How to build a brand + brand strategy : Amazon Case Study
In our “BRAND STRATEGY — ADVERTISING AND PRESS RELATIONS” presentation we did some digging on how to build a brand and made a case study about Amazon.
We start off by making clear what branding is and then we present the five steps on how to build a brand. Branding is all about making a brand stand out and appear trustworthy to the right audience. Successfully managing your brand and creating content attracts more and more converts leads. We have “competitivity and value proposition”, “find your target”, “brand strategy”, “social presence”, “measuring”.
By doing this research we landed on some important conclusions. We understood that building a brand is a long-term plan, it’s not just a name or logo, it’s the identity, In the cyberspace, agencies and brands which usually had the control traditionally, should be careful about what customers say about them. Customers are more powerful than they’ve never been. It’s an opportunity when they compliment the brand, but a risk when they complain. The diversity of channels (website, social medias..) forced agencies and brands to stay active and more vigilant. Hopefully there are many tools today to helps us control our brand image.
The history of branding doesn’t go way back, but it’s rich and continuously evolving. It’s divided in four ages: the Age of Identity, the Age of Value, the Age of Experience and lastly the Age of You.
Jeff Bezos started the company Amazon in 1997 and we can locate it in both the Age of Experience (when it started out) and Age of You (because of her focus on clients).
Amazon started out with a 18 dollar stock. Now the estimated value of the company is about to 1 trillion dollars. Τhat means that the particular brand has gained the trust and confidence of many customers, leading to gradual increase of value and profits. Amazon is being active in many countries and serves customers with different currencies, calculating about to 60 plus currencies. Amazon’s major UPSs are its client services and technological innovations.
Amazon’s vision originally was to be “Earth’s biggest selection and to be Earth’s most customer-centric company. ”After millions of customers with different needs, its vision became to meet those needs by innovating new solutions to make things easier, faster, better, and more cost-effective. Ultimately, Jeff Bezos views “obsessive customer focus” as the center of his company.
Because of the vision of Jeff Bezos and client-obsessed mindset, Amazon’s Positioning Strategy was and continues to be Low-price, extraordinary convenience, instant access, and comprehensive selection.
To sum up, when it come to value propositions, a company like Amazon has multiple, as it serves several target customers in different markets. With its mission “to be 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,” Amazon value propositions range from “Easy to read on the go” for a device like Kindle, to “Sell better, sell more” to its marketplace. The interesting part is that in all its propositions, Amazon manages to live up to to her customers expectations and ensure their loyalty and the brands revenues.
