RBP020L061A Strategic Marketing

RBP020L061A Strategic Marketing

Part 1: Introduction and Product/Service Description

The purpose of a marketing plan is to ensure that a focus on building up a provisional approach towards the existing competition is identified. In this way, strategic decisions that are made based on the existing teams are considered which can help in the successful transformation of products or services in line with the requirements of customers. In the words of Perreault Jr, Cannon and McCarthy (2021), marketing plans are made to help an advantage that has proper integration through which marketing ability can be associated with setting up the advancement so that the new requirements can be maintained.

For this assignment, the focus is on conducting a proper marketing plan to justify the improvement towards a product. As indicated by Lee et al. (2019) technology has grown immensely and with it the reliability of technology for people. Every aspect of life needs to be run by technology, which can be associated with developing a modernised approach for people. The improvement is to be made on the firesticks that are manufactured by Amazon as a form of TV remote. The suggested improvement is to ensure that the firestick is used in securing a multi-purpose use around the house.

The reason for this product to be improved is that it can help in building up a single-use system for all-purpose of everyday life. This can well be regarded to have a significant impact in the way to help secure the fundamental opportunity to transform the lives of people in high society. Amazon can build the remote to help manage the existing form of lifestyle and think about the ways in which the future can be secured. Hence, in this way, the assignment tends to highlight the STP for the product and justify the utilisation of the marketing mix to secure its existence.

Part 2: A Critical Analysis of the Market Context

Key market trends

The market trend that can be associated with the growth of the firestick ranges from different spheres of life. The figure provides an idea of the top developed countries where the firestick can be implemented in the markets, which are regarded as influential in setting up growth. As evidenced from the figure, the growth trend in the market of these developed countries has advanced significantly and can well be regarded to commence further with the choices that are made in the future.

As stated by Doole, Lowe and Kenyon (2019) the firestick can be regarded as one of those advanced mechanisms through which improvement can be initiated in setting up the course to help development of the society. From the figure, an assessment of the future is made that can allow the firestick to be able to commence with facilitating information on the trends that are in existence. According to Pride and Ferrell (2022), this can be regarded as a way to secure the assessments through which Amazon can bring about a steady approach to the existing competitive advantage. The company can implement strategic changes based on the trends for the future.

Key competitors and positions

The firestick have been able to bring about improvement towards the ways with which remote control can be used. However, while Amazon has been able to develop dominance with the firestick competitors have risen to secure the market share. According to Krakowski, Luger and Raisch (2023), existence of competitors can be a blessing as it can help improve the marketing elements through which strategic formation can be made. However, Juchniewicz and Łada (2020) pointed out that the direct competition majorly exists in the form of substitutes that can be used by the customers. Companies like Roku, Apple and Chromecast can be regarded to set-up devices that can be competitive against Amazon.

The reason for this is that the companies have managed to develop firestick that can control a significant part of a smart home. For example, the device developed by Roku provides opportunities in the TV viewing department without subscription and can control Alexa. Voice control can be made which makes the commanding for change even simpler. As stated by Azeem et al. (2021) this can well be a way to influence the customers in selecting multi-purpose firestick over the already existing products. Amazon firestick will have to make serious competitive advancement towards the market.

Current customer attitudes/behaviours in this market

Currently, the firestick is used in a limited way. People owning smart TVs are inclined to use the Firestick as an alternative to the traditional remote. One of the areas that the organisations can focus on is the positivity that has been displayed. In the words of Khairawati (2020), the firestick is a modern-day device and hence maintaining the stability of the change of control is implemented. Thus, customers are well in control of the ways through which the firestick can be utilised in setting up control over the TV.

This can be a way to seek the presence of alternative ways through which customer satisfaction can be regarded. In this way, the acceptance of the firestick can be a way to secure the control of the ability to purchase from the customers. According to Rita, Oliveira and Farisa (2019), such are the ways with which the organisations and manufacturers of the product can manage to secure the practises that are inclined to help in the transformation of the business. In this way, the opportunities for development are regarded as immense for the organisations. Positive behaviour is a sign of encouragement from the point of view of the future of the products.

Main issues/opportunities

The firestick development for all-purpose implementation can have significant negative and positive impacts. The issues and the opportunities that seem to be in existence in this case can be a way to comprehend the techniques through which customer advantage can be sought. In the words of Krizanova et al. (2019), one of the main issues that can be regarded in this case is the assessment of the devices to which such devices can be linked. Not every person has the luxury to transform the home into a smart facility to acknowledge the purchase of this product.

Thus, while the opportunity seems to help bring about a transformation of homes, the issue is that many expenses are to be board that can set up the use of the firestick. Along with this Chen and Wang (2019) pointed out the fact that the firestick has the ability to maintain a modelling approach through which hands-free command can be provided. Thus, customers using the Firestick can have the option of backup related to the operations of the TV and any other technological sets. This opportunity can allow Amazon to build on the product identified and secure the setting required for growth.

