SOLUTION: MKT 574 University of Phoenix Week 2 Amazon Inc Strategic Marketing Plan Paper

MKT/574 v1
Strategic Marketing Plan
Part A: Environmental Analysis and SWOT Analysis
(Due in Wk 2)
Company Description
Describe the company you are designing the plan for. Include:




Mission Statement
Vision Statement
Product line description
Company information, such as the size of the company
Environmental Analysis
Analyze the forces that affect the company and marketing efforts.
Competitive Forces
Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to
compare your company against its competitors. Describe any strategic moves the competition has
recently made. Estimate your market share. Identify key competitive advantages against your
competitors.
Economic Forces
Analyze the economic environment in the areas affecting your business. Consider differences within your
industry and the economic impact on suppliers.
Political Forces
Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or
eliminate plastic waste in your county.
Legal, Regulatory, and Ethical Issues
Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may
include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible
increased regulation on direct mail.
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Strategic Marketing Plan
MKT/574 v1
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Technological Forces
Analyze whether your company will be affected by emerging technologies or trends in hardware and
software industries
Social Forces
Analyze social trends and how they may affect your business. Considerations may include if your
business will be affected by demographic trends, a growing dependence on computers, or whether
interest in your product might be affected by growing preferences in the way things are done or changing
social values.
Current Target Markets
Define the company’s current target markets. Describe the demographic, geographic, psychographic,
and product usage of these targets.
Review Current Marketing
Review the company’s current marketing tactics. Consider how people find out about the product, how
they get information about the product or service, what might be involved in the buying process, and what
money is available for marketing. If your company is a start-up, describe your competitors’ current
marketing.
SWOT Analysis
Assess your company’s strengths, weaknesses, threats, opportunities, and then evaluate how to address
these in your marketing plan.
Strengths
Assess your company’s competitive advantage. Consider core competencies, assets, location, practices,
etc. that are distinct in the way the organization meets the needs of its customers.
Weaknesses
Assess what limits the company may have in its current marketing strategy. Consider if there is a
company weakness that needs to be addressed through Public Relations or Marketing.
Opportunities
Assess the opportunities you see based on trends or environmental conditions.
Threats
Assess the threats or limitations that may interfere with the company’s ability to meet its objectives or
interfere with marketing plans.
Copyright 2020 by University of Phoenix. All rights reserved.
Strategic Marketing Plan
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Strengths to Opportunities & Converting Weaknesses and Threats
Convert weaknesses and threats to strengths, then strengths to opportunities in the marketing plan.
Consider the implications for addressing supplier relationships, implementing new technologies, or
changing the product line or addressing new markets.
Marketing Objectives
Establish marketing objectives based on the results from the SWOT analysis. Marketing objectives must
align with corporate objectives, modified by the company’s resources. Objectives should include a date
for the completion of the objective and the way in which success will be measured. For example: The
company will expand its marketing efforts to include a new market segment of 21- to 29-year-olds. This
will entail the development of a customized product by June 2020 that will address the specific
psychographic and technological needs of this age group. This strategy is expected to attain a 20%
growth in overall sales by January 2020. Customer loyalty (willingness to recommend the product) will
increase by 30%.
Part B: Marketing Data Analysis
(Due in Wk 4)
Internal Data
Evaluate internal sources of information available to you inside the organization and what
information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove
rows as needed.
Source
Example: Sales data
What it Measures
Monthly sales by
specific product
Data
Average sales that
month in US dollars for
each of 10 products.
Data can be segmented
by business and
consumer markets.
Copyright 2020 by University of Phoenix. All rights reserved.
Potential Usage
Can be used for
trend analysis,
projections, and to
measure
effectiveness of
promotions.
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Secondary Data
Evaluate secondary data sources and the specific information you need from each source. Insert or
remove rows as needed.
Source
What it Measures
Data
Potential Usage
Example: retail store
analytics
Dollar value of sales by
quarter by major
product categories
Total sales of major
players
Market Share
Analysis
Seasonal patterns
Primary Data
Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove rows as
needed.
