Amazon opened a 4-star store (‘Amazon to open,’ 2018). There is a need to analyze what features a company should have to compete with Amazon.
To be able to compete with Amazon company, the company should know how to manage its resources and create an exceptional ideas. Resources and capabilities are vital to consider if the company wants to have long-term success (Prieto-Sandoval et al., 2019). According to Whittington, the company should evaluate the effectiveness and a well-organized interaction of physical, financial, and human resources (Whittington et al., 2020). The author also states that “distinctive resources and capabilities” are crucial for a company’s distinctive image and competitive advantage (Whittington et al., 2020, p. 68).
Unique features inherent to the company are also a competitive advantage (Guesalaga et al., 2018). In the case of Amazon’s competitor, the rival organization might think of unique brand traits that will constitute a powerful image of a company. For example, the organization should generate unique things that are difficult to imitate for rival companies. The company may also think about improving relationships with customers to raise brand loyalty and become more competitive.
Amazon might outrun many rivals because of opening its physical stores. There are several reasons for Amazon’s success, for example, customers’ confidence in what they see in reality (Leninkumar, 2017). Perhaps, the repetition of Amazon’s way maybe not be a good idea for a company, as this stroke is associated with Amazon. The competing company should modify its strategy, using appropriate data to cope with arising problems (Camillus, 2008).
Amazon’s special feature is the store with tangible high-rated goods. After analyzing the market and consumers’ needs and wants, a rivalry agency should generate a new concept. A unique strategy is a key to success; the organization might create something that no one has yet used. It can be innovative approaches to the customer, exceptional goods from abroad, a distinctive brand image, and the unique atmosphere that is associated with the only company.
Reference List
‘Amazon to open “four-star” store in New York’ (2018) BBC News: Tech. Web.
Camillus, J.C. (2008) ‘Strategy as a wicked problem’, Harvard Business Review, 86, pp. 98-101. Web.
Guesalaga, R. et al. (2018) ‘Which resources and capabilities underpin strategic key account management?’, Industrial Marketing Management, 75, pp.160–172. Web.
Leninkumar, V. (2017) ‘The relationship between customer satisfaction and customer trust on customer loyalty’, International Journal of Academic Research in Business and Social Sciences, 7(4), pp. 450-465. Web.
Prieto‐Sandoval, V. et al. (2019) Key strategies, resources, and capabilities for implementing circular economy in industrial small and medium enterprises. Corporate Social Responsibility and Environmental Management, 26(6), pp.1473–1484. Web.
Whittington, R. et al. (2020) Fundamentals of Strategy. Pearson.