Analysis of AMAZON R1511D1145675
University of South Wales
Master’s in Business Administration (MBA)
Strategic Marketing
(MK4S34-V1)
Tutor: Sotera Moyseos
Student Number: R1511D1145675
Date: March 31, 2019
Assessment 1
Case Study
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Task:
“The best marketing strategies aren’t top down, they’re outside in, starting with the customers’
needs and wants.”
Critically analyse this statement using Amazon as your case study organisation. You should aim
to show whether customer voice drives strategic marketing decisions in this organisation making
reference to relevant academic literature in the process.
Introduction - Brief History of Amazon
According to History.com (nd), Amazon officially opened for business as an online book seller
in 1995 by founder Jeff Bezo. In less than two decades, Amazon became the largest online
retailer in the world to offer Earth’s Biggest Selection of products (Amazon, 2018). Amazon is
the second largest e-commerce company in the world after Google; it further states that the
company has employed more than 500,000 people worldwide and has attracted an average of 2
million sellers on its platform (Amazon, 2018). The company has focused its business strategy
on cost leadership and diversification. Amazon’s competitive advantage lies in the adherence of
four principles; customer obsession rather than competitor focus, passion for invention,
commitment to operational excellence and long – term thinking (Amazon, 2018).
Strategic Marketing and its importance
The heart of any business success lies in its marketing or more specifically, its marketing
strategy. Marketing is about identifying and meeting human and social needs (Kotler & Keller,
2012), it’s the science and art of exploring, creating, and delivering value to satisfy the needs of a
target market at a profit (Kotler, nd) as cited in Cohen (2011). The development of a
comprehensive strategic marketing plan is imperative to any business, and serves as a guide for
present and future goals.
Strategic Marketing as defined by Lambin (1977) as cited in (Mongay, 2006), states that “The
role of Strategic Marketing is to lead the firm towards attractive economic opportunities, that is,
opportunities that are adapted to its resources and know-how and offer a potential for growth and
profitability”. When properly implemented, a good marketing strategy can provide an
organization with the edge needed to gain a competitive advantage. It is a tool which helps a
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business to discover the areas affected by organizational growth and thereby assist in the creation
of a comprehensive marketing plan to cater to the needs and wants of its customers.
Amazon has been a major player in the e-commerce business industry for many years and
continues to expand its reach across the globe. Shopping from the comfort of your home has
become such a norm, that major retail stores are filing bankruptcy, and online shopping may be a
contributing factor to some of these closures. Amazon has focused its marketing strategies on
some key pillars, these includes; offering the widest range of products, using a customer-friendly
interface, scaling easily from small to large, exploiting affiliate products and resources, using
existing communication systems and utilizing behaviours and mentalities (Dudouskiy, 2018).
The proper execution of the company’s’ marketing strategies will determine the future success of
Amazon, but more importantly it should aim to ensure that customers’ needs are met.
In order for any marketing strategy to be successful, a comprehensive strategic marketing plan is
required; see Appendix A for an overview of the strategic marketing plan and the strategic
marketing planning process.
Amazon Business Model
Amazon’s mission is to be able offer the Earth’s Biggest Selection and to be Earth’s most
customer-centric company (Chaffey, 2018). The company continuously boasts of its customer
obsession approach, where the focus of its business model is on satisfying its customers
(Amazon, 2017). Amazon’s business model is mainly based on its online store, however; the
company also generates billions of dollars from its physical store (Cuofano, 2018). The
company’s subscription based business model, Amazon Prime, plays a significant role in
Amazon’s overall business model. This feature encourages its customers to spend more on the
premise of receiving discounts and faster processing time for shipping which results in repeat
and loyal customers (Cuofano, 2018). In addition to selling direct to its customers, Amazon
allows other retailers to sell their products on its platform (Investopedia, 2019). The company
benefits from this arrangement through commission on sales from the retailers (Investopedia,
2019). Businesses are also given the opportunity to advertise on the Amazon website and can
expect to boost sales from one of the most visited webpage (Juneja, nd). Amazon’s revenue
business model is dynamic and has been continuously venturing into new areas with the aim of
satisfying the needs and wants of its customers.
