Marketing Strategy: The Secret behind the World's Top Brands

Market Strategies
Student’s Details’

Market Strategies 1
Contents
Introduction......................................................................................................................................2
Market strategies-............................................................................................................................3
Importance of market strategies...................................................................................................3
Effect market strategies on consumers behavior.........................................................................4
Impact of internal factors on consumers behaviors.........................................................................4
Personal factors............................................................................................................................5
The psychology factors................................................................................................................5
Impact of external factors on consumers behaviors........................................................................6
Culture.........................................................................................................................................6
Social class...................................................................................................................................6
Family..........................................................................................................................................7
Reference group...........................................................................................................................7
Consumers decision making process in Amazon............................................................................8
Decision-making theory ‘Utility Theory’....................................................................................8
Need identification...................................................................................................................8
Information search...................................................................................................................9
Evaluation of Alternatives.......................................................................................................9
Purchase decision.....................................................................................................................9
Post Purchase Behaviour.......................................................................................................10
Importance of digital marketing....................................................................................................10
Cost-effective.............................................................................................................................10
Effective communication...........................................................................................................11
Generates better revenue............................................................................................................11
Develops more trust...................................................................................................................11
Conclusion.....................................................................................................................................12

Market Strategies 2
Introduction
To grow and be successful in competitive marking environment effective marketing strategies
are the lifeblood for an organization. Marketing strategies combined organizational plans,
organizational goals, and targets into a simple comprehensive plan of the company. Marketing
strategies help the business organization to identify their best potential customers. The marketing
strategy also helps to identify consumers' requirements and need. Good marketing strategies help
to implement effective marketing methods in the organization (Aghazadeh, 2015).
Amazon is an American multinational technology company that provides services in the E-
commerce industry, digital streaming, cloud computing, and artificial intelligence. Amazon is
one in the top five technology companies. The company is offering the world's largest online
marketplace. In terms of market capitalization and revenue generation, the company owns the
title of the largest internet company in the world (Amazon’s Website, 2020).
According to a report by Forbes, the company is one of the top ten most valuable brands
globally. To be and retained at the position of the market leader in the ecommerce industry, the
company works on four major principals that are customer focus, innovation, operational
excellence and long terms visionary thinking. The company is positively impacting customers
and the world's economy by following these principles (Stead, 2019).
This study covers various market strategies and their importance in the growth of Amazon and
the impact of these marketing strategies on consumer's behaviours. This study also focuses on
internal and external factors such as perception, motivation, references group, social classes and
their impact on consumer behaviours in Amazon. Besides, this study discusses the consumer's
decision-making process while making a purchase or consumer's buying behaviour and patterns.

Market Strategies 3
This study also gives a brief on the importance of digital marketing in today's modern era and its
effectiveness in Amazon.
Market strategies-
A marketing strategy is a set of direction and objectives to achieve long term goals of an
organization. In an organization marketing strategies develop for a certain period such as the
next few months (Waheed et al., 2017). Marketing strategies play a key role in the growth
and success of a business organization. Marketing strategies of a business organization have a
significant impact on organizational action plans, long term goals, consumer’s behaviours as well
as competitors' action plans (Grebitus & Bruhn, 2011).
The mission of the Amazon is “To be Earth’s most customer-centric company, where customers
can find and discover anything they might want to buy online, and endeavouring to offer its
customers the lowest possible prices” (Farfan, 2019).
To achieve this vision Amazon focused on four major areas, that are email marketing channel of
Amazon, focus on rating and review and implement improvements accordingly, increase
customer loyalty, and videos of success stories for direct marketing (MacDonald, 2019).
Importance of market strategies
Effective marketing of an organization considered with effective marketing plans or strategies of
the organization. A good and effective marketing strategy defines organizational vision, mission
and organizational long term goals. Marketing strategies set outlines to a business plan that a
leader needs to pursue to accomplish organizational goals (Morgan et al., 2018). Business
managers need to define and develop effective marketing strategies as they are outlined to run a
business. Thus, an effective marketing strategy describes organizational products and services,