Part 3: Segmentation, Targeting and Positioning (STP)

Base(s) of segmentation used and justification

The bases of segmentation that are to be used for securing proper marketing plans involving customers are behavioural, geographical, psychographic and demographical. As indicated by Adıgüzel (2020) these form the basis of the strategic position of a product or service and bring about an assessment of the demographics that are involved. Thus, the factors can be a way to help influence the overall marketing segmentation and ensure that every customer is approached based on the type of products that are in existence in the market.

The justification behind the selection of these segments is that it can help in maintaining the balance through which customer identification can be madẹ. In the case of the firestick and the improvement for all-purpose engagement, the segmentation largely needs to be associated with the lifestyle that is led by customers. As indicated by Goncharova, Solosichenko and Merzlyakova (2019) the firestick is a modern technological approach that can be regarded to play a secure approach towards the well-being of the smart lifestyle. Further justification of the segmentation is provided to help bring about an assessment of the criteria through which the marketing plan can be regarded as successful.

Include size, geo-demographic, psychographic, behavioural aspects

The STP analysis of the use of the firestick can be analysed in setting up the provisions that are associated with the market. The STP covers all the areas that the improved firestick can cover and the possible demographics through which such a feature can be regarded to play an imminent role in the existing market. The table below helps in acknowledging those areas that are related to securing the competitiveness of the product and with it helps settle the customer-centric approach that is to be executed. The firestick needs to be associated with reliving the facilitated outcome of the target market.

Table 1: STP of Alexa

(Source: Created by author)

Summarising the profile and persona of target market

A persona is created of an individual customer to provide a backdrop of the requirements that Amazon Firestick need to implement. The persona is to help in understanding the area of expertise through which an individual can be regarded to play a major role in the proximity for the situation to escalate. Hence, in this way, a customer profile is provided that can help in setting up an assessment of the situation of the market for the firestick.

Table 2: Persona

(Source: Created by author)

Including a statement that identifies why target market should buy the improved product or service

The target market as identified need to be associated with setting up the course through which such products can be used for the future. The smart home is considered a modern way of setting up a new lifestyle. According to Goenadhi and Rahadi (2020), such is the impact that the household and use of firesticks can be made relevant towards setting up the functions of an organisation. This can well be regarded as bringing about the association of the target market to understand the product and use it for the betterment of its facilities.

An important element in this case is the association through which Amazon can be regarded to play a massive role in commencing with the changes in the market. The facilitated outcome of Amazon is a way to segregate the policies that transform the technological impact. In the words of Hosseini, Tammimy and Galavi (2022), such is the opportunity through which Amazon, can aspire to allow customers to attend automatic control of every facility at home. Thus, luxurious living at home can be the motivation for the target markets to be part of the purchase process and evaluate the existence of the new range of product facilities.

Part 4: Recommended Extended Marketing Mix

Traditional marketing mix elements

Product

For an organisation to succeed, it is necessary that the product be identified and communicated with the customers for significant development. However, as indicated by Darmawan and Grenier (2021). The firestick needs to be such that it can help in setting up the provisions through which feedback from the customers can be gained to secure the usefulness of the products. Amazon can secure feedback and customise the firestick that suits the customers. This can well be regarded as dominant in the quest to help fathom the existing impact through which the product can be dominated. The successful launching of the product can be associated with the overall timing associated with the organisational balance. Therefore, such an imposition can be severe for organisational dominance. As understood by Hanaysha, Al Shaikh and Alzoubi (2021) the process can be a way to secure the detailed approach necessary for setting up customer-based products.

Place

Amazon operates from online stores and hence physical stores are not known to be in existence for the company. Thus, this needs to change for the company to commence with changes in a way that can help in securing the details of the firestick. According to Yasa et al. (2020), this can allow the company to be able to bring about an association of the global market range through which Amazon can be considered to have a prominent understanding of the value imposed and address the necessary changes as and when required by the customers. Kumar, Paul and Unnithan (2020) pointed out that Amazon could provide instant assistance to the customers trying to use the product and hence secure a wide of assessments through which secured importance in the market can be in existence. This can be a huge way for Amazon to be able to maintain the criteria needed for success in the competitive market and to implement the strategy.

Pricing Strategy

The pricing strategy can be regarded as quite simple for the product. The target customers have already pointed to the fact that people with high lifestyles are the ultimate source of revenue earning. In the words of Sudari et al. (2019), this can help in setting up the overall opportunity through which a detailed assessment of the prices can be managed. The opportunity in this case is to set up a high price and not use any form of price bundling or scheming strategy. As indicated by Rajavi, Kushwaha and Steenkamp (2019) this can be regarded as a risk for the organisations and hence can well be represented in securing the possibility of success through which high-class people can be involved in setting up the strong revenue factors. Therefore, in this way, the pricing strategy can be a way to secure the investment required for maintaining the practises through which improved innovative ideas can be set up.

