Amazon.com is a worldwide American-based electronic company founded in 1994 by Jeff Bezos, the actual chairman and CEO. At the beginning, Amazon was just a small online book retailer, but thanks to the development of Internet at the end of the 90s, it grew quickly into a huge online retail store. Today, in the United States, one out of three online sales are made through Amazon’s website.
Amazon wasn’t always the company we’re familiar with. The company, then known as Cadabra, was founded in 1994 by Jeff Bezos, former vice president of the firm D.E. Shaw. Bezos decided to create Amazon after he saw an annual report that noted the 2,300% growth in the web. The internet had existed for years prior, and online businesses had already begun taking root. However, the web was an idea people were still getting used to, and few people recognized its potential. As such, there was plenty of opportunity for online businesses, and Bezos began considering the possibility of selling products on the internet. He concluded that he wanted the top book-selling brand online.
Amazon stated its marketing approach in its 2011 annual report as “we direct customers to our websites primarily through a number of targeted online marketing channels, such as our associated program, sponsored search, portal advertising, email marketing campaigns, and other initiatives.”(Petro, 2017). Being the leader of the ecommerce industry, Amazon maintains that
An Amazon Advantage program was introduced in 1998, which allowed users to distribute and market their products. This gave Amazon users a platform for selling their own goods to the gigantic database of customers all around the world for a set fee. By providing this service, Amazon increased it’s customer base, products range and obviously gained competitive advantage. (Amazon.com, 2012)
Jeffrey Bezos, formerly a senior vice president for D. E. Shaw & Company, founded Amazon.com in 1994. D. E. Shaw is a Wall Street-based investment bank, and Mr. Bezos was assigned to find good Internet companies in which to invest. During the summer of 1994, he stumbled across a
In 1994, Jeff Bezos created Amazon with the idea of selling books online. Jeff Bezos was raised by his mother and stepfather, who was a Cuban immigrant that later adopted him. He quit his job on Wall Street with a New York hedge fund to work to fulfill his dream. In 1995, the dream became a reality. Bezos knew when he created Amazon, he knew what he wanted and that he wanted it to be an everything store.
Amazon strives to provide customers with the best possible online shopping experience by leveraging their powerful and innovative technologies. Part of the company’s competitiveness lies in their proprietary technology, which is licensed to companies like Target to run their e-commerce site. Its patented portal technology allows the customer to customize their on-line experience with personalized home page,
It can be served as a competitive advantage, which attracts more customers shifting from Amazon’s online retailer competitors into buying their products, thus increasing the market share.
Amazon.com is one of the most popular web sites in the short history of the internet. It began as a book seller and has expanded to include all sorts of general merchandise from clothing to appliances and more. Amazon.com once sold only new items but the people in charge quickly discovered that a large market existed for selling used merchandise. They decided to tap into this market for used goods, creating the Amazon.com Marketplace, a place for consumers to find products at low prices.
Amazon.com Inc. was initiated by Jeff Bezos in 1994 after realizing the rapid rate at which the internet and websites were growing in popularity among business organizations and individuals. In 1995, the company started operating its website for selling books, videos, compact discs, computer software and computer hardware before being incorporated in1996 as an e-commerce company (Reuters, 2015). Apparently, the company offers may products and services for sale; these products include merchandise for resale products offered by third parties. In this regard the
Amazon started with Jeff Bezos’ idea on creating a company based around selling on the internet (Int. Directory). In the 1994, Jeff left the Wall Street firm D.E. Shaw, moved to Seattle. There, he created a business plan, from which Amazon was born. Jeff projected a 2,300% of annual web growth over time from selling on the internet. He took the five most profitable products and put them on his stock. At the time, books were a strong suit for Amazon, and where most of their profit came from (Int. Directory). Their competition was Barnes and Noble, who were large retail booksellers dominating the market. By 1995,
Amazon.com, Inc. (Amazon.com), incorporated on May 28, 1996, is an American electronic commerce company with headquarters in Seattle, Washington and is the largest Internet-based retailer in the United States (Ungar, 2014). Amazon.com started as an online bookstore, but soon diversified, selling DVDs, Blu-rays, CDs, video downloads/ streaming, MP3 downloads/streaming, software, video games, electronics, apparel, furniture, food, toys and jewelry (Ungar, 2014). The company also produces consumer electronics—notably, Amazon Kindle e-book readers, Fire tablets, Fire TV and Fire Phone — and is a major provider of cloud computing services (Ungar, 2014).
This American company is headquartered in Seattle, Washington and was founded by Jeff Bezos in 1995 (amazon.com). Jeff Bezos is a visionary who saw the opportunity to use technology as a platform for retail purchasing, originally books, but soon expanding into nearly any item imaginable that could be shipped (Cuneo, 2000). Mr. Bezos named his company after the world’s longest river, and today, it is easy to see that Amazon’s success and market niche, appears to be flowing abundantly, and streaming excellent customer service.