Amazon is one of the most well-known and profitable companies in the world. Today, few people have not heard of Amazon or used the firm at least once, as the range of products and various services it provides is constantly growing. This post aims to describe the company, its mission statement and vision, and the competitive strategy it utilizes to gain an advantage over the competitors.
Amazon is a business focused on e-commerce, providing an online marketplace for a variety of different products. The company was founded in 1995 by Jeff Bezos as a website focused solely on selling books (Hartmans, 2021). Although the sale of literature is still a significant part of the corporation’s business, especially with the release of Kindle e-readers, the firm offers other products and services (Hartmans, 2021). Shoppers can find products in the categories of toys, clothing, cosmetics, electronics, software, and household goods (Amazon, 2021b). For example, buyers can purchase anything from toys to cat food. In addition, the Amazon Prime service grants customers access to free music, games, films, and TV shows (Amazon, 2021a). Overall, from its foundation in 1995, Amazon experienced significant growth.
The company owes its success to its competitive strategy and customer-centric orientation. Amazon’s mission statement declares that the business aims to “raise the bar of the customer experience” and empower small businesses (About Amazon, 2020). Moreover, the corporation strives to provide safe and secure workplaces for its employees and become both client-centric and employee-centric (About Amazon, 2021). The competitive strategy Amazon employs is the cost leadership approach, as it allows to decrease operational costs of the company and reach maximum efficiency with the least financial investment (Smithson, 2017). The advantage over the competition is built via the improvement of information technology infrastructure (Smithson, 2017). For example, the software, network components, and the search engine on the Amazon website are continuously enhanced to provide customers with a better, more personalized shopping experience. Thus, Amazon is a firm that is always evolving to provide its customers with the best products and services.
In summary, Amazon is one of the most recognizable businesses in the world. The organization manages to secure a top place in the market by offering its customers the best possible online shopping experience and ensuring they can find the products and services they need. Furthermore, Amazon utilizes the cost leadership competitive strategy and constantly improves its various platforms to stay ahead of the competition.
References
About Amazon. (2020). Our mission. Web.
About Amazon. (2021). Who we are. Web.
Amazon. (2021a). Get the best of Shopping and Entertainment with Prime. Amazon.com.
Amazon. (2021b). International best sellers. Web.
Hartmans, A. (2021). ‘Amazon’ wasn’t the original name of Jeff Bezos’ company, and 14 other little-known facts about the early days of Amazon. Business Insider. Web.
Smithson, N. (2017). Amazon.com Inc.’s generic strategy, intensive growth strategies. Panmore Institute. Web.