Amazon is one of the strongest brands in the US and globally when compared to how customers perceive value versus actual value. That's according to a recently released Millward Brown “Value-D” ranking, derived from surveys of 105,000 customers in more than 20 countries. According to the Brown publication, the desire-price association, which they refer to as the Value-D score, is rooted in the largest and most consistent collection of brand value information available. The global survey goes on to say that it found that price alone is not a determining factor, even among contemporary frugal customers (Millward Brown 3). Instead, brand has gained greater importance in relation to other purchasing factors such as location, price, habit, and convenience (Millward Brown 3). Millward Brown's survey shows that too many brands fail to optimize their power of persuasion and prefer to overcharge costs while under the desire for leverage. Some important findings of the study are that brands, which normally enjoy strong equity, score high on desire (Millward Brown 4). Furthermore, the most valuable brands successfully stimulate the desire to move from normal to amazing productivity. Finally, according to the study, leading brands like Amazon do not ignore the price, but adjust it based on desire (Millward Brown 4). Furthermore, in another study published by ForeSee on customer satisfaction among Internet shopping giants, Amazon tops the list (Tecca 1). The fact that Amazon was number one among dozens of companies in customer satisfaction is not a great achievement for the 152 million people with active Amazon customer accounts (Tecca 1). What's great is that ForeSee's customer satisfaction... is front and center... versus what they perceived they wanted to purchase. It is worth taking out an annual subscription to this Internet shopping giant due to the numerous issues noted above. Anyone willing to experience prominent online shopping should try Amazon. Amazon has established several retail strategies serving as an opening for other retailers and a very healthy market for used goods. Dominance like this will continue long into Amazon's future as it continues to explore new product and service categories. The one thing we shouldn't expect from Amazon is unique business models, which brings us to Amazon's business performance. To evaluate Amazon's business performance, the following aspects will be addressed: sales, market share, image, customer loyalty measures and value over time. Much will be focused on customer service and loyalty measures, as well as long-term value.
tags