering, Amazon Alexa. In order to successfully analyse the Amazon Brand, the report will begin with the areas of Amazon background, product related attributes, Brand portfolio and brand elements. Next will be the evaluation of key areas such as Marketing Mix, customer knowledge and the sources and threats to the brand equity, followed by a set of recommendation for Amazon brand to ensure sustainability in its business model. Brand Inventory Brand Background Amazon brand is an inspiration to millions of entrepreneurs across the globe, it was Amazon which revolutionized the e-commerce sector and plethora of players emerged after the success of the company. Amazon which started its journey as on online book seller in the year 1994, at present has the largest offering of products on its website. CEO and Founder of Amazon, Jeff Bezos vision is to
Group Brand AuditP a g e|3 sell anything to everything which a customer might search online. The company in the year 2016 earned revenue of US $ 135 Billion and ships products in over 165 countries. The online e-commerce player has bet its rivals Microsoft, Yahoo and even Google in its cloud business, Amazonβs Alexa is a brainchild of Amazon web services which is its cloud platform. Jeff Bezos ensures that all the policies, procedures and culture at Amazon are driven around customers, which is the reason that Amazon is the largest customer-centric company on the planet. Amazon is well known for its leading innovation such as Fire stick, Echo, Dot, Kindle and other such products which it created to push the spectrum of product for its millions of customers, with the
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Group Brand AuditP a g e|4 purpose of making their lives easier. Amazon marketing strategy is a well thought combination of both the traditional media and contemporary marketing tools, however, mostly its focus is on digital advertising. Brand Attributes Brand attribute is also referred to as core values of the brand and it represents the essence of the brand. It can be understood as a set of characteristic which identify the physical, character and personality traits of the brand, and these brand attributes helps to identify the brand. The brand attributes of Amazon are: Innovative As mentioned earlier, Amazon is considered as one of the most innovative company the world has ever witnessed. Its offering such as Amazon Alexa, Echo, Dot, Amazon Go store, Kindle, Fire stick, Amazon drone, Amazon Prime are some of the examples of the companyβs innovation. Customers all over the world see Amazon as the provider of innovative solution which never fails to give a heightened experience to its customers. Amazon innovation is not only reflected in its product
Group Brand AuditP a g e|5 designing and creation, but it is also reflected in the polices and procedure which are always directed towards the customers. Customer Friendly Jeff Bezos vision for Amazon is to create policies which are highly customer centric in nature; this is one of the strongest brand attribute of Amazon. Millions of customers across the globe find Amazon to be customer friendly due to its easy refund policy, guaranteed 1 day delivery, quality check of products and wide range of product offering. Customer success team at Amazon ensures that it addresses all the grievances and concerns of the customers and builds a friendly relationship with them. Amazon excels at its social listening and its sentimental score on Social media is always positive, which reflects its customer friendly brand attribute.
Group Brand AuditP a g e|6 Global Amazon is a truly global brand, the company which is present in more than 12 countries and ships products in more than 165 countries, consistently works towards providing products catering to the domestic demand. Despite being global in nature, the company works on a strategy, which is referred to as GLOCAL, Go Global and Think local. GLOCAL strategy is seen as one of the brand attribute of Amazon, which makes the company truly global, despite the fact that it tweaks it product offering to better suit the demand of the countries. Trustworthy
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Group Brand AuditP a g e|7 Trust is gained by the brand when it consistently meets customer expectation over and over. Trustworthy as a brand attribute of Amazon is reflected in its guaranteed delivery of product in a day for its prime customers, competitive pricing, great quality products, customized deals and offers and machine learning algorithm which it uses to improve the customer experience on its platform. High level of trust of its customers is one of the strong reasons behind the growth of the brand. Brand Portfolio Brand portfolio can be seen as an umbrella under which all the brands of a particular company functions in order to serve the needs of different market segments. In other words, brand portfolio encompasses all the brands which are offered by a firm with a view of selling. Amazon has been building a large number of private brands in categories like Lifestyle, accessories, fashion, consumer electronics and furnishing which deliver value to the customers. However, within the purview of the report, Amazon Kindle, Amazon Alexa and Amazon Prime video will be discussed.
