Keller's Brand Equity Model - Amazon.com
Brand Resonance of
Amazon.com
Amazon.com is one of the biggest names in the dot com revolution
that occurred in the the late 90's. Starting as an online bookstore Amazon has
become a giant in the e-commerce industry. The company not only retails CDs,
DVDs, apparel, food, furniture it also produces consumer electronic gadgets
like Kindle Fire tablets, Kindle eBook readers etc. The company runs it’s
operation in the United States, UK, Ireland, France, Germany, Canada, Spain,
Italy, India, Brazil, Japan, China, Australia and Mexico. The company also has
some acquired ventures like Alexa Internet, Audible, Goodreads, Internet Movie
Database, Digital Photo Review, Twitch TV, Zappos, Junglee.com under its
umbrella.
Amazon is a very well-known name in the online market industry. A
major portion of the US e-commerce activity is done through amazon. The company
has been able to successfully position itself as a brand which comes to their
mind whenever they want to buy anything online. Also, if anyone wants to buy
anything at a cheaper price one of the first brands that comes to his/ her mind
is amazon. The reason behind this is amazon’s traditional discount-pricing
strategy. Also, the logo of amazon is a well-recognized one; whenever people
see it they can associate it with the wide range of offerings of amazon.
Brand Performance
Amazon provides its customers with almost every single brand’s products. Also, the company ensures a price lower than most of the online retailers. Over the past two decades amazon has proven its reliability by providing people with products with almost zero damage record. One of the most notable things to mention about amazon is their super-fast delivery. The amazon prime delivery service delivers the product to the customer within two days which helped them in taking the leading position in product delivery service.
Brand Imagery
Amazon serves almost every possible market segment with its wide range of product range and price categories. With the quality products and fast shipping amazon has created an image of a reliable brand in the minds of the customers. Through superior and safe packaging and efficient delivery amazon has also been able to position itself as one of the most reliable brands out there.
Brand Judgement
By providing products with very rare incidents of damage, amazon
has successfully been able to create a position where people consider amazon as
a high-quality product retailer. Through excellent delivery, before and
after-sales service amazon has also become one of the most credible online
retailers on the web. All these influence people to consider amazon if they
want to buy anything online.
Brand Feeling
Amazon has created a very secured payment gateway by employing few
of the top networking security firms in the world. They did this so that the
customers do not feel scared when they put their credit card or paypal
information while buying a product. For this reason, customers feel secured
while they purchase anything from amazon.
Brand Resonance
For creating loyal customers amazon has implemented its prime
service which provides the customers with a two-day free shipping with many
extra services. Also, the company has recently introduced the Amazon Dash, a
WIFI enabled magnetic device with a button which can be attached to anything
like refrigerators, washing machines, so that people can order food, detergents
and many more products by just clicking that button. This will create a sense
of togetherness with amazon among its customers.
Financial Brand Based
Equity of Amazon
Amazon has become the world’s most valuable tech brand, with its
value surging by 42% to US$150.8 billion, according to the latest Brand Finance
Tech 100 report. Apple (up 37% to US$146.3 billion) has retained second place,
and Google (up 10% to US$120.9 billion) has fallen to third place as both
Amazon and Apple’s brand value have accelerated ahead.
The huge growth in the brand value of Amazon comes from using
technological expertise to expand into many new areas across the broader tech
sector, including smart speakers, home entertainment, internet hosting, home
automation, music, mobile devices, audio books, live streaming, artificial
intelligence, and home security.
The value of the biggest tech industry brands does not come just
from successful marketing campaigns, but rather, they are each based upon an
authentic and obsessive focus on their customers. Amazon has built a brand that
has no peer, because they provide unmatched convenience, availability, and
scale. Their brand is unconcerned with competitors. Instead, it is concerned
with removing every possible impediment to customers using their services.
Amazon’s expansive growth leaves Apple and Google behind
Although Apple defended 2nd place in the ranking, with brand value rebounding
to US$146.3 billion after the 27%-decline last year, its future looks
challenging. Apple has failed to diversify and grown over-dependent on sales of
its flagship iPhones, responsible for two thirds of revenue. Sales of iPhone X
have fallen short of expectations, and the model is predicted to be
discontinued later this year. With the advent of emerging world brands like
Huawei, Apple’s increasing focus on what are effectively luxury products may
cost the brand a fair share of the global mass market, limiting the potential
for brand value growth.
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