Report Sample on Amazon: From 'Get Big Fast' to Global Retail Giant

Introduction

Amazon is an online retail company that deals in various products ranging from electronics, beauty products, jewelry, and kitchen goods, among others (Garner, 2018). It was founded by Jeff Bezos in 1995 and has continuously grown to be one of the biggest companies in the world today (Garner, 2018). At its inception, the slogan of the company was ‘get big fast’, through various marketing strategies, the company has progressively increased in size over the years (Garner, 2018). One year after its birth, the company was operating in all the states and delivered their products to over forty countries worldwide (Garner, 2018). The constant growth of the company has made it a leader in the modern retail business. It began by selling books only but now deals with various products that satisfy consumer needs (Garner, 2018).

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The company's growth is because of the excellent customer experience offered, which helps the firm expand through services such as subscription-based premiums (Garner, 2018). The main competitor for the company is Walmart, which was the most preferred by a large population. Through strategies such as increasing their product line, Amazon grew substantially and competed with Walmart (Garner, 2018). The company's product line and services include Amazon devices such as Amazon Prime, prime video, and music, which has ensured the company grows successful and stays ahead of its competitors (Garner, 2018). The facility provides customers with assured delivery of goods within two days of the purchase date at low prices and offers a wide range of goods to carter to the client's needs (Garner, 2018). Another achievement by the institution is expanding worldwide and delivering products that suit the customer needs, given the changes in culture and preference (Garner, 2018).

Vision and Mission

The company sets its sight on being the leader in providing customer-tailored products where clients find the products they require (Shaji, 2020). Sticking to its vision enables the firm to continually deliver high-quality goods and services to its clients (Shaji, 2020). The corporation's mission is always to increase the consumer's experience and satisfaction with the use of the internet and the current technology (Shaji, 2020). The business's commitment to its mission empowers the organization to be a leader in the delivery of products and ensures the company is successful over the years.

Marketing Objectives

The company's marketing objectives include the provision of a wide range of products to facilitate the different consumer desires while using a friendly technological interface that is easy for clients to navigate and provides recommendations (Izogo & Ozo, 2015). The interface helps in improving the buyer's experience, thus, retains and attracts new clients. The firm also aims to exploits affiliate products and resources which support its progressive growth every year.

Marketing Strategies

There are several marketing strategies that the company adopts to facilitate the growing number of capabilities. One of the facility's tactics is the optimization of the product listing (Kannan, 2017). It is a feature that allows clients to find the products they require quickly. Research shows that over 70% of clients visit the firm's website for new product ideas (Kannan, 2017). The company has created a reliable search engine with unpredictable updates and facilitates easy navigation of its goods and services. The facility seeks to enhance its website's access based on the user's relevance, sales, and discoverability (Kannan, 2017).

The enterprise is keen on the reviews from its products to keep the rate of customer satisfaction high (Kannan, 2017). When goods have low ratings, their purchase will be low, thus, the facility seeks to improve the quality of the products to enhance the customer experience (Kannan, 2017). The company conducted a survey where 90% of their customers said they would not buy goods that have a lower than three percent (Kannan, 2017). Another strategy is direct marketing, where shoppers purchase from the facility (Kannan, 2017). It is a traditional way that the company allows consumers who prefer this method to use. It is critical as it creates customer loyalty and enables the client to check a product before purchasing it physically.

Conclusion

Thus, the firm's tactic is advertisement through the Amazon marketing services that are in various forms (Kannan, 2017). The ads are visible on the website, and the seller's payment is after the shopper click on the ad. The various forms include the product display, which shows adverts on the website's side or bottom (Kannan, 2017). The sponsored product ads appear on the goods' pages before their description (Kannan, 2017). It enables the shoppers to click on the ad, which will take them to the products page. Another method of advertisement is the headline search ads that appear at the top of the website and includes a customized copy and takes the shopper to the brand page for customization (Kannan, 2017).

References

Garner, A. (2018). Amazon in the Global Market. Journal of Marketing & Management, 9(2).
https://www.questia.com/library/journal/1P4-2183484898/amazon-in-the-global-market

Izogo, E., & Ozo, U. (2015). Critical Evaluation of how Well Placed Amazon is to Sustain its Historical Online Retailing. British Journal of Marketing Studies, 3(6), 31-42
http://www.eajournals.org/wp-content/uploads/Critical-Evaluation-Of-How-Well-Placed-Amazon-Is-To-Sustain-Its-Historical-In-Online-Retailing.pdf

Kannan, P. K. (2017). Digital Marketing: A Framework, Review and Research Agenda. International Journal of Research in Marketing, 34(1), 22-45.
https://www.researchgate.net/publication/311393872_Digital_marketing_A_framework_review_and_research_agenda

Onyusheva, I., & Seenalasataporn, T. (2018). Strategic Analysis of Global E-Commerce and Diversification Technology: The Case of Amazon. Com INC. The EUrASEANs: journal on global socio-economic dynamics, (1 (8), 48-63.
https://euraseans.com/index.php/journal/article/view/81

Shaji, E. (2020). Perceived Value on Customer Centric Innovations of Amazon. Com. Tathapi with ISSN 2320-0693 is an UGC CARE Journal, 19(8), 544-555.
https://www.smartinsights.com/digital-marketing-strategy/online-business-revenue-models/amazon-case-study/.