How Amazon Became One of Todays Major Online Retail Players Essay

How Amazon Became One of Todays Major Online Retail Players - Essay Example Amazon.com is a multinational electronic commerce company and is the world’s largest online retailer. It was founded by Jeff Bezos in 1994. As Fisk (2009, p. 102) states, the company started its business operations as on online bookstore and rapidly grew as a retailer of DVDs, CDs, MP3 downloads, video games, apparel, computer software, food and toys. The firm provides international shipping services to several countries in order to market some of its products. In 2010, the company earned US$34.304 billion as revenues on the strength of its 33,700 employees. The company’s remarkable achievements during a short period of time can be directly attributed to its strategic changes in the E-commerce practice. The retail E-commerce can be classified into two broad categories such as traditional forms and modern forms. The traditional forms of E-commerce mainly constituted online shopping which is a process that enables customers to purchase required products from any part of t he globe as and when needed. The idea of a â€Å"virtual bookstore† assisted the Amazon to dominate the market since its very initial stages of business once this concept was new to consumers. In addition, the company offered special features related to selection, convenience, price, and service. The company’s huge database of 1.1 million titles aided its customers to get a wide range of book selection (University of Washington). Amazon’s patented ‘1-Click’ express shooting technology provided greater convenience to customers as this feature made the ordering process easy. Amazon also allowed high discounts on best sellers. â€Å"The e-mail and telephone customer support, automated order confirmation, and tracking and shipping information† were the innovative service features of the company (Introduction to E-commerce). Since the internet has imposed little selling regulation on the firm, it could rapidly grow using its real-time optimization strategy.        

Take home final exam Term Paper Example | Topics and Well Written Essays - 2000 words

Take home final exam - Term Paper Example The advent of ‘Email’ as a form of social media was made in the year 1966. This form of social media has been of great help to the society. In keeping with the advantage, apart from normal sending and receiving of messages through mail, one can also send greeting cards among others. Another form of social media that has facilitated to ease the lifestyle of the masses worldwide is ‘LinkedIn’. This form of social media has been of great assistance to the working people or for businesses. By executing this social media within the organizations, it becomes convenient to get connected with professionals and executives. YouTube became functional in the year 2005. This was considered to be the first major website for hosting along with sharing of the videos worldwide. This has helped the users’ in viewing the videos of their interest. In the year 2006, social media emerged with a new innovation for common users i.e. ‘Facebook’. With this social media, communication amidst the society has become more effective. This assists the society to maintain connection with their closed ones worldwide. ‘Google Buzz’ is the form of social media that acts as a messaging tool. By applying this form of social media, the users can send messages, photos and links among others (Ritholtz Barry, â€Å"History of Social Media†). 2. ... Social media ensures the connection of individuals with friends, along with facilitating to share information and contents among others which contribute to the popularity of social media. In the modern day scenario, communication within the organizations has greatly changed. The traditional form of media is quite different as compared to the new form. Traditional social media comprises newspapers, films and magazines among others. The new form of social media entails inherent properties that have made it more successful rather than the traditional form. With regard to the dimension of accessibility, social media is very easily available at minimum or no cost at all. In order to use social media, there is no requirement of specialized knowledge or skills. In keeping with speed as a property of social media, it is readily available everywhere. Furthermore, it is being used by everyone within the community. Moreover, an individual can communicate with a larger base of audiences without any interruption. New social media is being highly applied by the marketing departments in organizations in order to reach the larger client base at a shorter tenure. Interactivity as another property of social media basically fosters two or multiple way communication. In accordance with longevity as a property of social media, it is generally volatile by nature. Reach of social media is unlimited in terms of contents. Application of social media in modern day context enables the users to search unlimited contents of their interest. Comparatively, in case of traditional media, it is not that volatile, speedy and accessible as the new form of media i.e. social media (Taprial and Kanwar 6-39; Blazevic,