In the modern world of online retails, Amazon is one of the first names that pop up in
people’s mind. They have come a long way since their humble days as an online retailer for
books and this is thanks to their exception marketing strategies that they use.
Here are Five Reasons Amazon’s Marketing Strategy Works.
Offering the Widest Range of Products and Services
Amazon has acquired many smaller companies such as Audible, Twitch, etc. cetera, over the years which allowed them to offer various products and services to the customers. They offer them in four categories; Amazon’s website where the company and other retailers can sell their products online, the company’s own manufactured products such as Kindle and Echo, several online media content such Twitch and their Amazon Prime and finally, they offer several web services, abbreviated as AWS, in the form of data storage, web hosting,
multimedia streaming and etc. cetera.
This, coupled with an understanding of the need for quality have won them many customers and fans.
Putting A Lot of Money into Advertising and Promotions
Amazon saw their rising presence as a leading online retailer and decided to invest billions of dollars into advertising and promoting their services and products across many popular social media platforms such as Twitter, Facebook, and Instagram. Through this, they have come to realize and understanding the needs and wants of their customers.
It also allows the brand to become a household name in the minds of many people.
Always Pricing Their Products Competitively
Price is often a deciding factor in customer’s choice to purchase. In order to compete with the competition, Amazon will keep lowering their prices until their products and services are
cheaper than their competitors who sells the similar products and services.
Allowing User Generated Content Under Their Products’ Page
Amazon have their own review system built into their website and any customer who have
purchased and experience the products first-hand can leave their review for others to see.
This works well in their favor because if the user feedback is very positive, any other
potential customers who are interested in any product will use the review section and the
experience of other users to confirm whether the product is good and not faulty or a scam.
Having A Well-Made Supply Chain System
Amazon recognize what customers want is a fast delivery of their products. As such they
have established themselves for their quick, one-day delivery for their Amazon Prime users.
They achieved this by extensively and strategically placing well-organized distributions
centers across the globe that are not only for their own products, but also, they let other third party sellers and retailers on their distribution line. The idea of a secure and reliable supply chain is very attractive for these smaller businesses.
Besides their own distribution centers, Amazon also partnered with other distribution centers, wholesalers, as well as delivery services to make sure the customers get their products as fast as possible.
In conclusion, Amazon had figure what has worked in the e-commerce market and have
successful make use of their marketing strategies to established themselves as one of the
leading online retailer and a household name.