Managerial Economics Case Study The Online Retail Giant...

Managerial Economics Case Study The online retail giant known as Amazon.com Inc., has recently announced a chain of new projects. Some examples are Amazon Go, small-format grocery stores powered by artificial intelligence technology, Amazon Prime Air, delivery services by drones, and Amazon Echo, a hands-free voice controlled speaker. These are only some of the many projects that Amazon has started or announced over recent years. Through these projects, Amazon is attempting to expand their company by entering and investing in different markets. Amazon has constantly diversified their products which eventually led to strategic interaction with retail competitors and attempts to maximize profits in the long run while also facing costs along the way. Amazon.com originally started as an online bookstore that revolutionized the book selling industry. Jeff Bezos (the company’s founder, CEO, and president) decided that his venture would specialize in selling books over the Web, due t o the large worldwide market for literature, the low price for books, and selection of titles that were available in print (Funding History). Other major book selling companies such as Barnes and Nobles and Borders were focused on opening traditional brick and mortar stores while Amazon focused on online book selling. As a pioneer in the emerging Internet commerce industry, Amazon changed the book selling industry within two years. In 1997, Amazon had already reached the milestone of one millionShow MoreRelatedWalmarts Failure2872 Words   |  12 PagesHow Can Wal-Mart Fail? Introduction The demise of so-called corporate giants dates back to 476 A.D. with the fall of the Roman Empire. The decline of the Roman Empire can be compared to today s failures in corporate America. 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