Amazon Market Strategy, Marketing Channels, Implementation, and Monitoring New Target Markets

Amazon Market Strategy, Marketing Channels, Implementation, and Monitoring New Target Markets

Developing nations provide rich opportunities for companies such as Amazon due to the growth that their economies continue to experience. Amazon is already a global leader in the e-commerce industry (Sadq, Nurradin, & Hama, 2018). However, upcoming competitors in various countries may take away a significant business opportunity. Targeting developing nations is a way to encourage clients to not only buy but also sell or export to other developed nations. Such trade will improve the economies of these nations but also expand the company’s market share (Khanna, Palepu, & Sinha, 2005).

The main target market in these nations is the Millennials, who purchase items online. They are between 23 and 45 years old. They are employed and thus able to support themselves financially. They are adventurous and like to experiment with new products. Most of them have attained college degrees. They own smartphones and use social media sites frequently. In addition, they are technologically perceptive and own bank accounts for online payments. Targeting these groups in developing nations will increase the company’s website viewership. Thus, the company will have more purchasers and sellers, as well as an increased variety of products.

Marketing Mix for New Target Markets

Products

Amazon should include more authentic and unique products within its portfolio. These include beauty products, cosmetics, and artwork. The products should attract clients who desire to purchase such items from developing nations but are unable to. The presence of these authentic products will attract additional clients who have used them before or have the desire to purchase them. It is also important to list all the characteristics of the products as well as their benefits. Videos demonstrating usage can be beneficial in driving sales.

Price

The prices of the items should be standardized to enhance clients’ beliefs about their quality. The price of a product usually affects quality perceptions. Most clients believe that a high price is charged for high-quality products and vice versa. However, this assumption is not always right (Rao, 2005). However, Amazon should price the items affordably to cover costs prior to adding the shipping costs.

Distribution

The products can be distributed by different sellers in various countries. Once they are listed on the website, the company can have headquarters in different nations to handle shipping and probably avoid direct contact between the client and the seller.

Traditional Promotion

Marketing can be done using print media in the various nations that the company selects. They can also use television to highlight the possibility of shipping from other developing nations using Amazon.

Online Promotion

Amazon can use Facebook to reach out to a young audience. Other social media sites include Instagram and YouTube. These platforms are ideal due to the sharing option, spreading the word faster.

Marketing Implementation

The marketing process will be organized around regions. For instance, the Asian and African regions will be bundled in a different campaign. This plan will help clients easily associate specific products with specific regions. It will be easier for clients to create realistic expectations of the products based on the region. For instance, curry leaves from India are likely to gain a better following due to the region. Amazon’s head of marketing will make the marketing decisions. The decision-making process will include regional heads to create a comprehensive campaign that communicates the right message to the target market about specific products.

Marketing Communication Channels

Channel	Target Market	Advantages	Disadvantages
Social media	Middle class Social media users Employed Aged 23-40 years Conversant with technology	Can be shared among viewers	Requires a lot of time and advertisements to reap returns from the viewers
Television	Age 20-40 years Middle class	Reaches a wide coverage of viewers	Expensive to carry on for long periods
Print Media such as magazines	Aged 25-45 years Middle class Employed	More trustworthy when dealing with older generations	Does not last long due to loss or spoilage

Strategic Actions

Action	Date for Completion	Person/Role Responsible	Standard/Metric
Create 3 posts daily for each of the social media sites	10/04/2021	Mary McMahon, Social media analyst	Approval by the head of marketing
Design an advertisement for Television	10/04/2021	Mercy Jays, Graphic designer	Approval by the head of marketing and the legal department manager
Design a post for various print magazines in the different regions	15/04/2021	James Smith, Print Media designer	Approval by the head of marketing and the legal department manager

Monitoring

Action	Target	Person Responsible	Inter-measurement
Social Media posts	3000 new accounts from all new regions	Regional Marketing Managers	200 new purchases from the new accounts during the first two weeks from all regions
Television advertisement	500 new accounts	Regional managers	200 new purchases from the new accounts on amazon during the first month
Print media	1000 new inquiries	Regional marketing heads	200 new accounts from all regions

References

Khanna, T., Palepu, K. G., & Sinha, J. (2005). Strategies That Fit Emerging Markets. Harvard Business Review.

Rao, A. R. (2005). The Quality of Price as a Quality Cue. Journal of Marketing Research, 42(4), 401-405.

Sadq, Z. M., Nurradin, S., & Hama, S. (2018). Analyzing the Amazon success strategies. Journal of Process Management New Technologies, 6(4), 65-69.

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

---

Amazon Market Strategy, Marketing Channels, Implementation, and Monitoring New Target Markets

Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring

(Due in Wk 6)

New Target Markets

Determine any new markets for your strategy and describe how you will provide value to each target market.

Marketing Mix for New Target Markets

Determine adaptions for each new target market.

• Products
• Price
• Distribution
• Traditional Promotion
• Online Promotion

Marketing Implementation

Create the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions.

Marketing Communication Channels

Evaluate the marketing communication channels you will use to reach selected audiences. Include Internet and traditional communication channels to convey key messages. Describe the advantages and disadvantages of each channel you select. Insert or remove rows as needed.

Channel	Target Market	Advantages	Disadvantages
Example: Direct mail	Middle class residential	Can include coupons	Expense and low return rate for given product

Strategic Actions

Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.

Action	Date for Completion	Person/Role Responsible	Standard/Metric
Example: Design flyer for direct mail campaign	1/1/2021	J. Smith, graphic designer	Approval by senior marketing team and legal

 

Monitoring

Develop the measurement to identify how you know you have been successful for each strategic action. Specify the measures to track performance against goals. Identify standard reports from your online and traditional marketing efforts. Insert or remove rows as needed.

Action	Target	Person Responsible	Inter-measurement
Example: Direct mail flyer	1100 new inquiries	Western regional manager	500 new inquiries first month of campaign