Since Amazon Inc started in 1995 the company

Since Amazon Inc started in 1995 the company - Since Amazon...

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Since Amazon Inc started in 1995 the company’s perspective has been, “We seek to offer the Earth's Biggest Selection and to be the Earth's most customer-centric company, where customers can find and discover anything they may want to buy online” (fundinguniverse.com). As a pioneer of e-commerce, Amazon has an eclectic selection of products such as Books, CD’s, Clothing, Toys, DVDs, Electronics, furnishings and house wares, and all sorts of gadgets. Through third-party agreements, Amazon.com also sells products from well-known retailers including Toysrus.com Inc., Target Corporation, Circuit City Stores Inc., the Borders Group, Expedia Inc., Hotwire, National Leisure Group Inc., and Virgin Wines. Over the years, Amazon has paved the way electronic commerce and has been one of the leading online retailers. As the use of the Internet increased, companies started to look at the web as the new avenue for commerce. One of the pioneers of e-commerce is Jeff Bezo who also founded the company Amazon. In 1994 Bezo decided to quite his job as vice-president of the Wall Street firm D.E. Shaw, and moved to Seattle and began on the business plan for Amazon. He read reports on how the web is increasingly growing and drew up a list of 20 products that can be sold on the internet. He narrowed the list down to 5 promising products which are compact discs, computer hardware, computer software, videos, and books. Bezo decided books would the best due to the large worldwide market for literature, the low price that could be offered for books, and the tremendous selection of titles that were available in print. He chose Seattle as Amazons headquarters because of its large high tech force and its proximity to a large book distribution center in Oregon. He worked to raise money while meeting with computer developers. In 1995 the site
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debuted and quickly became the number one book-related site on the web (fundinguniverse.com). Bezo did all of this from his garage as well. Amazon gained lots of attention on the web over the next four years of its operation and became a very popular website. The site opened with an easy to use searchable database with over millions of book titles. The customers would enter the information of the desired book they want which will be then searched though Amazons database. Once the desired book is found in the database, the customer has the option to order the book with a credit card and have the book shipped in a few days. Amazon allows you to shop right from the comfort of your home. Other companies started to take After a year of Amazon successfully ringing up online book sales, Barnes & Noble decided to form its own website. Early efforts in e-commerce for Barnes & Noble were marked by costly mistakes and missed opportunities (swlearning.com). In efforts to crush Amazon, Barnes & Noble burned through $100 million, and compared to Amazons 75% of books sold online, Barnes & Noble only sold 15%. According to yahoo finance,
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This note was uploaded on 04/06/2011 for the course MKT 14 taught by Professor Shin during the Spring '11 term at Long Island U..

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Since Amazon Inc started in 1995 the company - Since Amazon...

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