Project Report on Digital Marketing 1. James Marcus then goes on to give a fascinating insight into a breakout group discussion of how Amazon could better use measures to improve its performance. Discover opportunities for strategic optimization in an industry which has seen year on year growth like no other 2020 was the year of E-commerce. It is deeply integrated into everything we do”. See the original more detailed PDF article on Amazon personalisation / recommendation collaborative filtering system. Their focus on customer experience, "Customer Obsession" as they call it is shown by the way they consistently outperform other retailers in their ACSI customer satisfaction rating too. I started by talking about the E-commerce and a brief history of Amazon. Our Associates program directs customers to our websites by enabling independent websites to make millions of products available to their audiences with fulfillment performed by us or third parties. Introduction Amazon Inc. is a commercial company of American origin that has its principal activities in cloud computing and electronic commerce. E-commerce giants like Amazon uses demographic & psychographic segmentation to segment the markets. In their SEC filings Amazon state that the aims of their communications strategy are (unsurprisingly) to: Amazon also believe that their most effective marketing communications are a consequence of their focus on continuously improving the customer experience. Your materials are helpful and i am grateful that you shared your works with us. In July 2020, Amazon reported a 43.4% increase in North American sales and 33.5% worldwide revenue growth in the second quarter of 2020. Many of these new online companies failed in 1999 and 2000, but Amazon had covered the potential for growth and was not pulled down by these partners, even though for some such as Pets.com it had an investment of 50%. September 27, 2018 By Hitesh Bhasin Tagged With: Marketing strategy articles. Round (2004) describes the technology approach as ‘distributed development and deployment’. Items are discounted to encourage purchases in new categories! Called Prime Air the trial consisted of an electrically powered autonomous drone successfully delivering in just 13 minutes a parcel of popcorn and a Fire TV stick. Jeff Bezos is the founder of Amazon since its establishment in 1994. In addition, we offer everyday free shipping options worldwide and recently announced Amazon.com Prime in the U.S., our first membership program in which members receive free two-day shipping and discounted overnight shipping. Their aggressive strategy of infiltrating warehouses and improving their distribution lines brings Amazon to new areas and customers. Need a plan to create a winning marketing strategy, fast? Marketing Strategies of Amazon Business Model. The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on Amazon. Contents: Project Report on the Introduction to Marketing Project Report on Marketing Organisation […] In the end, we should be measuring customer ecstasy". Amazon have created their own internal experimentation platform called a “Weblab” that they use to evaluate improvements to our websites and products. The itunes store will always be a threat to the amazon store because of Apples devices like the ipad, iphone, and Macbook. The annual filings to give a great summary of eBay business and revenue models. And what a year it's been. Googling http://www.google.com/search?q=www.amazon.com+-site%3Awww.amazon.com for sites that link to the US site, shows over 4 million pages, many of which will be affiliates. There are over 76 million customer accounts, but just 1.3 million active seller customers in it’s marketplaces and Amazon is seeking to increase this. Explore Marketing Projects for MBA PDF, Marketing Projects, Advertising Project Topics or Ideas, Sales Based Research Projects, Latest Synopsis Examples, Samples, Structure Abstract, Base Papers, Source Code, Thesis Ideas, PhD Dissertation for MBA Students, Reports in PDF, DOC and PPT for Final Year MBA, Diploma, BSc, MSc, BTech and MTech Students for the year 2015 and 2016. The impact of this on sales turnover has been very astounding (see table 1). Amazon.com is obsessed with a fervor to serve consumer and shareholder alike. Marketing Project Of Amazon Inc. The precise information in a this document helps in the decision making of a company regarding the marketing performance of the business. Amazon marketing strategy: Business case study, revenue model and culture of customer metrics: History of Amazon.com. More than 50% of the consumers are the repeat buyers at Amazon.com. So the update cycle must be quick to avoid large losses. We continually invest in several areas of technology, including our seller platform; A9.com, our wholly-owned subsidiary focused on search technology on www.A9.com and other Amazon sites; web services; and digital initiatives.’. In its 2017 SEC filing Amazon describes the environment for our products and services as ‘intensely competitive’. Find out their current training needs and how they are being met. Amazon‟ s marketing strate gy remains as strategy brand name, increasing customer traffic, customer lo yalty. Amazon is the world’s largest online retailer and is indeed a pioneer in the online retailing space. The chart below summarizes the M&As of Amazon since 2014. With the rise in per capita income and change in buying patterns, customers are getting more acquainted and are comfortable in buying online. So how do they keep doing it? Though less visible, much of the impact of machine learning will be of this type – quietly but meaningfully improving core operations". Machine learning drives our algorithms for demand forecasting, product search ranking, product and deals recommendations, merchandising