Group Brand AuditP a g e|8 Amazon Kindle Amazon kindle is a series of device which is designed and marketed by Amazon, the smart device allows users to buy, browse, download and read content such as e-books, newspapers, magazines and other media which is enabled by networking connected through the Kindle store. Amazon Kindle is a great innovation by Amazon which helped the company to gain a huge audience which was interested in reading. At present, Amazon Kindle comes in four major versions which are differentiated on the basis of their appearance and the input method. Kindle, Kindle touch, Kindle Fire and Kindle DX are the different variant of Kindle available in the market. Kindle has a free library of almost 11,500 books which are easily accessible to its readers.
Group Brand AuditP a g e|9 Amazon Prime Video Amazon Prime video is an internet video on demand service which was launched for the first time in the year 2006, that is 12 years after the launch of Amazon. Jeff Bezos had a vision for future, he knew that Internet has a lot of potential and it would soon become available in every house. Keeping this view in mind, and the penetration of the home entertainment by players like Netflix and Blockbuster, the company launched its Prime video services to its customers. The Prime video platform creates original content, distributes content and collaborates with various content creators and produces documentaries, short films and series with them. Amazon prime video is hugely popular amongst the millennials audience and the family audience.
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Group Brand AuditP a g e|10 Amazon Alexa Amazon Alexa is the latest innovation of Amazon which was released in the year 2014, it is a virtual assistant which is developed by Amazon and found use in Amazon Echo Dot smart speakers. Amazon Alexa which is a smart voice assistant lets users play music, control music, control smart appliances in the home, make calls, book appointment, news, weather and many more. The device has been received great reviews from technical enthusiasts and experts who find the product exceptionally advanced. Alexa sits quietly in one place and with the help of microphones listens to all the conversation of its customer, this information is then stored on the cloud and helps in improving the experience of the customers. Brand Elements Brand elements by and large helps the customers to identify with the brand, and the brand elements effectively communicates with its customers and differentiates itself from its competitors. Brand elements have the ability to form strong and favourable brand association in the mind of the consumers. Every brand has its own Brand elements, in case of Amazon the brand elements are its Brand name, its logo and its Packaging design.
Group Brand AuditP a g e|11 Brand Name A brand name is arguably one of the key brand elements while developing the brand. The brand name has to be created in such a manner that the audience finds a logical connection with the brand; more so, the brand name should justify the business operation, scale and the purpose of the organization. Not many people know that Amazon was initially incorporated under the name of βCadabraβ, however, Jeff Bezos changed the name when people confused it with Cadaver. The brand name Amazon was kept behind the river Amazon, which also justifies its scale of operation, moreover in back in the day, the websites used to be alphabetical. Brand Logo
Group Brand AuditP a g e|12 Brand logo is another key brand element for the business organization and helps to build a strong connect with the audience and also creates top of the mind recall. The initial logo of Amazon was an abstract river design; however after some more designs in the year 2000 the logo was changed. The Present logo of Amazon which is the smile and arrow says that the company is happy to delivery anything, anywhere. The logo of smile begins with βaβ and ends on a dimple with βzβ, also A-Z reflects that the company sells anything to everything on its platform. Packaging Packaging is considered to be an important brand element as it makes the customer notice the brand which has a significant role to play in the marketplace. Amazon is obsesses over providing great customer experience, the company listens to its customers and identify news and innovative ways to reduce the waste, bring improvement in manufacturer packaging on items the company sells and adds innovation in its packaging programme at its fulfilment centres which is based on its Frustration Free Packaging Program. At present Amazon is working on creating 100% recyclable packaging material as its initiative towards cleaner environment.