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INVENTORY MANAGEMENT AT AMAZON.COM
Submitted to:Prof. R.K. Vijaya Sarathy Director, DSBS Bangalore
Submitted by:Rupesh Kumar Charu Chandra Bajrang Agarwal Bikash Prasad
1. Introduction 1.1 History 1.2 Analysis 1.2.1 SWOT 1.2.2 Industrial Analysis 2. Online Marketing 2.1 Online Marketing Domains 2.2 Types of online Marketers 3. Inventory Management 3.1 Inventory outsourcing 4. Conclusion 5. Issues 6. Bibliography
One of the first companies that took advantage of this was the online bookshop Amazon. The high street and mail order systems still have a place in the mix of purchase routes. It concludes with a brief note on the future challenges in Amazon's warehouse management . The Internet revolution has seen a massive increase in the long distance purchases made by consumers. founder and chief executive of Amazon.Introduction ''The logistics of distribution are the iceberg below the waterline of online bookselling. It then elaborates on the strategies adopted by Amazon for managing its inventory. find a parking spot. however it is no longer the only method of making purchases. and deal with traffic. The case also discusses Amazon's value propositions and its criteria for choosing strategic partners. There is no more need to fight crowds.'' Jeff Bezos. The case takes a look at the different products and features offered on the site. The lack of geographical importance has influenced the strategy of Internet companies. The case provides an overview of Amazon. the online consumer today knows the convenience of purchasing a book online and having it delivered to their door in a matter of a few days. The case takes a look at Amazon's decision to sell the products of competing retailers on its site.com.com's inventory management. Although the site was originally launched as an online bookstore it eventually offered several other products to keep abreast of the competition. In fact. Jeffrey Preston Bezos the founder of Amazon.com The Internet has changed the way that we perceive business and the way that we as consumers may make our purchases. as geographical barriers are no longer as important as they were.com launched the company when he realized that Internet provided immense scope for online trading. It also explains Amazon's decision to outsource inventory management to distributors.
1 History Amazon has grown admirably from its initial beginnings as a small online bookseller to a giant superstore company. One of several factors that have proven Amazon. video games. it has incurred significant losses and it becomes more expose to a greater competition and threats. massive sales volume and realizing economies of scale which contribute a lot to the success of this company Founded as Cadabra. Germany and Japan giving it global Internet exposure. 1. Britain. and videos to online auctions and house wares. providing customers with outstanding value and a superior shopping experience.com can be attributed to its diversity in terms of geography as well as its diverse selection of merchandise. It is an American electronic commerce company based in Seattle. apparel. it has also been successfully marketed.com successful is that it has the first mover advantage. Amazon. Cutting costs and achieving profitability remain Amazon·s greatest challenges.com currently operates four international websites in France. Not only was it first in its industry. there are key factors such as a strong brand.The continued success of Amazon. the actual presentation and processing are seen as a result of the underlying technology and the way the company uses it. computer software. However. Washington. beginning its operation in July of 1995. During this process of rapid growth. Amazon. .com was launched in 1995. But as with any Internet site. It is one of the first major companies to sell goods over the Internet and one of the most recognized and respected online businesses. CD's. electronics.com by Jeff Bezos in 1994. It has become the number one online retailer by steadily building its reputation and brand. Moreover. music CDs. ranging from media such as books. it has expanded from its existing business of selling books to selling a wide variety of products such as DVDs.
based upon preferences demonstrated through purchases or items visited.1Swot analysis Strengths 1. 3.2Analysis 1. It was one of the original dotcoms. Product diversification from books and CD/DVD markets has provided additional customers in other product areas and indicates strategic movement to grow the business through new customer bases 4. thus shipping globally on selected products 1. It was an early exploiter of online technologies for ecommerce. DIY and more. Amazon is a huge global brand. This enables them to offer to individual specific items. or bundles of items. food and more (Wikipedia 2006). Similarly. Strong distribution channel . 2. and now has product categories that include electronics. France and Japan.furniture. Amazon aside from its domestically shared market also set up four other separate online stores in the United Kingdom. and over the last decade it has developed a customer base of around 30 million people. which made it one of the first online retailers. Customer Relationship Management (CRM) and Information Technology (IT) support Amazon's business strategy. It is recognizable for two main reasons. It has built on nits early successes with books. toys and games. The company carefully records data on customer buyer behavior.2.