placements, fraud detection, translations, and much more. Start by contacting companies. which helped them in providing high value to their customers using existing technology of the acquired partners at low cost. I've highlighted the Amazon marketing strategy case study in my books for nearly 20 years now since I think all types of businesses can learn from their digital business strategy, their response to the pandemic is impressive but not entirely surprising for a brand which is 'customer obsessed'. Since its inception over fifteen years ago, Amazon.com has steadily grown from a burgeoning “dot-com” corporation into a multinational monster, a king in the domain of internet retail. Free members can access our free sample templates here. You earn reputation by trying to do hard things. This project is a combined effort to share what we’ve learned about the Integrated Marketing Communications and how Amazon has implemented it effectively. Amazon defines what it refers to as three consumer sets customers, seller customers and developer customers. In it we look at Amazon's background, revenue model and sources for the latest business results. All we needed were the right equations to plug into them’. Amazon realizes that the most important thing that customers want is the quick delivery of products they order. They have the skills needed to understand the market, create marketing programs that get results, analyze their buyers and how they like to buy, align the entire organization around the right launch strategies, price their products successfully and more. In product fulfilment packs, Amazon may include a leaflet for a non-competing online company such as Figleaves.com (lingerie) or Expedia (travel). Image Source: Amazon Many will start their product searches on Amazon, which means they aren’t going directly to Google as they have in the past.Not only is Amazon an eCommerce giant but also a search engine. Duties of Marketing Managers 7. Marketing Concept versus Selling Concept 6. Introduction to Marketing 2. 11 Becoming a MSP has been a gradual, yet extremely effective strategy. Amazon (2011) states “we direct customers to our websites primarily through a number of targeted online marketing channels, such as our Associates program, sponsored search, portal advertising, email marketing campaigns, and other initiatives”. Key features of our websites include editorial and customer reviews; manufacturer product information; Web pages tailored to individual preferences, such as recommendations and notifications; 1-Click® technology; secure payment systems; image uploads; searching on our websites as well as the Internet; browsing; and the ability to view selected interior pages and citations, and search the entire contents of many of the books we offer with our “Look Inside the Book” and “Search Inside the Book” features. Marcus (2004) also notes that Amazon has a culture of experiments of which A/B tests are key components. You need to know whether you are in the right direction or what tweaks you need to make to get more customers. Amazon.com based in Washington and found by Jeff Bezos in 1994 is global leader in e-commerce and it was the first company to introduce the concept of selling goods on the Internet. Furthermore, the customers might also be the ones who are searching for deals. The Digital Marketing Strategy And Planning toolkit contains: Start your Digital Marketing Plan today with our Free membership. In their 2008 SEC filing, Amazon describe the vision of their business as to: “Relentlessly focus on customer experience by offering our customers low prices, convenience, and a wide selection of merchandise.”. Pages such as the home page have a number of content ‘pods’ or ‘slots’ which call web services for features. Turbocharge your results with this toolkit containing 13 resources. In addition to developing, communicating and delivering a very strong proposition, Amazon has been able to consolidate its strength in different sectors through its partnership arrangements and through using technology to facilitate product promotion and distribution via these partnerships. You may have noticed that unlike some retailers, Amazon displays relevant Google text ads and banner ads from brands. Thus, these local competitors of each country also react strongly to Amazon’s presence. Each week is divided into the different components of the Marketing Strategy: Market Analysis, Marketing Strategy, Marketing Mix Implementation and Expected Results. Amazon’s marketing strategy in beauty industry? The level at which free-shipping is set is critical to profitability and Amazon has changed it as competition has changed and for promotional reasons. In practice, as is the practice for many online retailers, the lowest prices are for the most popular products, with less popular products commanding higher prices and a greater margin for Amazon. Amazon uses a flowable or fluid page design unlike many sites which enables it to make the most of real-estate on-screen. (2004) Amazonia. Round (2004) said that ‘Data is king at Amazon’. Marcus says: ‘Gone were the fuzzy approximations of focus groups, the anecdotal fudging and smoke blowing from the marketing department' - the Amazon marketing strategy was reborn! We have been learning that having a solidified Integrated Marketing Communications with customers is king. Internal and external analysis will be undertaken to determine their marketing strategy, their response to global e-retailing industry. Amazon’s micro-level segmentation targets each customer individually, allowing the company to convert visitors into long-term, high-value customers. This means that Amazon has to constantly test and evolve its features. Employment levels and number of … which have helped the brand grow. The latest report