This article from the WallStreet Journal especially stood out for me, because who doesn't love Amazon or online shopping in general. The e-commerce giant, Amazon, is taking over the market. The easy access makes it possible to buy almost anything on the internet and having it arrived to your door steps in the next 1-2 days. The author of the article described, "if Amazon were an animal, it would be an octopus. Its tentacles are in retail and grocery stores, consumer goods and electronics, home services, streaming media, cloud computing and publishing—to name just a few". This article explain the wide variety of products that Amazon carries, making traveling to the clothing or grocery store, to just a click of a button. The author explained that, "this past week, Amazon has been in my kitchen (an Echo Show lives there), my living room/bedroom (Echo Look, Echo Plus and Cloud Cam), my phone (six apps make my Amazon life run) and my stomach (Whole Foods). I used around two dozen products and services from Amazon and its partners. I even ordered a three-pack of Amazon’s house-brand underwear". The wide variety of Amazons products is unlimited.
Furthermore, Amazon uses demographic and psychographic segmentation in order to segment the markets. Their segmentation is based on actual purchase behavior, for example, what people expressed interest in. Amazons segmentation, targets each customer individually, allowing the company to convert visitors into long term customers. Overall, Amazons primary target market is the middle and upper class people who have experience in basic technology and don't have time or even like the convenience of Amazon, over physically shopping from outlets. Amazon also expressed that their mission is, "to be the Earth's most customer centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices".
https://www.wsj.com/articles/its-amazons-worldbut-do-you-want-to-live-there-1512586126
Great article! I agree, Amazon's wide variety of goods and convenience has made it almost a staple to the modern household. Originally, Amazon was primarily used for hard to find items or Christmas shopping. Now, we even buy groceries from Amazon, it has diversified its product over the last few years.
ReplyDeletePersonally, I find it amazing how Amazon has diversified over the years! From amazon video, to amazon pantry, to Alexa simplifying things at home, Amazon keeps growing and diversifying to expand its target market.
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