However the shipping costs could be up to $500m. The company may at some point need to reconsider its strategy of offering free shipping to customers. The library's . If these costs are not absorbed they are passed back to the consumer both with potential negative effects. Opportunities 1. No region based sites. it risks damaging its brand. 4. As Amazon adds new categories to its business. Amazon is the number one retailer for books. It is a fair strategy since one could visit a more local retailer. Amazon are dependent on external delivery companies to carry out the delivery function of the interface with the customer which can lead to uncontrollable service level problems and potential cost increases in line with the wider transportation industry such as rising fuel and increased vehicle taxation. 3. in 2004. The benefit is that customer·s can search for rare or antique books. For example the company announced a deal with the British Library. and pay no costs.5. There are also opportunities for Amazon to build collaborations with the public sector. Negative cash cycle 6. and such a high figure would undoubtedly erode profits. London. Online retailing is still not matured in India. it can tap the market. 2. 2. Low prices Weakness 1. diversification may lead to losses and decrease in brand value.
by trading in overseas markets in different cultures such seasonality may not be enduring.catalogue of published works is now on the Amazon website. E-commerce expansion in Asia and the Pacific Threats 1. 2.as these costs are not absorbed into the direct business but paid to a third party it is assumed these will be directly passed onto the consumer which can have a negative impact to brand perception from the consumer viewpoint. 3. Growth of internet users in the next five years.2 Industrial analysis Five forces model which was proposed by Michael Porter. Increasing transportation costs will directly impact delivery charges to customers . power of buyers and power of . The products that Amazon sells tend to be bought as gifts. provides a robust and time-tested framework for analyzing any industry. Low economic performance of world economy 4. 5. potential entrants. Competition will increase due to the low barriers to entry in the market: offline companies are coming online 3. predominantly in the international market 4.2. reflected in the strength of the five forces (industry competitors. especially at Christmas. and threat of substitutes.5m books on the site. Hacker·s problem 1. However. This means that there is an element of seasonality to the business. meaning it has details of more than 2.
Threat of substitutes Buyer s power Supplier s power Inter firm rivalry Barriers to entry Michael porter·s five forces model .suppliers). The collective strength of the five forces determines the ultimate profit potential in an industry.
There are numerous industry players. however. Adding the flame of intensified rivalry is the high fixed and storage costs of the industry since firms needed to stock inventory in their warehouses for ready delivery of an order.Barriers to Entry Threat of entry is considered medium to low. The capital requirements necessary to establish a bricks and mortar bookstore would be virtually impossible for a newcomer. they can be considered niche (eBay) and overly diversified (Yahoo!) competitors of a diversified industry firm like Amazon. or in the case of untapped technology partners. nurturing the commissionbased associate websites. Imitating such would also require relationship building which is difficult when relationship is already established by the first mover. The book retail industry has very high barriers to entry. As a result. Consumers know the big name players. requires significant capital and strategic plan proposals to move the other party. Competitors also have little product . a head-to-head competition exists against Barneys (who is backed by retail stores) and Price line (who has the highest employee per revenue contribution in the industry) created strategic group together with Amazon. Being the first mover in online bookstore industry. High product awareness and large marketing budgets make it very difficult for new entrants to enter into this industry. The factor that separates Amazon from the inexperienced firms is its 8-year capital intensive and continuous upgrade of services through acquisitions and alliances. In both cases. Inter firm Rivalry Competitive rivalry is medium to high. Amazon would be the best example of what amateur firms would be faced. and endless technology development and innovation. known industry players would be the benchmark requiring the deal a considerable amount of time and money impractical for the new player.
Now with the advent of eBay. Associates allow a webmaster to earn money by recommending products from others. which could be a large chain. Also. A consumer could purchase books from a bricks and mortar store. As mentioned earlier. With the onset of Internet bookstores. except for auctioned product maybe and other exclusive rights of players to sell supplier·s products. Looking at the entire book retail industry. All an individual has to do is form an agreement to sell products for the company.com and google. The company takes care of all the logistics.com offer. competition is quite diverse. This increases supplier offerings. making customer switching costs low. we see internet savvy businesses springing up offering more valuable goods and services at lower costs. . A consumer could also choose to buy their books on-line. a non-book retail store. The same is true of associates programs that amazon. price is even more of a factor in consumer book purchasing. Many loyalty programs include excellent services that customers demand on-line. Supplier power Supplier power is higher when buyers have fewer choices from whom to buy.differentiation. or a small independent store. Individuals can have a thriving business selling goods of larger companies without having to carry inventory. Customers want to solve their problems and many times they are more successful on-line than on-phone. many people are assuming roles as drop shippers. Businesses are forced to add value to their products and services to get loyalty. Buyer power Buyer power is higher when buyers have more choices. drop shipping has increased the amount of suppliers available.