Source
What it Measures
Example: Focus group
Product usage,
motives, identify group
level satisfaction,
decision process, etc.
Data
Qualitative
Copyright 2020 by University of Phoenix. All rights reserved.
Potential Usage
Identify different
reactions of market
segments to
product. Identify
marketing
opportunities,
product/service
flaws and
opportunities
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MKT/574 v1
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Source
What it Measures
Data
Potential Usage
Customer Relationship Management
Establish customer touchpoints and develop appropriate CRM events for customer acquisition, retention,
and profitability. Insert or remove rows as needed.
CRM Touchpoint
Example: Customer
profile information on
website
Purpose & CRM
Objective
Starts the account for
visitors: name,
geography, email
address (Customer
acquisition)
Data
Presale: geographic
location; customer id,
source of reference
Email address
Post sales: address,
product purchased,
quantity, price.
Potential Data
Usage
Track new and
returning customer
counts, total period
purchases by
customer ID,
geographic sales
data. Can be used
for loyalty rewards,
retention, and
targeted marketing.
Part C: Market Strategy, Marketing Channels,
Implementation, and Monitoring
(Due in Wk 6)
New Target Markets
Determine any new markets for your strategy and describe how you will provide value to each target
market.
Copyright 2020 by University of Phoenix. All rights reserved.
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MKT/574 v1
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Marketing Mix for New Target Markets
Determine adaptions for each new target market.





Products
Price
Distribution
Traditional Promotion
Online Promotion
Marketing Implementation
Create the implementation for your marketing plan. Describe how you will organize and implement the
plan, such as whether it will be organized by market, geography, and who is responsible for marketing
decisions.
Marketing Communication Channels
Evaluate the marketing communication channels you will use to reach selected audiences. Include
Internet and traditional communication channels to convey key messages. Describe the advantages and
disadvantages of each channel you select. Insert or remove rows as needed.
Channel
Example: Direct mail
Target Market
Middle class
residential
Advantages
Can include coupons
Disadvantages
Expense and low
return rate for given
product
Strategic Actions
Develop specific activities required to implement the marketing plan. Identify the person or role who will
be responsible for each action, when it will be complete, and what standard or metric indicate that the
activity is complete. Insert or remove rows as needed.
Copyright 2020 by University of Phoenix. All rights reserved.
Strategic Marketing Plan
MKT/574 v1
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Action
Example: Design flyer
for direct mail
campaign
Date for Completion
1/1/2021
Person/Role
Responsible
J. Smith, graphic
designer
Standard/Metric
Approval by senior
marketing team and
legal
Monitoring
Develop the measurement to identify how you know you have been successful for each strategic action.
Specify the measures to track performance against goals. Identify standard reports from your online and
traditional marketing efforts. Insert or remove rows as needed.
Action
Example: Direct mail
flyer
Target
1100 new inquiries
Person Responsible
Western regional
manager
Copyright 2020 by University of Phoenix. All rights reserved.
Inter-measurement
500 new inquiries first
month of campaign
Part B: Marketing Data Analysis
Lakisha Smith-Bailey
MKT 574
University of Phoenix
October 16, 2021
Prof. Ismael Hau
Part B: Marketing Data Analysis
Internal Data
Evaluate internal sources of information available to you inside the organization and
what information you will receive from each source. Identify 3-6 sources of internal data. Insert
or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Sales data
Weekly sales per
specific item.
Sales per item in US Used to understand
dollars
trend sales and plan
for future budgets.
Marketing data
Resources used for
marketing purposes
and their impact
Output vs input of
marketing resources
Can be used to
ascertain where to
put more efforts
Financial data
Production reports
Production cost
Used to make
sustainable
budgets.
