Tuesday, May 5, 2020
Driving Competition or Market Monopolization Ã¢â¬ MyAssignmenthelp
Question: Discuss about the Driving Competition or Market Monopolization. Answer: Introduction This research program has been executed on the topic Brand Management Strategy of E-Commerce: A study of Amazon. Brands are being used the companies for providing a unique place to the products or services in the market. This research program will help in developing knowledge of the brand marketing strategy. Brand management strategy of Amazon will be discussed which have contributed towards the growth and success of Amazon. For the purpose of providing valuable information, different methods or approaches will be used. The research objective is decided for the purpose of setting goals which need to be attained from the execution of the research. This research program has been conducted with a motive to evaluate the marketing plan and brand marketing strategies which are being followed by Amazon. The purpose behind adopting this marketing plan and brand marketing strategies is to increase the sales as well as the expansion of the business. This research is being conducted for identifying the new and innovative marketing strategies which can be adopted by Amazon. Understanding will be developed regarding the branding and the brand image of Amazon. The discussion will be made regarding the use of the digital media and traditional media plans for the marketing of the business through e-commerce. Amazon is operating in the E-commerce industry and is focusing on the expansion of the business with the help of effective marketing strategies. Marketing has been used for the purpose of creation of the brand image. Changes in the marketing function are taking place in accordance with the change in the requirements of the customers of the business. The focus of the marketing strategies is on use of digital social media (Brown and Dant, 2014). Digital marketing has been used by companies which have enhanced the relationship of the business with the customers. It has promoted transparency and consistency. Size of the industry and business helps in determining the marketing and branding strategies of the business. There is a need to spread brand awareness among the public. Marketing has helped businesses in communicating with the customers (Buil, et. al., 2013). According to Haucap and Heimeshoff (2014), marketing mix and its elements are being used by the businesses for enhancing the growth of the business. Pricing strategies of Amazon have enhanced the chances of growth in the industry. Willingness to pay for the customers helps in making decisions regarding the discounting policy of the business. Digital social media has also contributed towards the attainment of the objectives of the business. Amazon is providing a platform to the suppliers to sell its products or services to the customers. The twofold platform is the part of the marketing strategy of Amazon. Mobile technology has enhanced the growth chances of Amazon as the free application has been used by the company for offering products or services to the customers. Market segmentation strategy has been used by Amazon which has helped in targeting the market in a better manner (Sharma, 2015). Research questions/Hypothesis Primary question What is the importance of marketing plan and brand marketing strategy for the business? Secondary questions What is the impact of brand marketing strategy on the performance of the Amazon? Which factors have motivated Amazon to use brand marketing strategies? Hypothesis Brand marketing strategies have enhanced the chances of growth and expansion of the business. Marketing has diverted the focus of business from the other functions of the business. Research design and methodology This section of the research develops knowledge of the various methods or approaches which will be adopted for the completion of this research program. For the execution of the research, there is a need to gather quality data. Research design or method: quantitative research method has been chosen after analysing various available research methods. This research method has been selected with a motive to gather quality data for the achieving the objectives framed for the research. The quantitative method uses primary and secondary methods of data collection for gathering the relevant data for the research program (Patel, 2009). Research approach: quantitative research approach has been selected after evaluating different approaches available. This approach will help in gathering reliable data for the execution of the research (Acaps, 2012). Data collection: a collection of data is an important aspect of the research which forms a base for the successful completion of the research. Primary and secondary methods of data collection have been chosen for this project. The motive behind the selection of these methods is to gather data in large quantity and updated data (Mwamadzingo, 2011). Data which is available in raw form and is collected from the respondents directly is termed as primary data. Secondary data is the second-hand data which is gathered from the reliable sources (Lehman, 2011). Procedures and techniques: a technique will be adopted for the analysis of the collected data. Random sampling technique will be adopted which will ensure that data is analyzed within the limited time frame and limitations are not creating an impact on the execution process of the research (Etikan Bala, 2017). Data analysis: this research program will be based on the quality data collected on the basis of the primary and secondary data. Analysis process will be initiated with the use of random sampling technique. This technique has been selected with a motive to