report. .com has some of the toughest competition in the World. Presently. has an abundance of capital to back its venture into the online retail book business. and Amazon. but of comparable quality. The internet allows this with the "global economy".µ. substituting credit card capabilities. "Independent bookstores are rapidly disappearing amid the dominance of superstores such as Borders and Barnes & Noble. there were over 5. 2.300 according to a Book Industry Study Group Inc. services and products are cheaper. there are only approximately 3. and looking at better values from cheaper sources. We can substitute product by purchasing from companies overseas where labor.Threat of substitute Threat of substitute products or services is high when there are many product alternatives. Examples of alternatives are exchanging brand names. Online Marketing Competition today in the online retail business is fierce. Among the most prominent competition are Barnes & Noble and Time Warner publishing which although is new to the scene. This is different than having many suppliers.500 independent bookstores in the United States. As recent as five years ago.
The web now offers marketers a palette of different kind of consumers seeking different kinds of consumers seeking different kinds of online experience. . Internet consumers differ from traditional offline consumers in their approaches in buying and in their response in marketing.1 Online marketing domains The four major online marketing domains are shown in figure given below Targeted to consumers Targeted to businesses B2C Initiated by business B2B (business to business) C2B (consumer to business) (business to Consumer) C2C (consumer to Consumer Initiated by consumers Business to consumer (B2C) It is selling goods and services to final consumers. railways. and air and movie tickets. Today·s consumers can buy almost anything online from. In the internet exchange process customers initiate and control the contact.2. This type is used by many online companies like. According to the Associated Chambers of Commerce and Industry of India (Assocham). GAP. visits different sites and then do purchasing.clothing. Consumers compare prices. kitchen gadgets and airline tickets to computers and cars. Delhi e-shoppers Population was 20 percent in 2006-07. As more and more people find their way onto the web The population of online consumers is becoming more main stream and diverse.Amazon. in Mumbai it was 24 percent with maximum eshopping taking place in electronic gadgets. apparel and design purchases.com.
Consumers to Business (C2B) The final online marketing domain is consumer to business online marketing. customer purchasing and customer support services online.sun. e-mail. Most major B2B marketers now offer product information.com). With the help of internet consumers find it easier to communicate with the companies. select detailed descriptions of sun·s products and solutions request sales and service information. Most companies now invite prospects and customers to send in suggestions and questions via company websites. Beyond this rather than waiting for invitation consumers can search out sellers on the web learn about their offers. initiate purchase and give feedback. online product catalogue. online trading networks. .corporate buyers can visit sun Microsystems web site (www. and other online resources to reach new business customers. For example. Consumer to Consumers(C2C) Much consumer to consumer online marketing and communication occurs on the web between interested parties over a wide range of products and subjects. Another example is of CISCO it takes 80% of its order online. e-bay. For example.Business to Business(B2B) B2B marketers use B2b web sites.Amazon.com auctions. serve current customers more effectively and obtain buying efficiencies and better prices. In some cases the internet provider the internet provides an excellent means by which consumers can buy or exchange goods or information directly with one another.
and many high. Click and mortar companies Click only companies Click only companies come in many shapes and sizes.000 office. Click ²and. The hype surrounding such click-only web business reached astronomical levels during the ´dot-com gold rushµ of the late 1990s.comes that sell products and services directly to final buyers via the internet. Two types of online marketers are there:1. They include e -tailors.and-mortar companies realized that to compete effectively with online competitors they had to online themselves.Amazon. when avid investors drove dot-com stock prices to dizzying heights.supply superstores rack up annual sales of $13. entertainment etc.mortar companies As the internet grew established bricks. For example-office depot·s more than 1. Click only companies 2. weather forecast.flying. overvalued dot ²coms came crashing back to the earth.2 Types of online marketing Companies of all types are now marketing online.com. dot. many one-time brickand ²mortar companies are now prospering as click-and-mortar companies. which started as search engines and later added services such as news.but from the internet.5 billion in more than 23 countries but you might be surprised to learn that office depot·s fastest recent growth has come not from its traditional ´brick-and ²mortarµ channels . The click only companies also include search engines and portals such as yahoo and Google. However the investing frenzies collapsed in the year2000.2. stock reports. . Thus. Examples.
