6-2 Final Project Milestone Three Marketing Strategy Presentation

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MKT 113 Final Project Milestone Kai Angyl MKT 345 Consumer Behavior FINAL PROJECT
MKT 113 3-2 Final Project Milestone One: Market Research and Segmentation
MKT 113 Company Introduction Company: Amazon • Overview: Amazon is an e-commerce business that sells various product lines and allows users to sell on their platform. Amazon has specific popular brands at discount prices. They also offer a membership that is on an annual or monthly basis to provide 2 day priority shipment for members. Shipping is continued 7 days a week, with no constraints from the USPS, within the United States.
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MKT 113 MARKET RESEARCH Current Consumer Segment Consumer Segment • Demographic Segmentation: Age, Relationship Status, Socio-Economic Strata,& Income • Geographic Segmentation: Global sales in 100 countries • Behavioral Segmentation: New, Savvy, Opportunistic, & Loyalty • Psychographic Segmentation: Resigned, Aspirer, Succeeder, Striver, and Reformer Justification: • Drives growth • Consumer engagement • Representation
MKT 113 MARKET RESEARCH Consumer Segment (con’t) Primary Research • Primary Research Sources: • Source 1: Applied Research • Justification: by using primary evaluation methods to obtain key information and data relevant to current consumer shopping trends through online focus research groups, surveys, and analytics from the consumer data collection amongst the Amazon website, such as abandoned cart products, number of Prime memberships, and consumer profile data. • Source 2: Engagement Research • Justification: Community driven research practices to obtain data on fresh consumer perspectives. This will help fuel how consumers interact with certain brands, which is a valuable resource to obtain. • Source 3: Basic Research • Justification: Analysis of pure fundamental knowledge on consumer behaviors, consumer understanding of tenAmazon brand, developing and testing theories pertaining to current consumer purchase data, and examination of what new things consumers are looking for in a brand.
MKT 113 MARKET RESEARCH Secondary Research I will use the following secondary research methods to obtain key data on what drives Amazon’s growth and foundational strategies. • Resource 1: The NAICS & SIC Classifications https://www.census.gov/ naics / • Justification: This will provide key statistical economic data that has been published and analyzed • Resource 2: The Current Industrial Report (CIR) program https://www.census.gov/programs-surveys/current-industrial-reports.html • Justification: To view analysis of economic data provided by the U.S. Census Bureau which is gathered weekly, monthly and annual on a 5 year basis. This will help provide key determinants involved in the retail trade. • Resource 3: SRDS Media Planning Platform https:// next-srds - com.ezproxy.snhu.edu /portal? newsess =y • Justification: This will be used to understand Amazon’s current media planning endeavors and business goals
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MKT 113 MARKET SEGMENTATION Segmentation Strategies Market Segment: Demographic • 18 to 64 years • Occupation: employee, student, professionals • Focus on all income types • Lifecycle Stage: single, married, children, empty nesters Market Segment: Geographic • Region: over 100 different countries serviced • Density: Focus on Urban and Rural, each have polarizing factors
MKT 113 MARKET SEGMENTATION Segmentation Strategies Market Segment: Behavioral • Degree of loyalty • Personality Traits • User Status • Social Class Status Market Segment: Psychographic • Lifestyle Choices and Forecasts
MKT 113 MARKET SEGMENTATION Segmentation Strategies Justification / Key Points: • #1 Helps Amazon be more efficient in time, resources, and revenue flow. • #2 Helps Amazon have a stronger differentiation from other global brands currently using the same business model type.
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MKT 113 MARKET SEGMENTATION Segmentation Strategies Research Needs: Amazon needs to perform a Gap Analysis, which takes into account past performance and current trends. Research Gap 1: Determine cause of shifts in performance Justification: this will help determine if external factors have played a part in downturning performance indicators. Research Gap: Determine decrease in top selling products Justification: this will help Amazon understand if current trends are changing Research Gap: Help fine-tune their campaigns Justification: this will determine if products still have a lot of traffic, by pulling relevant up to date data analytics Amazon will then understand where they can adjust their campaigns to focus on trending items.
MKT 113 4-2 Final Project Milestone Two: Consumer Buying Process
MKT 113 CONSUMER BUYING PROCESS Stages Define the stages of the buying process as it relates to your product using numbered points • Consumer Buying Stage: Define the stage • Marketing Strategy : Analyze a marketing strategy that can be used for your market segment
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MKT 113 CONSUMER BUYING PROCESS Stages (con’t) • Consumer Buying Stage: Define the stage • Marketing Strategy : Analyze a marketing strategy that can be used for your market segment
MKT 113 CONSUMER BUYING PROCESS Stages (con’t) • Consumer Buying Stage: Define the stage • Marketing Strategy : Analyze a marketing strategy that can be used for your market segment
MKT 113 CONSUMER BUYING PROCESS Stages (con’t) • Consumer Buying Stage: Define the stage • Marketing Strategy : Analyze a marketing strategy that can be used for your market segment
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MKT 113 CONSUMER BUYING PROCESS Stages (con’t) • Consumer Buying Stage: Define the stage • Marketing Strategy : Analyze a marketing strategy that can be used for your market segment
MKT 113 CONSUMER BUYING PROCESS Most Effective Marketing Strategies • Most Effective: Identify the stage where your marketing strategies would be most effective. • Justification: Why is the effective with your selected consumer segment?
