Marketing and Product Objective
Great entrepreneurs understand the market and know that staying at the top is an advantage (Armstrong, Gary, et al). Amazon is the current real threat to Netflix since both companies offer more or less the same product. Currently, amazon is trending with its Amazon instant video which provides video streaming services to its customers
Moreover, Amazon has the potential to successfully beat other companies in online video streaming due to its ownership of cloud computing platform. Its product is unique in that it offers retrieval services for archived videos and original content (Armstrong, Gary, et al). As internet revolution intensifies and competition becomes stiffer, Amazon stands a better chance to make the most sales.
Current market
Amazon recently launched two powerful products; the Launchpad and online stores. The new products target companies and startup businesses. Amazon will earn revenues from these platforms when consumers access the product at sale point. It is projected that by 2020 most companies will launch products, market and make sells via Amazon Launchpad. With the Amazon continuous effort in streaming innovations, the products are expected to become more popular.
Expanding on a new market
Amazon is set to gather a significant market share over the coming years. According to IBISWorld US database, the market growth is expected to rise from around 13 percent to 19 percent by the end of years (Bharadwaj, Anandhi, et al, pg. 475). The company is rated high in stock exchange market. It dominates other companies like E-Bay and Wall-Mart. This is an indication that consumer trust and investors’ confidence for this company is high. Thus, it should not be difficult to capture new customers and to expand its market.
New product
Early this year, amazon launched two new products namely the online store and Launchpad. The online store provides consumers access to new products and innovation while the Launchpad is a platform where hardware and physical goods can be marketed. Subscribers can launch their products and sell them as well through this platform. On the other hand, online stores make product searching and purchases simpler and cheaper. Consumers can get what they need from anywhere as long as they have made a purchase. However, this product is popular in other companies such as E-bay and Wall-mart. However, with the immense number of subscribers of Amazon services, this product is expected to thrive.
Target market
The target markets for the product are the entrepreneurs and marketing companies. Amazon doesn’t face stiff competition from e-bay, Netflix and wall-mart over this product. More so, the online stores provide a variety of products to consumers and with the inception of drones, market of such items is expected to rise (Bharadwaj, Anandhi, et al, pg. 480). Consumers need customer delivery services after shopping from online stores. Amazon satisfies is set to satisfy this need quicker by use of drones.
Therefore, given the large number of its loyal customers, Amazon is expected to make tremendous sales of this product. It is furthermore convenient for business firms to buy these products in order to cut on costs. Mark you, Amazon over 70 million subscribers across the world. Thus, it will be easier to reach out to such a large population through the Launchpad. Moreover, it minimizes advertisement costs thus perhaps the company would have incurred to make an advertisement to just a handful of potential customers (Armstrong, Gary, et al). Amazon is set to simplify marketing by minimizing the gaps that exists. By doing so, Amazon will meet consumer needs as it rakes in huge profits and generate more revenues.
Perpetual map distinctive
Conservative
Marketable
Affordable
Work cited
Armstrong, Gary, et al. Principles of marketing. Pearson Australia, 2014.
Bharadwaj, Anandhi, et al. "Digital business strategy: toward a next generation of insights." Mis Quarterly 37.2 (2013): 471-482.
