Report on Live strategic marketing- more effective towards the growth of the product and the services of the company

Live strategic marketing

Introduction

It can be put forward that Amazon which is one of the finest organization in the world can be used as a case study so that the statement of, “The best marketing strategies aren’t top down, they are outside in, starting with the customers’ needs and wants.” It can be stated that during this assignment various literature has been taken into consideration of critically Analysing how the various voice of the customers have driven the marketing decision for the organization strategically. The company has been one of the top companies who has used their strategies effectively and also have been able to implement it with their customer-oriented base business.

It can be further discussed that with the analysis of the various marketing strategies of Amazon it has been found that Amazon is a company which is dependent on the various web service and innovations in the technological field, it can be described that they have a competitive advantage over others. The company has also opened various outlets so that it can use the various marketing strategies using the principle of 4Ps. Since with the increase in technological development, it has been ascertained that most of the companies are coming online which will be an imminent threat and competition to Amazon and their base of customers. With the use of the marketing mix and various other strategies, it can be put forward that the company will retain its customers.

Background of the Company

Amazon can be described as one of the finest company who has mastered the art of selling products to the customers as well as provide quality service to them over the internet. It has been estimated that with the use of the various technologies that enhance their performance over the web it has been one of the finest in selling and also making revenue from the various online services that it’s diversified products. According to Newcombe et al., (2015 p.67) it has been stated that the company has been growing exponentially since the time it was established to the year of 2003. The

company has been consistently investing in technological advancement in the research and development of the company. It has been found that the company have been continuously investing in the development of the various strategies of the business in relation to the diversification of the products and services, customer retention by services and also using the various strategies of the marketing strategy so that the company can focus on the various focus of the customers and their needs (Kantor and Streitfeld, 2015 p.75). This assignment will evaluate how the company Amazon has put the customer voice first in relation to the implementation of its marketing strategies.

The Use of Strategic Planning

As per a long term growth perspective, a company needs to make a set of plans so that it can grow effectively in compared to the competitors and also to attain the current growth and plan that it aims to attain in the current year. Strategies come into work when the company intends to achieve it and also to have a long term technological and competitive advantage. With the use of the strategic planning of the company, it will be able to channelize its resources and also the various skills that it has to achieve the target for the company and to meet the market expectations for the company. The strategic planning helps the company to adapt and to grow when the business environment is changing as well as to increase its market share in comparison to its competitors so that it can sustain when the market is harsh on them. Kantor and Streitfeld, (2015 p.78), has stated that strategic planning is actually a tool which helps the top level management to actually define the various objectives of the company, search for opportunities of growth and to attain its goal. There are numerous steps that are included in the strategic planning which is basically the mission which is flowed by the objective, then the goals, the SWOT analysis, strategies, structure and finally the information systems and the management control.

The process of how strategic planning is done for the company in order to compete internationally. According to Rothaermel, (2015 p.54), it has been found that Amazon as an international company has been able to adjust with the various changes in the environment as well as the market crash in 2008 and the attack on the world trade Centre in the year 2011. The company has been able to comparatively use its strategic planning and has expanded effectively to India with its store over the web and dominated the online market with the use of its strategic planning. The company has always been a center in the customers which are by the use of the groups which are used to define it such as the seller and developers, namely customers and finally the customers.

The Strategic Marketing Plan

It has been seen that marketing is one of the most crucial steps for a company for its product and services. It has been seen that with the increase in the competition a company needs to market its product in such a way so that new sales can be generated for the company as well as meets the various needs of the various customers. With the use of various marketing strategies, the company will be able to generate more sales with the use of quantitative and qualitative market research. Advertisement plays an important part in the marketing of the products and the services of the company (Miguel and Casado, 2016 p.128). The marketing strategy much brings in the use of new useful products and services for the company as well as taking into consideration what the customers need. The strategic marketing by Amazon has not only made the company more valuable but also increased the loyalty of the customers as well as the various competitive advantage of the company.

According to Thompson, Strickland and Gamble, (2015 p.21), he stated that the marketing strategy is set by the company is taking into a consideration of the various objective of Amazon, the various resources that the company has and the various opportunities that the market has to offer them. In

the process of marketing, the various data are collected in consideration of the various growth of the company and also to attend the various goals that are set by the company. The marketing strategy is very important and is different than the corporate strategy. The marketing strategy is a set of tools which will help the company to study and evaluate the various customers and the market of the customers and it will also help in focusing on various factors of the company. Amazon has always provided services and products which are comparatively offered to their customers in comparison to their competitors so that they are as per the customers’ requirement which is a good initiative as per the marketing strategies.