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Source: FourWeekMBA.com
Amazon’s Marketing Strategic Analysis
The focus of this strategic marketing report is to ascertain whether “the best marketing strategies
aren’t top down; they’re outside in, starting with the customers’ needs and wants”. At this
juncture, an analysis of Amazon’s internal and external marketing strategies will be conducted
with a focus on how the company reacts to customers’ voice in order to satisfy their wants and
needs.
Amazon’s Internal Marketing Strategy
Many companies are becoming aware of the importance of customer orientation (Kaushik,
2013). In order to become customer oriented, companies must engage its employees in the
effective marketing process so that customer requirements are better understood and satisfied.
This top down approach of promoting the company’s products and services to its employees is
referred to as internal marketing. This strategy is executed to staff members through capacity
building; effective communication as well as integrations that will help staff members better
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understand the overall marketing approach and structure of the organization. If this strategy is to
be a success, Walter et al (1994) argues that top level management must first embrace it.
Internal marketing is a key factor in Amazon’s customer centric strategy which played a
significant role in improving customer service, building customer loyalty, and gaining a
competitor advantage. It was debuted that Amazon’s competitors have long been obsessed with a
tightly designed ecosystem of nested applications and services, while the company’s emphasis
was on platforms that serve their customers in the best way as possible. This is an indication that
having an understanding of customers’ expectations is as important as understanding the
company’s objectives, therefore all employees including management should understand this
principle. Amazon’s CEO Jeff Bezos, in one of his many speeches indicated how the company’s
high level managers adopted this approach and reiterated how the company’s strategy is firmly
customer centered. Jeff Bezos (2017) stated “Our customers are loyal to us right until the second
somebody offers them a better service”. Walter et al (1994) stated that “Internal marketing is the
key to superior service and the result is external marketing success”. For the company to
improve customer services and excel in external marketing, Amazon made it crucial that all
employees understand customers’ expectations.
Amazon 4Ps Marketing Mix Strategy
Borden (1965) claims to be the first to have used the term “marketing mix” and that it was
suggested to him by Culliton’s (1948) description of a business executive as “mixer of
ingredients” as cited in Chai Lee Goi (2009). Amazon’s marketing mix ingredients of strategy
and tactics includes the 4Ps of Price, Product, Place and most importantly People. However,
Amazon targets its online market focusing on place and price as its major selling points
(Ferguson, 2017). Amazon’s marketing mission is 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” (Bhasin, 2017). The focus of this
report is on Amazon’s customers’ wants and needs; every aspect of the 4Ps marketing mix which
is utilized by Amazon is geared towards satisfying their customers (People). For the purpose of
this report focus will be placed on Price and Place and a review of its Products.
Price
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This approach is based on attaching prices to products that will attract customers. As the value
placed on the product devalues, tactics like discounts, allowances, payment period and credit
terms are provided to customers (Bennett & Coleman, 2018).
Amazon uses the same Price Strategy to attract customers (People) for its diversified products
that are available on the company’s website. The pricing strategies utilized by Amazon are price
discrimination, market-oriented pricing and valued-based pricing. The market-oriented pricing is
based on analysing prices of its competitors in order to offer its customers the most affordable
prices.
In some cases, Amazon sets the price based on the market, having different prices for the same
product (price discrimination). Amazon’s prices for some products are different between the
USA and UK (Ferguson, 2017). This strategy makes provision for price adjustments based on the
market condition but is complemented by the value – based pricing strategy which considers the
product value and market preferences.
This marketing strategy reflects the flexibility of the price adjustment to market prices, which
allows the company to attract more customers (People).
Place
Location is a very important aspect of the marketing mix. However, Amazon is mostly an online
retail business and primarily uses its e-commerce website and Amazon Books to reach its
customers (People). However, starting from 2005 (Dudovskiy, 2018), the company listened to
the voices of its customer’s preferences and opened physical bookstores in some locations that
allow customers to want to assess their books before a purchase.
According to Dudovskiy (2018), Amazon also implemented an alternative store format which is
targeted at college students, giving them a cost effective option for shopping with a centralized
pick –up location which reduces shipping expenses. Students order textbooks and dorm
furnishings online and come to these centralized stores to pick them up (Dudovskiy, 2018).
Another example of Amazon putting measures in place to satisfy its customers (People) wants
and needs.
Products
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The products a company provides to its customers will determine its future success, and should
focus on the market needs. Amazon’s Products mix strategy emphasizes the number of product
lines that the company offers. Companies using the product marketing mix strategy consider its
tools like variety, quality, features, brand name, design, services, packaging etc.
