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Strategic Marketing Assignment - Amazon

   

Added on  2020-11-12

17 Pages6143 Words68 Views
STRATEGICMARKETING

ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Strategic planning...................................................................................................................3Marketing strategies analysis.................................................................................................6CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................16Books and journal.................................................................................................................16

INTRODUCTIONStrategic marketing is a plan that is crated to increase the reach of products of thecompany and satisfy the customers while increasing profitability and productivity. A companycannot fulfill all the needs of its customers and therefore in order to maximize their benefits thecompany segments the market into small sections and target one or two of them to get competitiveadvantage. Strategic marketing helps in formulating strategies by evaluating the potential of themarket in which the company wants to offer goods and services so that it can create maximumcustomer value. Strategic marketing helps the company to maximize differentiation with otherfirms in the mind of its targeted customers. To understand the concept better, the report will take Amazon which is an E- commercecompany that is specialized in selling products and services over internet. It has taken theadvantage of web technology and deal with customers through internet marketing. There is nodenial that the company has long term vision and develop strategies to attract its customers. Dueto its continuous adoption of new marketing strategies.,Amazon became world's leading retailer. To achieve success, the company has madestrategy that is fully customer focused and promotes both internal and external marketing. Thecompany is all focused on giving a delightful experience to its customers in most different ways.The report will present Amazon's marketing strategy and will analyze Amazon's customer centricstrategy. It will discuss marketing plan, procedure of implementation of marketing strategies ofAmazon.MAIN BODYStrategic planning Every business need to make strategy to be successful in the market and to retain thecustomers. Strategies are the action plan that helps the company in achieving its objectives thatare set by them which can be increasing market share, profitability, retaining customers, customersatisfaction etc. It provides information to the company as well as direction which allow it to havecompetitive advantage over other firm in long term even when the environment of the business ischanging continuously (McDONALD, 2016). With the help of direction sense and specified the company, strategic planning process isvery crucial to the company because it provides regular guidance to the company in takingdecisions and also helps it in evaluating the progress as well as point of reference when company

has to change it strategies and approaches in the fluctuation business environment. The effectivestrategic planning helps in implementing business strategies and allow flexibility and changingenvironment. This tool helps managers in defining objectives of the business along withenvironment scanning with the use of various approaches and develop tactics which are necessaryto implement the strategy (Ansoff and et.al, 2018). The company has to make a strategic planwhich includes objectives, mission and vision statement, tactics, action and control etc. In order togive tough competition to other companies in the global market, Amazon has developed andimplemented corporate strategy which is used by Jeff Bezos that is effective in nature and is fullycustomer centric. With the help of its strategies the Amazon has been able to deal with various changes thatoccur in environment and rise in the market especially after attack on World trade center andeconomic crises of 2008. It sustained the competitive advantage by expanding its business intopopulated country like India and opening its first online store which gave boost to the company.Amazon is most focused on its corporate and business level strategies and under which it focuseson customer centric approach which serves three distinct groups of customers which are sellers,developers ad customers.Strategic marketing planMarketing is the most important function of any business which deals with identifying theneeds of customers and increasing sales and profit of the company. Marketing is the function ofmanaging profitable customer relationships (French, 2015). Companies to generate profit andincrease sales use market research, scanning of marketing environment and advertising with otherpromotional techniques to promote its products and services. On the other hand, the process ofmarketing needs to result in satisfying needs and wants of the customers but that is possible onlywhen company is able to design or provide a valuable product to the customers. To increase salesand satisfaction of customers by designing unique products' which provides value to thecustomers and they feel like the product are worth buying, marketing act as a tool used by manycompanies in building customer loyalty and increasing competitive advantage of the company. Toget efficiency in marketing, company requires a planning process that guides and describesparticular set of outcomes that are need to be achieved to obtain desired objectives. Strategic marketing is a tool that is used by top management people of the company andhelps to develop a strategy that fit between three attributes which are objectives of the company,

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