The idea of marketing evaluation can be understood with the planning, and the subsequent assessment of the success and failure of various companies. Business is much more the idea and execution of than that is stated in any theoretical conception. When a company makes a strategy, it always thinks about making more profit and gaining better customer loyalty. Therefore, it is needed for them to evaluate the marketing strategies and control them to obtain a better result. To achieve this, a company takes into account a number of metrics. These marketing metrics provide the managers an array of information about the brands activity and acceptance, the behavior of the consumers and the demand pattern of the market etc.
Amazon.com commonly known, as Amazon is a USA based e commerce and cloud computing company. It can be designated as the largest internet based e retailer in America. “In 2015, Amazon surpassed Walmart (a brick and mortar operation) as the most valuable retailer in the United States by market capitalization” (Amazon.com 2016). Now what made this retail chain obtain this stature in the global market? This achievement is obtained through a systematic and methodical approach towards the marketing evaluation. The financial metrics of the amazon.com has provided the information and needed data to lay the strategy for the profit of the company. Amazon.com has collected data regarding the financial metrics to obtain the profit margin. Now they are collecting US$ 596 million (2015), as the net income (Amazon.com 2016). It has helped them to follow the strategy of investment and Acquisition of Annapurna Labs based in Israel (Amazon.com 2016) .
However, the ‘false and paid reviews were costing their strategy negatively. By evaluating their strategies and estimating its successes, “Amazon has allowed only assessors who’ve made genuine Amazon transactions to leave opinion. Thus, they have recognized the problem and taken strategy to eliminate it (Beukes et al. 2014).
This company has also used the memory metrics with much concentration. They know that the customer is the essence of the marketing. They have established the idea of quality product and service with their brand image (Koh2015). As discussed above, to obtain better customer satisfaction Amazon has also altered their procedure of addressing the product recall service. It is true that they are concentrating on giving us the best in the market. Their idea utilizing availing the online setup is also based on their metrics of physical availability. They wholly understand that how fast we are moving in our life today. Therefore, being available in online would be the best possible approach to address today’s customers.
This popular company has also used the marketing activity metrics to keep track of the marketing techniques of the company. This has led them to introduce the multi level sales strategy (Boon-Lon and Wongsurawat 2015). Amazon started by concentrating on Business-to-Consumer dealings between itself and the customers, and Business-to-Business contact between itself and its dealers. Then it moved to integrate Customer-to-Business business as it apprehended the value of client reviews as part of the product images. Their customer profile metrics is also focusing on targeting the right segment of the customers. They are proving us gender-customized products and they understand the need of the time. They are technologically updated and deal with perfect commitment.
However, it is needed to obtain the right and relevant information from the marketing metrics and follow the best marketing control style to obtain the best strategic outcome. Otherwise, the system will face a failure and affect the business negatively. The same happened in the case of amazon.com. They are now reaping the profit of a successful marketing evaluation.
Amazon.com. (2016). Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books, DVDs & more. [online] Available at: http://www.amazon.com/
Beukes, J., Prinsloo, H. and Pelser, T.G., 2014. A Strategic Marketing Evaluation of Customer Service Expectations from Alcohol Beverage Suppliers. J Soc Sci, 40(1), pp.129-139.
Boon-Long, S. and Wongsurawat, W., 2015. Social media marketing evaluation using social network comments as an indicator for identifying consumer purchasing decision effectiveness. Journal of Direct, Data and Digital Marketing Practice, 17(2), pp.130-149.
Koh, A.C., 2015. An Evaluation of the Current Export Marketing Practices of United States Firms. In Proceedings of the 1989 Academy of Marketing Science (AMS) Annual Conference (pp. 198-202). Springer International Publishing.
Marshall, K.P., Forrest, P.J. and McGorry, S., 2014. MARKETING METRICS WORKSHOP: ACME 2014. Patrick D. Fountain, p.239.
Wu, X., 2012. A marketing management model based on enterprise resource theory. Journal of Theoretical and Applied Information Technology, 46(2).