Human resource data
Number of employees
and turnover
Costs of recruitment
per employee
Used to ascertain
how to utilize each
employee per their
potential
Customer data
Number of customers
and their overall
satisfaction
Number of customers
each visit and data
from survey feedback
Used to pick busier
days and recognize
opportunities and
weaknesses
Internal data is information, statistics, and trends discovered by businesses through their
activities (Grigsby, 2018). It contains data obtained from internal databases, applications, clients,
and analytics. Internal data can help firms who wish to enhance efficiency and productivity as
well as businesses that are losing money.
Secondary Data
Evaluate secondary data sources and the specific information you need from each
source. Insert or remove rows as needed.
Source
What it Measures
Data
Potential Usage
Professional journals
What is happening in
the market
environment
Qualitative and
quantitative
Understand the market
and discover a
competitive edge.
U.S Census
The population of
people living in the
country
Quantitative
To find the
demographic of people
ideal to market to in
certain areas
Commercial
Marketing Research
Data
Marketing research
Qualitative and
quantitative
Useful historical view
about the consumer
population and how it
may be evolving.
Search Engine
Results
Reputable information
online that can be
accessed for free
Online information
To assess whether to
pay for information or
not
Secondary research makes use of secondary data or the source information that has previously
been gathered either within or outside of the organization (Winston, 2014). Some secondary-data
suppliers charge marketing analysts for access to their data sources, studies, and market
intelligence.
Qualitative data is data in the form of descriptive accounts of observation or data which is
classified in a way, whereas quantitative data is data that can be expressed numerically or
classified by some numerical value (Grigsby, 2018).
Primary Data
Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove
rows as needed.
Source
What it Measures
Data
Potential Usage
Customer survey
Customer perception
Quantitative and
qualitative
How to improve on
quality to increase
market share
Focus groups
In-depth perception of
products and services
Qualitative
What product needs
to be improved and
which ones need to
be discontinued.
Interviews
Product perception
Qualitative
What product needs
to be improved and
which ones need to
be discontinued.
Fieldwork
Maret reception
Quantitative and
qualitative
To assess how well
products are doing
in the market.
Primary data is information collected by a researcher to address a specific issue or problem. As it
has not yet been gathered or it may not be accessible, it is data that is unique, first-hand and from
an original data source (Winston, 2014). The data is collected by a researcher using a variety of
techniques, such as interviews, focus groups, surveys, and observations.
Qualitative data is data in the form of descriptive accounts of observation or data which is
classified in a way, whereas quantitative data is data that can be expressed numerically or
classified by some numerical value (Grigsby,2018)
Customer Relationship Management
Establish customer touchpoints and develop appropriate CRM events for customer
acquisition, retention, and profitability. Insert or remove rows as needed.
CRM Touchpoint
Purpose & CRM
Objective
Data
Potential Data
Usage
The customer
information on the
company website
The account started
for visitors to collect
data
Descriptive
Targeted
marketing, track
new and returning
customers, assess
geographic sales
data.
Social media
monitoring tools.
To gather feedback
from followers.
Qualitative
To assess the
preferred product
Past purchases.
To gather data on
customer purchases.
Quantitative
To determine
where a customer
stands along the
buyer’s journey.
How did you hear
about us?
To understand which
marketing avenues are
driving in the highest
traffic
Referral data
For targeted
marketing
campaigns
CRM systems are created to facilitate a better customer experience. Their Analytics encompasses
all programming that analyzes and provides data about customers to enable and streamline better
business decisions (Grigsby, 2018).
References
Grigsby, M. (2018). Marketing Analytics: A Practical Guide to Improving Consumer Insights
Using Data Techniques. India: Kogan Page.
Winston, W. L. (2014). Marketing Analytics: Data-Driven Techniques with Microsoft
Excel. United States: Wiley.
1
STRATEGIC MARKETING PLAN
Lakisha Smith-Bailey
Week 2
October 3,2021
MKT/574
2
Strategic Marketing Plan: Amazon Company
Part A: Environmental Analysis and SWOTT Analysis
1.0.Company Description
Amazon is one of the American multinational companies specializing in e-commerce, digital
streaming, cloud computing, and artificial intelligence. It is among the big five companies in the
technological industry in the United States (DONICI et al., 2012). It is one of the most valuable
and influential brands across the globe.