analyze the data effectively and forming a conclusion. The analysis is an important part as the relevancy of the data can be maintained with analysis of the data. Research strategies: strategies are adopted for conducting the research in a proper manner. A systematic approach will be applied by the researcher. A sequence has been developed on the basis of the systematic approach. Choice: it is vital to select the methods or approaches after proper analysis so as to ensure that most suitable alternative has been selected by the researcher. Research time frame: this research has been divided into different activities on the basis of which actions will be taken for completing the research. It is vital to conduct the research within the time allocated for maintaining the relevance of the research. Collection of data and targeted market: targeting market is the process of identification of the source from where information has to be gathered for conducting the research. Decision has been made regarding the methods for data collection and as per the decision, primary and secondary sources will be applied. A questionnaire is to be prepared and distributed among the respondents. Different internet sources have been targeted for gathering secondary data (Lowry, 2015). Ethical consideration: the term ethics is the bifurcation between the right and wrong. Ethics will be considered during the execution of the research program. The motive behind adopting ethical values and principles is to ensure that research is conducted in a fair manner. Principle of honesty, fairness, confidentiality, and integrity will be adopted during the initiation and completion phase of the research. Research limitations There are few factors which have the potential to affect the research process. These factors need to be dealt in a proper manner for eliminating the impact of these factors on the research. Below are the limitations which can affect the completion of research: Availability of short span of time: time available is fixed and all the activities of the research are required to get completed within the time allocated. This is done with a motive to maintain relevancy of the program. Lack of control on the sources of data: data collection sources need to be identified for gathering quality data. For coping with this limitation, focus will be on primary and secondary data. Lack of resources: success of the research is dependent on the optimum utilisation of the available resources. Resources have been used in the most appropriate manner. Research Schedule (Research plan) Serial number Activities Starting date Duration (in Days) Date of completion Details A Initiating research topic process 13 September 2017 2 14 September 2017 During this activity, decision will be taken regarding the topic on which execution of the research will be done. B Constructing plans for the research project 15 September 2017 5 19 September 2017 Plans will be constructed for executing the program for the attainment of the objectives. C Initiation implementation process of the plans 20 September 2017 7 26 September 2017 During this activity, actions will be taken regarding implementation of the plans developed. D Making decision regarding the data collection methods 27 September 2017 1 27 September 2017 During this activity, decision will be made regarding the selection of method for data collection. E Analysis phase 28 September 2017 9 06 October 2017 Analysis of the data will be initiated in this phase. F Analysis of the collected data 07 October 2017 6 12 October 2017 The analysis will be made of the collected data for evaluating the data. G Conclusion and recommendations 13 October 2017 2 14 October 2017 Conclusion will cover key aspects of the research and recommendations will cover the aspects which will form base for future research. Conclusion Thus, it can be concluded from the above discussion that Amazon is performing well in the industry. It has adopted effective marketing strategies for the expansion of the business. Competition in the E-commerce industry is increasing and for coping with this issue, marketing strategies need to be followed by the company. Market segmentation strategy has been used by Amazon for reaching the targeted market. Marketing mix has been adopted for enhancing the brand image. References Acaps, 2012, Qualitative and Quantitative Research Techniques for Humanitarian Needs Assessment, ACAPS. Amazon, 2017,About Us, [Online] Amazon. Accessed on: 14 September 2017. Available at: https://www.amazon.com/p/feature/rzekmvyjojcp6uc Brown, J.R. and Dant, R.P., 2014, The role of e-commerce in multi-channel marketing strategy. In Handbook of Strategic E-Business Management, Springer Berlin Heidelberg, pp. 467-487. Buil, I., De Chernatony, L. and Martnez, E., 2013, Examining the role of advertising and sales promotions in brand equity creation,Journal of Business Research,66(1), pp.115-122. Etikan, I. Bala, K., 2017, Sampling and Sampling Methods, MedCrave. FBA Allstars, 2015, The 6 Keys to Consistent Amazon Sales ALL03, FBA Allstars. Haucap, J. and Heimeshoff, U., 2014, Google, Facebook, Amazon, eBay: Is the Internet driving competition or market monopolization?,International Economics and Economic Policy,11(1-2), pp.49-61. Lehman, L. S., 2011, Introduction to Data Collection, NACCHO. Lowry, L. D., 2015, Bridging the Business Data Divide: Insights into Primary and Secondary Data Use by Business Researchers, IASSIST. Mwamadzingo, M., 2011, Techniques for data collection, ILO. Patel, P., 2009, Introduction to Quantitative Methods, Empirical Law Seminar, Harvard. Sharma, S., 2015, Internet Marketing: The Backbone of Ecommerce,International Journal of Emerging Research in Management Technology,4(12), pp.200-202.