Promotional Strategy including Digital Media

For Amazon, the promotion of the firestick can be made in an effort to help maintain the awareness of the customers. The company can signify the existence of the firestick and its use by promoting its use in social media. As stated by Chou et al. (2020) this can help the company gain an extensive understanding of the market and bring about an opportunity for development. Social media can be a way to help secure the attention of customers. Amazon can use digital media in the form of Facebook, Instagram, YouTube and TikTok to ensure that the digital media can reach every audience. Hence, as prompted by Dost et al. (2019) this can be a way to secure the promotion of the new products and ensure that the high lifestyle people are well aware of the way this product can be used. Such is the understanding that can be made.

Channel or Distribution Strategy

The distribution channel can be regarded as playing another crucial point for Amazon. In the words of Pride and Ferrell (2022), direct assessment of the customers is critical for an organisation to prosper. In the case of Amazon and the firesticks, it is necessary that the company workers engage in providing the product as per the needs of the customers. Hence, in this way, the overall contribution made by the company can well be distributed towards setting up the customer base approach while engaging in the distribution. While the Amazon distributors are targeted, it is also necessary that the technicians be assigned to help Amazon contribute towards the foundation of the firestick. Thus, in this way, as suggested by Paley (2021) this can be one of the ways in which Amazon can be related to secure the marketing premise and distribution of its products among the customers.

Services marketing mix elements

Process

The process for setting up the products needs to be made. However, as understood by Sarkis (2020) in the case of the firestick this process can be regarded as irrelevant mainly because the manufacturing of the component cannot be replicated to help secure a better marketing position. According to Leng et al. (2020), strategic improvement can be made only in the case of the product not being able to secure the study of technological aspects through the process of developing the market factors. Hence, in this way, the service provided in the market is a ways to secure an assessment of the current market position. In this way, the superiority of the imposed factor can be maintained thereby setting up the range of promoting the factors included in the marketing opportunities. This is regarded as relevant in this case as the firestick seems to have an independent idea of the manufacturing process.

Physical evidence

The collection of physical evidence is needed in this case to secure the prominent area of a target market. In the case of Amazon, the firestick can be regarded as playing a dominating role in the quest to help the essential manufacturing process as well as to test the products before making a purchase. According to Marshall and Johnston (2019), this is regarded as one of the areas that Amazon as an organisation can look to work on so that the overall feature can be a way to secure the momentum associated with the company. Hence, in this way, Amazon, need to build prototypes of opportunities for people to understand the mechanism of the product before making an investment. This can be regarded as playing a huge role in the quest for setting up the promotional practise associated with the company. This change can be regarded as mandatory for Amazon for the Firestick to be successful.

People

The people are the ultimate element that needs to be satisfied. As pointed out by Huang et al. (2020) enhancement of the product is to be made in setting up the overall imposition through the strategic marketing change. Thus, in this way, for the firestick, the feedback of the people is to be kept in mind so that the degree of competitiveness can be managed. In the words of Stark (2022), such is the highlight that the firestick can provide in setting up the all-purpose implementation of the products. Customised products based on the choices made by the customers are the way forward in the quest to set up the marketing elements. Such is the importance that can be derived in the way to maintain an imposing opportunity in the market. Thus, targeting the product based on the people’s requirement seems to be in existence for the rise of the firestick in the competitive market.

Part 5: A discussion of Implementation Issues

Implementation of new technology in a market cannot be undertaken in a rapid manner without having to understand the features that seem to be in existence for securing the basis for improvement. The association have to be such that it continues to bring about positivity among the people rather than any form of issues. It is thus, necessary to ensure that identification of the issues is made. One of the major issues can be the way people tend to use the firestick. A lack of understanding of the use can be a way to face issues related to the product.

Firesticks of competitors of Amazon, especially Apple have been able to design products that are for more than one purpose. However, the issue had been the knowledge of the people and setting up the price. Despite the world being at change, the implementation of a technologically dependent product cannot be secured in the quest to help secure such an establishment. Thus, organisations have no idea about the professionals to hire and the prices to set for launching such products. Customers thus, remain sceptic of the purchase to be made and in the process fail to understand the situation that exists.

Another implementation issue is the place. While Amazon is usually regarded to be involved in online services, the introduction and launch of the new and improved firestick can be made offline. This can allow the physical evidence of the marketing mix to take effect and customers can well be regarded to have a significant understanding of the position that this firestick has in the current world. In other words, the demonstration of the firestick for all-purpose can be portrayed during the purchase made. These issues can bring about faults in the implementation process and make the product unusable.

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