Benchmark 1-mkt 315 PDF

Preview

Summary

Benchmark week 2...

Description

Marketing Plan Analysis and Presentation: Part 1 – Research Template Directions: Visit the website for the company you have selected and obtain a copy of the annual report. Locate three to five additional resources that will provide data and information related to the brand story; the company vision, mission, and marketing objectives; and strategies and tactics the company is currently using to meet the marketing objectives. You will also use this information to complete a SWOT analysis. Apply your research findings when completing each item below. Company Name: Amazon Brand Story: In 250 words, provide a thorough description of the company and brand. Reference and cite your research sources within the summary. In 1995, Amazon was known as a book selling online market. Amazon slowly started expanding from books to music and computer games in 1998, they did not stop there (McFadden, 2021). Jeff Bezos took over the industry for Amazon with the dream of becoming an everything store (Hartmans, 2019). In 2005, the everything store launched and took over the online shopping industry (McFadden, 2021). Amazon is a highly convenient online store that allows the people to get their needs from the touch of a button. The use of technology within Amazon’s website, fulfillment centers, and customer service centers allows for efficient use of everyone’s time. Amazon introduced AWS (Amazon Web Services) which is a cloud system that allows for customers to innovate quicker and more efficiently (What Is AWS, n.d.). AWS allows for businesses of all different backgrounds to grow their industries for their customers satisfactions. AWS is essentially a huge platform for businesses that was created by Amazon, in order to grow the Amazon infrastructure (What Is AWS, n.d.). Amazon not only improves for their employees and customers, but they also improve for our world. Amazon has pledged to become net zero carbon by 2040 while being on track to be using 100% renewable energy to power their operations (Our Planet, n.d.). On top of their pledge and using renewable energy, Amazon is reducing the water usage in data centers to using sustainable aviation fuel, recycled packaging and using only the bare minimum, and they are producing the first all-electric delivery trucks (Our Planet, n.d.). Overall, Amazon is a company that has the world on its mind, their people on its mind, and their consumers on their mind. Company Vision: Amazon’s Vision is “to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online” (Gregory, 2019). Company Mission: Amazon’s mission is: “We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience” (Gregory, 2019). Company Marketing Objectives: Creating more than consumed (Amazon.com, Inc. - Annual reports, proxies and shareholder letters, n.d.).

© 2019. Grand Canyon University. All Rights Reserved.

Company Marketing Strategies and Tactics: In 250 words, provide a high-level summary of the strategies and tactics the company is currently using to meet its marketing objectives. Include discussion about the market and consumer data that was used in formulating the strategies and tactics. Reference and cite your research sources within the summary. Amazon uses a simple marketing plan to ensure a successful company. The first step is offering a huge selection and wide range of products to their customers (Amazon.com, Inc. - Annual reports, proxies and shareholder letters, n.d.). This first step is important because it allows for their company to have everything a consumer may need; this means that they are generating more business by having things available. The second step is being extremely user-friendly (Amazon.com, Inc. - Annual reports, proxies and shareholder letters, n.d.). This second step is crucial because the user-friendly experience caters to all ages, this means a more variety of consumers. The third step is having the lowest prices to offer compared to the competitors (Amazon.com, Inc. - Annual reports, proxies and shareholder letters, n.d.). The third step is important because the lower prices lessen the competition, and more people will want to buy from amazon. The fourth step is to be completely convenient to the consumers (Amazon.com, Inc. - Annual reports, proxies and shareholder letters, n.d.). The convenience of ordering products from your phone or computer, then receiving those items the next day (most of the time). Many people are full-time workers with a family to raise or anything that occupies their time, being able to order groceries, supplies, etc., is an attention grabber for this company. Overall, Amazon is a high performing company with many assets; shareholders profits are $21B, employee’s profits are $91B, 3rd party seller’s profits are $25B, and customer profits are $164B. SWOT Analysis: Using the data and information from your research, complete a SWOT analysis for the company. Reference and cite the topic materials for details on conducting SWOT analysis.



Strengths Customer oriented



Largest merchandise selection

Weaknesses  Employee Strikes for unsafe working conditions 



Easily imitable business model

Market Leader  Product failures

2

 Self-driving technology

Threats  Competitors (Netflix, Apple TV, Disney, FedEx, Tesla, Uber, Ford)

 More acquisitions





Opportunities Expanding physical stores

Fake reviews

 Cybercrime

Citation of Sources: Provide APA citations for the company’s annual report and the other research sources utilized in completing the assignment. Name of Source Amazon

Citation Information Amazon.com, Inc. - Annual reports, proxies and shareholder letters. (n.d.). Amazon. Retrieved May 30, 2021, from https://ir.aboutamazon.com/annual-reports-proxies-andshareholder-letters/default.aspx

Business Insider Hartmans, A. (2019, June 17). 15 fascinating facts you probably didn’t know about Amazon. Business Insider Nederland. https://www.businessinsider.nl/jeff-bezosamazon-history-facts-2017-4?international=true&r=US Interesting Engineering McFadden, C. (2021, February 17). A Very Brief History of Amazon: The Everything Store. IE. https://interestingengineering.com/a-very-brief-historyof-amazon-the-everything-store Amazon What is AWS. (n.d.). Amazon Web Services, Inc. Retrieved May 31, 2021, from https://aws.amazon.com/what-is3

aws/ Amazon Our Planet. (n.d.). US About Amazon. Retrieved May 31, 2021, from https://www.aboutamazon.com/planet Panmore Institute Gregory, L. (2019, February 13). Amazon.com Inc.’s Mission Statement & Vision Statement (An Analysis). Panmore Institute. http://panmore.com/amazon-com-inc-visionstatement-mission-statement-analysis

4...