Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Creating brand equity
Product strategy Kool-Aid
Creating brand equity
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Creating brand equity
2.5 Positioning options
The main ways of positioning a product or brand are:
By product attribute – This positioning focus on few of the benefits or characteristic of the product.
By product class – Looking for a leadership position of the product in the market.
By user – This approach focus on the ideal consumer. Suggesting that the product is perfect for that type of person and even is contributing for the social identity.
Against competition – Here the company use comparison against the competitors.
By quality/value – positioning of the product based on high quality. Also can be claimed that the product have high value.
By application- The product or the brand are positioned as the best solution for a particular task or use.
By using combinations from the above – But this approach has to be made with caution, because confusion can appear in the message.
Comparing with the competition the products of Amazon are with high quality and lower price.
On the Ansoff matrix below is shown what growth strategies for new and existing products and markets can be used from the company.
BCG Matrix
Relative market share
The marketing plan of Amazon is focused on increasing the costumer traffic on their website, strengthen and expend the brand name, encourage repeatable purchase, developing revenue opportunities, bringing awareness of the products and the services, improving costumer experience, free shipping options. That leads to more customer visits and word of mouth promotion. They use various methods of advertising including online and portal advertising, e-mail campaigns and others.
3.1 Competitive advantage
Competitive advantage which is also a strategic advantage enables the company to ...
... middle of paper ...
...competition.
4.1 Marketing Mixes for two different segments on the market
Buying everything from books to electronics and food online is something very common today. People from different demographic segment and different backgrounds are shopping thru internet retailers. Some of them are more likely to shop on internet than others.
Demographic marketing mix:
Product –
Price –
Place –
Promotion –
Lifestyle marketing mix:
Product –
Price –
Place –
Promotion –
3.4 How promotional activity is integrated to achieve marketing objectives
Promotion is the way of informing customers for a product or service. This element of the Marketing mix is important for attracting customer’s interest and convincing them to buy the product. The important elements for promotional activities to achieve marketing objectives are consistency, coordination, reach and repetition.
Product positioning - Refers to consumers' perceptions of a product's attributes, uses, quality, and advantages and disadvantages relative to competing brands. Our R&D department is doing tremendous job meeting all our customers’ expectations.
Since the creation of Amazon in 1995, it has been a reference of adopting a successful strategy which has preserved over time; being the largest online store in the world nowadays. In addition, i...
Amazon has been able to maintain sustainable competitive advantage based on three operational strategies. These are low cost-leadership, customer differentiation and focus strategies. Low cost-leadership is pursued by Amazon by differentiating itself primarily on the basis of price. By offering low prices to customers Amazon ensures its future success. Partially modifying the costs of lowering prices over time through achieving higher sales volumes, negotiating better terms with suppliers, and achieving better operating efficiencies. Amazon makes sure that it offers the same quality products as other companies at a considerably cheaper price. Another strategy that Amazon has is its fast delivery service and there are many delivery services that one can choose from. With Amazon Prime, there are certain, but many products that have free two-day shipping. Also, with Amazon Prime, there are many offers specifically for people that have Amazon Prime. For example,
Amazon has recorded a magnificent success in its business throughout the years that it has been in operation. It has attracted almost all people to use it when necessary. Amazon has built its success in business methodically and slowly. Amazon has made much success because of its ability to read market trends and diversify its operations. It started as an online book selling company. However, it changed its operations and started selling other products. Currently, many large retail shops use Amazon to host and power their websites, for instance, sears and virgin megastores. Amazon now attracts over fifty million visitors in a period of one month. Amazon has tried to make their services fit each individual user. It has based its services on the end user. It has shipping discounts, customer product reviews and a credit card with bonuses. It also has prime membership, product forums and 1-click ordering system among other services. The company has tried to make a remarkable experience for customers and visitors (Thomas, 2006).
Amazon.com creates value for its customers by offering customers broad array of products to select from through their website and ensuring timely delivery of products to exhibit high level of commitment towards their business and customers
When was the most recent time you purchased something from the world of Amazon.com? Amazon is a staple provider and supplier for many people around the world, who are able to order a variety of products all in one place. Just this semester, my professor of my photography class assigned us to all order our necessities for our class via Amazon.com because they WILL have everything we need in one website or store. Amazon chooses to make the world their target market, because their goal is to have the biggest selection for every one of their customer. Currently, Amazon sells to 33 countries, including United States, India, South Africa, Germany, and Australia. This paper will detail the mission and history, financial and world sustainability, consumer
Product. Companies that follow this approach try to create a consumer product or service that is supposed to be unique or better than that of the competitor 's. Uniqueness or some upgrades in the product were believed
By using combinations from the above – But this approach has to be made with caution, because confusion can appear in the message.
Another part of Amazon’s retail strategy is to serve as the channel for other retailers to sell their products and take a percentage of cut of every purchase. Amazon does not have to maintain inventory on slower-selling products. This strategy has made Amazon a ‘long tail’ leading retailer, expanding its available selection without a corresponding increase in overhead costs.
How to Position the Product in Relation to Other Products – Where to sell/to whom do you sell? The Right Marketing Mix – Is the product right? , Is it sold in the right market? right places? , At the right price?, Is the product promoted in the right places?
Amazon is an industry leader in terms of innovation, ability to scale its business and in breadth of products offered. Because of
A key part of an organizational strategy is to identify market opportunities by finding a niche or a gap in the marketplace that they can pursue to take their company ahead of all their competitors. An organiz...
As said by Joseph Parilla, a researcher at Brookings Institution, “If it’s good enough for Amazon, a lot of other companies will take notice.” (Steinmetz,
Amazon works with multiple vendors online and provide new and used products for purchase on its online site. A contributing factor to Amazon`s success is its