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Chaotic Aces

Amazon Prime Video

Customer obsessionor A game of bait and switch?

Amazon Prime Video Introduction

Product mix:Product and Promotion

Mission statement, objectives

Recommendation

STP strategy

Porter Five Forces:Competitors and Buyers Bargaining power

Table of content

  • Launched in 2006, as Amazon Unbox
  • Founded and maintained by Amazon
  • Large library: 24000 films and 2100 TV series.
  • Content: Free, Rentable, Purchaseable
  • Availability: Web-browser, Phone, TV, Game-consoles

Fact Sheet about Amazon Prime Video

  • Other streaming services: Neftlix, Disney +
  • TV channels
  • Illegal streaming sites

Competitors:

  • Price: Amazon Prime Video
  • Quantity Of Content: Amazon Prime Video
  • Product additional value: Amazon Prime video
  • Customer Satisfaction: Netflix

Netflix VS Amazon Prime Video

“[Amazon’] team is passionately committed to providing customers with the most expansive collection of compelling content anywhere in the world”

Andy Jassy, 2021

Buyers' Bargaining Power

Buyer
  • The bargaining power of consumers in the streaming industry determines Amazon’s profit potential.
  • Increasing competition caused by high bargaining power can encourage innovative advancement.
  • The magnitude of the impacts is determined by the level of bargaining power that consumers possess.
(Amazon, 2020)

We aim to be Earth’s most customer centric company. Our mission is to continually raise the bar of the customer experience by using the internet and technology to help consumers find, discover and buy anything, and empower businesses and content creators to maximise their success.

Mission statement

"We try to work backwards from the customer, rather than start with an idea for a product and trying to bolt customers onto it" Amazon project team leader- 2012

Objective: Customer Obsession

Geographical:

  • Present globally: over 200 countries
  • Present on all continents
  • Digital content: no physical barriers
Demographic:
  • Both genders, mostly men
  • All ages, mostly 18 - 34
Psychographic:
  • Lifestyle: moderately busy /free time, use technology regularly
  • Interests: entertainment, information, trends

Segmentation

  • Multi-segment Targeting
Seperate offers for seperate genre-lovers e.g. romance, comedy, action, thrillers, classics and sports
  • One-to-one Targeting
Recommendations based on research and history data

Targeting

  • More for less: provide more benefit to the consumers
  • multiple subscriptions for the price of one subscription of competitors (Netflix etc)

Positioning - Value Proposition

  • X-ray feature
e.g. actors in each scene, anecdotes, identifies playing sounds
  • Include the subscriptions with the delivery service
  • Branched out into sports channels

Positioning - Differentiation

  • After-sale services
  • Q&A board
  • Amazon Prime benefits
  • Free cancellation & Full refund
  • Videos, Movies, Original content, Channels, Sports, Rent and buy services
  • Brand name: Amazon
  • Features & Designs

Marketing Mix - Product

Augmentend Product
Actual product
Core Customer Value

Provide their customers with extraordinary streaming services and entertainment experiences

Advertising:

  • Reminder advertisement
  • Pull strategy
  • Budget: one of the biggest spenders, allocating 170 millions in 2020
  • Personalised online advertisement
  • TV commercials in order to target older groups
Sales promotion:
  • Seasonal promotions: Black Friday deals
  • Student deals
Public relations:
  • Online & physical events
Direct and digital:
  • Youtube, Instagram, Tik Tok
  • 70% of desktop visit

Marketing Mix - Promotion

Issue Identification

Issue Identification

Issue Identification

Add a new tab for "rent or buy"

cREATE A new webpage for "rent or buy"

  • Need to reconsider the STP startegies which is time-consuming
  • The potential risk of declining number of subscriptions
  • Give consumers a clear view of free offering
  • High feasibility and easy to implement

Recommendations — A Genuine Focus on TRANSPARENCY

alexandra_cc1 (2022) The Magic of marketing with Amazon Prime Video and studios  , Adweek. Adweek. Available at: https://www.adweek.com/convergent-tv/the-magic-of-marketing-with-amazon-prime-video-and-studios/ (Accessed: November 5, 2022).

Netflix vs Amazon Prime Video: How ott gods redefined engagement (2022) WebEngage. Available at: https://webengage.com/blog/netflix-vs-amazon-prime-video/ (Accessed: November 2, 2022).

Sharma, T. (2021) Amazon prime marketing strategy: When quantity meets quality!!, MarqueEx. Available at: https://marqueex.com/amazon-prime-marketing-strategy-when-quantity-meets-quality/ (Accessed: Novemer 12, 2022).

Meier, M. et al. (1970) Amazon Prime Video Yesterday, Netflix today: Explaining subscribers' switching behavior from a retrospective: Semantic scholar, ECIS. Available at: https://www.semanticscholar.org/paper/Amazon-Prime-Video-Yesterday%2C-Netflix-Today%3A-from-a-Meier-Maier/c6c5780cdd505b31e55f4750dee684d1218dd6ca (Accessed: November 12, 2022).

Decker, K. (2016) Amazon Video: Marketing & Promotions, TRF 235 Trade Magazine. TRF 235 Trade Magazine. Available at: https://lpelin.expressions.syr.edu/trf235/2016/02/24/amazon-video-marketing-promotions/.Benes, R. (2020) Streaming services spend heavily on marketing amid pandemic, Insider Intelligence. Insider Intelligence. Available at: https://www.insiderintelligence.com/content/streaming-services-spend-heavily-on-marketing-amid-pandemic (Accessed: 2022). Fleishman, S. (2021) Evolution of amazon prime: Digitally advertising an online shopping holiday, Advertiser Database & Digital Marketing Intelligence. Pathmatics by Sensor Tower. Available at: https://www.pathmatics.com/blog/how-much-does-amazon-spend-on-prime-day-marketing (Accessed: 2022). Sharma, T. (2021) Amazon prime marketing strategy: When quantity meets quality!!, MarqueEx. MarqueEx. Available at: https://marqueex.com/amazon-prime-marketing-strategy-when-quantity-meets-quality/ (Accessed: 2022). (2022) primevideo.com, SimilarWeb. Available at: https://www.similarweb.com/website/primevideo.com/#overview (Accessed: 2022).

References

Thank you!