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Introduction
Amazon is one of the most successful projects in today’s world. It started in 1994 as an online bookstore, and since that time, its core business model has substantially developed and expanded. Indeed, the introduction of Kindle digital technology in 2007 “was a massive success as early adapters bought their first revolutionary e-reader within five and a half hours” (Junata, 2019, para. 1). Nowadays, the Kindle e-reader remains the leading product line of the company. Such an achievement relies primarily on the company’s ability to predict and respond to consumer behavior effectively. Therefore, Amazon’s marketing strategies require careful consideration.
Main body
First of all, it is relevant to conduct the situation analysis of Amazon in general and the Kindle product line in particular. The development of a strong brand is one of the essential prerequisites of Amazon’s success. Sustainable client support, efficient delivery, and a system of discounts create a reliable foundation for customers’ trust. Besides, the company has a well-developed cloud computing infrastructure, represented by Amazon Web Services. At the same time, one must remember that Amazon has numerous strong competitors, such as eBay, Netflix, iTunes, and others, who can significantly affect the company’s profit. However, Amazon manages to hold steady due to its high adaptability and flexibility. In other words, an undeniable strength of Amazon is its ability and readiness to diversify its products. Hence, the company’s gradual expansion embraces but is not limited to selling CDs and DVDs, producing toys, electronics, and even foods.
At present, Amazon’s Kindle is the oldest product line, which the brand continuously develops and sells. Moreover, it is considered “the most successful line of e-readers ever made” (Kozlowski, 2019, para. 1). Indeed, the Kindle e-reader dominates the American market, “with an estimated 75% market share” in the US (Kozlowski, 2019, para. 1). It is only natural that this product has competitors in other countries, such as Barnes & Noble in the UK, Bookeen in France, or Tolino in Germany. However, Amazon’s Kindle still enjoys its reputation as “an evolutionary step forward for e-readers” (Kozlowski, 2019, para. 2). What is more important, this is inherently a global line, which the company continues to refine.
It is also highly relevant to define the product’s target market profile. As to Amazon’s Kindle, its target audience embraces people with Internet access. Moreover, the Kindle e-reader is a perfect option for customers with the means of online payment, such as credit cards. As a result, the company can effectively function and expand its influence in the international arena. However, it is crucial to determine the specific features of the target market profile. These essential characteristics include “gender, age group, income level, location, occupation, hobbies and interests” (Matelski, 2018, para. 4). Hence, the target market profile must embrace and take into account all these features.
Furthermore, the target market decision-making process is also of paramount importance. In this context, Amazon applies a proactive method based on rapid response to customers’ needs. In particular, the company uses “a working backward approach” (Perkin, 2018, para. 10). That is to say, the starting point of the company’s decision-making process stems “back from the customer rather than starting with a product idea and trying to find a justification in a customer need” (Perkin, 2018, para. 10). As one can observe, Amazon does not try to squeeze its product into the customers’ ostensible demands. The target market decision-making process follows the four-stage outline. These stages include: (1) posing the consumers’ question, and (2) approaches to answer this question. In the third and fourth stages, the following issues are addressed: (3) how is the suggested answer different? and (4) “what’s in it for the customer?” (Perkin, 2018, para. 8). It is evident that this process starts with a customer’s potential question (or a need), develops in the course of the company’s attempts to answer this question, and concludes by evaluating the overall impact of the product and the extent of satisfying the client’s requirement. Thus, Amazon prioritizes the customers and their problems, aspiring to find appropriate solutions and welcoming feedback at each stage of decision-making.
Moreover, it is necessary to analyze personal and social influences on buying behavior. In particular, Amazon has a competitive advantage in terms of customer relationship management, which gathers and analyzes data on consumer buying behavior. Hence, this system interacts with both current customers and potential. Furthermore, it is essential to understand the customers’ changing interests to target the audience effectively. In this context, Amazon obtains customer insights by using buyer data. As one can observe, the history of previous purchases is closely monitored, including demographic data, such as age, gender, occupation, and shipping destinations. Thus, Amazon uses its customers’ account data to influence their buying behavior. As a result, the company manages to respond to customers’ needs “faster than competitors” (Rubin, 2017, para. 7). That is to say, Amazon knows its customers, their preferences, and their requirements. Another vital outreach of Kindle was the introduction of Kindle Direct Publishing. Indeed, this self-publishing technology attracted a new group of customers as it “gave authors a new route to reach millions of readers” (Rubin, 2017, para. 12). In other words, Amazon actively uses both personal and social aspects to influence buying behavior.
Psychological influences on buying behavior are no less important. For instance, the Prime subscription is of critical importance to Amazon’s business model, since it promotes customers’ loyalty and allows them to buy more products. As to the Kindle e-reader, the company employs an unlimited subscription. In particular, Kindle Unlimited enables readers to read over 1.4 million books available in Amazon’s library. Although the subscription costs $9.99 per month, the low price creates an impression of providing “free” access to reading (Kizer, 2017, para. 2). Indeed, people who are avid readers who buy books every month are likely to spend much more money.
As a result, Kindle Unlimited subscribers can read an unlimited number of books per month. In this context, customers demonstrate remarkable behavior patterns. For example, “over 71% of KU subscribers read 5 books per month or more”, as compared to “only 57% of non-KU readers who read 5 books per month or more” (Kizer, 2017, para. 7). As one can observe, KU subscribers have a strong incentive to read more books since they pay $9.99 per month for this service and therefore want to get their money’s worth. Hence, the psychological influences on buying behavior are significant.
Conclusion
Thus, Amazon’s Kindle is a successful product line, which confidently retains its leading position since its launch in 2007. However, several steps are necessary to reinforce the achievement of the Kindle e-reader. Marketing strategy recommendations for Amazon include a further expansion on a global basis. In other words, the international outreach of Kindle e-reader is relevant. For this purpose, regulatory challenges may arise since some countries may not tolerate buyer data analysis. Furthermore, Amazon needs to prioritize the issues of cybersecurity. For instance, Kindle e-reader can be subject to hackers’ attacks. Therefore, protecting the customers’ credit card data and personal information is also of primary importance. Another recommendation is investing in physical stores. The focus on physical stores will increase the brand’s presence throughout the world and attract new groups of customers, especially those who prefer paying cash or cannot access the Internet. By following these recommendations, Kindle will remain one of Amazon’s most prosperous product lines.
Reference List
Junata, M. (2019). ‘All-new kindle brand strategy’,Medium. Web.
Kizer, C. (2017). ‘How do Kindle unlimited subscribers behave (and how does it impact authors)?’Written Word Media. Web.
Kozlowski, M. (2019). ‘The Amazon Kindle is the most successful e-reader ever’,Good e-Reader. Web.
Matelski, K. (2018). ‘How well do you know your Amazon target market?’Vizion. Web.
Perkin, N. (2018). ‘Making decisions and business cases the Amazon way’, Business Agility. Web.
Rubin, B. F. (2017). ‘2 big innovations that made Amazon’s Kindle a success’,CNET. Web.
Do you need this or any other assignment done for you from scratch?
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