MKT 113 6-2 Final Project Milestone Three: Marketing
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MKT 113 MARKETING STRATEGY Overall Marketing Campaign • Goals: Define three goals of your marketing campaign for your segment. • Goal 1: List it • Goal 2 List it • Goal 3: List it
MKT 113 MARKETING STRATEGY Channels • Channel 1: Define the channel you will use to market the product to your segment • Justification: Why are you using this channel for your segment? • Messaging Strategy: Develop your messaging strategy for this channel • Example: Include a sample message
MKT 113 MARKETING STRATEGY Channels • Channel 2: Define the channel you will use to market the product to your segment • Justification: Why are you using this channel for your segment? • Messaging Strategy: Develop your messaging strategy for this channel • Example: Include a sample message
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MKT 113 MARKETING STRATEGIES One-To-One Marketing • Utilization: Define your One-to-One marketing and how you will incorporate it into your overall marketing campaign. • Stages: Describe which stage(s) in the consumer buying process would best lend itself to one-to-one marketing. • Strategy: Determine one-to-one marketing strategy that would work for the stage(s) above • Justification: Why does this strategy align with your segment?
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MKT 113 References • Bureau, U. C. (2023, January 19).  Current industrial reports (CIR) . Census.gov. https://www.census.gov/programs-surveys/current-industrial-reports.html  • Carmely, M. (2023, June 5).  Amazon Target Market & Audience Segmentation insights . Start.io - A Mobile Marketing and Audience Platform. https://www.start.io/blog/amazon- target-market-customer-segmentation/#:~:text=While%20Amazon%20customers%20are %20single,household%20income%20of%20nearly%20%2485%2C000.  • Fuller Theological Seminary, Media Services. (1987).  Media Services . Amazon. https://aws.amazon.com/media-services/  • John, S. St. (2021, June 15).  Revenue down on Amazon? time to run a gap analysis . Omnitail. https://omnitail.net/amazon-gap-analysis/  • North American Industry Classification System - NAICS . United States Census Bureau. (2023). https://www.census.gov/naics/  • SRDS . Adwanted_group. (2022, December 22). https://www.adwanted.com/en/srds/  • Staff, A. (2023, March 15).  3 ways Amazon supports its customers every day . US About Amazon. https://www.aboutamazon.com/news/company-news/3-ways-amazon-supports-its- customers-every-day 
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MKT 113 REFERENCES • Fix, S. (2021, December 15). Our first-ever style forecast predicts style and shopping trends for 2022 . Stitch Fix Newsroom. https://newsroom.stitchfix.com/blog/stitch-fix-style-forecast- 2022/ • Gok, T. (2023, April 24). The impact of social media on advertising . The Rise of Social Media Advertising: Impact on Marketing and Challenges in Creatives - AdCreative.ai. https://www.adcreative.ai/post/the-impact-of-social-media-on-advertising? utm_source=google&utm_medium=cpc&utm_campaign=20475517560&utm_term=&campai gnid=20475517560&adgroupid=&keyword=&device=c&gad_source=1&gclid=Cj0KCQiA4 NWrBhD-ARIsAFCKwWuOKa- QuiIWOeFETJMPj4EM1lJABAHeQOgjQOUiGdh0WqGV2_mBa5QaApXUEALw_wcB • Middlebrook, S. B. (2022, April 25). Stages of the consumer buying process - toughnickel . Tough Nickel. https://toughnickel.com/starting-business/Stages-of-the-Consumer-Buying- Process • Peppers, D., Rogers, M., & Dorf, B. (2014, August 1). Is your company ready for one-to-one marketing? . Harvard Business Review. https://hbr.org/1999/01/is-your-company-ready-for- one-to-one-marketing
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MKT 113 References • Stitch fix: Your personal stylist . Women’s Clothes | Men’s Clothes | Kid’s Clothing Boxes | Stitch Fix. (2023). https://www.stitchfix.com/?utm_source=google&utm_campaign=nbsearch %7Cgoogle%7Cgn%7Chigh_tCPA%7Cfix%7Cpros%7Cweb%7Cus %7C&utm_medium=cpc&utm_adgroup=148617381523&utm_content=668250721430%7C1 48617381523&utm_term=curated+style&gad_source=1&gclid=Cj0KCQiAsburBhCIARIsAE xmsu6GM8oYV- yaL1qVyWfNs9P6vnUMOlz8UvDvKWJeCtdryuJrnE9hZNkaAhmsEALw_wcB • Walls, P. (2023, January 19). 250+ creative amazon slogans & taglines - starter story . Starter Story RSS. https://www.starterstory.com/amazon-business-slogans
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