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MARKETING
Marketing: An International Company to Research
Company Target Market
Amazons target market comprises middle and upper-class consumers aged between 18 to 44 years, and the same is predicted for 2022 (Query Sprout, n.a.). The target consumers are those who have computers, smartphones, laptops, or iPads. 60% of them reside within the United States. The attributes Amazons target consumers are looking for are online shopping with convenience and affordable prices, and quick delivery.
Social-Economic Make-Up of the Target Consumer Base
The annual household income of Amazon consumers is $84,449, whereas most of the buyers are 46-year-old women on average. Young consumers are more likely to click on ads generated by Amazon, which account for up to 43% of the consumers (Radic, 2022). It is mostly done on Facebook, which shows social media is more popular for marketing among the younger generation. Also, the target consumers may be on any life cycle stage of their lives, like a full-nest, single, empty nest, solitary, etc. (Blackwood, 2021). The occupation of the Amazon users could be students as the young generation is a major target consumer and professionals.
Society and Consumer Cultures of Target Market
Since Amazon is present in more than 100 countries worldwide, its customers belong to diverse cultures. They are from both rural and urban areas of their respective geographic regions. The society they belong to is the normal community, such as families with children, retirees, college-going students fond of using social media, divorcees living alone, etc. (Blackwood, 2021). The consumers could be loyal ones and those who keep switching between brands in search of convenience and competitive pricing. They could be strugglers, explorers, aspirers, etc., showing that the customers belong to any lifestyle part of their culture (Blackwood, 2021).
Political, Legal, and Regulatory Environments of the Companys Target Market
Since most...…the products to its retail destinations (Knowledge at Wharton, 2018). In other countries, it has fulfillment services that make the products available at the retail shops for the final consumers.
Annual Revenue
For the year 2021, the sales revenue generated by Amazon was more than $469 billion (Coppola, 2022).
Estimated Number of Employees
Within the US, Amazon hired 1.1 million people in 2021, which was an increment of 18% as compared to the past years workforce (Bishop, 2022). Worldwide, 1.6 million employees were hired in 2021, 24% more than the previous years hiring rate.
Diversity Demographic Information
The latest data from Amazons website is for the year 2020 that shows diverse demographic information for its workforce, which is as follows:
Global workforce: Men (55.4%), Women (44.6%) (Amazon, 2021)
United States: Men (53.1%), Women (46.9%)
US race/ ethnicity: White (32.1%), Asian (13.6%), Black (26.5%), LatinX (22.8%), Multiracial (3.6%) and Native Americans (1.5%)
References
Amazon. (2021). Our workforce data. https://www.aboutamazon.com/news/workplace/our-workforce-data
Bishop, T. (2022, February 9). Amazon tops 1M US employees. Geek Wire. https://www.geekwire.com/2022/amazon-tops-1m-u-s-employees/#:~:text=Amazon%20employs%20a%20total%20of,company’s%20fourth%20quarter%20earnings%20report.
Blackwood, A. (2021, April 5). Amazon’s approach to audience segmentation. Technologies Blog. https://blog.iotechnologies.com/as-amazon/
Coppola, D. (2022, February 16). Amazon: Annual net income 2004-2021. Statista. https://www.statista.com/statistics/266288/annual-et-income-of-amazoncom/#:~:text=Amazon%3A%20annual%20net%20income%202004%2D2021&text=In%202021%2C%20online%20retail%20platform,than%20469%20billion%20U.S.%20dollars.
Fung, B. (2019, October 11). Amazon lays out its policies on political and social issues. CNN Business. https://edition.cnn.com/2019/10/10/tech/amazon-policy-positions-jay-carney/index.html
Dudovskiy, J. (2022, March 23). Amazon marketing mix (Amazon’s 7P’s of marketing). Business Research Methodology. https://research-methodology.net/amazon-marketing-mix-amazon-7ps-marketing-2/#:~:text=Amazon%20marketing%20mix%20(Amazon%207Ps%20of%20marketing)%20comprises%20elements%20of,process%2C%20people%20and%20physical%20evidence.
Knowledge at Wharton. (2018, March 23). How Amazon delivers on its core product: Convenience. https://knowledge.wharton.upenn.edu/article/power-amazons-fulfillment-network/
Query Sprout. (n.a.). Amazon target market (age, gender, demographics, salary, and more). https://querysprout.com/amazon-target-market/
Radic, D. (2022, January 3). Amazon customer demographics: Prime users, target market, and more in 2022. Serp Watch. https://serpwatch.io/blog/amazon-customer-demographics/
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