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

Who is Jeff Bezos ?

Jeff Bezos is first centibilioner of our planet. He started amazon as a online bookseller  and today as company's name amazon has truly becomes as big as amazon river from which it took inspiration.

Jeff Bezos born on the 12th july 1964 when Jeff was kid he love to play with computer.He completed his graduation in computer science and electrical engineering from princeton university. After graduation he worked in wall street where he became the youngest seniour vice president.

THE IDEA 

The early 1990's the popullarity of internet swept across the world. Jeff immediately  realizes that in future internet going to be biggest avenue for business then he left his job as vice president of wall street on 1994 and started working  on his idea. He listed out 20 products that can be possible to sell on internet.

Jeff eventually decided that his venture for would be sell books over the web due to the large worldwide market for literature.

THE BEGINING

On web amazon.com debuted in 1995 within a month of launching a web site Jeff and amazon packed orders from 50 states and 45 countries.Then within month of selling books on web site amazon.com ranked 1st on web.The responce recieved from customers are really appreciating and motivating for Jeff Bezos.

After successfully selling books he started selling toys, music CD, electronics devices, computer softwear on customers demand.

Jeff Bezos is then named as Times Magazine's Person of the year in 1999.

                                                 

THE INOVATION

Jeff always believes innovations, from begining Jeff  comes with new innovation and that innovation turn as booster for amazon everytime.

 AMAZON PRIME 

In 2005, Jeff come up with amazon prime a subscription  service that gives users   access to free two-day delivery (one-day in some areas), streaming music and video, and other benefits for a monthly or yearly fee.

Through this services amazon also started a drones deliveries .

In april 2018 amazon reported prime had more than 100 million subscribers.

AMAZON KINDLE e-BOOK READER

In 2007 Jeff introduce a his new and cool invention a kindle e-book reader where he shifted amazon reader  hardcover to e-book comfortably.This kindle e-books reader is loved by all amazon customer and this kindle e-book reader turns  as a popularity booster for amazon.com after it's launching.

In 2011 amazon announced that they are selling e-books more than hardcover books.

THE CUSTOMER SERVICES

                                                    

Jeff Bezos everytime says that customer is a King and I am the servant, he not only says that he always serve his customers like king. This is the only reason that amazon is succeed to build a strong relation with his customers.Amazon nearly has about 310 millions of active customers accounts all over the world.

This is the story of man who wanted to give PS3 as a surprise birthday gift to his son. But he did not recived product even after 4 days. He called customer representative and explained all story.The representative assured him that he will get his order of PS3 a very next day. When man asked how much should he pay, the representative replied Nothing, and this man went on to write article in  the  New York Times which was  read by millions of potential customers.

This is how amazon succeed to build relation with customer, amazon know very well that word mouth and positive review that customer gives to other that is effective than company's promotion.The good reviews given by customer help other people to make right decision.

THE FOCUS

Jeff always focus on following that why  today he is first centibillionaire  :

CUSTOMER IS THE KING & I AM THE SERVANT

• He focus on what customers like most.
• He focus on what customer dislike most.                                                                                            

        Jeff find that customer dislike most is  1- DELAY   2- DEFECTED PRODUCTS   3- OUT OF STOCK                              

LONG TERM VISION

Jeff always focus on long term goal he say OUR VISION IS TO USE THIS PLATFORM TO BUILD EARTH'S MOST CUSTOMERS CENTRIC COMPANY. A PLACE WHERE CUSTOMER CAN COME TO FIND AND DISCOVER ANYTHING AND EVERYTHING THEY MIGHT WANT TO BUY ONLINE.

TAKE QUICK DECISION WITH 70% INFORMATION

Jeff take quick decision with 70% information, when he got  idea of amazon prime service then in just 111 days of  work he starded amazon prime service with 70% of information. In starting he face various problem but he solved every problem as he get problem.

Jeff says FIRST PRODUCT IS NEVER THE FINAL PRODUCT.

VALUE INOVATION

when he start amazon prime a innovative service where he gives free one day shipping, free same day delivery, exclusive deals and many more. In result he get  1- loyal customer  2- customer retention   3- recurring revenue.

The customer never demanded this kind kind of any services but  for the customers satisfaction he come up with amazon prime. This move  made Jeff  a FAST MOVER.

80% PRODUCT AND 20% PROMOTION

Jeff says, if the customer is  satisfied with product and service given by our company then we don't need a promotion of our company  we just have to focus on building  good product and services so the customer will promote our company with their love.

JEFF BEZOS BEAT BILL GATES

On march 2018 Jeff bezos beat Bill Gates and become the first centibillionaire of the Earth according to Forbes world Billionaire list. Notably, the second place on the list, which was bagged by  Bill Gates is at least $22 billion away with a net worth of $90 billion while legendary investor Warren Buffett holds the third position at $84 billion. 

Jeff Bezos  had a bumper 2017, with his net worth jumping by nearly $40 billion in just 12 months. 

Hey you all what you learn from the world's first centibillionaire  tell me in comment ?

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