Amazon’s products are divided into four categories; these are Amazon Websites, Electronic
Devices, Amazon Web Services (AWS) and Media Content (Dudovskiy, 2018). This wide range
of products and services supports the company’s vision of becoming more customer-centric since
product diversification may bring customer satisfaction once their needs are met.
Amazon Segmentation, Targeting and Positioning
In order for businesses to survive, they must implement strategies such as market segmentation,
targeting and positioning to gain a competitive advantage while satisfying customer needs.
Amazon’s segmentation, targeting and positioning involves a set of activities which us aimed at
determining specific groups of people and developing products and services at attract this group
(Dudovskiy, 2018).
Many businesses may not be able to satisfy all its customers at the same time, hence the reason
for the target marketing approach which is focused on customers’ needs and wants.
Segmentation
“Organisations have to focus on their customers and commit themselves to identify and relate
themselves to their customers’ needs” (Zamin, 2014). This key principle is common to
successful marketing, where companies compete to retain existing customers and capture
untouched market shares. In marketing, the customers sharing the same characteristics are
referred to as “Market Segment” (Dibb et al. 2012.p.212).
Segmentation is a marketing strategy which divides the population in groups (Dudovskiy, 2018)
according to specific characteristics in order to better understand their wants to be able to cater to
them. Segmenting groups are based on geography, demography, customer behaviour etc. Once
customers are identified and grouped, the relevant products and services are provided to each
segment in an effort to satisfy the customers’ wants and needs.
Amazon’s segmented group are internet users who want to shop online.
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Targeting
Following the market segmentation stage, the other stage in the marketing strategy is targeting.
This occurs once management has identified a segment that they want to sell their products and
services to (Doyle and stern, 2006). This strategy analyses the consumers spending capability
and the company’s ability to satisfy their wants and needs. According to John (2017),
implementing a target strategy refers to concentrating the company’s sales and marketing efforts
on a given segment and that “Customers should be given a product that is relevant otherwise
they will not buy it”.
Business must also be mindful of this approach, as segmentation is viewed as a discriminatory
practice which disregards other customers who don’t fall under a particular segment, which
would result in a loss of business opportunity.
Amazon, as a global e-commerce company, has been targeting individual customers where its
micro level segmentation has been grounded on their purchase behaviour. Amazon target groups
are users relying on internet for shopping and other transactions from middle and upper middle
class.
Positioning
Once a company has identified its target segments, the next stage is to position its products and
services relative to other products on the market. According Amin (2017), positioning is a
comparative way “a consumer looks at the product and the other competing products available
in the market”.
Amazon positions itself on price since it’s targeting a wide range of customers who can
otherwise go for offline retailers. In order to set out its difference, Amazon has initiated specific
e-commerce websites for each country and opened some customer centres that receive customers
in their native language and with customer representatives that understand the needs of
customers.
Amazon is positioned as a global online market place which facilitates shopping through a
customized user shopping experience.
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In order for Amazon to implement its target market strategy successfully, the company must
conduct a SWOT analysis taking into account all external factors. See Appendix B for a review
of Amazon’s SWOT analysis.
Types of Marketing Strategies
There is a wide range of marketing strategies, but for the purpose of this research paper, focus
will be placed on the town-down, bottom-up, outside –in and inside-out approach.
Outside-in Approach to Amazon’s Marketing Strategy
Speaking at a shareholders meeting, founder of Amazon Jeff Bezos stated “I’m talking about
customer obsession rather than competitor obsession, eagerness to invent and pioneer,
willingness to fail, the patience to think long-term, and the taking of professional pride in
operational excellence” (Circei, 2016). This statement is a clear indication that the outside-in
approach is ideal and is being practiced by Amazon. Short sighted companies who don’t listen to
their customer’s wants and needs are destined to fail. Amazon has set a new standard for the
Outside -in marketing strategy. According to (Brandsmatters, 2010), the company started an
online bookstore, and built a strong brand around that. It further stated that the company put
themselves in the shoes of its customers and asked what else their customer base wanted. This
approach allowed Amazon to expand into the Kindle, then the Cloud computing, web services
for their channel partners, and massive online retaining of a range of products outside of their
initial offering. Amazon’s customer centric approach has benefited the company and they
continue the offer the best products and services to their customers, the top down approach will
not fit into Amazon’s customer focused approach, catering to their wants and needs.
