Amazon's Global Marketing Plan
Prior to beginning work on this assignment, watch the BUS622 Week Six (Links to an external site.) video with Program Chair for BA of Operations and Analysis, Bill Davis.
With this final paper, you will complete the Global Marketing Plan Part 2 for your mentor company that you began working on in Week 2 of this course. When submitting this assignment, be sure to include the portions you completed during Week 2 through Week 5, and make any adjustments to the work using any recommendations from your instructor.
For this final paper, you are encouraged to upload your work to your ePortfolio in addition to Waypoint. You can learn more about Folio, the ePortfolio tool used by the University of____________, by viewing the Folio Quick Start Guide (Links to an external site.). When you submit your assignment to Waypoint, you will paste the link to your Folio page as a comment in Waypoint so your instructor can access your ePortfolio. Refer to the Getting a Link to a Project in Folio (Links to an external site.) resource for more details.
In your paper, address the following directives using the headings below:
Under an Executive Summary heading,
Summarize the rational of your plan.
Under an Environmental Analysis heading,
Analyze the environmental situation of your mentor company in the global arena based on economic, trade, social and cultural, political, legal, and regulatory factors.
Under a General Strategy heading,
Explain your segmentation, targeting, and positioning strategy for that line of product in the new region.
Hint: Refer to your Week 3 Twitter Advertising Analysis for Target Marketing discussion forum.
Discuss your market entry strategy including export selling and sourcing activities, if any.
For assistance with Level Headings, review the APA Style Elements (Links to an external site.) resource. Review the Writing an Executive Summary (Links to an external site.) resource for tips to help with your assignment.
Under a Specific Plans and Strategies heading,
Explain your competitive advantages strategies to compete against five industry forces.
Formulate the 4Ps:
product and brands
Hint: Refer to your Week 4 Product Branding discussion forum.
price
place
promotion with a special focus on digital media and integrated marketing communication (IMC)
Hint: Refer to your Week 5 Integrated Marketing Communications assignment.
Discuss the company’s CSR and social responsiveness strategies, particularly in the selected region.
The Global Marketing Plan Part 2 final paper
Must be 10 to 13 double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Writing Center’s APA Style (Links to an external site.) as outlined in the Writing Center’s APA Formatting for Microsoft Word (Links to an external site.) resource.
Must include a separate title page with the following:
Title of paper in bold font
Space should appear between the title and the rest of the information on the title page.
Student’s name
Name of institution (The University of Arizona Global Campus)
Course name and number
Instructor’s name
Due Date
Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.
Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Writing Center resources.
Must use at least six scholarly sources in addition to the course text.
The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
Must document any information used from sources in APA Style as outlined in the Writing Center’s APA: Citing Within Your Paper (Links to an external site.) guide.
Must include a separate references page that is formatted according to APA Style as outlined in the Writing Center. See the APA: Formatting Your References List (Links to an external site.) resource in the Writing Center for specifications.
Please use Folio to upload your paper.
Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.
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Global Marketing Plan
Student's Name
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Executive Summary
A global marketing strategy is an integrated approach that should be considered by any company intending to grow. The report below depicts Amazon's global marketing strategy, incorporating various sections. This analysis includes political, social, and economic factors surrounding Amazon's business operations. Also, these parts incorporate situational analysis, general strategy, specific plans, corporate social responsibility, and responsiveness. The available strategy section comprises, Segmentation, Targeting, and positioning in the region selected. The particular plan's section explains the 4ps model to detect how Amazon utilizes the marketing approach in its global marketing project. With corporate social responsibility, this analysis depicts various strategies Amazon uses to ensure the well-being of the environment in which the company operates. Hence the investigation leads to a conclusion on the models used to enhance social responsibility in its marketing project.
Introduction
A global marketing plan is crucial for any company's competitive advantage worldwide. Also, the model plays a significant role in ensuring a corporation's long-term stability. Amazon refers to one of the quickest-growing entities in the world. As part of the marketing plan, the environmental analysis incorporates the cultural, economic, legal, and social aspects that determine a company's long-term profit generation as it operates in the global business context. The general strategy represents segmentation, positioning, and targeting for the product line in the region a corporation is expanding. Besides, the 4ps marketing approach reveals an entity's plan to market its brand, which involves products, place, promotion, and place. Corporate social responsibility represents the idea that an entity should play a significant role in the community while considering the surrounding and social effects of business decisions. This discussion outlines Amazon's global marketing plan by highlighting the above factors as they link to its operations.
