Differentiation: A strong brand helps a company stand out in competitive markets by clearly communicating its value proposition. It creates a unique identity, establishes a competitive edge, and positions the company as a leader in its industry. For example, Google is synonymous with internet search.
Customer Loyalty: A positive brand experience builds emotional connections, making customers less price-sensitive and willing to pay a premium. Loyal customers generate repeat business and act as brand ambassadors, reducing customer acquisition costs and boosting long-term profitability.
Talent Acquisition and Retention: A strong brand not only attracts top talent but also enhances employee morale and engagement. Employees who identify with a reputable brand are more motivated, productive, and committed, driving better business outcomes.
Scoring brand strength is subjective because it relies on individual perceptions and interpretations of various factors, such as customer sentiment, market dynamics, and the competitive landscape, which can vary.
Using our scoring methodology, the average score of a business is calculated as being C (average). This differs from the average score of the top 10,000 businesses featured in our coverage. Weighted to that cohort, the average brand strength score increases to a B (good).
The analysis team have noted the following factors impacting its brand strength:
The 7Ps of marketing are crucial components of strategic decision making for any organisation in any industry vertical.
Using the 7Ps in competitive analysis provides a holistic view of the marketplace, allowing businesses to refine their strategies, capitalise on competitors' weaknesses, and better meet consumer needs. The 7P's are defined as:
- Product/Service
- Price/Fee
- Place/Access
- Promotion
- People
- Physical Evidence
- Processes
All these elements together frame an organisation's marketing mix, crucial for creating effective marketing strategies.
This 7P analysis is designed to provide a valuable insight into the business strategies of the company. It can be used to reveal strengths and weaknesses in their marketing mix, offering opportunities to compare and enhance a business.
1. Product/Services: Amazon offers a wide range of products and services, including e-commerce, cloud computing, digital streaming, and artificial intelligence. The company's main product is its online marketplace, where customers can purchase a variety of goods from books to electronics. In addition, Amazon offers various services such as Prime membership, Amazon Web Services, and Kindle e-readers.
2. Price/Fees: Amazon follows a competitive pricing strategy, offering low prices on its products to attract and retain customers. The company also offers discounts and promotions, such as Prime Day, to increase sales. Amazon also charges fees for its services, such as subscription fees for Prime membership and fees for using its cloud computing services.
3. Place/Access: Amazon has a strong online presence, with its website and mobile app being the main platforms for customers to access its products and services. The company also has physical stores, such as Amazon Go and Amazon Books, and provides access to its products through partnerships with other retailers and distribution centers.
4. Promotion: Amazon uses various marketing channels, including digital advertising, social media, and email marketing, to promote its products and services. The company also leverages its own platforms, such as Amazon Prime Video and Twitch, to promote its products and engage with customers.
5. Physical Evidence: Amazon's physical evidence includes its website, app, and physical stores, which are designed to provide a seamless and user-friendly experience for customers. The company also offers fast and efficient delivery, as well as a reliable and secure payment system, to enhance the overall customer experience.
6. Processes: Amazon has a highly efficient and streamlined process for managing its inventory, order fulfillment, and delivery. The company also uses advanced technology, such as machine learning and robotics, to optimise its processes and improve the speed and accuracy of its operations.
7. People: Amazon's success is also attributed to its people, including its employees, customers, and partners. The company values its employees and strives to create a positive work culture. It also prioritises customer satisfaction and works closely with its partners to provide the best products and services to its customers.