Company: AMAZON INC.
Based on mile stone 2 idea proposed for the product.
Power point presentation
15 slides and each slide need to have your speaker’s notes in the event you do not present it LIVE
· Think about how you would present the idea of your new or redefined product to your CEO.
You have a limited amount of time and must hit on the high points.
Company introduction
About Redefined product
Ideas on how to present to ceo in deep.
Advertising
Amazon Marketing Plan Milestone 2
Amazon is a retail e-commerce company based in the United States. It is a company headquartered in the United States established in 1995 to respond to changing trading trends. It is an online company that offers various services and products to its customers via its website (Vollero et al., 2021, p. 23). Online transactions provide fair and frequently decreased prices and a wide and varied variety of goods, but it is ultimately a business that is reliant on online transaction purchases. This company sells its products and third-party goods in several categories through mobile and retail websites and apps. The Amazon Company also manufactures and sells electronic devices.
Amazon’s target audience is internet users who want to buy products from the convenience of their own homes. Thus, the target audience information on Amazon is mostly about customers’ shopping habits (Tallman, (2018). The business offers a platform where sellers and buyers connect online to trade on the firm’s website and at individual sellers. In addition, it provides apps, analytics, deployment, storage, and a suite of global computing services to businesses and developers of various sizes (Vollero et al., 2021, p. 23). Amazon also has several initiatives that help filmmakers, musicians, software developers, and authors publish and sell their work. As of 2021, Amazon’s target audience is upper-class and middle-class customers (equally divided across genders) using mobile devices or home computers aging 18-44. In addition, sixty percent of the company’s target demographic is from the United States, where customers prefer to buy online for convenience, quick delivery, and low pricing. Amazon’s target audience includes America’s teenagers, who do not worry about paying a mortgage or other household expenses and are among the most technologically savvy customers. The online retail giant is introducing a new feature that will enable teenagers to make Amazon purchases using their Facebook accounts (Vollero et al., 2021, p. 23). Parents may approve purchases once teenagers click the “place order” button, but teens can buy or watch independently. When a child makes a purchase, The Company notifies their guardians through text or email, and parents ultimately decide.
About the age demographic of Amazon Company, Eighty-one percent of US people aged 18 to 35 were Amazon Prime members in January 2020, up from 69 percent in February 2020. During the global corona virus epidemic, Amazon Prime use increased across all age groups. While most Amazon sellers (58%) are between 25 and 44, more than a third (37%) is beyond 45. The average age of an Amazon seller is 38 years old (Tallman, 2018). Every organization’s understanding of its target market is a never-ending process. Amazon is known for withholding audience data from its merchants, forcing businesses to get consumer information from sources other than Amazon. According to Brand Analytics’ breakthrough Demographics tool, this is going to change. Through its Amazon Buyer Data solutions, the business provides even more consumer insights, enabling its target customers to access information about its services and products easily.
Behavioral, contextual, lifestyle, remarketing, advertising audiences, and lookalike are among the six targeting methods available on the platform for advertisers and utilized by Amazon in understanding their target audience traits and characteristics. If a user has studied a particular product line in the past thirty days, behavioral advertising may be used to target them (Tallman, 2018). Marketers may use lifestyle targeting to engage customers who are Vegan Dieters or Fitness Obsessed frequently. Real-time consumer data is used for contextual targeting, allowing businesses to reach out to individuals who have previously shown an interest in, viewed, or bought their products. Through the use of lookalike audiences, you may discover new customers that make duplicate purchases as your current ones. Finally, the advertising audience function sets Amazon DSP apart. Marketers may utilize this Amazon DSP advertisements functionality to upload their customers (Alassaf et al,. 2020, p. 66).
Using Amazon DSP may significantly increase a brand’s audience reach by using Amazon’s audience knowledge to deliver conversion traffic to your site. The company’s goal is to serve the client. It has been solitary from the Corporation’s inception, providing it a firm hold over its clientele and operating standards. It informs consumers that the company is theirs and is always ready to inspire and inform (Alassaf et al,. 2020, p. 69). Amazon responded by offering low-cost services on its websites. The business listens to consumer concerns and responds appropriately. The Amazon Business distributes its products and services over the internet via Ups and FedEx, a company subsidiary that helps customers make their purchases. This creates a supply chain, lowering operational expenses and saving money. This improves consumer decision-making and action-taking and therefore increases company productivity.
It is essential to survey the target audience to understand their buying patterns and personal characteristics. According to Tallman, (2018) businesses that define consumer target groups have a better chance of persuading lenders to help them. Understanding the concept of customer targeting will allow you to distinguish audiences and determine which groups of consumers support your business and if they will become repeat clients. This company, for example, sells products and services via the internet. This is one of the company’s transportation cost-cutting efforts. Buying and selling items online implies that respondents do not go from one place to another to sell or buy products but rather meet online. Consequently, the business will be able to interact with and transact with customers all over the globe. Following the initiation of the process, the two parties work together to finish the transactions, saving money on traveling (Alassaf et al,. 2020, p. 66). This approach has enabled the business to grow sales while also earning a sizable profit. With this economic approach, the business has been able to cut costs while boosting shareholder value.
In light of the epidemic, Amazon had to alter the way it communicated with its target audience. The impact of the Corona virus on e-commerce varies depending on the seller and product category. Since moving online requires capital, most companies that increased their e-commerce participation in the Corona virus catastrophe will have incentives to utilize their acquired knowledge or infrastructure in the long term (Tallman, 2018). This is especially true for larger businesses that have made significant investments in their delivery and sales systems (Sadq et al,. 2018, p. 34). To keep up with the increasing demand, Whole Foods Markets, Amazon’s food business, boosted its online buying capabilities by even more than 60 percent by 2020, April 12. Moreover, they increased the number of pickup locations from around 80 to over 150, with more scheduled in the future. Small merchants who have depended on the infrastructure and services provided by the online platform to avoid more significant investments may choose to convert their current knowledge and online brand into a long-term asset.