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How has amazon added value to thier business
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Best Buy: A Proposal for Improvement
Sound of Music, which would later turn into Best Buy (BB) was founded in 1966 as a record store. As available technologies and customer service norms changed, so did our business model. Since then, Best Buy has evolved into a technological hub where people can get music, movies, computing devices, electronics, and appliances. We started our online store in the year 2000, and we acquired Geek Squad (GS) three years later with more than acceptable results. As of 2006 our outstanding shares had reached their maximum value at 56.00 per share, while our most visible competitor’s (Amazon) share was about 35.00. Unfortunately, that boon period would not last, after 2006, the value of our stock declined
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Thanks to Costco’s ninety day return policies in electronics with no restocking fees, customers in general expect a more generous return policy. Personally, I can attest that this differential in return periods becomes critical in considering the risk associated with purchases of more than $500.00. According to ihatebestbuy.com this is one of the most upsetting issues customers have with our store. Also, numerous complaints have been filed from customers who were denied a return for not being Premier Silver members (PSMs) of our Rewards program. PSMs get sixty day returns instead of fifteen. We believe that this distinction only alienates other buyers and does not do much to increase our efficiency …show more content…
One example is the simple task of adding a gift note to some item, it is just not possible. Also, Best Buy’s website is a laggard compared to those of the competition; a single task, say a purchase, takes at least double the time it takes at Amazon.com. In light of the facts described, Best Buy should end all of the outsourcing contracts at once; our online store is a core function necessary for our own survival and should not be delegated to third parties. We also suggest improvements to the online store focused on usability and ease of access. Additionally, the online store should include direct links with access to customer focused groups, for example blogs and open forums about the use of windows 8; device ratings (like Amazon’s), and direct online help for normal issues with new computers. Actually, resembling Costco’s concierge service, we could offer free use of the Geek Squad’s service for 30 days for new items. This would work as a trial and could increase Geek Squad’s sales by a significant
Costco has a desire to keep their members happy by offering low prices. As previously stated, warehouse stores require a membership. Costco’s basic membership costs fifty-five dollars annually. Members can upgrade to an enhanced membership for one hundred and ten dollars annually, that provides members a two percent cash back reward on most purchases. Costco guarantees its members a markup cap of fourteen percent on all of its products. They are also extremely competitive when it comes to their vendors. Their vendor selection process is rigorous, disqualifying many products yearly that the company doesn’t feel are a value to its
In the article “Amazon.com is a 21st Century Deal with the Devil”, Amy Koss of the LA Times depicts the website giant Amazon.com as the devil. Koss describes a mall that is like a ghost town with its empty stores and chained doors. (Koss 1) Koss talks about the ease of internet shopping; one can click a button and order almost anything and have it delivered right to their doorstep. (Koss 1) This article points out how internet shopping has decreased human interaction. (Koss 1) It also discusses the struggling of big box stores which often result in the loss of retail jobs. (Koss 2) In conclusion, Koss’s belief is that the “evil” internet has not only changed how humans purchase goods, but also changed the human way of life.
Amazon strives to offer its customers value through a broad selection of products, a high level of personalized customer service and competitive pricing. Innovative uses of technology and the Internet enable the online book seller to offer millions of titles, easy-to-use search and browse features, email services, personalized shopping services, web-based credit card payments and direct shipping to customers. The company has since expanded their business to various other products such as electronic greeting cards, online auctions, CDs, videos, DVDs, toys and games, electronics, kitchenware, computers and more. Customers access this vast selection of merchandise through an efficien...
Electronics websites are a strange beast at least in the way they advertise online. A majority of electronics companies choose to specialize in only a few products. Many also choose not to advertise on social media at all like in the case of Apple, and instead focus on the customer being able to find what they want or need offering advice and assistance in order to push a sale. Electronics stores also make sales on products through sponsors or reviews. My choice for a high-end website is Central Computers, my medium-end website is Best Buy, and my low-end website is Wal-Mart.
