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MGTCB/526
Amazon Business Strategies – Comp 1/Mod 2 Reflection
MGTCB/526
Amazon Business Strategies
Someone once said trying to be everything to everybody means being nothing to nobody.
Essentially, in the business world, it means no business is able to cater to every customer. Well,
here’s the name of one company that has proven this statement to be mostly false: Amazon.com.
Founded by Jeff Bezos and established in July 1995, Amazon has had continued growth from its
beginning, which started with just one product, books (Hartmans, 2020). In the first quarter of
2020, the firm’s revenue amounted to more than $75 billion (Mohsin, 2020). That is quite
impressive for a single quarter. So, what strategies has the well-known and profitable firm used
to maintain its competitive advantage?
Amazon Mission and Vision Statements
Mission: “To serve consumers through online and physical stores and focus on
selection, price, and convenience.” (Wanjala, 2020)
Vision: “To be the Earth’s most customer centric company where customers can
find and discover anything they might want to buy online.” (Wanjala, 2020)
Industries
Remember it started with books. Today, this business giant offers so much more. Product
availability includes just about everything. Clothing and fashion, electronics, and food to name a
few. The company also offers services such as food delivery subscription and PrimeTV. If the
consumer mind can think of it, Amazon probably has it, or its on its way.
With so many products and services, Amazon competes in multiple industries. According
to Segal (2020), here are Amazon’s main competitors:
E-commerce is where Amazon competes most. Falling in so many categories, the organization
must have an impeccable strategy or a great combination of many. There are competitors coming
from every angle.
Business Level Strategies
Business level strategies outline specific methods a division or business unit will take in
order to compete effectively against competitors in the industry (Jones, 2020). Managers design
plans for achieving the long term divisional goals which allow achievement of overall
organizational goals. Jones (2020), explains there are four main business level strategies: low
cost (focus on costs and pricing below competition), differentiation (setting firm’s products and
services apart from competition through important characteristics), focused low cost (serves one
or few market segments with goal to be lowest cost), and focused differentiation (serves one or
few segments in market with goal of being the most differentiated).
So, what is Amazon’s strategy? The organization uses an integrated low
cost/differentiation strategy. For the low cost section, Amazon is constantly scanning the
competition’s prices to ensure its own prices still align with the company mission of price,
selection, and convenience (Fishman, 2020). The huge warehousing and processing capabilities
help to create economies of scale, a great cost advantage. The differentiation section of the
strategy involves the way Amazon satisfies its customers. Online customers can be served
through apps with options such as free delivery. Numerous fulfillment centers are now in play
and help create jobs for internal customers (other companies may call them employees), who are
hired to get products shipped out sooner to external customers. Customer service is the major
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