00:01
So here are some points related to amazon's early success can attribute for several key factors.
00:08
So, the first one is visionary leadership.
00:11
So amazon was founded in 1994 with a long -term vision of becoming a everything store.
00:21
So bezos willingness to take risks and his customer -centric approach set the tone of company's growth.
00:28
Next one is e -commerce pioneering.
00:30
So amazon was one of the first company to recognize the potential of e -commerce.
00:35
Next at customer obsession.
00:37
So amazon's focus on customer satisfaction, convenience and low price helped it build a loyal customer base.
00:45
Next one is marketplace model.
00:46
So amazon's decision to open its platform to third -party sellers with a significant strategic move.
00:53
Next one is innovation and diversification.
00:56
So amazon continuously innovated and expanded new markets and business segment including amazon web service aws and many others.
01:07
And last one is data and analytics.
01:10
So here amazon leveraged the data and analytics to understand customer behavior, optimize its product recommendation and forecast demand accurately.
01:19
So following are the advantages of opening the platform of third -party.
01:23
So increase product variety.
01:24
First is first advantages.
01:27
Second is reduce inventory cost.
01:29
Third one is revenue sharing.
01:32
And fourth one is ecosystem growth.
01:38
So ecosystem of third -party developers and partners can create a complimentary product and services...