This paper is dedicated to research of the business objectives of the well known company, a indisputable leader of its industry – Amazon.com.
This company is a multinational web commerce company with headquarters in Seattle, Washington; it is the largest online retailer in the US. It operates in two major market segments: North America and International. At first, Amazon was an online bookstore, started by its founder Jeff Bezos in 1995, but later the company diversified. The number of it’s full time employees is 33,700.
Amazon’s vision (and the biggest objective) is to be earth’s most customer centric company, to build a place where people can come to find and discover anything they might want to buy online. By giving customers low prices, vast selection, and convenience Amazon.com continues to grow and evolve as a world-class e-commerce platform. It’s positioned as global customer-centric company where virtually anything that people are looking for can be successfully found and ordered.
This company is the largest online retailer in the US, it’s a definite leader of web commerce trade category. The major focus of Amazon’s business strategy is customers’ satisfaction. People may find and order virtually anything they search for.
The most attractive sides of Amazon’s business strategy are low prices, vast selection, and of course absolute convenience for the consumer. Therefore, thanks to these strong sides and advantages for the world audience, the company continues to evolve as a world-class web commerce giant. Currently, this company has a different websites for such countries as UK, Canada, France, Germany, Italy, Japan, and China. Amazon needs to focus on the following corporate strategies for next five years of operations: concentrated growth, markets and product’s development and innovation.
1. The major business objectives of Amazon.com
1.1. Satisfaction of the existing customers and attracting the new customers.
The customers are divided into three groups: consumers, sellers and enterprises. The strategic advantages of the company for the customer are: selection, price, and convenience. According to Amazon.com CEO Jeff Bezos: “In our retail business, we have strong conviction that customers value low prices, vast selection, and fast, convenient delivery and that these needs will remain stable over time. It is difficult for us to imagine that ten years from now, customers will want higher prices, less selection, or slower delivery.” (Amazon: CEO’s letter to shareholders)
1.2. The increasing of the market share and growth of the revenue.
It may be achieved by: improving and diversification of Amazon services; introducing other marketing and promotional services, such as online advertising, and co-branded credit card agreements; developing Amazon Web Services (access to technology infrastructure that developers can use to enable virtually various type of business). Current sales of Amazon consist of 55.4%, that are made in the North America and 44.6% of sales is made by the international market. (Amazon)