Analysis Hour — How Amazon became so successful?

If someone has to name few companies that shaped the world, then one of them would be Amazon.

They literally invented the formula on how to run an online business, and they inspired some of the biggest companies not only in India but also in the world.

Jeff Bozos, should be credited for everything.

He has not only shown excellent leadership qualities and management qualities, but he has invested in some of the most promising products that include cloud service and even outer space research and development programs.

But how did it become so huge?

What is their business model?

Let’s find out.

Formula

As it has been established, the only reason Amazon was able to stand out was because of the leadership of Jeff Bozos.

He understood the growing need of people looking and buying things on internet, and acted accordingly.

But there are other websites too!

So here comes the skill to not only stay in the game but also define it.

You not only need to understand the platform but you have to understand the need of your audience.

What would people love to buy?

The delivery time?

The customer service?

The number of trends and festivals?

The passion to keep progressing?

And not to mention, you have to do so on a global level.

If you put it that way, the whole idea does seem frightening.

Also, ecommerce websites are trending and smoking hot but the risks are great too.

An ecommerce website is as good as the discounts, and once the discounts are out, so are the customers.

In order to keep the customers glued, you need to understand the importance of trends and marketing yourself.

How many times have you see an Amazon ad vs. ads from other ecommerce websites?

Amazon understands and realizes how to promote itself and use the trends/festivals of the specific region to make sure they can appeal to the audience on an emotional level.