same year, Amazon started Fulfillment by Amazon which managed the inventory

of individuals and small companies selling their belongings through the company
internet site. In 2012, Amazon bought Kiva Systems to automate its inventory-
management business, purchasing Whole Foods Market supermarket chain five
years later in 2017.

On February 2, 2021, Amazon announced that Jeff Bezos would be stepping

down as CEO and transition to Executive Chair of Amazon's board in Q3 of 2021.
Andy Jassy, who is currently CEO of AWS, will succeed Bezos as CEO of the
company.

The company was created as a result of what Jeff Bezos called his "regret
minimization framework", which described his efforts to fend off any regrets for
participating sooner in the Internet business boom during that time. In 1994,
Bezos left his employment as vice-president of D. E. Shaw & Co., a Wall Street
firm, and moved to Seattle, Washington, where he began to work on a business
plan for what would become Amazon.com.

On July 5, 1994, Bezos initially incorporated the company in Washington

state with the name Cadabra, Inc. After a few months he changed the name to
Amazon.com, Inc, because a lawyer misheard its original name as "cadaver".] In
its early days, the company was operated out of the garage of Bezos's house on
Northeast 28th Street in Bellevue, Washington. In September 1994, Bezos
purchased the domain name relentless.com and briefly considered naming his
online store Relentless, but friends told him the name sounded a bit weird. The
domain is still owned by Bezos and still redirects to the retailer.

The Marketing Accountability Standards Board (MASB) endorses the

definitions, purposes, and measures that appear in Marketing Metrics as part of
its ongoing Common Language in Marketing Project. In a survey of nearly 200
senior marketing managers, 71 percent responded that they found a customer
satisfaction metric very useful in managing and monitoring their