Amazon.com

“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.” – Jeff Bezos

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Have you ever heard of a website that allows you to browse variety of products and services at the convenience of your home, compare goods, offers a wish list for gifting, and allows you to shop with a simple click of the mouse?

Amazon.com, founded by Jeff Bezos is the world’s most customer-oriented online retailer, offering low prices, vast selection, and convenience to its customers. It is an entrepreneurial e-commerce platform that is now one of the Fortune 500 companies.

Its startup from Bezos’ garage as a book-selling website was everything entrepreneurial companies were supposed to be. Within a mere 2 years since start-up, it had had its IPO and earned millions of dollar. While there was substantial risk doing business on the Internet, Bezos understood that the Internet was a marketplace where there was a lower production cost precisely because all transactions were done online. He capitalized on the opportunity and was able to sell for far less than the retail sellers could. Such was Amazon’s competitive advantage that made them stand out from the rest.

Amazon did not invent anything, but rather, it revealed a new market that was overlooked before.

Internet Market