1.1.Mission Statement
“We strive to offer our customers the lowest possible prices, the best available selection, and the
utmost convenience.”
1.2.Vision Statement
“To be Earth’s most customer-centric company, where customers can find and discover anything
they might want to buy online (DONICI et al., 2012).”
1.3.Description of the Product Line
The product lines available on Amazon’s website are several media (such as videotapes, DVDs,
software, books, and music CDs), customer electronics, kitchen products, baby products, jewelry,
beauty products, musical instruments, toys, apparel, gourmet food, scientific products, watches,
tools, games, health care products, garden products, and automotive products.
3
1.4.Company Information
Amazon was founded in 1994 by Jeff Bezos in Washington. It has its headquarters in Seattle,
Washington, United States. It is a public company. As per the 2020 report, the company had an
operating income of over 386 billion dollars, a net income of over 21 billion dollars, total assets
of 321 billion dollars, and total equity of 93 billion dollars. The company has a total number of 1
335,000 employees as per the 2021 report.
2.0.Environmental Analysis
The environmental analysis for Amazon shows the significance of expanding its business
operations into more markets to facilitate the global growth of the e-commerce business.
2.1.Competitive Forces
The company experiences constant competition from its large and aggressive competitors like
Apple, Walmart, Google, and Microsoft. These companies compete with Amazon’s technological
products and cloud services (Luo, 2020). Additionally, Amazon has its microchips used in its cloud
infrastructure, thus making intel a potential competitor. Amazon’s competitive landscape creates
opportunities for the company to keep growing its operations in various markets.
2.2.Economic
Amazon experiences economic stability from the developed countries, which facilitates Amazon’s
success in these countries. Economic stability helps to reduce the economic risks and issues in the
macro-environment, thus reducing the risks of expanding Amazon’s online retail activities. The
company also has several growth opportunities in developing countries. For instance, the increased
disposable incomes in the developing markets help to boost Amazon’s financial performance.
4
However, the potential recession in the Chinese markets threatens the business operations of
Amazon. Therefore, based on Amazon’s economic analysis, it must include growth opportunities
in developing countries when formulating its strategies.
2.3.Political
The company benefits from the political stability in the developed countries such as the United
States and the European countries. The political stability provides a great opportunity for the
company to expand its business operations into these developed countries. For instance, the
company could diversify its brick-and-mortar activities to the United States to complement its ecommerce business. The company also receives general support from the government for its ecommerce business (Sastry et al., 2019). The support facilitates Amazon to continue to carry out
its operations in relevant markets. The government also supports the company by providing a
conducive business environment through fighting against cybercrime. The political analysis
provides an opportunity for the company to expand its presence to remote areas.
2.4.Legal, Regulatory and Ethical Issues
The increasing regulations on the products are viewed to be a result of the societal demands on the
safety and security of the customers. The regulation creates an opportunity for Amazon to
maximize its efforts towards minimizing counterfeit sales on its online retail website. Additionally,
the company also has a great opportunity to grow based on the varying import and export
regulations (Luo, 2020). Moreover, it can also expand worldwide business activities to exploit the
rising ability of the sellers to access the international suppliers. The company can strengthen its
brand image by using effective corporate social responsibility policies, which help address the
increasing environmental protection regulations. Therefore, such efforts can help to facilitate the
5
company’s competitiveness in the remote and macro environment. According to the analysis,
Amazon has an opportunity to ensure its long-term e-commerce growth by using regulatory
compliance.
2.5.Technological Forces
Amazon experiences the threat of quick technological obsolescence that puts much pressure on the
company to keep developing its technological assets. However, it also creates an opportunity for
the company to optimize its business. For instance, if the company keeps investing in information
technology, it will help the company gain a more competitive advantage and protect its operations
from the new entrants in the e-commerce industry. Additionally, the company has an opportunity
to improve its performan…
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