McDonough. Whenever a customer placed an order a series of automated events followed which made inventory management easier. he aimed at hassle free operations. Building warehouses and operating them was a very tough decision for Bezos. Amazon issued $ 2 billion as bonds.000 square feet to over five million square feet. In 1999. In the same year Amazon increased its worldwide warehousing capacity from 300.25 percent compared to the return rate of 30 percent in many segments of the online retail industry. toys and hardware. Lexington. CDs. On the whole Amazon had ten warehouses. Amazon added six warehouses in Fernley. He wanted to offer his customers a wide selection of books. Campbellsville/ Kentucky. Kansas. Georgia and Grand Forks. North Dakota. Each warehouse cost him around $ 50 million and in order to get the money.3. Kentucky. This was a code of numbers such as 6-5-4 which indicated the book·s . but did not want to spend time and money on opening stores and warehouses and in dealing with the inventory. When a customer ordered a book from Amazon his invoice mentioned the title of the book followed by a barcode. Amazon·s warehouses which was a quarter-mile long yards wide stored millions of books. Since Amazon ordered books and other products from warehouses only after the customers had agreed to buy them the return rate was only 0. They were very well maintained and completely computerized. In fact the number of lines of code used by Amazon·s warehouses was the same as the number used by its website. Coffeyville. He however realized that the only way to satisfy customers and at the same time make sure that Amazon enjoyed the benefits of time and cost efficiency was to maintain its own warehouse. Nevada. Inventory management When Bezos started his venture.
Then the company decided to manage distributing channels. Accordingly Bezos decided to stock the stores with every possible item that customers were likely to buy. So. It partnered with other companies for shipping the inventory. Then they were packed and parceled. Amazon leveraged on its e-commerce expertise. They upgraded the software and also tried split shipments. CDs videos etc. An important decision was taken was buying of books. Here the barcodes were matched with the order numbers to find out who would receive each item. In the holiday season of 1999. Although this strategy was appreciated· but Bezos faced a lot of problems. It revamped the layout of its warehouses making it easier for the company to locate and sort customers. this was made possible by managing the warehouses efficiently. The workers decided the order in which the items had to be picked and then verified the weight of each product. These products were kept in a green crate which contained orders of different customers. Improved inventory management helped Amazon to get . directly from publishers rather than from distributors. while the partners shipped the items. Amazon also tried to cut down its expenses.location in the warehouse. Computers sent signals to the workers wireless receivers telling those items had to be picked off the shelves. By doing this it managed to save all the expenses related to filling and shipping orders. Amazon made careful decisions about which products to buy from where. It was then Bezos realized the importance of Inventory Management and decided to reduce the size of inventories. Most of the orders were shipped either through the United States postal service or United States parcel service whichever is located nearer. Amazon was determined not to disappoint any customer who visited its site for his holiday shopping. when this got filled they were placed on conveyor belt and sent to central point. It decided to outsource some of its routine activities so that it could concentrate better on its core activities.
. capital. It is essentially a division of labour. labor. or to make more efficient use of land. One is to commission the development of an application to another organization. the retailers make their profit on the difference between the wholesale and retail price.86 billion in seven years since its launch in 1995. The latter concept might not include development of new applications. redirecting or conserving energy directed at the competencies of a particular business. Outsourcing in the information technology field has two meanings. Drop shipment model Drop shipping is a supply chain management technique in which the retailer does not keep goods in stock. 3. but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler.1 Inventory outsourcing Outsourcing is subcontracting a service such as product design or manufacturing. The decision to outsource is often made in the interest of lowering cost or making better use of time and energy costs. (information) technology and resources. who then ships the goods directly to the customer. As in all retail businesses. The other is to hire the services of another company to manage all or parts of the services that otherwise would be rendered by an IT unit of the organization.net profit of $ 5 million in the fourth quarter of 2001 after accumulating a deficit of $2. Outsourcing became part of the business lexicon during the 1980s. usually a company that specializes in the development of this type of application. to a thirdparty company.
