Amazon is the world’s largest online retailer and a forerunner in the field of internet commerce. It began as an online bookstore, but it has expanded to sell anything that can be purchased online due to its success. It is known about where to start. Furthermore, Amazon has grown globally and currently works through a combination of localized portals and globalized shipping and logistics platforms worldwide.
Many competitors have attempted to mimic and improve Amazon’s business model by exploiting technology as a source of competitive advantage, reaping the benefits of economies of scale, and harnessing synergies between internal resources and external forces.
Amazon’s Patent Portfolio is Diverse
The history of Amazon’s patents is as old as the firm itself. With the initial patent filed in 1995, it’s simple to see how the corporation has amassed thousands of patents. In the company’s early years, Amazon gradually intensified its patent filing operations.
By 2011, Amazon had filed patents for various technologies, including Cloud Computing, which is the company’s third-largest revenue stream. Amazon had also begun filing patent applications in augmented reality and speech recognition. Logistics and Artificial Intelligence are the two areas where Amazon has the most patents. Aside from this, Amazon’s patent portfolio includes Media Entertainment and E-commerce applications.
Stats on Amazon’s Patent Prosecution
- 1. Function as the wheel’s hub
Initially, free delivery was an incremental enhancement in Amazon Prime’s value proposition. That has subsequently evolved into the Amazon Empire’s lynchpin. According to Jeff Bezos, Prime has over 100 million customers, making it the most successful loyalty program ever. Amazon’s use of Prime as a barrier to entry will only grow.
While independent, direct-to-consumer channels are preferred by sellers of everything from throwaway fashion to antiquities, Amazon is the 800-pound gorilla. Sellers lament their inability to control the MAP (minimum advertised price). Companies are pursuing their dot-com sites where they may control distribution for this reason. The use of Prime should be at the heart of any marketing campaign.
- Small-scale business fuel
While Amazon’s consumer sector gets all the attention, its move into B2B is just as disruptive. Amazon wants to be the leader in warehouse automation, logistics, infrastructure, and cashless checkout. Amazon’s Launchpad, a tool built for entrepreneurs, is a unique offering for small businesses.
Amazon is expected to provide additional funding to new enterprises to complement its different retail services. As the economy shifts to asset sharing and usage-based pricing structures, Web Services will continue to be the company’s cash cow.
- Supply chain logistics and home delivery
Amazon is already putting a lot of pressure on its competitors’ supply networks by requiring things to be delivered within 48 hours. To meet demand from coast to coast, eCommerce companies are forming networks. Amazon Go stores are test kitchens for future stores, with little to no work. Technologies partners who can build retail technology have a lot of potentials.
- Synthetic intelligence
Alexa and Siri are bickering like a pair of sorority sisters about who gets to use the restroom first. While Siri is built into the iPhone, Alexa gives you unrivaled access to Amazon’s secret weapon: zero-click. Zero-click purchasing will revolutionize shopping by allowing consumers to restock essential items with just a few voice commands. Amazon has even created an “Alexa Fund” for entrepreneurs that focuses on game-changing artificial intelligence investments.
- Medical care
Amazon appears to be preparing to enter the healthcare industry, maybe with a big move into pharmaceutical services. Pharmacy is an industry that might be quickly disrupted if healthcare inflation continues unchecked. It has also partnered with Cardinal Health and other distributors to expand its medical device reach to hospitals and other institutions.