Increasing Sales and Profits in Amazon Canada through Creative Objectives and Strategies
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Added on 2023/06/08
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This article discusses ways in which Amazon Canada can increase sales and profits through competitor analysis, competitive pricing and products, customer feedback, and discounts and promotions.
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MARKETING PROMOTION AND MANAGEMENT Increasing sales and profits in the Amazon by creative objectives and strategies Name Professor Course Date
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MARKETING PROMOTION AND MANAGEMENT There are a number of ways in which the Amazon targeting people within Canada can gain more sales and profit by objectives and strategies. These ways are clearly explained below; Conducting competitor analysis. In our case it involves analyzing the already existing competition in the Canadian markets. This can be done in a number of ways. For instance it can be done through reading of the customers review and the Q &A section of the competitor’s page. This helps in identifying the areas that the competitor customers are complaining about and hence tailor your goods and products specifically to address these areas of complains. This will greatly help improve sales and profits (Zhu & Liu, 2016). The Amazon targeting the people from Canada can ensure high sales and profits adopting competitive pricing and competitive products. Competitive pricing involves making your own price much more competitive without affecting the profitability in any way whosever. (Getirana et al, 2017).It is even possible that one takes advantage of the intense price competition to actually decide the particular products that are worth promoting. Offering competitive products on the other hand exclusively revolves around offering of unique products that helps one remain much more competitive and this greatly boosts sales and profits (Mirzaei & Amirhosseini, 2017). It is also important that the Amazon targeting the Canadian people find the need to get feedback and reviews from customers in Canada. It is important to note that almost 90% of the customer trust and depend on online reviews. These persons should therefore be keen not to ignore the feedback and reviews from their customers. This makes them build trust and loyalty with the customers and therefore increasing their sales and profits (Getirana et al, 2017). Finally, there is the offering of discounts and rampant product promotions. Discounts tend to generate more sales which intern translates to more profits. It involves favorable price reductions and other similar related discounts depending of the product purchased. Rampant product promotion on the other hand revolves around carrying out promotion campaigns on the products offered; this can be inclusive of their usefulness, their strengths so as to attract much more customers (Chepik, 2018).
MARKETING PROMOTION AND MANAGEMENT References Zhu, F., & Liu, Q. (2016). Competing with complementors: An empirical look at Amazon. com. Getirana, A., Peters‐Lidard, C., Rodell, M., & Bates, P. D. (2017). Trade‐off between cost and accuracy in large‐scale surface water dynamic modeling.Water Resources Research,53(6), 4942-4955. Chepik, V. N. (2018). Great Miscalculation of David Cameron. Mirzaei, M., & Amirhosseini, M. (2017). Analysis of information sharing model in the traditional market and its comparison with a proposed model of developing information and knowledge sharing in e-commerce in the agricultural sector of Iran.