The Vision and Mission of Amazon

Amazon has the vision to be one of the finest in terms of being a customer-centric international company who are to provide the customers to provide a platform where people will come and will buy anything they want to from the online service (Rossman, 2016 p.41). The company has also stated its mission where they intend to offer their customers all over the world to provide products at the lowest cost in comparison to their competitors as well to provide their customer's a wide range of options and provide ease convenience in the process of ordering.

Tactics and Strategy of Amazon

The company has used the most effective strategy which is the use of the advisement in cooperative nature because of the local cost which is an advantage of the company in the various space and time of media for the company. The company attracts new and old customers with the use of the marketing mix which is a strategy of the 4Ps which are also known as the place, price, product and the promotion (Kaur, 2018 p.55). There are also some other factors of strategy which are the segmentation, positioning and the communication which adds up to it.

Control and Action of Amazon

It has been seen that the company grew at first from the selling of the books online. The company was then found to have been expanded with not only various other categories of products for its customers but also with diversified products. The company also allows the retailers to sell their products through Amazon and with the help of the technology that Amazon uses the company can monitor the records of items that the customer purchase and provide their customers with a better service for them.

The Analysis of the Marketing Strategy of Amazon

This section will take into consideration of how the company uses its internal factors for marketing as well as the external in order to meet and focus on how to meet the various needs of the customers and how to provide better service to them.

The Internal Marketing Strategy of Amazon

According to Hsiao and Ma, (2017 p.225), it can be ascertained that the company needs to take into consideration the various factors that affect its internal growth. Amazon is a company which is heavily oriented with the customers they need to use their employees effectively so that the process of the marketing can be attained and also to provide satisfaction to the various customer needs. The strategy heavily relies on how internal communication is actually effective and also help the various employees of the company to understand the importance of marketing for the company. The internal marketing thus can be simplified that the process which is involved in the marketing of the company’s product within the organizational employee. This can be further elaborated that it requires the directors and the other higher executives of the company to accept the use of this strategy.

In regards to Amazon, internal marketing plays a very important as with the optimization of internal marketing, only then the company can grow effectively in the external market. It can be stated that Amazon has been using the various use of the improvement in customer service by improving their internal system. This strategy will help the company attain all the goals that it has set and also to gain a competitive advantage (Miguel and Casado, 2016 p.128). The company intends to make a statement with the internal employees of the company that they must be able to provide higher quality service and also to provide it as per the customers need. With the robust built-in service, the company is able to provide better service to their customer (Rossman, 2016 p.44). When the internal team which is the employees understand the importance of the service quality that Amazon intends and actually provides to their customers they will grow effectively. Because the moment the customers find a better product and a better service then Amazon they will go for the alternative.

The 4Ps Marketing Mix Strategy of Amazon

The marketing mix strategy of Amazon has been of the major factor which affects the marketing of the company. It is something that most of the company needs to focus to increase its quality of service and also the product that it offers to its customer. The use of the 4Ps by the company will not only help in the advantage of the company over its competitor but also gain more market share with the strategy. The 4Ps of the company has been very important in the context of the marketing mix of the company so that the company is able to analyze product, price, promotion and the place of the product and service (Stadler, 2017 p.225). It is a part of the external factors of the company which is used to render better service to their customers in relation to the customer orientation based company.

Product Mix Strategy of Amazon

In the product mix strategy of a company, a company needs to focus on how they offer their various products and services to the customers. As per Stadler, (2017 p. 228), he stated that the use of the product mix has helped Amazon to have a comparative advantage in comparison to others. The company deals in a variety of products which are retail service, Amazon publishing, Video direct, Amazon video, amazon web services, amazon prime, and many others. The company does not focus on the online retail business as a sole product but with the range of diversified products the company has been able to gather a range of customers who need different products, they can actually achieve various new customers with the differentiated products. The various products are of different nature where they are used to gather more market share and enter a new market. This diversification in their products not only increase the quality of service and number of products in total but also it helps the company to contribute towards the centric goal of the customer where they are supposed to take into consideration of the customers want and act accordingly.

The company also delivers the products at a less cost-effective manner compared to other delivery agencies like FedEx and etc. The new prime air which is a fleet of aircraft which are specially designed to deliver the goods faster (Fetscherin, 2015 p.52). With the expansion of the products the marketing mix of the company also improves but on the other hand the company needs to keep an eye on the retailers who are selling through their portal as, if they sell any bad products they will affect the brand name of the company.

Place Distribution Strategy of Amazon

The place and the distribution strategy of the company are to be able to provide various opportunity to grow the marketing mix of the company. The company will be able to address its various target customer for its product with the use of this strategy. They have used effectively various ways of

reaching their customers which are mainly through the various e-commerce websites and other sources for the company and its distribution chain. The company has been using their website as the most primary place for meeting the customers and their requirement effectively so that the company is able to distribute its products (Akgun et al., 2017 p.76). Moreover, it also has a bookstore in re Seattle where the company sells a physical copy to their customers so that who wants to evaluate the products before they get finally buys it. There are other places where they interact with the customers and tries to attend the customer satisfaction and the order of orientation under which it operates.