includes a great vision for Digital Agility (reprinted from 1997 in their latest annual report) showing testing of business models that many businesses don't yet have. Whether you make a sale or not is immaterial. Market strategy in overall form entails all the processes and actions tailored to ensure that a firm achieves its marketing objectives. Although marketing expenses do not include the costs of our free shipping or promotional offers, we view such offers as effective marketing tools. This is where Amazon’s extensive distribution system has come into play. These are automated as far as possible as described earlier in the case study. Concept 4. Similarly Amazon targets the middle class & upper class people who have got hands on experience in the basic technology but don’t have time or prefer convenience over shopping from the physical outlets. Some of the more recent applications of AI at Amazon are highly visible, for example, the Amazon Echo assistant and technology in the Amazon Go convenience store that uses machine vision to eliminate checkout lines. GlobalData reports that the company’s emphasis on marketing can be seen in their increased marketing costs in 2009, in comparison with 2008 and 2007 (GlobalData, 2010). Your email address will not be published. Introduction to Marketing 2. It found competition with online so expensive and challenging, that eventually it entered a partnership arrangement where Amazon markets and distributes its books online in return for a commission online. Amazon’s segmentation is based on actual purchase behaviour: not what people might have expressed interest in, but what they actually did. Initially contact some 4-5 companies which are mid sized. Product Marketer. Amazon may be classified as a multi-sided platform or MSP, providing products, services, and technologies that link different types of consumers to each other. ADVERTISEMENTS: A project report on Marketing. "If that goes up, they’re having a blast". Amazon’s robust customer centric approach to analyse the customer buying behaviour based upon preferences has helped them to have competitive edge over their competitors. Search and Upload all types of Marketing Strategy Projects at Management Paradise.com; Online Portals for MBA Students & Professionals. GOT IT I have no idea where to start, and there are too many directions to go in. They go on to explain that business models are tested from a long-term perspective, showing the mindset of CEO Jeff Bezos: We will continue to make investment decisions in light of long-term market leadership considerations rather than short-term profitability considerations or short-term Wall Street reactions. E-books, movies on demand & Amazon prime are practically cash cows giving the maximum margins to Amazon. You will not be clear in your mind unless and until you meet the purchase heads or purchase managers. Amazon now has more than 55 fulfilment centres exceeding 43 million square feet. Marcus, J. This is quite enlightening and useful for our business. Bezos’s view was that it was easy to reach 10 people (you called them on the phone) or the ten million people who bought the most popular products (you placed a superbowl ad), but more difficult to reach those in between. This strategy has allowed Amazon to blend online price with in-store convenience in locations where consumers are already shopping. Such partnerships help Amazon extends its reach into the customer-base of other suppliers, and of course, customers who buy in one category such as books can be encouraged to purchase into other areas such as clothing or electronics. They say: "We work to earn repeat purchases by providing easy-to-use functionality, fast and reliable fulfillment, timely customer service, feature-rich content, and a trusted transaction environment. In developing countries as well as in developed, there are many local portals which give tough competition to Amazon. A good recent example of this is providing the infrastructure to deliver the Kindle “Whispersync” update to ebook readers. Many of the problems we face have no textbook solutions, and so we — happily — invent new approaches”… All the effort we put into technology might not matter that much if we kept technology off to the side in some sort of R&D department, but we don’t take that approach. Amazon.com: marketing strategy. “From A to Z” globally. He described how every category VP wanted top-center and how the Friday meetings about placements for next week were getting ‘too long, too loud, and lacked performance data’. Statistical tests are a challenge though as distributions are not normal (they have a large mass at zero for example of no purchase) There are other challenges since multiple A/B tests are running every day and A/B tests may overlap and so conflict. Five years at the epicentre of the dot-com juggernaut, The New Press, New York, NY. Strategies 8. In fact, Amazon was a book store before it started electronics. They say: “while costs associated with free shipping are not included in marketing expense, we view free shipping offers and Amazon Prime as effective worldwide marketing tools, and intend to continue offering them indefinitely”. As well as this Marcus (2004) describes how Amazon used the personalisation enabled through technology to reach out to a difficult to reach market which Bezos originally called ‘the hard middle’. So there are now to new version, customers who shopped for X also shopped for… and Customers who searched for X also bought… They also have a system codenamed ‘Goldbox’ which is a cross-sell and awareness raising tool. Please connect on LinkedIn to receive updates or ask me a question. Technology also supports more standard e-retail facilities. Marcus was in the Bezos group, brainstorming customer-centric metrics. “Lot of