MARKETING MANAGEMENT INDIVIDUAL PROJECT (MMIP) ASSIGNMENT

Running Head: DISCOVER MARKETING MANAGEMENT 1

DISCOVER MARKETING MANAGEMENT 5

Comment by Keith Starcher: Learn how to create a running head that meets APA 7th edition format standards. Running head is now the same on every page --- in ALL CAPS left-justified. See the example in one of my announcements.

Use Information to Drive Marketing Decisions (Chapters 4-7)

MMIP Questions

Amazon Prime Video Company

Q1. Discuss your use of marketing research to be used to gather information on present or potential customers. Which forms of marketing research would be best in gathering consumer information relating to the product /service? Comment by Keith Starcher: Eliminate the question format and use appropriate headings to guide the reader.

Marketing is the heart of the relationship between the company and the customers. Marketing research is essential to know the customer's feedback and to evaluate the external competition. There are various ways by which Amazon Prime Video does marketing research, and the companies can gather the information. There are two types of marketing research, i.e., internal marketing research and external marketing research. The internal information system includes customer orders that involve the operations documents. The customer orders and the frequency of their orders inform Amazon about the loyalty of customers. Comment by Keith Starcher: To which companies are you referring? Comment by Keith Starcher: Work on the use of possessives.

The customer's payments from financial records, marketing plans, customer inquiries, and salesperson information systems are used to acquire the customer information for marketing research. Some external sources are used to get the information, including economic conditions, competition among companies, geographic changes, environmental and natural conditions, technology information, and political issues. These sources are used to collect the customer's information, and it is further used to improve performance and efficiency. For example, the company is necessarily required to know about the political conditions and competition. The competition among different companies gives the idea about others' strategies and brings innovation to the company (Pansari, 2017). Comment by Keith Starcher: What you describe are external factors, but these are not marketing research sources, per se. For example, how does the company gather market research information on economic conditions? Please fix this for the final MMIP paper. Thank you. Comment by Keith Starcher: they are further Comment by Keith Starcher: You did not answer this part of the assignment prompt. Which forms of marketing research would be best in gathering consumer information relating to the product/service? (Ch.4) Here you could discuss survey methods, observational research, etc. I look forward to reading your revision in the final MMIP paper in week eight. Thank you.

Q2. Explain several external forces that affect your marketing planning and strategy.

The external sources play a significant role in affecting the marketing strategy and the research. The first thing that might affect the marketing strategy is the increased competition. Amazon prime Company intends to plan the strategy annually, but the competition ratio is usually unpredictable, and management cannot foresee the competition intensity in the future. So, the competition in video companies is essential to determine by the company. The demographics of the targeted population, including their purchasing power to different subscription packages, culture, tradition, ethnicity, and lifestyle, also impact the marketing strategy. The company must see what movies and films are to be introduced in a specific region. Comment by Keith Starcher: External sources play Comment by Keith Starcher: Delete both “the.” Comment by Keith Starcher: What do you mean by “competition ratio?” Please define. Comment by Keith Starcher: Rewrite for clarity. Please read your work out loud to yourself to improve the clarity of your writing. Make it easy for your readers to follow your logic. Comment by Keith Starcher: How do you know this to be true? Cite a source.

Similarly, the political and legislative conditions are essential because some movies are restricted in different countries, so the company needs to consider it. Still, it gets disturbed if the political environment changes or brings new information for the video companies. The natural environment also affects the marketing strategy of companies/. For example, the coronavirus has affected almost all companies and industries, but as people were free, they were highly interested in buying various Amazon Prime Company packages. It has planned to see how the marketing research can entertain more customers in a challenging situation. Moreover, it is further seen that countries' economic conditions also play a significant role in marketing research (Wells, 2018).

Q3. Discuss the aspects of your customer relationship management (CRM) program.

There are various aspects of customer relationship management, and they have an essential role in Amazon Prime Video's success. Customer acquisition is necessary to identify the right audience. it is the first aspect contributing to Amazon's success. For example, if the company does not identify the right audience, the sales profit will be less because it will buy fewer packages. The company will have to face the loss. Customer retention is the next aspect that allows the company to adopt the measures to retain customers' satisfaction and trust. The customers must get the updated information about the products, and they need top-quality services to build trust. So, the company requires strategies to maintain the customer's trust. Comment by Keith Starcher: It is Comment by Keith Starcher: To what does the pronoun “it” refer? Take advantage of the Writing Help Resources provided by the University. You can improve the clarity of your writing.

