Marketing And Management Amazon Company

Running head: MARKETING AND MANAGEMENT
MARKETING AND MANAGEMENT
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MARKETING AND MANAGEMENT
1. Attributes and Benefits of chosen product
“Amazon Alexa”, is a virtual assistant AI technologically oriented smart speakers. It was
developed by the “Amazon Company” was inaugurated in “November 6, 2014”, and was
initially incorporated in “Amazon Echo smart speakers” and is developed by “Amazon
Lab126”. The product has acquired worldwide popularity and is capable of various activities,
like interaction through voice, playing music and podcasts, creating memorandum
(alexa.amazon.com, 2020). The product has the utmost capability in controlling several other
smart devices by enabling smart home automation system. According to statistics, there has
been increased sales of 100 million Alexa enabled devices.
2. Benefits of core, actual and augmented products.
The interactional interfaces, which can be operated by voice or text messages, can provide
users with proficient user experience. The easy usage of the application has contributed to the
popularity of the product. The Amazon Alexa is considered an augmented product but is now
popular as an actual product, as it is a nonphysical part of an existing product. The core
product satisfies the basic need of a customer, and is on process and represented as a
prototype. The actual product is the tangible product available to customers.
3. New Product Development Process
Every company, while launching product crosses following “new product development”
processes. The eight important steps in developing a new product is “Generation of ideas,
Screening of idea, Development of concept and Testing, Marketing strategy development,
Analysis of business, Development of product, Test marketing, commercialization of the
product” (Relich & Pawlewski, 2018). The first step is the incorporation of the idea, which
includes new innovative ideas in an actually existing product or in generating new product,
which leads to filtering of ideas and choosing the best option that will develop a quality
product. Concept development is analyzing the product components according to that testing
is done so that it matches with consumer demands.
4. Product Life Cycle