Marketing Essentials - Amazon
Added on 2021-02-20
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MARKETINGESSENTIALS
INTRODUCTIONMarketing is the technique to reach to the customer and make more people aware aboutthe product and services offer by a business. This process is helpful for company in gainingattention of buyers and raising their awareness. Marketing is the most important part of businessthat assists in its growth and development.. Amazon is taken into consideration, which is one ofthe world's leading enterprise in e-commerce business. Amazon offers many products andservices all around the world. In 2018, Amazon generated around 178 billions revenues. Thecurrent study highlights responsibilities of marketing. It describes the marketing roles inorganisation. Marketing mix elements will be compared between Amazon and eBay. Marketingplan of new product will be produced so that sales of firm can be enhanced and it canaccomplish its goals.LO1P1 Role of marketing functionMarketing: Marketing is function that can be used by company to promote products.This function is mainly used to make consumers aware about the new products and goods andservices which comes in market. It is also done to communicate with the customers. Marketingincludes advertising of the products, selling the product and delivering products to the ultimatebuyers.Importance of Marketing: It is the function which is very important for every business.It supports in maintaining the relationship with customers and organisation. Marketing is theessential channel to increase the sales of the companies, it also helps the company to take properdecision for growth of the business(Abril and Rodriguez-Cánovas, 2016). It operates in almostevery sector of the business, marketing helps firm in promoting brand. They make customersaware about the goods through various modes like social media websites, radio, television,newspapers and many more.Marketing function’s responsibilities Marketing Analysis: Marketing manager analyse the market and determine its trends,needs and preferences. In marketing analysis, there is collection of information about marketconditions and all required information related to the customers. Marketing analysis is veryimportant for Amazon as from this, it will get all the information that may help in running the
firm successfully.. Market analysis can help company in determining about strategies is beenselected by competitors and also it help them in determining taste and preferences of consumers.Market Segmentation: It can be done on the bases of age, gender, preference, location incomeand many more, this is called market segmentation (Baker, and Saren, 2016). it is helpful inminimising the risks of losses. Market segmentation is also helpful for Amazon as it is in the e-commerce sector, it helps to target the products types, men's, kids, women's, entertainment,productivity, etc. Company deals in every section, so correct person can be targeted.Segmentation will help them to know the preference of the people, needs of the product,locations and many more, so according to that they can design their products. Pricing – When a monetary value is set on the product for purchase and sells in calledpricing. As business aims to enhance the sales and raise profitability. The demand and supply ofproduct plays an important role in setting the price of the product. If product’s demand is highand supply is low than it may create problem for the firm. So pricing is the key element ofbusiness as no business want to suffer losses so the price of products needs to be decided as perthe cost incurred for the production and the demand and supply chain of the product. Their willbe a fluctuation in demand and supply of the products (Bang and et.al, 2016). Amazon also usesvarious discount offer in order to attract more customers like end of season sale, festival sale, etc.Marketing is the technique to reach to mass audience and make people aware with product andservices offered by business unit (Blythe and Martin, 2019). It is important part of business forits growth and development. Effective marketing is key to success for a firm. Amazon is aleading E-commerce firm that offers products and services across the world. In the year 2018,company has generated 177.9 billion revenues. Distribution: When the product is being transferred from the producer or the seller to theultimate consumer this process is called as distribution (Blythe and Martin, 2019). choosing rightdistribution channel is among the role of marketing manager. Since, Amazon is the largest e-commerce business in the world, it deals in many brands and this gives it advantage in market,Amazon uses the home delivery system to reach the customers which is more preferable by thecustomers. Marketing manager of Amazon is responsible for making plans related withdistribution of products and services. It involves decisions such as maintaining inventory, choiceof distribution channel, warehouses, storage etc.
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