Recommendations
Apart from the above discussed strategies and tactics, some of other factors that lead to
Amazon’s success include Amazon Goes Live which eased the subscription to their platform;
influence program ; stores; the new refund policy, the EBC video beta, headline search ads,
premium for vendors and prime subscription for customers. Amazon is advised to keep
innovating in the strategies that worked and remain customer-centric.
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In the upcoming period, the Blue Apron and drone delivery is believed to contribute to
Amazon’s customer services (Johnson, 2017). This is expected to attract new customers,
strengthen its loyalties and boost its sales to eventually maintain its position on the global
market.
While the 4Ps marketing strategy is becoming more popular in today’s business, all firms also
want to be customer-oriented like Amazon. This requires Amazon to keep its relevancy rather
than focusing on its reaches. To do so, the company will need to optimize some core elements
and principles of marketing mix such as preferences, efficient programmatic, Pervasiveness and
Post-impression activity.
Customer preferences matter in the current modern marketing practices because what interests
the customers has a significant impact on their attitude and activities. It’s only when the
company understands its customers’ preferences that it will be able to remain relevant in its
marketing strategy. For example if a given customer prefers purchasing online rather than
visiting stores or night transactions over day transactions, email communications over watching
videos, etc., then the company dataset should be enough customized to allow better
communication with this customer, especially paying attention on the right way, time and
purchase method. While focusing on customers preferences will help the company to remain
relevant, proper programmatic will ensure efficiency.
As mentioned above, programmatic indicates how relevancy can be achieved in a cost-effective
manner. Customizing services according to customers preferences to deliver individual
campaigns, would be both time-consuming and expensive, thus recourse to programmatic
technologies in order to be able to pursue a one-to-one customer relationship on large scale.
Therefore, Amazon needs to focus on collecting and combining their customers’ data for
efficient advertising that both increases their customers’ ad experience and shows
products/services that really interest them.
On the other hand, pervasiveness would help Amazon better speak to its customers and deliver
the right message to the right customers when and where it will be most efficient. This refers to
reaching customers through whichever media and keeping constant interaction with them based
on their preferences.
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Finally, continued market research will inform Amazon about its ultimate results in order to
remain very relevant. Within this industry which relies more and more on real-time technology
and data-driven solutions, a mnemonic device will be necessary to assess whether a marketing
strategy is truly taking advantage of digital capabilities and creating relevant campaigns for
consumers.
Conclusion
Amazon started as a small online retailer for books, facing a lot of market challenges that led to
its occasional loses. Being driven by long term customer centric strategy which continued to gain
importance in its marketing field, the company has become a giant in the industry. This strategy
has helped the company to face different threats, competitors, cut off its costs and achieve
profitability. The main key factor to this success is providing customers with superior value and
shopping experience, until starting some physical outlets in different locations, introducing better
software and storage facilities.
Appendices
Appendix A
Strategic Marketing Plan
Many companies design their strategic marketing plan to achieve its goals and objectives. These
plans are usually short, medium and long-term based on the size of the company. It is imperative
that the company is specific in its mission’s goals, since it is fundamental that the mission
represents operative functions in which the company is going to perform in the market and
supply to its customers.
In order to improve efficiency, a strategic marketing plan is essential as a guide and also to
describe a specific set of results which is needed to achieve the desired goals. The strategic
marketing plan involves the collection and analysis of data that, once integrated, supports the
attainment of the company’s long-term marketing goals (Ali, 2018). Similar to a corporate
strategy, the strategic marketing plan should consider changes that may occur on the market and
include flexibility in the plan accordingly. This marketing tool guide assists managers to decide
where the company wants to go, provide an in-depth understanding of its target markets, and
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customers and also focus on the most important factors (Ali, 2018). Amazon’s strategic
marketing plan, which focuses on offering customer services with personalized products to its
customers, reflects the outside-in approach of putting customers wants first.
