One of the companies that has a strong brand presence and is still constantly growing is Amazon. According to Interbrand, a brand consultancy organization, Amazon was ranked third among the best global brands. Amazon’s success is attributed to several strategies which they have put in place to improve its efficiency and preference among customers.
First, Amazon is focused on customer satisfaction. Amazon asks customers their preferences for different products and uses the replies to tailor their products. Amazon has implemented the use of high-level technology to assist them with logistics. The delivery speed of products globally is faster due to the numerous branches Amazon has across major cities globally. It has excellent customer service that deals with consumers’ queries and complaints fast. It also has a unique team of employees who use social media to interact with customers hence, creating rapport between customers and employees (Majed, Nuraddin & Hama, 2018) .
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Amazon has diversified its products through partnering with several retailers hence they have a variety of products for customers to choose from. With an increase in the number of products sold, the number of customers increases and this enables them to enjoy economies of scale. Consumers flood the site since it is a one-stop-shop. Smaller chain-stores find it difficult to compete with the low prices (Izogo & Ozo, 2015) .
Amazon has also heavily relied on innovation to attract customers. From the user-friendly interfaces on their sites to the use of voice command for sales, Amazon adds unique products and services to the already existing ones. This provides the company with a sustainable competitive advantage over its competitors. For example, Amazon's venture into selling music raised its number of customers considerably (Majed, Nuraddin & Hama, 2018) .
Jeff Bezos’ growth mindset and an effective management team have also contributed to Amazon’s success. Since its start in 1995, Amazon has been traversing borders to set up shops in different countries and improve its customer base. This has improved their ability to ship products faster and handle problems for several customers (Izogo & Ozo, 2015) .
References
Izogo, E., & Ozo, J. (2015). Critical Evaluation of How Well Placed Amazon is to sustain its Historical in Online Retailing. British Journal of Marketing Studies , 3 (6), 31-42.
Majed, S., Nuraddin, S., & Hama, S. (2018). Analyzing the Amazon success strategies. Journal of Process Management. New Technologies , 6 (4), 65-69. DOI: 10.5937/jouproman6-19264
