Amazon Inc.'s Marketing Plan

Company’s Marketing Plan
Students Name
Institutional Affiliation
Company
The Amazon.com, Inc., is a multinational company located in Seattle. The company focuses on the retailing of consumer products in different parts of the world. Through the company's technological mass scale and technological invocation, it has been able to disrupt a lot of industries in the e-commerce sector. It is known as the largest Artificial Intelligence and cloud computing provider in the world. Such indicators are measured by the revenue obtained by the company from its retailing activities. The company plays an important role in connecting buyers and sellers through a trustworthy platform. Given the current technological advancements, people have turned into online shopping as a convenient way of purchasing goods and services in the comfort of their homes. Therefore, this has created an e-commerce and retailing industry in which Amazon.com Inc operates in. It is a company that helps consumers access most of the goods on one platform. The company has three segments through which it provides its services. Among them is the international, North America, and Amazon Web Services (Kristensen, Penner, Nguyen, Moy & Lam, 2017).
Identification of marketing mix
Products/services
Amazon.com Inc uses the marketing mix strategy as a way of attracting customers to the website. Among the elements of the marketing mix used to attract clients is the products and services offered by the company. Amazon.com Inc provides e-Commerce services by connecting buyers and sellers. Manufactures from different industries use the company's platform for marketing their products. Once a buyer has purchased the product or service, Amazon gets a share of the profit made. Given that the company has already established its brand, it provides both consumers and buyers with a trusted retail platform hence increasing its market share. As well, sellers can also sell a service to potential buyers by providing a description and cost of the service that they intend to offer the client. The wide range of products plays a substantial role in attracting as many customers as possible. A client can easily get anything that they are seeking to purchase under one platform, the amazon website. Major brands across the world have trusted Amazon as a platform for selling their products. Such reduces the chances of an individual having to purchase counterfeit products. As well, the company makes use of an individual's search history to make recommendations of related products that they might need. Given that the platform offers a medium for many sellers, there is high competition, which forces the sellers to focus on the quality of the products. A client is offered to the opportunity to review or rate the product that they purchased. Such reviews are, in turn, used as a reference point by other clients while making a purchase. Hence, every seller has to ensure that their products and services are of good quality and matches the provided description. The company does not only provide an online retail platform but also acts as a base for other consumer products designed to address the various market needs. Such products include the Amazon Prime Pantry, Video Direct, AmazonFresh, and the AmazonDash, among others. The Amazon Prime Pantry allows consumers to order and have grocery items delivered at their doorstep. Video Direct allows consumers the opportunity to view user-generated videos for free. Through the AmazonDash, a client can easily purchase goods by clicking a button that connects them to the internet (Farah & Ramadan, 2017). Therefore, the wide ranges of products help in the enlargement of the company's market share.
Promotional mix
This section of the marketing mix provides a company with the opportunity to communicate with the target buyers. Amzon.com, Inc, being an online platform, has a marketing need of persuading as many customers as possible to visit their website to get an insight into the products and services being offered. Given the world of technological advancements that the company operates in, then it has been easy for it to achieve the promotional strategies. Most people are seeking to purchase items at the comfort of their homes, and therefore, all that is required is for the company to make itself available to such consumers. Such has been made possible through advertisements, public relations, sales promotion, and direct marketing. Advertising is a crucial way through which the company connects to most of its consumers. For instance, Amazon has an affiliate program where it allows online publishers and website owners to earn revenue by displaying links to the products being sold on the Amazon website. Such a program has worked well for Amazon by bringing in new customers. The chances are high that a substantial number of the individuals visiting the websites with an affiliate program with Amazon will visit the Amazon website. As a result, the strategy has increased the market share for the company. In addition, sales promotion plays an important role in attracting new customers as well as maintaining the existing ones. An example is a case where the company uses special offers and discounts as a way of generating more sales. Once an individual has purchased a product at a discounted price, the chances are high that they would refer their friends. As a result, the company will end up increasing its sales margin as well as getting new customers. Besides, the firm's brand is a crucial factor in increasing its marketing share. Amazon.com Inc has already established a brand in the e-Commerce market, and therefore, its public relations strategies help in maintaining the brand. Among the public relations programs is the Amazon Smile, which makes donations to charitable organizations. As a result, the program ends up enhancing the consumer's perception of the company. A positive perception of the company increases the consumer's chances of passing a positive word of mouth to potential clients. Thus, the company would end up increasing its market share. Besides, direct marketing allows the company to communicate with other businesses to offer digital content distribution and other online services. The advertising strategies have helped in growing the company's market share since it is one of the most famous and trusted online shopping platforms.
Pricing strategies
This section of the marketing mix focuses on the pricing strategies used by firms to price their products. A lot of consumers have a great consideration when it comes to purchasing. The consumer needs to get value for their money by paying an amount that is worth the quality of the product. It is the wish of the consumer to shop at a place that offers affordable prices. Therefore, Amazon uses low prices to attract its consumers. Given the wide variety of products offered by the company, various pricing strategies have been in use to ensure that the company attracts many customers and maintains its brand. The strategies include value-based, price discrimination, and market-oriented pricing strategies. The market-oriented pricing strategy is the company's primary way of pricing its products. According to this strategy, the company prices its products based on the competitors' prices. As a result, this ensures that the prices are affordable and attractive, thus attracting more customers to access the amazon website. In addition, the price discrimination strategy is where the company applies different prices for the same product on different websites. An example is a case where the cost of a particular item is different in the UK and US (Baltes, 2016). Each of these areas has their own amazon websites. The strategy plays an important role in informing the company about the national market conditions. As a result, it becomes easy for Amazon to set a competitive process for their products in different parts of the world. As well, the pricing is also determined by consumer preferences and the expected value of the products. Besides, the company uses a value-based strategy to attract customers to purchase their products. The strategy is based on the values of the product and the expectations of the consumer. Therefore, the pricing strategies form an important aspect of the marketing mix, which has helped in expanding the marketing base of the company.
Competition in Amazon
Given the technological advancements in the current world, then a lot of companies are being established with the aim of offering the same products being offered by Amazon.com Inc. therefore, this is an indication that Amazon is already facing a lot of competition. However, the company beats such competition on both regional and national markets due to its brand name. When it comes to online shopping, a lot of people across different parts of the world would think of Amazon. The company has been in the market since 1994, and therefore, it has already established a huge market. It is, therefore, challenging for upcoming companies to...