Strategic Marketing Planning
In today’s business environment, strategic planning is not just an idea, it defines a way to build a
brand, customer loyalty, produce and grow long-term revenues which enables an organization to
achieve its goals and objectives. Strategic planning is the process of developing and maintaining
a strategic fit between the organization’s goals and capabilities and its changing marketing
opportunities (Armstrong & Kotler, 2010). It includes a company’s direction allowing it to
acquire competitive advantage over the long-term. Johnson et Al (2008) argue that this
contingency plan should be able to “configure resources and skills to meet the expectations of
stakeholders” even in the face of changing business environments. With measurable goals and a
sense of direction, the strategic planning process is imperative to the organization because it
provides the day to day guidance in decision making and also helps to progress as well as serve
as a point of reference when the company needs to change approaches based on fluctuating
business environments (Devra, 2018). The strategic planning process is to render effective
business strategies and eventually allowing flexibility on environmental changes (Dutton &
Duncan, 1987). The strategic planning tool assist managers to define business objectives, scan
the business environment, and develop a comprehensive strategies and tactics that are necessary
to implementing the strategy (Dutton & Duncan, 1987). There are several steps in the strategic
planning process, see diagram below;
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Source: Smartsheet
Amazon has developed and implemented an effective corporate strategy which is fully customer
centric with an aim to gain a competitive advantage. This strategic view point has allowed
Amazon to be able to cope with various environmental changes and be able to maintain its
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position in the economic market after the world trade centre was attacked in 2011 which affected
many businesses and the economic recession which occurred in 2008 (Krystal, 2013).
Nevertheless, the company was able to maintain its competitive advantage and expand into the
India market and also opened its first online store thereby proving its strategic strengths.
According to Stockport (2010), Amazon has always focused on its corporate and business level
strategies which are geared at a customer centric approach which serves its three distinct groups
of stakeholders; these are customers, sellers and developers.
Appendix B
Amazon strategic SWOT Analysis
Strengths
1. Customer Centric Strategy
Amazon’s customer centric strategy mixed with the advancement of technology has allowed the
company to record its purchasing behaviour which the company uses to personalize its services,
offer relevant products and segments to the market based on customers preferences shown when
buying or visiting products. These are based on building and managing customer relationships
and loyalties.
2. Strong Brand
Amazon became a global brand and the top online e-commerce company as a result of being
among the first dotcom companies implementing direct customer based marketing. The company
has also spent heavily on promotion and advertising to make its brand stronger.
3. Effective Delivery Networks
Amazon has built strong distribution networks through its affiliates and partners that make its
products and services available in various places and offers free delivery service in some
locations.
4. Price Leadership
Books were the first product sold by Amazon, over the years the company has become an
industry cost leader in terms of supplying and delivering books at lower cost to its target
customers.
5. Diversification
Amazon built its success with books and has since expanded its business by offering a wider
range of products which has attracted new customer and market segments.
Weakness
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1. Dependence on external delivery companies
The company has limited or no control over the external companies which provides delivery
services. Amazon has to depend of these companies for prompt service and the delivery of
damage free products.
2. Amazon sharing its platform with other companies
By allowing other companies to post its products on the Amazon’s platform, the company runs
the risk of its customers being sold faulty products and lengthy or no return policy. This can
cause a negative effect on sales and customer retention.
3. Tax Avoidance and Debts
According to Bhasin (2017), Amazon’s tax avoidance in the UK and USA has resulted in
negative publicity for the company. It was also mentioned that Amazon continues to struggle to
make the business profitable in many developing nations thereby affecting its overall
profitability resulting in high debts.
Opportunities
1. Acquisition
Amazon has used the acquisition strategy for expansion and growth which included the
acquisition of companies such as jungle.com, IMBD.com among others (Bhasin, 2017). The
company can use the same acquisition strategy to use the specialized capacity of its competitors
or decrease the competition.
2. Increase Internet Users
The internet is now widely used by a cross section of persons around the globe. More persons are
taking the opportunity to shop from the comfort of their homes. This is a great opportunity for
the e-commerce giant Amazon to capitalize on that market of online shoppers.
3. Expansion Opportunities
Amazon has expanded in the Pacific and Asia. There are also opportunities for the company to
expand in developing nations where the e-commerce industry is not yet saturated, hence less
competition.
Threats
1. Hackers
Most online retailers are usually affected by cybercrime and malware attacks. To combat this
issue, Amazon would be forced to hire skilled hackers, which is an additional administration
cost.
2. Competition
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With more and more companies being able to enter the e-commerce industry, companies like
Amazon are now faced with tough competition, price wars, decreased margin and losses.
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