Amazon to now tell 3rd-party sellers which products will be popular

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San Francisco, Oct 21 | After facing criticism for allegedly copying popular products and manipulating search results to boost its own brands, especially in India, Amazon has now announced a new tool that will help third-party sellers with detailed insights into what customers are searching for, clicking on, and buying, as well as sales history, pricing trends and more.

Amazon said it is testing the ‘Product Opportunity Explorer’ feature in a beta programme through the end of the year and will expand the tool to all sellers throughout 2022.

“Identifying and launching new products is key to retail success, but it can be costly and time consuming. Amazon’s new Product Opportunity Explorer tool helps take the guesswork out of identifying which products to launch by providing sellers with rich insights into what customers are searching for, clicking on, and buying, as well as not buying,” the commerce giant said in a statement late on Wednesday.

The tool, announced during the ‘Amazon Accelerate’ event, helps sellers identify niches of emerging product opportunities by providing detailed data on search volume and growth, sales history, and pricing trends, so they can identify and act on customer demand.

“Amazon has a long track record of inventing for sellers, and our Product Opportunity Explorer tool is our latest innovation that provides them with insights to help them bring new products to market faster and more efficiently,” said Ben Hartman, Vice President of North America Selling Partner Services at Amazon.

The new tool comes at a time when Amazon, as per a Reuters investigation, has been accused of using data from third-party sellers to determine products it would create.

The report reviewed “thousands of internal Amazon documents, that the US company’s India operations ran a systematic campaign of creating knockoffs and manipulating search results to boost its own private brands in the country, one of the company’s largest growth markets”.

After the report came out, five members of a US congressional committee have told Amazon that it led them on the wrong road during a probe on business practices.

In a letter, addressed to Amazon CEO Andy Jassy, the lawmakers asked Amazon to provide “exculpatory evidence” to corroborate the sworn testimony that several leaders, including then CEO, Jeff Bezos, provided to the antitrust subcommittee in 2019 and 2020.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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