The Success Of Amazon.Com Essay

830 words - 3 pages

The Success of Amazon.comIf one is preparing a list of top ten companies of the decade it would not be completed without Amazon.com. The company is considered one of the top in the e-commerce industry and has managed to continue its success. The journey towards the success and its continuous growth is huge if not phenomenal and it shows how difficult it is to even be in the competition in the e-commerce industry. It was in 1994 when the Internet was still a baby that Jeff Bezos founder and chief executive of Amazon.com started the company out of a garage in Seattle. At that time the Internet was new, few had access and on top buying online was something that people feared. But of course that did not stop Bezos even though he was up against the biggest bookseller in the real world 'Barnes and Nobles'. Amazon.com became one of the primary instruments of the e-commerce revolution.This year too Amazon.com turned a profit despite the fact that peers and pundits of the industry were expecting losses and even fans thought that it is the beginning of the end for the company. So what is the big mystery behind this success story, how has Amazon able to pull it off when other can barely float. Jeffrey Bezos sheds some light; one of the most important factors behind the success is the continuous refining and re-evaluation of the strategies and tactics. Bezos knows that 'Internet' is a vast and complex place to do business, he is aware of the psyche of online consumers. Moreover he realizes that in this vast, complex and dynamic place you cannot have fixed and static goals and strategies, you have to keep changing yourself, change is permanent and Amazon has been successful just doing that [Author not available, 2001].Bezos commenting on the continuous success of the company says that there are two kinds of companies in the market, ones that work to raise prices and those that work to lower them; Amazon falls in the second category of companies who work to lower prices. This is true, Amazon since its inception has been offering discounts on the regular basis and I think the fundamental practice and strategy of the company over the last six years has been the low-price strategy. Amazon now discounts nearly all the books over $20 by 30 to 40 percent. When the company raised prices last year and with that the discounts fell it saw a sharp decrease in...

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