Who doesn’t know about the Amazon company? Okay, let’s get to know the company first. Amazon is a trading company implementing a multinational system, founded by Jeff Bezos in 1994. Amazon’s offices are located in the Washington, Washington, United States area. This company was originally built because it saw the opportunities of the increasingly advanced internet development. At first, Amazon was a company engaged in selling books online. Over time, Amazon has changed its sales products, so now Amazon is an online store selling a variety of products. Developing an Amazon company is not easy, because it requires the right business strategy in order to grow significantly.
There are things that the Amazon company always considers the price, products, and company development strategy so that they can last for decades. Taking advantage of technological advancements makes Amazon a competitive company. The success of this online shop allows him to make a lot of profit. No wonder so many want to create an online store like Amazon. A specific strategy used by Amazon, which is based on improving technology to support the company’s success. Another strategy is to use cost leadership, which is a strategy that offers the lowest product prices for all customers. This is what sets Amazon apart from other companies. The entire price of the product offered is cheaper, so many are tempted to shop there.
Amazon’s Most Correct Selling Price Strategy
To date, the Amazon company has been the largest single online retailer in the world. Thanks to its consistency, business development has made Amazon the largest online business leader in the international market segment. Moreover, the business strategy used by this company is focused on product prices, which is certainly very interesting for other online businesses to imitate. What pricing strategy can the Amazon company emulate? The following are specific strategies that you can apply to your online business.
Give a discount
Strategies to provide discounts done by Amazon to Amazon Prime. What is Amazon Prime? A membership service that can offer discounts for two consecutive days. Discounts on Amazon Prime are made when the buyer meets the requirements. Each member will be given a shopping experience using Amazon Prime for 2 days. If a buying member likes and decides to join to create a membership, he or she can immediately get a one-year membership for a $ 99 fee by credit card.
Amazon has implemented a free shipping system. Every Amazon Prime member is entitled to a free shipping service. There is no half-hearted service provided when you become an Amazon Prime member. All customers are sure to be excited about shopping online without having to worry about high shipping costs. Why is Amazon implementing free shipping? Because according to a comScore survey conducted in 2014, as many as 58% of online shoppers don’t want to complete the shopping process because shipping costs are too expensive. That’s why Amazon’s decision to implement free shipping is very good.
Prices are more affordable
Amazon provides very affordable prices for the products it sells. The price is very affordable, if you don’t believe in cheaper product prices then you should take a direct survey to Amazon. There you can see the details of the prices and products offered. Three specific strategies for pricing Amazon style can serve as examples, as they are excellent for the development of an online business that you are developing. The strategy described above worked well and the results proved to propel the Amazon company forward.
Another Strategy for Amazon Online Business Development
You also need to know about other business strategies that the Amazon company is using, making it easier to grow your online business. It turns out that another business strategy used by Amazon is building convenience for its customers who buy products. The company has implemented one-click selling, whereas the click-by-click system makes it easy for customers to buy anything in one click. Amazon’s next corporate strategy, based on technological sophistication, takes advantage of the efficiency of external internal resources and actualizes economies of scale. Based on this, Amazon can analyze and map consumer behavior. There is an example of a behavior map such as anyone who will shop on Amazon will get their own satisfaction.All customers will see a list of recommendations about various superior products. Packed with detailed product descriptions along with product reviews, shoppers don’t have to worry about product quality on Amazon. In this respect Amazon excels in understanding and feeling what buyers want.