The main distributors of Amazon included Ingram Micro and Cell Star handled cell phone sales while Ingram Micro. for distribution of desktops. laptops and other computer accessories. Amazon earned almost the same profit selling on commission as it earned on retail. Amazon added the game then forwarded the whole box to the customer. Amazon had external distributors for most of its products except the bestsellers. If a book that is not so popular is ordered Amazon requested that item from its distributor who then shipped it to the company.In 2001 Amazon decided to outsource its inventory though it knew that it was a huge risk. In 2001. In the company. Further Amazon entered into contract with Ingram Micro Inc. An advantage of this feature was customers could now verify the prices . the items the items were unpacked and then shipped to the respective customers. then the following procedure was adopted: Ingram sent book to Amazon. Since almost 35 percent of orders placed at Amazon were of different categories the drop shipment model was not very effective. handled computers and books. Amazon did not stock every offered on its site. Drop shipment model was very successful so Amazon decided to extend this model to all categories too. a whole sale distributor. which was its biggest strength. When Amazon managed its own inventory it had earned the reputation of providing superior customer service. So basically. but if a single ordered had several items such as a book stocked by Ingram and a game stocked by Amazon. Amazon acted as a trans-shipment centre and ensured that the entire process of shipping from the distributor to customer was done very efficiently. Bezos came up with the idea of including the products of competing retailers and some used items on their website. It stocked only those items that were popular and frequently purchased. The major disadvantage of this model was if the customers ordered only a single item at a time the drop shipment model was extremely helpful.
there are key factors such as a strong brand. The company also decided to reduce shipping charges. massive sales volume and realizing economies of scale which contribute a lot to the success of this company. The distributors and publishers had to be paid 45-90 days after the books were bought from them. During this process of rapid growth. while the cost of operating them decreased from 20 percent of Amazons revenue to less than 10 percent. However. or video stores. Generally physical bookstores having a wide range of books needed to stock about 160 days worth of inventory.com to face the threats pose by other online bookstores. Cutting costs and achieving profitability remain Amazon·s greatest challenges. in this way Amazon used to get a month·s of interest free money. providing customers with outstanding value and a superior shopping experience. Though Amazon spent millions of rupees in marketing in order to get new customers it managed to leverage the amount spent because of its lower capital costs. In 2003 Amazon decided to slash down its shipping charges. Customers who visited the site were greeted with a pop up window announcing the company·s decision to provide free shipping for those who bought two or more items in any combination from the sites books. Conclusion Amazon has grown admirably from its initial beginnings as a small online bookseller to a giant superstore company. 4. s warehouse could handle thrice the volume they used to handle in 1999. Essentially. By 2003Amazon. music. So the company did not need to advertise its low price. These factors and the people around the company help Amazon.of Amazon·s products vis a vis those of other retailers. the company should aim to maintain its . it has incurred significant losses and it becomes more expose to a greater competition and threats.
One of the reasons was variable costs incurred by multiple delivery attempts and reverse logistics. In order to do this. In the late 90s. 12% of the inventory at Amazon was stored at wrong places leading to delayed orders and lost time. by 2002 this was reduced to 4 percent because of better software and storage facilities. Amazon. With so much of competition and problems one thing is for sure that Amazon is truly an example of how to manage inventories effectively.com should develop strategic partnerships with all of its main suppliers Although online shopping has become popular over the years. Despite all measures that Amazon took to manage its inventory more efficiently.gross margins in its existing business and in future product lines such as music CDs and videos. Amazon had to struggle to make profits. . logistics experts still opinioned that Amazon·s warehouses were working less than 40 percent capacity.the return of products by the customers. According to experts Amazon should either reduce the number of warehouses or increase their sales. Despite all difficulties Amazon maintained its large inventory in a very efficient way.