The company also addresses the customers through various Summits that are held so that they are able to gather new customers and also to implement the marketing of paying through the various e-commerce service. The company is heavily relied on how the company reaches the targeted customers so that the product can be brought forward to the customers and then work accordingly as per the feedback.

Promotional Marketing Mix of Amazon

Amazon is one of the finest who has implemented the art of selling online and be the world leader. When it comes to the promotion of its product the company has effectively been able to promote its product and services through the strategic use of the sale promotion, the relation with the public, advertising and finally the personal selling. The company has been consistently promoting their service and products in such a manner that they use these tools effectively to channelize the customers to pay online when they visit their website as well as pay for the services. The company has been heavily depended on advertisement for tagging new audience and market. They use various adverts so that they can help promote their products. It has also been noted that the customer base has grown by this approach (Akgun et al., 2017 p.75).

The company addresses the sales promotion which is one of the secondary methods. The company also uses the use of discounts and other offers to gather more customers and more sales revenue. The public relation, on the other hand, has been able to strengthen the brand image and also generate new sales for the company (Sherman, 2017). This directly contributes to the image of the company incorporation. Moreover, it has been noted that with the use of the direct marketing, it has been noted that the company has been able to provide more services to their customers so that they are able to increase the publishing and the distribution of the digital contents. This will in overall increase the sale of the service and products of Amazon.

Price Mix Strategy of Amazon

The price mix strategy is one of the finest and the most important tool for the company Amazon. The pricing strategy helps the company to set an attractive price in which the customers will be attracted more which will be directly contributing towards the generation of sales and also to provide quality products within the effective cost range. The strategy that is used is the value- based pricing strategy, price discrimination strategy as well as the market-oriented pricing strategy of the company (Chen, and Zhu, 2018 p.45).

The company primarily use of market-oriented pricing strategy. Amazon compares the price of its competitors and sets a price further lower than them so that they have the most lucrative price. It has been found that with the price discrimination strategy, Amazon has been able to apply various price for the same product so that it can check the various price in which the customer is willing to buy the product. It has been seen that the price of the same product is different in the UK and India. This will increase the chances to attract more customers for the company and to adjust the price accordingly. Finally, the value-based pricing strategy can be described as the strategy where the company intends to set a price level as per the value of the product (Chaston, I., 2017 p.217).

This part of the marketing mix will help the company to attain flexibility as compared to the fluctuating market price. When the company is capable of attaining the advantage in compared to its competitors as well to provide the best service to the customers in the range of selected items that they provide they will grow indefinitely.

The Segmentation Strategy of Amazon

For every growing company, they need to focus on the customers for their growth as well as development which can be obtained with the addressing of the various customers they serve and their needs accordingly. This will be done with effective marketing techniques as well as to retain the customers that the company holds. The market segment can be described as the most versatile manner of how the various customers in a market are actually sharing the characteristics of the same nature (Lincoln and Andrew, 2018). The company needs to attract and also gain new market share for the company. The company has been able to grow effectively and less cost-efficient with their past customers as compared to acquiring new customers.

Amazon has been able to gather new customers effectively as they provide the service to the customers in an easy way so that they do not have to leave their home for ordering. This creates a strong relationship with their customers as their customers know that Amazon will provide a quality product in l the least amount of time compared to its competitors. Amazon has been acquiring new market segments with the use of the personalization so that they provide more diversified products (Lincoln and Andrew, 2018). Amazon has the finest technology which is automation which records the data so that the customers can easily pay or be notified of new products that they are interested in. With the effective use of these strategies, Amazon has been driven by the retention of the customers as well as the acquisition of new.

The Targeting Strategy

As compared to the market segmentation it can be stated that the targeting strategy is basically an extension of the segmentation. With the help of the targeting strategy, it can be ascertained that it is the strategy of calculating and analyzing the various needs of the customers and how they are spending the money in the market. The company then implements a strategy of satisfying the needs of the customers with their product and services. Whereas, as it does uses the use of the segmentation it totally dismisses the customers into account who are not under the market segment where they are implanting the strategy (Arnett, Goldfinch and Chinta, 2018 p.12). Amazon has been effectively using it to address the various customers who are present in the market as well as to understand the various behavior of the customers in context to buying their products as well as to the services provided by them.

This strategy has helped in the retention of the customers as well as the use of technology as they are heavily relying on the internet. The company have been targeting most of the segments around the world and uses adaptive positioning and the multi-segment to increase its customer base. The company have been serving the various income group and have been effective with the one who does not want to buy from retail and prefer online with the lucrative offers. With the innovation, they have attracted a new customer base which adds to the cost-effective model (Arnett, Goldfinch and Chinta, 2018 p.11).