Situational Analysis
Economic Factors
Amazon is situated in America, a global economic operation leader. The U.S. adjusts its unemployment rates, allowing Amazon to generate more revenue in business. Besides, the country's inflation rate stands at 8.2%, an increase from last year, which was 5.39%. However, the economy supports business despite the worsening inflation with time. Amazon works to adjust to the changes by incorporating innovation in its operations. Also, the environment in which Amazon operates does not experience an economic recession, occasionally giving the company an excellent chance to grow its operations. Hence, the environment in which Amazon operates is defined by financial stability and growth.
Social and Cultural Factors
Amazon's global business arena indicates multiple aspects. The rising wealth inequality in the global context, especially in developing nations, poses a significant challenge to Amazon through various costs. However, its venture into the online business retains clients from multiple classes. Besides, in growing continents like Africa, consumption continues to increase, which allows Amazon to grow its business through increased sales. Numerous people around the globe have transformed into a culture of online purchasing at their convenience. Thus, with the above aspects, Amazon retains a good record in trading, which keeps it on the upper end.
Political Factors
Amazon is a global firm operating in various countries with different business laws. In the U.S, multiple taxation regulations designed have impacted the company to a greater extent. The latest rule was the 2017 internet law which supposed paying for involving in online trading activities. Besides, in other countries, such as developing nations in Africa, taxation is essential for any business. America's political stability allows Amazon to conduct its activities freely without unnecessary disruptions. Due to the firm's scale and scope of its business activities, Amazon indirectly impacts U. S's politics. Hence, in the countries where the company operates, it dramatically influences the ruling authorities. The country's corruption levels reflect its status as a developed nation. There are minimal corrupt government activities, allowing the company to retain its facilities while enhancing growth. The company's management policy will enable it to empower effective leadership in multiple sectors. Amazon utilizes research to detect multiple political aspects likely to impact its business before expanding to its territories.
General Strategy
Amazon's decision to expand into Africa would be the best option to grow its global business. Although the continent comprises producing countries, 11 member states include the best developing nations. With the above advancements, Africa records a fast-growing ICT sector. By the end of 2017, about 50% of the continent's population possessed mobile phones. This situation poses a significant advantage for Amazon in its online facilities. Using the internet and social media will be Amazon's marketing model to reach multiple clients within a short period. The STP marketing model in business represents positioning, segmentation, and targeting. Amazon should focus on the above aspects to effectively market its products in Africa
Segmentation
The main goal of segmentation is creating multiple customer segments according to specific criteria. Here, Amazon company should utilize the behavioral and geographical segmentation models. Since countries like South Africa indicate a fast growth rate, the company may divide its clients based on how they purchase commodities while categorizing them based on what they buy and browse. Also, countries like Nigeria have many people who shop online. Using social media, Amazon may detect various clients regarding what they purchase. Besides, the buyers can reveal their preferences to ensure they receive services that meet their needs. Thus, an effective segmentation procedure would be crucial in maintaining a competitive advantage over the potential rivals in the new region.
Targeting
This procedure entails having a keen look at various segments created to determine which of them is likely to bring the desired outcomes. In the case of Amazon, it would select segments from the fast-growing economies in Africa. Such client categories comprise those from nations like Nigeria, which indicates tremendous growth in numerous businesses. Also, Amazon will look at the size of the segment to determine its reliability for online sales. The reachability factor would be crucial in evaluating the transportation systems that connect the country to other global parts. South Africa would emerge as a potential business segment with its connectivity to sea transport. Also, the country's GDP stands at around $345 billion, a clear indicator of profitability. Thus, with the above data, Africa is the best continent to consider in the marketing plan.
Positioning
This step entails setting the products apart from the competition. Since many corporations undertake a similar business, making the services and products unique is vital to meet clients' needs. Since Amazon will be new in different regions, it would need to utilize symbolic positioning of its facilities. The model would enhance the clients' self-image, ego, and ego. In doing so, the firm should embrace innovation to promptly create compelling services that meet client needs. Thus, the company should offer the best to attain a competitive advantage. Also, diversity would be crucial to ensure the company attends to clients from multiple backgrounds. Thus, research remains a vital strategy for Amazon to detect the purchasing power of people from various backgrounds.
Specific Plans
The 4 ps model is essential in this section. This approach stands for product, place, promotion, and price. The model incorporates various prioritized elements when marketing services and products, including what buyers want (Gruszka & Tang, 2017). Also, how the providing entity interacts with its clients matters significantly. Amazon will utilize its marketing mix model to attract clients to its e-commerce facility. In this regard, the corporation will reach out to its online target market through the above approach. As the largest e-commerce company globally, Amazon continually undergoes increasing rivalry, which may reduce its global potential and market share. To remedy this issue, the firm should ensure its marketing mix aligns with the contemporary business environment relative to market status. Hence, Amazon will utilize the 4ps approach in the global marketing plan.
Products
Amazon's products and services are prioritized in this marketing mix component. Also, the corporation provides a broad product category as the top facilit...