Marketing Condition and Strategy of Amazon †MyAssignmenthelp.com

Question: Discuss about the Marketing Condition and Strategy of Amazon. Answer: Introduction Every company has their own share of strategies they use in order to get a stable grip on the market. They study the customer behavior and also make up further strategies to retain their position in the market. The following passages discusses about Amazon, through a comprehensive description, market condition, customer demand conditions, and competitors. Comprehensive Description Amazon is a company founded in 1994 by Jeff Bezoz. The company is based in Seattle, Washington. Amazon is the largest retailer who bases their business through internet. Their yearly sales and market value put them in the leading position in the world market. The company started out as an online book store but then they expanded to selling CDs, DVDs, Blu-rays, audio books, video games, food, apparel, furniture, toys, jewelry and other variety of things ("Company Profile for ${Instrument_CompanyName}", 2017). A key feature of the company is that they have segregated websites for different countries, such as United States, United Kingdom, China, Mexico, France, India, etc. Amazon has taken over most of its contemporary brands in term of success and has become the fourth in list of companies most valuable to public. The rate of employment from Amazon alone made it the eighth largest in the United States. Market Conditions The company offers services like digital content subscription, advertising, etc. Amazon mainly delivers through the websites and the main focus is kept on convenience and pricing. They allow third party sellers to collaborate and sell via their website and display over a million products for their customers to choose from. They have website as well s app access for customers who help the customers carry out easy browsing and buying. There are lucrative coupons and seasonal discounts and offers which keep the customers hooked. The company also provides different opportunities to the sellers who sell through the website so that they can expand their businesses too. For the Amazon Kindle app, the company allows writers and independent publishers to avail options that allow them to publish their work through kindle (Bhasin, 2017). Amazon has been successful in placing itself as the topmost in the list of e-commerce giants. Amazon makes sure that if a customer buys something and wants it delivered, he gets it done even if it is at some remote corner. That keeps Amazon at a very high standard when it comes to customers choice. The company has over the years gripped the market very well and has climbed the ladder of success. They have innovative branding strategies such as catch phrases and advertisements. For instance in India, they used a campaign #aurdikhao to promote the varied range of products they showcase online (Weinstein Cahill, 2014). The company takes note of customer behavior more than anything. Not the wishlist, but the products purchased are what the company focuses on in order to understand customer demands. They take care of each customer needs and cater to them well, which allows them to have long term customers instead of visitors who browse past their webpage. The target of the company is the middle class people of the society, who lack the time to go to stores physically and buy products. So this chunk of people is most benefitted from online shopping sites. Customer Demand Conditions Every company has to gain the trust of the customers in order to become a name in the global market. For every company there are various kinds of customers who engage in buying products from them. Companies ensure occasional surveys to understand the kind of customers they have, upon which they can improvise and provide better. If surveys are to be believed, then, around 59% of Amazon customers read the product descriptions before investing in them. Some 58% check third party seller products when they are purchasing. More than 90% go by product ratings given by other customers. 41% almost use mobiles or tablets to access the site, while some 55% and more use desktops to purchase. So it is evident that the company has to make strategies that will cater equally well to all kinds of customer demands (How Consumers Use Amazon: Device, 2017). Competitors Amazon has several competitors in the market when it comes to products and services. Some of the staple competitors are Walmart, Ebay, Alibaba Group, BestBuy, Flipkart, etc ( Haucap Heimeshoff, 2014). All these e-commerce sites target to understand and hit the market the same way. Different countries have different demands for different online sites. In some countries it could be Ebay that is a major rival, while in some it could be Walmart. In some other country, it could be Flipkart ("Who are Amazon's (AMZN) main competitors?", 2017). Conclusion So it can be concluded from the above paragraphs that Amazon takes care of the customers need by following surveys and introduces offers to keep the customers hooked. The company also tries to innovate constantly to keep up with customer demands and contemporaries working on same strategies to take over the market. References Bhasin, H. (2017). Marketing strategy of Amazon - Amazon marketing strategy. Marketing91. Retrieved 31 July 2017, from https://www.marketing91.com/marketing-strategy-of-amazon/ Company Profile for ${Instrument_CompanyName}. (2017). Reuters India. Retrieved 31 July 2017, from https://in.reuters.com/finance/stocks/companyProfile?symbol=AMZN.O Haucap, J., Heimeshoff, U. (2014). Google, Facebook, Amazon, eBay: Is the Internet driving competition or market monopolization?. International Economics and Economic Policy, 11(1-2), 49-61. How Consumers Use Amazon: Device, a. (2017). How Consumers Use Amazon: Device, Search, and Purchase Trends. MarketingProfs. Retrieved 31 July 2017, from https://www.marketingprofs.com/charts/2016/31083/how-consumers-use-amazon-device-search-and-purchase-trends Weinstein, A., Cahill, D. J. (2014). Lifestyle market segmentation. Routledge. Who are Amazon's (AMZN) main competitors?. (2017). Investopedia. Retrieved 31 July 2017, from https://www.investopedia.com/ask/answers/120314/who-are-amazons-amzn-main-competitors.asp