Amazon.com Inc. Case Study
Amazon.com Inc. (Amazon.com) is one of the principal online retailers and provides web services to its clients globally. The firm offers products that comprise auto and industrial items, apparels, electronics, grocery, beauty and healthy products, games, books, jewelry, sports goods, toys, music, and movies. In addition, the company offers various services that include website hosting and other related web services, shipping and home delivery. The company provides its merchandise via company-owned websites. The firm, together with its subsidiaries, operates in North America and other international locations. The company is headquartered in Seattle, the United Sates.
The company has adopted internet marketing strategy that has enabled it achieve its industry objectives and its marketing approaches via web site. The company founded the initiative of selling books online in 1994, which has become exclusively inventive ever since. This online retailer which began with selling books on the Internet, has grown currently to selling CDs, gifts, videos, toys, electronics and so on. The firm further has prudently devoted marketing strategies at determining what the client needs and then worked towards satisfying the client’s anticipations. It is not astonishing that Amazon.com has almost 8.4 million registered customers and approximately 60 percent of their business is from loyal clients. Nonetheless, most of all Amazon.com has attained all this triumphing the internet marketing and established its position in the online retailing market much before its rivals have/and that is one of the major explanations for the firm’s achievement in the internet marketing.
Furthermore, Amazon.com has a constantly developing brand equity as well as customer base that it has emerged to be more and prevailing every day. The company differentiates from its rivals by offering convenient, quality, and user-friendly services through low prices. Founded on all the above aspects ,which are key drivers to the marketing strategies of the firm, and its robust stock-price, the firm has been taken to have a lot of prospective for growth in the prospect, not just in the book-selling venture but also in online retailing of a number of other services and products. The firm has participated in a number of acquisitions and partnerships of firms, which are either service providers or product sellers on the Internet and that attend a niche market. Cases of these firms include Junglee.com (online price comparison service) and PlanetAll (online calendar and scheduler), which were acquired by Amazon.com, in its quest to emerge as one of the most dominant and diverse retailers on the Internet.
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Amazon.com was established and launched in 1994 by Jeff Bezos as an online bookstore with its headquarters in Seattle, Washington. The firm speedily diversified by adding a mass of diverse product groups comprising music, movies, games, software, digital downloads, electronics and computers, toys, home and garden, apparel, grocery, shoes, and health and beauty. Currently, the company is one of the Fortune 500 Company; the company was one of the leading firms to sell goods through the internet. As a result, to Amazon's all-encompassing variety of products, they are currently a principal worldwide internet firm and one of the most traded internet retail destinations globally.
The marketing strategy of Ries & Trout, based "Positioning: The Battle for your Mind?" allows the company to remain the industry leader so that its name and message. The strategy deals with the positioning of the company in the market, thus, meeting the needs of the clients adequately as well as ensuring that it attains competitive advantage in the internet marketing strategy. This strategy is similar to the Amazon.com internet marketing strategy. Amazon recognized early on that to prosper in the internet marketing as a big firm they will need to differentiate and position themselves amongst rival firms. Therefore, this is when the company expanded their product groups and fundamentally their customer base to attain a broader market, hence, greater market share. In addition, as technology progresses, Amazon has found a means to take advantage of new advances.
Amazon's approach needed to progress over the years because of the shifting technology and rivalry in the internet marketing element in the industry. The company needed to cope with the changes that were taking place in the industry by adopting the most effective and productive technologies. Through this, Amazon.com struggles to provide its clients enthralling value via a wide-ranging collection of products, a high level of tailored consumer service, high quality content, and competitive pricing.
The firm must adopt a marketing strategy, which will commit more resources to marketing, protect merchandise from vendors on more attractive conditions, and promotion campaigns, adopt more insistent inventory stocking and pricing approaches and devote significantly additional resources to Web site and company’s systems growth. The strategy should endeavor to focus on the company’s clients, hence, lead to customer satisfaction.
The company marketing strategy based on what clients told them is that they use the response to make advances, which will make sure that the clients’ needs or recommendations are undertaken. Through the interactive website, the company will improve the services and the quality of the products, hence, customer satisfaction.
The excellent use of e-mail communication by the company, together with the client before and after the client has made a purchase, is crucial. It is extensively acknowledged that clients shop at Amazon.com for its widespread product collections, its excellent use of e-mail for marketing, it is easy-to-navigate site, and customer service, and its skill at tailoring product commendations to the general public. The site is fabricated with the visitor knowledge in mind. The aim is to upsurge clients’ time value by enhancing client loyalty and reducing customer defections.