No innovation has changed the world in recent decades

No
innovation has changed the world in recent decades as fast as the Internet.

Terms such as “E-commerce”, “Online trading” or “Online
shopping” have become established and became an integral part of the
everyday vocabulary. Companies are trying to optimize communication with their
customers on the Internet. They therefore have an interest in learning how
users deal with this medium.  Innovations
are for the development and progress of companies of fundamental core issue to grow.

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Successful companies like Amazon has been at the forefront of the most
innovative companies and were able to significantly increase their market value
for the last years. It is remarkable that Amazon either created a new market or
change fundamentals of old markets with new technologies and processes. A huge
selection of different products, low prices and outstanding customer service
was and still is an important pillar of Amazon’s success. This is especially
remarkable, because the company survived the difficult market conditions such
as the dotcom crisis at the end of the 1990s and was able to prevail in a
highly competitive market with low margins and strong competitors. As a result,
the small start-up from its beginning has become one of the biggest companies
of the internet industry. With Amazons diversification to adapt to new
technical possibilities it has expanded its business into many different
industries. Nevertheless, Amazon as an innovator with a revolutionary business
model, succeeded in establishing a clear image of its performance in the mind
of the consumers in a very short time. This development can be attributed
primarily to a strong vision (“creation of the most customer-centric
company in the world”) and the recentness of the medium. Purchasing on the
Internet was a real experience for users back in the late 90s/early 2000s and
Amazon pioneered the early users and became synonymous with internet shopping. The
entry of Amazon into new market segments in the past years has changed many B2C
markets from scratch. Due to its relevance for very successful business model
for innovation in the Internet, this project focuses on how Amazon has managed
to became the successful global company which it is right now and what
technological-driven changes in the strategies were made.