folks are still accessing the web with those creepy-crawly modems. Operational marketing of ‘Amazon’: Search Engine Optimization Search Engine Marketing Email Marketing Content Marketing Affiliate Marketing Social Apps Development 10. With the adaptation of technology in the developing economies customers are now becoming more comfortable with online shopping. Although counter intuitive to believe that something as simple as an internal press release and a six-page memo can be considered primary among the keys to Amazon… Image Source: Amazon Many will start their product searches on Amazon, which means they aren’t going directly to Google as they have in the past.Not only is Amazon an eCommerce giant but also a search engine. He gave many examples of data driven automation including customer channel preferences; managing the way content is displayed to different user types such as new releases and top-sellers, merchandising and recommendation (showing related products and promotions) and also advertising through paid search (automatic ad generation and bidding). Amazon has developed an extensive global distribution network that continues to grow at frenzied rate. These systems allow the customer to choose whether to receive single or several shipments based on availability and to track the progress of each order. Number of followers: 1.7 million. Amazon Marketing Strategy Recommendation Report 21 Downloads 6 Pages / 1,275 Words Add in library Click this icon and make it bookmark in your library to refer it later. Automatically optimizes content to improve customer experience, Avoids sending an e-mail campaign that has low clickthrough or high unsubscribe rate, Includes inbox management (avoid sending multiple emails/week), Has growing library of automated email programs covering new releases and recommendations, Increase customer traffic to our websites, Create awareness of our products and services, Develop incremental product and service revenue opportunities. Short listing the competitors of Amazon depends on what business sector of Amazon is being considered. Strategy of promotion”: 9. Marketing mix – Click here to read the Marketing mix of Amazon, SWOT analysis – Click here to read the SWOT analysis of Amazon, Mission – “To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavours to offer its customers the lowest possible prices,”, Vision- “To leverage technology and the expertise of our invaluable employees to provide our customers with the best shopping experience on the internet”. He explained how Amazon used to have a lot of arguments about which content and promotion should go on the all important home page or category pages. Amazon Prime, an annual membership program that includes unlimited free shipping and then involved diversification to a media service with access to unlimited instant streaming of thousands of movies and TV episodes. Members are also encouraged to join a loyalty programme, Amazon Prime, a fee-based membership program in which members receive free or discounted express shipping, in the United States, the United Kingdom, Germany and Japan. 33 This article will discuss various ways Amazon has been successful and responded to challenges in their leadership in the online retailing sector. In time, the work of editorial reviewers such as Marcus was marginalised since Amazon found that the majority of visitors used the search tools rather than read editorial and they responded to the personalised recommendations as the matching technology improved (Marcus likens early recommendations techniques to ‘going shopping with the village idiot’). Marketing Organisation 3. Analysts sometimes refer to ‘Amazoning a sector’ meaning that one company becomes dominant in an online sector such as book retail such that it becomes very difficult for others to achieve market share. ‘At Amazon, we will have a Culture of Metrics’, he said while addressing his senior staff. Further more, Amazon is one of the longest players to be present in the online sector and has a solid hold in European countries and US. Customers Who Bought X…, also bought Y is Amazon’s signature feature. 20 years later, Amazon are still customer-centric, in fact, in the latest Amazon Annual report, Jeff Bezos of Amazon explains what he calls True Customer Obsession : "There are many ways to center a business. Get started today using a tried and tested step-by-step process, Digital marketing strategy and planning Toolkit, Explore our Digital Marketing Strategy and Planning Toolkit, Digital Marketing Strategy and Planning Toolkit, Digital Experience Management (Desktop/mobile website), 33.5% worldwide revenue growth in the second quarter of 2020, Amazon personalisation / recommendation collaborative filtering system, Digital marketing and E-commerce books and support materials including a digital marketing glossary, Please connect on LinkedIn to receive updates or ask me a question, Smart Insights (Marketing Intelligence) Ltd. 1) online, offline, and multichannel retailers, publishers, vendors, distributors, manufacturers, and producers of the products we offer and sell to consumers and businesses; (2) publishers, producers, and distributors of physical, digital, and interactive media of all types and all distribution channels; (3) web search engines, comparison shopping websites, social networks, web portals, and other online and app-based means of discovering, using, or acquiring goods and services, either directly or in collaboration with other retailers; (4) companies that provide e-commerce services, including website development, advertising, fulfillment, customer service, and payment processing; (5) companies that provide fulfillment and logistics services for themselves or for third parties, whether online or offline; (6) companies that provide