The four classical instruments of the Marketing-Mix, the so-called four “P” for Product, Price, Place and Promotion, are several decades old, but by no means antiquated. However, these should be expanded and modified for the Amazon Marketplace, as shown in the figure below.
- 1. Product: Excellence in product offer
- 2. Promotion: Excellence in the holistic presentation
- 3. Price: Unconditional transparency requires excellence in price
- 4. Personnel: Excellence in the minds - Internet-friendly staff
- 5. Processes: excellence in customer service - benchmarking everywhere
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1. Product: Excellence in product offer
Excellence in the range of goods means on the one hand offering products suitable for Internet sales on the Amazon Marketplace. Potentially belong Article with a high brand value, e.g. through a high recognition value of your own Brand or through guarantees from a trustworthy party.
But also digital goods such as software and music, low-quality, standardized goods, such as office materials, books, etc., or regularly acquired goods such as consumables, cosmetics, etc., where a subscription to the article may be available for the recurring delivery belong to this group.
On the other hand, excellence in the range of goods also means offering products that customers offer a specific solution to the problem.
2. Promotion: Excellence in the holistic presentation
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It is also a value-adding distinction feature which contributes to the realization of profits within the transparent e-commerce environment. Especially at Amazon, a marketplace in which the product presentation has reached the highest level of standardization and is thus homogenous for the customer, it is essential to make the best use of the available possibilities in favor of the own product range.
The main focus in the Presentation should therefore be on the product title, which should always be search engine optimized. The offer should be rounded off by an excellent product presentation.
High-quality content, which best describes the product properties, as well as professional images that also allow detailed viewing using the zoom function, should be standard. Last but not least, product reviews are important. Recent studies have shown that an increasing number of online shoppers value the Opinions other customers.
3. Price: Unconditional transparency requires excellence in price
Excellence in price also means participating in the competition for the Amazon® Buy-Box. The “buy box” is the best possible placement of a marketplace retailer on the Amazon® website, which is illustrated by the following figure.
In addition to good service with fast delivery and sufficient inventory, the prerequisites for getting this placement are above all the best selling price. In order to achieve the latter, software such as those offered by Starsellersworld.com or Sellermania.de can provide significant support. That Concept the “buy box” gives the (existing) online retailer better visibility for the customer and thus ensures a strong increase in sales.
4. Personnel: Excellence in the minds - Internet-friendly staff
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The eCommerce Industry is characterized by a high degree of dynamism, so that the founder is required to delve into the complex Welt of online trading and the existing one Background constantly expanding and updating.
Although the Amazon® Marketplace provides the founder with a proper help by providing the online merchant with an existing marketplace with functioning transactional processes, the Amazon® keyboard needs to be professionally mastered and also capable of supporting IT Peripherals with goods management systems or ERP systems specially adapted to online trading.
5. Processes: excellence in customer service - benchmarking everywhere
The missing “P” in the 5P model of marketing for the Amazon® Marketplace is represented by “Processes”, ie the processes. In addition to the transaction process that is specified by Amazon® from order processing to payment processing, the (existential) online retailer make sure that the processes in which he is involved run smoothly.
Orders received must be confirmed on the Amazon® Seller Central platform within 48 hours, but preferably on the same day. The Customer will receive a shipping confirmation at this time. At the same time, the billing and debiting of the customer account takes place. The founder of a business must note that within e-commerce, a longer delivery time than 48 hours on working days from the time of ordering can lead to customer dissatisfaction.
Furthermore, when using the Amazon® Marketplace, the business founder must ensure that incoming customer inquiries must be answered within 24 hours, 365 days a year. The processing time for such buyer-Seller-Contacts are tracked by Amazon® and are included in the customer statistics, see the following figure.
In addition to the benchmarking of the response times, key figures, for example, which measure the rate of order deficits, are separated automatically according to various reasons, automatically recorded by Amazon®. If they do not agree with the Amazon® targets, the online retailer threatens the exclusion from the platform. If such an exclusion is made, this can no longer be healed or reversed.
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