Customer loyalty is another aspect in CRM associated with the customer's profitability and the delivery of products at the right time. All these aspects play a considerable role in building the relationship between Amazon Prime Video and the customers. CRM allows the company to do marketing research by collecting information from the customers about their choices. It is further said that knowledge discovery and customer interaction are also crucial in CRM (Vukšić, 2015). Comment by Keith Starcher: You provided no real details about Amazon’s actual CRM program. Please conduct relevant research and rewrite this section for the final paper. Thank you.

Q4. Explain which consumer characteristics (personal, psychological, cultural, situational, social) matter most in the purchase decision.

I think personal characteristics play an essential role in making the customers' purchasing decisions of movies and other stud because they are usually bought according to individual choices. The lifecycle process is at the priority to impact the option of watching movies and shows. For example, as the customers get aged, the decision and pattern of watching videos also change. The aged people want to watch simple programs and soft music while the young generation has different choices like thrilling videos and dancing shows. Similarly, culture and religion are personal matters, and both influence customers' purchasing decisions. They will not watch anything prohibited in their religion. Comment by Keith Starcher: Assignments are to be written in third person. Writing in third person is writing from the third person point of view and uses pronouns like he, she, it, or they. It differs from the first person, which uses pronouns such as I and me, and from the second person, which uses pronouns such as you and yours. https://owl.english.purdue.edu/owl/resource/560/15/ Comment by Keith Starcher: “stud” -- ????? Be sure to read your paper out loud to yourself to improve clarity and eliminate writing errors. Comment by Keith Starcher: as customers age, Comment by Keith Starcher: How do you know this to be true? Cite a source.

For example, people from the Middle East will not prefer to watch adult movies and other porn material if prohibited in their religion. The ethnic groups that are forbidden to watch intra-religion series will not purchase religious videos. The family is another critical unit that affects the movie's choice because families' limitations are different, and the people must watch the stuff accordingly. Moving on, another aspect is known as purchasing power that helps the customers make the decision. If the subscription package is pocket-friendly, the customer will buy and vice versa (Stankevich, 2017). Comment by Keith Starcher: Why did you start a new paragraph? This argument is a continuation from the last paragraph? Working from an outline will help you develop a clear, logical flow to the arguments in your paper. Make sure each paragraph has a topic sentence. Then support the argument(s) within that topic sentence throughout the paragraph.

Q5. Explain how the product/service is positioned in the market. Create a positioning statement for the product/service and explain its rationale.

The companies select the strategies for communication and offering the products to the customers, and the process is known as positioning. Positioning connects the needs and desires of customers to what the company is providing the product. There are various ways by which the product can be positioned. Amazon Prime Video uses perceptual maps that help to set the product. These maps are used to compare customers' strategies against the decisions made for the company's product. The products are further positioned by using effective leadership to position the product in the market. The innovative strategies by the customers also help the company to decide the right positioning. Comment by Keith Starcher: Rewrite to improve clarity.

There are various positioning types, including positioning by attributes, by competition, by users, product class, and product quality. The positioning statement is the one that defines the value of the product for the customer in the market. A positioning statement refers to bring innovation to watch movies and TV shows. The company intends to provide the world's best experience of movies and shows to customers. The positioning statement is the most influential marketing tool for the company and attracts several customers (Wayne, 2017). Comment by Keith Starcher: Please use the positioning statement template that I offered in my announcements. The positioning statement must include the target market, key benefits sought by the target market, and evidence that your product/service is supplying those benefits in a unique way. Please fix this for the final paper. Thank you.

Refe rences Comment by Keith Starcher: Please follow the APA format requirements for the Reference page. (alphabetical order)

Wells, J. R., Danskin, G., & Ellsworth, G. (2018). Amazon. Com, 2018. Harvard Business School Case Study, (716-402). Comment by Keith Starcher: Where are the practitioner sources suggested by the rubric (e.g., Wall Street Journal, Fortune, etc.)? The Liberty Library can help you learn how to use databases to find these sources.

Pansari, A., & Kumar, V. (2017). Customer engagement: the construct, antecedents, and consequences. Journal of the Academy of Marketing Science, 45(3), 294-311.

Stankevich, A. (2017). Explaining the consumer decision-making process: a critical literature review. Journal of International Business Research and Marketing, 2(6).

Wayne, M. L. (2018). Netflix, Amazon, and branded television content in subscription video-on-demand portals. Media, Culture & Society, 40(5), 725-741.

Vukšić, V. B., Bach, M. P., Garrido-Moreno, A., Lockett, N., & Garcia-Morales, V. (2015). Exploring the role of knowledge management practices in fostering customer relationship management as a catalyst of marketing innovation. Baltic Journal of Management.