information technology services or products, including on- premises or cloud-based infrastructure and other services; and. Apple would be the largest competitor when considering book or content related delivery such as books, movies, magazines, and audiobooks. Strategy of promotion”: 9. Marketing Strategies of Amazon.com. The campaign calendar used to be manually managed with relatively weak measurement and it was costly to schedule and use. What would you think would be most important to consider when I am marketing for an executive coaching company. If you want to develop a strategy, where do you start? A similar partnership approach is the Amazon ‘[email protected]’ program which enables third party merchants (typically larger than those who sell via the Amazon Marketplace) to sell their products via Amazon. Amazon enhanced its original strategy of selling books online by diversifying into many other business segments. Amazon’s segmentation is based on actual purchase behaviour: not what people might have expressed interest in, but what they actually did. I aim to keep this case study up-to-date for readers of the books and Smart Insights readers who may be interested. 1 A Project Report On Building Digital Marketing & SEO Strategy By Dipty Mishra MBA III semester FMS-WISDOM Banasthali University Submitted To: Mrs. Shikha Jamawal Submitted To: Dr. BalGopal Singh CEO & Co-Founder Assistant Professor Lets Run Digital Banasthali University Gurugram Jaipur, Rajasthan In return, Amazon leaflets may be included in customer communications from the partner brands. Environment 5. In this statement they also highlight the importance of customer loyalty tools. “A brand for a company is like a reputation for a person. Functions 9. Support Activities: HRM: Amazon has a workforce of 566000 part time and fully time employees as of December 2017. In 2017, its expenditure in marketing efforts was higher than 10 Billion dollars. On the other hand market segmentation is a subset of a market strategy. Marcus (2004) describes how Amazon partnered with Drugstore.com (pharmacy), Living.com (furniture), Pets.com (pet supplies), Wineshopper.com (wines), HomeGrocer.com (groceries), Sothebys.com (auctions) and Kozmo.com (urban home delivery). Operational marketing of ‘Amazon’: Search Engine Optimization Search Engine Marketing Email Marketing Content Marketing Affiliate Marketing Social Apps Development 10. What can we learn from studying Amazon's marketing strategy? The search facilities in the search engine and on the Amazon site, together with its product recommendation features meant that Amazon could connect its products with the interests of these people. Essay. ManagementParadise.com - India’s largest MBA Marketing Projects Reports for Students and Professionals. To analyse the company I used PESTLE and SWOT analysis. Here is the Marketing strategy of Flipkart analysing its BCG, SWOT, Competitive analysis. As Amazon explains in SEC (2005) ‘using primarily our own proprietary technologies, as well as technology licensed from third parties, we have implemented numerous features and functionality that simplify and improve the customer shopping experience, enable third parties to sell on our platform, and facilitate our fulfillment and customer service operations. Kindle, VOD (Video on demand) & Amazon web services are question marks because with the advent of technology these services have become obsolete & have low demand. Visit the managers and receive their feedback. This project is a combined effort to share what we’ve learned about the Integrated Marketing Communications and how Amazon has implemented it effectively. Round (2004) describes how Amazon relies on acquiring and then crunching a massive amount of data. This report examines the value chain and opportunities in the delivery drones market. Then I moved on to the strategic thinking of the founder of Amazon, Jeff Bezos, and the strategies he used to make Amazon so successful and the strategy implementation. Examples where A/B tests are used include new home page design, moving features around the page, different algorithms for recommendations, changing search relevance rankings. An Amazon marketing strategy is key for any brand selling a product at this point. Now many companies use AB testing, but this shows the scale of testing at Amazon. Another key aspect of Amazon.com’s marketing strategy is their established strategic relationships with various traditional retailers. Finally, Amazon marketing strategy has also facilitated formation of partnerships with smaller companies through its affiliates programme. We will continue to learn from both our successes and our failures". Amazon's Secret Sauce. With more than 55% repeat buyers, the numbers tells everything about the brand. "I think we need to consider frequency of visits, too", said a dark-haired woman I didn’t recognise. Amazon also finds that as its users evolve in their online experience the way they act online has changed. Keep this case study the different between market strategy in general businesses which are cash cows giving the margins! New features will usually be launched if the desired metrics are project report on marketing strategy of amazon significantly better users evolve in prosperity. In 2011 that Amazon.com is now selling more Kindle books than paperback books Amazon has a workforce of 566000 time! Customers might also be the largest traditional bookstores will have a similar arrangement tailored. The first two quarters of 2017 alone, the customers changing needs & wants integrated. That Amazon has been harnessing aggressively its merger and acquisition strategy the home page have a Culture of ’! A new system: but there are too successful if inventory isn ’ available. 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