Marketing Techniques of Amazon : Report

Added on - 21 Jul 2020

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Introduction toMarketing
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Use of marketing technique to market product.....................................................................1P2 Limitations & constraints of marketing.................................................................................5P3 Use of market research in developing market plan................................................................6P4 Market planning for JD sport.................................................................................................7P5 Reasons to target customers..................................................................................................8P6 Development of coherent marketing mix for new product or service...................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing refers to the set of activities, processes and institutions for developing,communicating, delivering & exchange offerings that have some value for consumers, partners,society and clients. Marketing includes four elements, that is, product, price, promotion, place.Product refers to physical goods or service, place is the area where goods are purchased, price isa amount that customers willing to pay for product and promotion includes communication toolsthat are used by company in order to convey message to customers in effective manner(Armstrong and et. al., 2011). Marketing consist of inbound as well as outbound activities.Inbound acts emphasise on identifying needs and demands of potential customers whereasoutbound activities consist of all aspects of communicating customers that product is available.In the present assignment, given company is Amazon which is an American cloud computing &electronic commerce firm located in Washington, US.TASK 1P1 Use of marketing technique to market productAnsoff matrix administers 4 growth strategies. These are used by the company in order toincrease their market share & find rapid growth. These strategies are as follows:Market penetration: It is a strategy related with selling more to existing customer base of brand.The company entered into market as book seller & now become a largest retailer(Atwal andWilliams, 2017). Firm set its foothold as known bookseller in market and it later introducedvarious other goods too which can bought online. In this way, Amazon grow its presence inmarket. Today, millions of products the company sells & this product line constantly grow withentry of more suppliers in its system.Market development:It means selling the similar goods or services in new market and to new consumers.Amazon had launched by Jeff Bezos out of his garage. Now, it has grown into internationalcompany. Some nations like, North America, United Kingdom and Germany are mainstrongholds of firm. Its presence is continued to grow globally. The company sharply increasedits existence in Asian countries in recent years by spending more on advertising & marketing.Product development:In order to increase its market presence, Amazon emphasized on product development.Fire phone is also introduced by company apart from kindle(Babin and Zikmund, 2015).1
However, kindle was very popular but fire could not be successful. Firm used productdevelopment in this way to grow their market share.Diversification:Initiating from book seller, the firm has grown now into a brand which offers diverserange of products and services(Bhattacharya, 2010). It competes today with Google, Apple andNetflix. Amazon is not only a online retailer but it administer streaming videos and web services.Their web services is a cloud platform which renders 90 services or more and is constantlyintroducing new functionality and features. In this way, firm continued to diversify in new fieldsin order to grow its market share and brand.Survival strategies:Survival strategies are rational or logical pattern that is implemented to overcomechallenges in order to gain sustainability in existing business surroundings. Amazon use survivalstrategies for maintaining its position in market. These assists the company in-Managing expectations of stakeholders and in balancing their conflicts.It assist in eliminating potential challenges that obstruct the achievement of success.Supports in comparing the company with best level therefore, show the need to enhanceperformance in order to stay above competition(Chaffey, Smith and Smith, 2013).These strategies makes SWOT crystal; assist in overcoming weaknesses by using strengths,shows opportunities that are available in surroundings of business so as to use them. Survivalstrategies use by Amazon are:Price:Amazon frequently change their prices. During holiday seasons, the companyimpose offers on products which attracts customers more to purchase product from Amazon.Stay updated on competition:As there are many competitors of Amazon in market, thefirm always stay updated about the pricing of their competitor's products. When competitorsdrop prices on products, Amazon also set their product prices on that basis. AInnovation: It is the major reason behind success of firm. The company bringsinnovation on regular basis in the form of new products and services. Kindle and fire phone arethe good example of successful innovation of Amazon.Brand awarenessBrand awareness is defines as an extent to which consumers are able to recognize abrand. It is a degree to which customer associate brand with particular product. It involves brand2
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