In this article, the author’s central argument is that online retailers like Amazon are harmful to society, insidious and the cause of mass retail unemployment. I disagree with the author because although Amazon takes away retail jobs, it makes new, cutting-edge jobs for those skilled in the Internet. This is a broader trend occurring in the world economy, and people should try to adapt to where new jobs are being created instead of lamenting outdated careers, such as retail. Additionally, the author states that Amazon will destroy mom-and-pop shops, but on the contrary, who is actually hurting from Amazon are large, impersonal stores like Walmart and Target. Mom-and-pop stores will be able to survive because they create a unique connection
These people come in from companies whose products are carried by Best Buy. These people are able to help customers, because they specialize in their own brand and products. Best Buy employees also learn from these people by observing them while they are in the store. They can also receive training from companies, whose brand they carry, and this can benefit both Best Buy and companies whose brand Best Buy carries. Communication and a good relationship is key for continues success for both parts. The more Best Buy employees are able to tell a customer about a specific product, the greater the chance for the product to be sold, which then can benefit both parties. Other than insurance on products, there is no product that belongs to Best Buy, that’s why it is important for them to have a good and strong partnership with those companies whose product they carry. One could say, in a partnership Best Buy is the one who knows how to sell the product, while their partners are the ones who know how to develop a product. Companies who produce their own product have started their own stores, we can take Apple for example who has their own store. However, they also have their products in Best Buy. By being able to have an Apple display in a Best Buy store, they are able to reach other customers who weren’t looking for an Apple product, but decided to go into a Best Buy
Many people have extremely busy lives and do not have the time to go out and shop for their necessities. Amazon allows society to simply order whatever they want from their electronic device, and get the product(s) shipped within a few days for a low price (Investopedia.com). One harmful effect this innovation has on society is how it puts countless number of small retailers out of business due to the fact they cannot compete with the accessibility and low prices that Amazon has to offer (Investopedia.com). By putting out these small businesses, employment for young or unskilled workers is also taken away
Today organizations are seeking the best employees to compete in the cutthroat market environment. In order to achieve their goals, they must have something to offer to their employees to keep them motivated. Employee motivation can come from management strategies, employee incentives, health, school, adoption assistance, and the more the company can offer the better and more valuable the employee can be. With that being said Best Buy might just have what most employees are looking for. Best Buy is considered to be one of the world’s largest consumer electronics retailers, with that being said more that 125,000 people are employed by Best Buy. This is a company willing to go the extra mile to make their employees satisfied which betters the
This can lead to conflicts and delays with regards to distribution and selling of these products. Additionally, the buyer
Purpose: Introduction The company I have chosen for this session long project is Amazon. The World Wide Web has helped open the door for countless companies around the world and one of those companies is Amazon that has seemingly changed the way people shop around the world. Amazon is an internet based company that competes with multiple companies around the world in providing goods and services to a large customer base. Amazon originally started off as an online book store but quickly expanded itself into multiple markets resulting in increased overall profits and expanding its market base.
uses differentiated business-level strategy by attracting customer through proving various and plentiful well-quality technology products. Moreover, the comfortable shipping environment and skilled salespeople can help Best Buy to deliver a good communication to customers. As Best Buy has been set up for over 20 years, it constructed a good and long relationship with customer loyalty, large customer base also retailer base. Thus, it is easier for Best Buy to maintain steady supplies.
As technology becomes more prevalent in everyday lives, students are always looking for new ways to use technology to their advantage. Amazon is a perfect example of this, making it easier to shop from the comfort of your home using your phone or computer. In the past few years, Amazon has become a major online marketplace that can be used to buy just about anything. Because of this online dominance, students are starting to shop on Amazon more than actual stores.
When you think of online shopping one of the first things you think of is Amazon. Amazon has one of the best supply chain systems in the world. Launched in 1995 as an online bookstore, it is now the largest online retailer in the U.S. With an online inventory of 170 million products, Amazon has an innovative supply chain management system that creates a highly competitive advantage. This “tour” of Amazon will go over some of the operations and what makes Amazon the company it is.
Amazon has recorded a magnificent success in its business throughout the years that it has been in operation. It has attracted almost all people to use it when necessary. Amazon has built its success in business methodically and slowly. Amazon has made much success because of its ability to read market trends and diversify its operations. It started as an online book selling company. However, it changed its operations and started selling other products. Currently, many large retail shops use Amazon to host and power their websites, for instance, sears and virgin megastores. Amazon now attracts over fifty million visitors in a period of one month. Amazon has tried to make their services fit each individual user. It has based its services on the end user. It has shipping discounts, customer product reviews and a credit card with bonuses. It also has prime membership, product forums and 1-click ordering system among other services. The company has tried to make a remarkable experience for customers and visitors (Thomas, 2006).
Internationally the share of online sales in retail is growing, driven by the increased sales in existing online retailers as well as by the market entry and expansion by traditional bricks-and-mortar retailers into eCommerce (Hübner, Holzapfel & Kuhn 2016:256). Conversely, online retailers are accelerating their expansion into bricks-and-mortar retailing. One such example is the merger between Amazon and Whole Foods Markets, a $13.7bn agreement under which Amazon will acquire Whole Foods Markets in an all cash transaction. This deal accelerates Amazon’s establishment of a bricks-and-mortar footprint, allowing it to reduce delivery lead times and last mile delivery costs (Retailanalysis 2017).