Publisher's Synopsis
This essay sheds light how Amazon applies global strategies and how Amazon has attained unprecedented financial success. Amazon has a slew of websites that cater to the needs and desires of customers within Austria, Canada, China, France, Germany, Italy, Japan, Spain, the United Kingdom, and the United States. Despite the language differences and the differences in product offerings among the websites, the layout of the sites appear to be remarkably similar to one another ("Amazon international around," n.d.). Amazon can continue to offer their customer's free shipping and can continue to sell their products at reduced prices relative to traditional retailers. This is because, Amazon has substantially lower overhead costs than traditional retailers by having a lesser physical store footprint. Furthermore, Amazon has attained the competitive advantage economies of scale as a result having an unprecedented level of demand for their products. The best business practices for companies competing in global markets to adopt are also highlighted in this essay, such as offering superior customer service, having product recommendation algorithms online that enhance the online shopping experience, monetizing their website to offset the costs of offering customers discounted product prices, and constantly implementing changes based on insightful customer feedback. As a multibillion behemoth, Amazon has attained unprecedented financial success that other companies should take heed of by following the cardinal business practices that resulted in Amazon attaining hefty increases in brand growth, brand recognition, brand loyalty, brand equity, market share growth, and revenue growth.
