Marketing Practices and Theory for Management-myassignmenthelp

Question: Discuss about theMarketing Practices and Theory for Project Management. Answer: Introduction Marketing and management form crucial aspects of any organization. The purpose of any organization is to ensure maximum returns and satisfaction of stakeholders (Kotler, 2015). Therefore it is important for a business to understand the needs and demands of the stakeholders and tailor their products and services to suit these needs. This report throws light on Amazon Inc. and different criteria used by different stakeholders of Amazon to judge the companys effectiveness. Purpose of the organization Amazon is an Ecommerce giant and is built with the purpose of creating an online one stop shop to fulfill all the needs of their customers. Amazon has a wide range of products that are delivered to the customers doorstep in an effective manner (Smith Rupp, 2017). Amazon ties up with various retailers across the globe and has bridged the gap between these retailers and their customers by creating an online portal. Scope of operations Amazons scope of operations is very wide. The company has a different retail website for US, UK, France, Ireland, Canada, Italy, Germany, Spain, Netherlands, India, Australia, Japan, China, Mexico and Brazil. Amazon also offers international shipping to various other countries. The retailers associated with Amazon deal in a sundry variety of products including stationary items, clothing, shoes, home decoration, books and baby products. Besides retail store, Amazon also has a streaming channel Amazon Prime Video. Criteria to judge the organizations effectiveness I am a regular customer of Amazons retail store as well as a member of Amazon Video Prime. As a customer, I judge the effectiveness of the organization by the time taken for delivery of the ordered product, the availability of the product that I need and the quality of the product that I have ordered. In my opinion, Amazon is running a highly effective business. The mobile application is very user friendly and it is easy to search for items that I require. Their wide variety of products offered also makes it my first priority to buy from when I need any item. The orders get delivered on time and the delivery executives are well spoken and polite. The exchange, return and refund process of the business is also very effective. Overall, as a customer, I am very satisfied with the services offered by Amazon. Especially with a prime membership, the delivery is often quicker than stepping out of the house and buying a product. Criteria to judge the organizations effectiveness Stakeholder perspective Stakeholders of any business refer to all the people associated with the business including employees, government bodies, media personnel, owners, creditors and suppliers (Schnackenberg Tomlinson, 2016). For the success of any business it is important that the stakeholders of the organization are content and satisfied with the business. Two important stakeholders of Amazon are its employees and its suppliers. In this case, the suppliers would be the numerous retailers that Amazon is associated with. Stakeholder 1: Employees As an employee, the effectiveness of the organization would be based upon the salary offered by Amazon in comparison to other ecommerce firms as well as the working environment that the employees are subjected to. A positive working an environment where employees feel motivated to work will be considered an effective organization (Lazaroiu, 2015). It is important that along with their work, employees are able to manage a work life balance. Employees growth and development within the business also impacts their level of satisfaction with their work. Fair compensations, timely promotions, productive trainings, lucrative incentives and an overall positive working environment would define the effectiveness of the organization from the employees perspective (Albrecht Bakker, 2015). Stakeholder 2: Suppliers Retailers or suppliers associated with Amazon are also crucial stakeholders for Amazons business. Retailers would also judge the effectiveness of Amazon depending upon the business that they receive through Amazon. If a large part of their business comes from Amazon, they would consider Amazon as an effective organization. The amount of margin that Amazon earns from every product shipped to a customer through a retailer would also impact the effectiveness of the organization. Transparent communication between Amazon and the retailers would assist in ensuring better coordination and hence improve effectiveness of the firm (Christopher, 2016). Implications of developing a coherent approach to organizational effectiveness In order for Amazon adopts a coherent approach to organizational effectiveness, it would have to ensure that the employees, customers as well as retailers of the organization are entirely satisfied. This strategy would require the organization to continue to maintain best quality services for its customers, create a positive working environment for its employees and pay them better than the competitors, build and maintain productive and transparent relationships with their suppliers and lastly ensure that all of this is achieved without impacting the companys productivity. The implications of building such a strategy would be as below: Satisfied stakeholders would lead to increased business (Holloway, 2016). In order to sustain the effectiveness of the business, Amazon would have to hire more employees and open more subsidiaries. Satisfied stakeholders would also lead to an improved goodwill and position of the firm. Positioning refers to the image of the brand in the minds of its consumers (Wang Sengupta, 2016). Such a strategy would require Amazon to effectively manage its financials and ensure this is achieved at low cost. Amazon would be able to build loyal and long term relationships would be established with the Stakeholders. Conclusion Stakeholders of any business are pivotal to the success of that business. Therefore, it is vital that organizations ensure that their stakeholders are satisfied and continue to remain associated with them in the long run. This report throws light on the case of Amazon and three of its important stakeholders. These stakeholders are employees, customers and suppliers. Customers judge the effectiveness of the ecommerce giant on the basis of timely delivery and quality of the product ordered. Employees feel motivated to remain associated with Amazon based upon their working environment and compensations. Retailers require effective communication and improved business from the firm in order to build a long term relationship. Therefore Amazon could work upon a coherent strategy that would help in fulfilling the needs of these stakeholders. References Albrecht, S.L., Bakker, 2015. Employee engagement, human resource management practices and competitive advantage: An integrated approach.Journal of Organizational Effectiveness: People and Performance,2(1), pp.7-35. Christopher, M., 2016.Logistics supply chain management. Pearson UK. Holloway, J., 2016. What stakeholder management should learn from sales and marketing?Further Advances in Project Management: Guided Exploration in Unfamiliar Landscapes, p.236. Kotler, P., 2015.Framework for marketing management. Pearson Education India. Lazaroiu, G., 2015. Employee motivation and job performance.Linguistic and Philosophical Investigations,14, p.97. Schnackenberg, A.K. and Tomlinson, E.C., 2016. Organizational transparency: A new perspective on managing trust in organization-stakeholder relationships.Journal of Management,42(7), pp.1784-1810. Smith, A.D. and Rupp, W.T, 2017. Amazon.Com, Inc.: Retailing Giant to High-Tech Player? Wang, H.M.D. and Sengupta, S., 2016. Stakeholder relationships, brand equity, firm performance: A resource-based perspective.Journal of Business Research,69(12), pp.5561-5568.