By 2017, Amazon got to be named number 1 as far as corporate reputation was concerned in Harris Poll having garnered more than 23,000 votes. The company was established in 1994 by Jeff Bezos and has its headquarters in Seattle. Formerly, Amazon began as an online bookstore where it sold textbooks for students in colleges. With time, they stocked electronics, jewelry and furniture (Gregory,
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2017). Today, the mega-retailer stocks close to anything
that may be needed by customers online. A number of people had the thought that
Amazon would close shop during the dot-com burst; however, the company survived
and became one of the largest retailers in the US. With time, it has acquired
many other retailers too and it now owns Shopbop, Zappos, Goodreads among
others. The company’s mission statement is that they strive to offer their
customers the cheapest prices, the best selection that may be found and the
greatest convenience (The Balance, 2017).
Their mission statement does promise some worthy e-commerce service that is
able to satisfy the needs of their customers.
Product Categories and Description for Amazon
In the media category, the company competes with auction site eBay,
Netflix, Time
Warner Cable, Apple, Google and Liberty Interactive. In the electronic category
many of its competitors are brick and mortar retailers that include Best Buy,
Family Dollar, Target, RadioShack, Staples, Wal-Mart, Sears, Delia, Big Lots (Amazon, 2018). Online competitors include
Alibaba Group, Overstock.com, LightInTheBox Holding Company, PCM, Wayfair Inc.
among others.
The
company’s stock performance seems to defy the conventional wisdom on the way
that stocks are or ought to be valued. The daily stocks for Amazon did adjust
for splits as well as dividends. There are open, high, low and close data and
also percentage changes for many data ranges. The latest closing price for the
company as at April 13, 2018 is 1430.79.
One
of the most visible industry trends in the online business market concerns
marketing that is specifically targeted at consumers. These companies direct
their customers to their websites majorly through many targeted online
marketing channels. The other thing is that they offer a range of products and
not just one specific product to their consumers.
The company has diversified its acquisition into many market sectors.
It has
acquired big companies such as Whole Foods, Zappos, Kiva Systems, Elemental
Technologies, Lovefilm, Souq.com, Quidsi, Audible, Annapurna Labs, Twitch among
others. The company has also been hit with lawsuits over Eclipse Glasses.
The
company’s outlook for the future is bright and its stock value is likely to
increase in the near future. This is because the company offers a variety of
products that are also sold online for easy accessibility by its many
customers.
This
is a company that is good to invest in. For once, the company has been quite
consistent in its way of doing business and it is likely that this trend will
continue into the future. The stock value for the company is at a high rate
which is promising enough for investment.
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