Marking Plan Proposal for BB Holistics
Introduction
The global therapeutic weighted blankets market is anticipated to record a robust compound annual growth rate (CAGR) throughout the forecast period of 2020–2028. Although the market is segmented by distribution channel into online and offline, online segment is anticipated to hold the largest market share due to increasing smartphone and internet users around the globe, along with the increasing penetration of the e-commerce industry among consumers. Amazon is an exceptionally profitable sales channel for many online merchants. Our digital marketing campaign on E-commerce will expand BB Holistics’ brand awareness online, strengthen its reputation as a leader in its niche, and create cost-effective and profitable outcomes.
Approach to Amazon
Although there are several approaches for Amazon Marketing, for BB Holistics, we would like to propose Amazon Marketing through Fulfillment by Merchant option. Sellers who transport their own products to customers who place orders on Amazon are referred to as Fulfillment by Merchant (FBMs). Some advantages of FBM are no Amazon fulfillment fees that enables greater control and personalization; package your products to protect them; higher turn rates; managing the inventory on your own that would help the small business with low volume of sales.
Amazon already supports 30,000 third-party sellers from across Canada, many of which are small businesses. Altogether, they grossed more than $1 billion in 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers on Amazon.ca, a growth of 40% year-over-year. Amazon’s vast reach involves strong brand management, financial management, and continual optimization across listings and PPC. In such a competitive marketplace, there is a dire need for strategic planning, paying attention to the finer details, and staying focused on the business goals.
Marketing Plan Outline
A well-defined marketing strategy is important for long-term success. After analyzing the problems of BB Holistics and their expectation to increase the B2C expansion, we have designed the strategies for Amazon marketing. Apart from the Traditional Marketing Plan, an outline for our Amazon Marketing Strategy is listed below.
· Market research
· Define Your Target Audience
· Amazon Seller Account (FBM)
· Product launch & Listings
· Strategies used for Amazon Marketing
· Strategies for Optimized Listing
· Pricing & Promotion strategies
· International Expansion
· Financial Projections
· Amazon concepts; Amazon tools; & Amazon programs
· Recommendations
Research Your Marketplace Niche : By exploring top three competitors and extracting their high-rated reviews on Amazon renders the real concerns of the consumers. This will be showcased to improve the core offer of BB Holistics.
Clearly Define Your Target Audience: One of the most important elements of planning is to define the target E-commerce audience. These end-users will add to success or failure of that plan. So, it is important to determine the E-commerce buyer personas to build the sales and marketing strategy for Amazon buyers of BB Holistics. These include demographics (age, gender, location, etc.), common life challenges & mindset, shopping preferences, behavioristic patterns, and triggers.
Seller Central Account: A detailed analysis of Fulfillment by Merchant option and other available options would be provided. Details on Individual plan and Professional plan options for Seller Account, Amazon fees, referral fees, high volume listing fee, refund administration fee would also be highlighted.
Product Launch & Listing: Amazon launch and product listing requires deep analysis of each and every product to be listed. These eight core elements that need to be analyzed and optimized before launching a new product would be specified, and they are Optimized title; Quality images; Enticing copy; Social proof (reviews and/or images of the product in a real-life setting); Competitive offer; SEO; Video; and Call to action.
Strategies used for Amazon Marketing: To build a potent Amazon marketing strategy, these are the effective available options.
· Amazon PPC: Amazon SEO and Pay-per-click marketing (PPC).
· Amazon Launch Services: These are designed exclusively for new merchants selling on the platform.
· Social Media Marketing: Promoting the products through different platforms
Pricing & Promotion Strategies: This involves Promotions and Coupons; Deal of the Day or Limited Time Deals; Competitive Pricing Strategy and its benefits.
Resources
Our sources of information for Primary research would include Annual Reports and Google Analytics of BB Holistics to understand the customers engaging on the website of BB Holistics, to analyze region-wise demographics to communicate with the target audience through Amazon, and the points of sale for a more complete view. The UCW Library provides access to leading industry journals, E-books, Library Databases such as Vividata, Statista & Simply Analytics. Data from secondary research would help us with a highlevel overview of market opportunities. It typically consists of previously collected information on consumer demographics, industry trends, market share, etc. Statistics Canada and Industry Canada are reliable sources of economic, industry, social and census data. For USA & International, The US Bureau of Labor Statistics, Consumer Expenditure Survey, and The US Census Bureau.
