Strategic Marketing assignment | Amazon
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Added on 2021-02-22
Strategic Marketing assignment | Amazon
Added on 2021-02-22
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STRATEGICMARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1STRATEGIC PLANNING..........................................................................................................1Mission and Vision.................................................................................................................1Strategic marketing plan:........................................................................................................2Strategies of marketing:..........................................................................................................2Action and control:..........................................................................................................................3INTERNAL MARKETING STRATEGIES................................................................................34P'S MARKETING MIX STRATEGY:......................................................................................4Amazon's Segmentation Strategy................................................................................................6Strategic Gap Analysis.................................................................................................................8Recommendations and the scenario forecast ................................................................................11Conclusion.....................................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONAmazon is the American company which have specialization in online business, whichmeans selling products online. According to various researchers the company have used the latesttechnology and needs of the customers. Amazon is dealing in electronic items which are sold onlinebut amazon is also dealing in various other products like books, and clothes. Company is alsoattracting customers by new offers and offering customers wide range of products. Amazon is usingvarious marketing strategies and techniques which are working in the favour of the company.Business market is market for the customers choice, company works as per the need of the customerand demand of the customer. Marketing means promoting the products of the company, amazon hassuccessfully promoted the products of the company. Amazon has set up company image as theglobal giant in the market. Company is customer centric and focuses on the strategies used by teamfor marketing of the company. Various other companies are also entering the online market whichis increasing competition in the competition in the market. Amazon is following marketingstrategies because of that company is able to fight the competitors in the market.STRATEGIC PLANNINGMission and VisionMission statement is company's business and its objectives whereas vision statementdescribes about the future position of the company. These statements are fixed by the goals of thecompany. Amazon has its mission and vision statement, every company has to set up thesestatements, these statements are part of strategic planning. Amazon statement is focused oncustomer's satisfaction and convenience. Company is running through customers so company isoffering them various offers and delivering right products on time. Seniors of company willcommunicate these statements to the new employees and make sure that statements arecommunicated in clear and simple language. This statement include performance of the employeesand customer satisfaction. Amazon is heading towards the goal of the company set by theshareholders and stakeholders and promoters of the company (Taiwo, Lawal, and Agwu, 2016).Company need to make certain goals, so that every member of company is followed on right pathand with right values. Company must ensure that vision statement is achievable and missionstatement is actionable in the company.
Strategic marketing plan:Marketing is term which deals with needs of customers and sales of company. Marketing ispromoting product in the market of the needs of customer. Strategic Marketing is building strongrelations between the customers and the company. In order to increase sales of company marketingis an essential tool for market segmentation and advertising. Market segmentation is done accordingto need of customers and satisfaction of customer, through this plan company is able to buildloyalty among customers. Amazon is selling products like clothes, books, beauty products, dailyessentials and electronics. It is selling wide range of products that to branded and is includingdiscount offers which is attracting the customers. Online business is increasing day by day andcustomers are attracted towards the technology, so the company is trying to provide good qualityproducts and provide good after sale services after buying products (Abratt, and Bendixen, 2018).Strategic marketing plan must be flexible according to need of customer, employees need tounderstand the markets that need to be targeted, this process of marketing will take company to newheights. Amazon marketing in done through online and mouth publicity and as well customerservices.Strategies of marketing:Amazon is following competitive strategies for marketing and fighting the competitors inthe market. Advertising media and space is creating low cost of the marketing. Company is alsousing marketing mix strategies for attracting the customers with the help of 4Ps which includesproduct place price and promotion. Some other strategies such as STP and communication tools isalso used by company. Amazon has the biggest market place which results in sales, customer has tolink accounts with safe pricing mode. Amazon has the biggest advantage of mobile in theadvertising process because amazon is an online company and products are sell through phones.Company websites or mobile apps usually face traffic problems while surfing, so company must tryto solve this problem for customer satisfaction. Entering in to the international market is still adream for the retailers but retailers can use the amazon market place and sell their products in theinternational market. Customers have the preference of sorting products as per their needs.Marketing is also through google ads and through the help of social media (Torres Behe andBarton, 2018).
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