Marketing Strategy and Plan1 Executive Summary The paper highlights the marketing plan for the company Amazon. The organization serves retail goods to the customers present in the international market by making use of e-commerce strategies. The below mentioned market plan would help the organization to effectively make use of available resources in the market to grow. The action plan would support the timely implementation of the strategies in the market. Also, given recommendations would help the organization in improving their competitive advantage in the target market.
Marketing Strategy and Plan2 Contents Introduction......................................................................................................................................4 Findings...........................................................................................................................................4 Segmentation, Targeting and Positioning....................................................................................4 Marketing Mix.............................................................................................................................5 Action Plan..................................................................................................................................6 Conclusion.......................................................................................................................................7 Recommendation.............................................................................................................................7 References........................................................................................................................................8
Marketing Strategy and Plan3 Introduction The purpose of this paper is to enlighten the reader with the information about the company Amazon. The paper defines the marketing plan for the company with the help of which the businesscangrowandattainsuccess.Thereporthighlightssegmentation,targetingand positioning strategy of the company along with marketing mix and action plan to implement such strategy. More details about the marketing plan of Amazon is discussed below: Findings Segmentation, Targeting and Positioning Segmentation refers to the process of differentiating the target marketplace according to their features present with the. Segregating the consumer market on the basis of different aspects helps the organization to effectively attain the interest of right type of individuals in the corporate environment (Dolata 2017). Below mentioned is the segmentation strategy for the company Amazon: Demographic segmentation: the business should aim to attract individuals who belong to intermediate as well as high-income level in the target segment. The business should target people who have internet availability with them. On the basis of age group, the business should attract people amid the age group of 25 to 45 years. However, the organization should mainly attract the individuals present in millennial age segment (Broos, and Marcos Ramos 2017). Psychographic segmentation: the corporation Amazon should attract individuals who show loyalty to the brand. These are the people who like innovation and changes on the website. These are the people click on the products through the suggested products recommended on other websites. Geographic segmentation: the company should target the people present in the international market. They should focus on developed areas where digital sale is over real sales in the market (Laudon, and Traver 2016).
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Marketing Strategy and Plan4 Behaviouralsegmentation:thecompanyshouldtargetpeoplewhoneedconveniencein shopping. These are the people who have interest in new categories of the website. These people need to purchase products with discounts and lucrative deals with every purchase. Further, analysing all the segmentation process, the business shouldattract people fitting in middle and high income level who have internet accessibility. These people are interested in purchasing products digitally. Below mentioned is the positioning map of Amazon that they should use to grow (Brynjolfsson, and Mcafee 2017). Marketing Mix Product: the company is involved in selling products online so they serve wide variety of products in the target market. The company serve retail goods and services, electronics, amazon pay, amazon prime, amazon publishing, video direct, publishing etc. services in the business environment (Thompson, Strickland, and Gamble 2015). Price: the company should make use of market orientation pricing strategy in the market so as to attract more customers and resolve the income issue. The market orientation strategy would help the organization to evaluate the prices of competitors and then set prices accordingly on the basis of customer requirement. Also, the organization should make use of value pricing strategy for some goods to make it uncommon in the market (Myers 2018). Place: the company should make use of its ecommerce website and large distribution chain to serve products in the target market. The company has a physical book store in Seattle and
Marketing Strategy and Plan5 subsidiary Audible.com help in attracting customers. The online presence of the organization would help them in initiating effective distribution channel as well. Promotion: the promotion strategies of the company should help the organization in eliminating the level of competition in the market. The company should make use of effective advertising strategy in the market along with sales promotion and direct marketing as well. Public relations strategy would also help the organization effective attract more customers prevailing in the target market. The organization should organize marketing online and offline campaign on the basis of trends present in the target market (Razavi 2018). Action Plan ActivityTime Period (in months) ManagerGrowth Objective Concerned Department External and internal environmental analysis 2Marketing managerAnalysing information presence in the e- commerce industry (Monden 2019) R&D Analysing the type of customers 2Marketing managerSelecting right target market and evaluating their level of interest in the company Marketing Attaining of information and resources to meet client’s need 3R & D HeadAttract raw material R & D Initiation of communication plan 4ManagerCommunicate with customers present in target market Management
Marketing Strategy and Plan6 Development of communication channels 1ManagerFormulating online and offline communication channels with customers (Daniels 2017) Management Marketing Mix12ManagerUsing strategies to attract customers Management Observing results1ManagerAnalysing difference between standard and actual results attained by the organization Management Conclusion By concluding the above mentioned facts, it should be noted that the paper evaluated the details about the marketing plan of the company Amazon. The organization is present in the e- commerce segment where they serve retail goods to the people present in the worldwide environment. It should be noted that the organization should make use of effective promotion and market penetration pricing strategy in the market to attract more customers and initiate sales. The action plan would help the organization to achieve the desired objectives accordingly. Recommendation It should be recommended to the company Amazon, that they should make use of effective promotion strategy. The company should make use of all social media channels like Facebook, Instagram, Twitter etc. to promote the brand image of the company in the international environment. Also, they should research about the new trends present the market so that they can initiate their business strategies accordingly (Shuen 2018). The company should also focus on
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Marketing Strategy and Plan7 providing offers to the customers that they can use in next purchase. This would initiate repeated purchase for the organization. Lastly, the company should also tie up with several organizations in the market so as to attain retail goods at economic rates in the market.
Marketing Strategy and Plan8 References Broos, S. and Marcos Ramos, J., 2017. Google, Google Shopping and Amazon: The Importance ofCompetingBusinessModelsandTwo-SidedIntermediariesinDefiningRelevant Markets.The Antitrust Bulletin,62(2). Brynjolfsson,E.andMcafee,A.N.D.R.E.W.,2017.Thebusinessofartificial intelligence.Harvard Business Review. Daniels, A., 2017.Dropshipping: Complete Guide to Start Your Six-Figure Dropshipping Business NOW! How to Find Profitable Niches and Make Passive Income with Shopify, Amazon FBA, Ebay, Retail Arbitrage. CreateSpace Independent Publishing Platform. Dolata,U.,2017.Apple,Amazon,Google,Facebook,Microsoft:Marketconcentration- competition-innovation strategies(No. 2017-01). Stuttgarter Beiträge zur Organisations-und Innovationsforschung, SOI Discussion Paper. Laudon, K.C. and Traver, C.G., 2016.E-commerce: business, technology, society. Monden, Y., 2019. Pricing Strategy and Cost Compensation of the Platforms of a Two-sided Market—With a Case Study of Amazon Online Shopping.Sustainability Management And Business Strategy In Asia,16, p.189. Myers, A., 2018. Amazon Doesn't Have an Antitrust Problem: An Antitrust Analysis of Amazon's Business Practices.Hous. J. Int'l L.,41, p.387. Razavi, A., 2018. Best Buy’s Competitive Strategy in Amazon Era. Shuen, A., 2018.Web 2.0: A Strategy Guide: Business thinking and strategies behind successful Web 2.0 implementations. O'Reilly Media. Thompson, A., Strickland, A.J. and Gamble, J., 2015.Crafting and executing strategy: Concepts and readings. McGraw-Hill Education.