The Positioning Strategy

The context of the positioning has been a reason of how the company analyses and produces the product to the customers as per as their needs. It can be defined as the analysis of the customers taste in the context of the other brands in the market and their products. With the use of the positioning strategy, the company can establish a different brand image to their customers and also

understand in depth of what the customers want. It is a process which takes almost most of the time of the company and the company uses the various initiatives and also to target the various markets perception for the company product (Head, 2017 p.21).

Amazon has significantly established the use of the various e-commerce website in every country serving them with their products and the service so that the customers do not try to attend the offline market for the purchase of the product. Moreover, it can be stated that the company also have many service point which helps in serving the customers with prominent service to their customers (Head, 2017 p.21). The company has implemented low-cost delivery for a few products and also the increase in the zero cost delivery have added towards the marketing of the product to the customers. The company has a twenty-four seven robust service for their customers which helps them to provide better service. The company also depends on the use of the external delivery system. The company has been able to position itself with the free delivery though it affects the profit of the company but also helps in the customer retention of the company for long term purpose.

Analysis of the Strategic Gaps

Being the finest in the e-commerce business, Amazon has been able to grow effectively and work as per the consumer needs of the company but accordingly with such a wide network of operation the company faces a strategic gap. The most important strategic gap the company face now is the problem of delivery and the quality of the products that are being sold by the retailers. Amazon has faced many problems in ascertaining the problems related to the issues which created this gap. The company has implemented the strategy of using their own airlines known as the Prime Air which helps in the attainment of the one-day delivery promise of the company (Resca, and Bygstad, 2016 p. 26). Moreover, most of the retailers are being regularly checked for the quality

control as if any bad products are sold Amazon will be liable for it. Amazon has been trying to implement the continuous strategy so that these gaps can be dealt with effectively and work accordingly as per the customer needs.

Verdict towards the Company Future

As Amazon has been one of the finest in the e-commerce industry they have already been pushing towards the diversification of their products and work accordingly so that they can increase their service-based model of the customer it has been serving as well as to gather new audience so that they can increase the revenue of the company and minimize the competition from the various competitors of the company. Regarding the future of the company, Amazon has been making furious and robust steps so that they can increase their customer base with their service and it can be seen as the company has launched various services to attract new customers. The company has started various programs to influence their customers and also they have started the various search ads for the headlines of the company so that they can market the products to their customers more effectively (Welch, 2015 p. 25). It has also been seen that with the inclusion of the new prime subscription for both the customers and the vendors have increased the total sale of the company. It has been seen that the company have been consistently increasing their strategy to implement the marketing strategy and to be more robust with its model of being customer-centric.

The company has been implementing various was to assess the effects of their marketing strategy for their customers so that when they can understand of how they can stay relevant with the technology that is being used in the real-time and also increase the various solutions of data-driven in nature so that the relevance of the marketing strategy can be assessed more prominently. The company has been consistently working towards the improvement towards their ad service so that with the time they can not only increase being more cost-effective but also help them service their

customers with better products (Raj and Pandey, 2019 p. 3). The robust nature of being customer- centric has always been the first practice of the company in respect of marketing their products and the service. The rapid growth of the various offline stores going online is a major concern for Amazon as they need to consistently increase their customer base so that they can address their customers more effectively with the better quality service and products. The new medium of the delivery service such as drone delivery as well as the Blue Apron will increase their sale and increase their market presence globally.

Conclusion

The assignment has taken a deep approach towards Amazon’s future and the marketing strategy that it use in order to be more customer oriented and be more robust to the consistently changing online market. The effective increase in the marketing strategy has not only made the company be more consistent towards the company future but also to more profitable and be able to provide their product and service at a low cost. The proper utilization of the marketing strategy will help the company to tackle the various threats in the market as well as be more competitive towards their future. The company aims to provide a better customer experience by implementing the various marketing strategy which is customer oriented for increasing their service towards their customer.

It has been further seen that the various factors of the marketing tools work independently and the company needs to increase their diversification the various products and services so that it can tackle its competitors. Since the company has been a customer-centric company it has been able to deliver quality service and products with minimum delivery time which have made them be one of the finest and the largest in the e-commerce industry.

Recommendation

Though the company has been one of the finest in the e-commerce industry it has to be more effective towards the growth of the product and the services of the company. The company needs to work effectively so that it can consistently deliver the service that it is known for as well keep the various marketing strategies that it implements up to date. Moreover, it is to be recommended that the company needs to keep up to date with the effective technology as it is an e-commerce business and be more repulsive in context to its competitors and be able to provide better service in context to their products so that it can always stay on top of its competitors.

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