Each year, the Interbrand consultancy complies a ranking of global brands. In 2010 Amazon Inc. was valued at $9,665 million and in 2014 they were valued at $29,478 million. How and why has the brand’s ranking changed? Identify and provide reasons that explain such changes. Consult additional sources (e.g., articles from print media, annual reports, the company’s Web site) to enhance your understanding of the factors and forces that contributed to the brand’s move up or down in the rankings. Please explain your conclusion by applying relevant concepts you learned from this course. Please cite sources!
Answered Essay: Each year, the Interbrand consultancy complies a ranking of global brands. In 2010 Amazon Inc. was
Expert Answer
Solution:
Amazon strategy:
- The orders at Amazon website are placed via a systematic email log in. It not only allows us easy order placing method and gives the customer smooth experience. Its system also keeps track of our past orders, addresses and recommends linked products. While other online sellers are yet to reach where Amazon is placed currently.
- Amazon has been a pioneer in bringing up the concept of customer reviews and comments. This gives other customers a fair idea about the product that they are about to purchase. Often consumers make buying decisions based on the reviews. Their review collection techniques are also quite distinct and hence reliable.
- Amazon’s Prime program has been one of the major reasons among others which increased brand loyalty. Customers feel privileged as it gives them special treatment in terms of speedy shipments and so on.
Amazon has adopted a strong marketing strategy by putting people first and it has definitely increased their stand and capture in the market.