Issues Question 1 Amazon planned to do things differently for the 2000 holiday season. disappointed. On the whole Amazon had ten warehouses. . So. Right from the latest novel to the chartbuster movie of the season. In 1999. it meant that some of the customers were bound to be disappointed. he wanted everything to be stored to ensure that none of the customers logged out of the site. However if fewer goods were stocked. He knew that a large number of piled up goods represented unutilized cash which could be used elsewhere in his business. Amazon added six warehouses. Although the strategy adopted by him was appreciated Bezos had to face a lot of problems too while trying to manage his large inventory. Bezos realized the importance of managing inventory in his company. the company decided to do things differently in the holiday season of 2000. In order to overcome this tedious task of inventory management. Building warehouses and operating them was a very tough decision for Bezos. Bezos decided to stock the stores with every possible item that customers were likely to buy. Each warehouse cost him around $50 million.5. Amazon was determined not to disappoint any customer who visited its site for holiday shopping. What were the reasons that led to the revamping of inventory management methods? How was inventory made more effective at Amazon? Answer In the holiday season of 1999. Amazon·s warehouses were a quarter-mile long and 200 yards wide stored millions of books.
After accumulating a deficit of $5 millions in the fourth quarter of 2001. Amazon leveraged on its e-commerce expertise. Improved inventory management helped Amazon record its first ever profits in the fourth quarter of 2001.Amazon managed to reduce the size of inventories even as the company offered more products on its site. It decided to outsource some of its routine activities so that it could concentrate better on its core activities. videos etc directly from the publishers instead of buying them from distributors. Amazon refined its software. Amazon also maintained a good relationship with its vendors so that it could extract best deal from them. This was made possible by managing the warehouse efficiently. The company then had to decide which of the distribution centre it would send its products to and then know how to receive and track the product once it was in the warehouse. .93 billion which was 26% higher than the sales of 2001($ 3. it managed to save all expenses related to filling and shipping orders. Amazon also decided to by its books. In order to the inventory. This profit was mainly attributed to its ability to reduce costs in stocking and shipping goods. Amazon also tried to cut down its expenses. CDs . It revamped the layout of its warehouses making it easier for the company to locate and sort customer orders. Amazon had sales record 0f $1. So while the partners shipped the items.12billion). Amazon made careful decisions about which the products to buy and where to buy them from. By doing this.1 billion in the fourth quarter of 2001 which was a 15% increases over the sales recorded during the same period the previous year. In 2002 Amazon recorded sales of $3. It partnered with other companies for shipping the inventory. The new software helped the company accommodate inventory as per the demand in different regions.
Outsourcing inventory was a risky affair as when Amazon managed its own inventory. moreover a huge amount of capital was locked in the form of inventory which can be used for other purpose such as increasing distribution channel. When in early 2001. Said Bezos. For outsourcing it used drop. though it faced a lot of problems like reverse logistics and multiple delivery then also it was profitable. ´giving people the choice to buy new and used side by side is the good for the customers. Maintaining inventory at the cost of profit cutting was not a good decision. it had earned the reputation of providing superior customer service.shipping model. As we can see in the case Amazon did not fully outsourced the inventories it keeps things which were popular. Give them the choice. It was a very good way to cut down its expenses and concentrate on core activities. An advantage of these features was that the customer could now verify the prices of Amazon·s products vis-à-vis those of the other retailers. According to our point of view it was a right decision to outsource inventory as maintaining a huge inventory was harming Amazon. So the company did not need to advertise its low prices. Amazon earned almost the same profit selling on commission as it earned selling on retail. The idea of selling other retailers products on Amazon. which was its biggest strength.com. They are .com was very profitable according to case.Question 2 Why was Amazon apprehensive about outsourcing inventory management? Do you think it was a wise on its part to go ahead with its decision to outsource inventory management? Also comment on the company·s idea of selling other retailer·s products on Amazon. Answer Amazon was apprehensive about outsourcing inventory management because maintaining large inventories for satisfying all customers was a costly affair. Bezos came up with the idea of including the products of competing retailers and some used items on their websites.
They may not want to plunk down $25 for a brand new author they·ve never tried. This service proved to be immensely profitable for Amazon. . This lets them experiments. Amazon only handled the net orders. the companies handled the inventory. The data we have tell us that customers who buy used books from us go on to buy more new books than they have ever bought before.not going to hurt themselves with that choice.µ By 2003.
Supply chain management and e. Bauer .com 5.com Books Referred 1.com 2. Principles of Marketing. www.com 3.commerce. www.wilsonweb.wikepedia.expressindia.siliconindia. Poirier & Michael J.com www. www. 4.Bibliography Websites 1. www.amazon. Charles c. Philip Kotler 2.
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