Amazon leads the pack with its innovative approach to online retailing. Not only is it tightening its grip on the ecommerce marketplace, but the thought leaders at Amazon are in the process of reinventing the very essence of ecommerce and our life online.
This success is attributed to stringent measures to ensure that the vision and mission statements are fulfilled. In theory, the corporate vision statement provides organizational direction toward a desired future condition of the business.
On the other hand, the corporate mission statement presents business goals and guides strategic management in the company.
The scope of the selection of products available from the company is a business strength identified in the SWOT analysis of Amazon.
The fulfillment of these official statements facilitates further enhancement of the e-commerce business for long-term success in the global market.
Considering the variety of its products, which include online retail services, digital content distribution, cloud computing services, and computer software and hardware, Amazon. The company focuses on the variables of price, selection, and convenience.
A corresponding strategic objective is to reduce operational costs to enable the business to minimize prices. Thus, a corresponding strategic objective is global expansion, especially through market penetration and market development, which are included in Amazon. This consideration agrees with Amazon.
Moreover, the corporate vision indicates continuing efforts to broaden the product mix. For example, the company includes target customers and market, variety of products, and basic business aims pricing and convenience in the corporate mission.
However, the company does not include technology and the nature of the business and its operations. In this regard, it is recommended that Amazon add details in its corporate mission to give employees and investors a better idea of what the company is all about. However, this corporate vision satisfies only some of the conventional characteristics of ideal vision statements.
Still, this corporate vision is not stable enough to ensure its suitability in the future of the business.
Thus, it is recommended that Amazon improve its corporate vision statement by adding these details about such businesses to make the statement comprehensive in reflecting the future state of the corporation.What is Marketing: marketing management for beginners (Black & White version): Step-by-step guide to the principles of marketing with focus on customer satisfaction & customer loyalty.
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From The Community. Amazon Try Prime All Principles of Marketing Plus MyLab Marketing with Pearson eText -- Access Card Package (17th Edition) Mar 23, | Student Edition. by Philip T. Kotler and Gary Armstrong.
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This book is a great balance of technical recommendations and principles/approaches to digital marketing. In digital marketing, I think we have a tendency to quantify everything and forego theories.
This book roots the work we do—it exemplifies high level thinking in an often automotated world. Marketing refers to the efforts that a firm makes in order to sell its product.
Without proper marketing, a product cannot be sold in the market even if it has good features. Some of the elements of marketing principles are as follows: Integrated marketing-It is a way of marketing in which several channels of communication are used by the firm /5().