• Home
  • Economics
    • Scarcity
    • Opportunity Cost
    • Goods and services
    • Market and economic systems
    • Economy
    • Production
    • Factors of production
    • Production function
    • Equilibrium
    • Economies of scale
    • Economies of scope
    • Efficiency
    • Productivity
    • Comparative advantage
  • Microeconomics
    • Utility
    • Supply and demand
    • Elasticity
    • Economic surplus
    • Consumer surplus
    • Producer surplus
    • Market failure
    • Market structure
  • Macroeconomics
    • GDP
    • Economics GDP Formula
    • GNP Formula
    • NDP
    • National income
    • Disposable income
    • Aggregate demand
    • Aggregate supply
    • Unemployment
    • Inflation
    • Interest rate
    • Business cycle
    • Central bank
    • Investment
  • Guest Post
Friday, September 22, 2023
  • Login
EconGuru
  • Business
    • All
    • Accounting
    • Entrepreneurship
    • Management
    • Marketing
    • MBA
    Guest Experiences at hotel

    Exceeding Expectations: How Offering Unique Guest Experiences Can Drive Hotel Revenue

    Understanding Performance Reporting for Your Company

    Easy Ways to Ramp Up Security for Your Small Business

    3 Things You Should Know Before You Start a Web Design Firm

    5 Ways to Make Money When You Are Disabled

    5 Business Ideas You Can Run From Anywhere In The World

    5 Best Books to Learn Stocks Trading: Study for Successful Investing

    6 Best Real Estate Books to Get You a Solid Education In Real Estate Investing

    Must-Read 5 Best Business Books For Men And Women Who Love Success!

  • Economics
    • All
    • Basic Economic Concepts
    • Economic Data
    • Economic Mathematics
    • Economics Diagrams
    • Economics Education and Careers
    • Environmental Economics
    • International Economics
    • Macroeconomics
    • Microeconomics

    How to Study for an Economics Exam

    Top 100 Dataset Websites & Sources for 2021

    “Capital in the Twenty-First Century” – a comprehensive master piece on world Economy and the reign of inequality

    Freakonomics: a book for unconventional thinkers and practical millenial economist

    Is the Study of Economics Truly a Science?

    What is Your Contribution to National Income?

    The Money Supply: Why We Shouldn’t Just Print Money

    Russia Learning That Keynesian Economics Don’t Work

    Labor Force Participation Rate More Important Than Unemployment

    Trending Tags

    • Finance
      • All
      • Basic Financial Concepts
      • Corporate Finance
      • Personal Finance
      bitcoin

      5 Factors That Affect Bitcoin Prices and Volatility in the Financial Markets

      corporate event speaker

      How To Attract Industry Experts To Speak At Your Next Corporate Event

      Best 4 Personal Finance Software on Amazon

      The best invoicing softwares for small businesses

      5 Best Invoicing Software for Small Businesses

      Cryptocurrency: In Light of the Increased Volatility, Is It Worth the Risk?

      debt collectors

      4 Things You Should Do if You’re Being Harassed by Debt Collectors

      Choosing a Stock Broker Online

      What Should I Ask a Photo Booth Vendor Before Booking?

      The Total Money Makeover, a Must Read Ultimate Guide to Money Management

      Trending Tags

      • Insurance
      • Investing
      • World
        • Markets & Industries
        • Public Economics & Finance
      No Result
      View All Result
      Write for Us
      EconGuru
      • Business
        • All
        • Accounting
        • Entrepreneurship
        • Management
        • Marketing
        • MBA
        Guest Experiences at hotel

        Exceeding Expectations: How Offering Unique Guest Experiences Can Drive Hotel Revenue

        Understanding Performance Reporting for Your Company

        Easy Ways to Ramp Up Security for Your Small Business

        3 Things You Should Know Before You Start a Web Design Firm

        5 Ways to Make Money When You Are Disabled

        5 Business Ideas You Can Run From Anywhere In The World

        5 Best Books to Learn Stocks Trading: Study for Successful Investing

        6 Best Real Estate Books to Get You a Solid Education In Real Estate Investing

        Must-Read 5 Best Business Books For Men And Women Who Love Success!

      • Economics
        • All
        • Basic Economic Concepts
        • Economic Data
        • Economic Mathematics
        • Economics Diagrams
        • Economics Education and Careers
        • Environmental Economics
        • International Economics
        • Macroeconomics
        • Microeconomics

        How to Study for an Economics Exam

        Top 100 Dataset Websites & Sources for 2021

        “Capital in the Twenty-First Century” – a comprehensive master piece on world Economy and the reign of inequality

        Freakonomics: a book for unconventional thinkers and practical millenial economist

        Is the Study of Economics Truly a Science?

        What is Your Contribution to National Income?

        The Money Supply: Why We Shouldn’t Just Print Money

        Russia Learning That Keynesian Economics Don’t Work

        Labor Force Participation Rate More Important Than Unemployment

        Trending Tags

        • Finance
          • All
          • Basic Financial Concepts
          • Corporate Finance
          • Personal Finance
          bitcoin

          5 Factors That Affect Bitcoin Prices and Volatility in the Financial Markets

          corporate event speaker

          How To Attract Industry Experts To Speak At Your Next Corporate Event

          Best 4 Personal Finance Software on Amazon

          The best invoicing softwares for small businesses

          5 Best Invoicing Software for Small Businesses

          Cryptocurrency: In Light of the Increased Volatility, Is It Worth the Risk?

          debt collectors

          4 Things You Should Do if You’re Being Harassed by Debt Collectors

          Choosing a Stock Broker Online

          What Should I Ask a Photo Booth Vendor Before Booking?

          The Total Money Makeover, a Must Read Ultimate Guide to Money Management

          Trending Tags

          • Insurance
          • Investing
          • World
            • Markets & Industries
            • Public Economics & Finance
          No Result
          View All Result
          EconGuru
          No Result
          View All Result

          Home Index Business & Small Business Marketing What is Amway?

          What is Amway?

          Anthony Carter by Anthony Carter
          July 8, 2011
          in Marketing, Markets & Industries
          0 0
          A A
          0
          Share on FacebookShare on TwitterShare on LinkedinShare on RedditShare on WhatsappShare by Email

          Pyramid selling has developed a bit of a bad reputation over the years. Many experts view this type of business model as a type of scam. It needs to be said that some pyramid selling enterprises are better than others. By far the most well known and successful seller that uses this technique is Amway. This company was set up back in 1959 and is hugely successful. It currently employs about 13,000 people and makes about $9.2 billion each year in revenue.

          So What is Amway?

          You might also like

          7 Incredible Strategies of Using NFTs in Business and Marketing

          7 Incredible Strategies of Using NFTs in Business and Marketing

          August 26, 2022
          How cryptocurrency is revolutionizing the eCommerce sector

          6 Ways Cryptocurrency is Disrupting eCommerce and What You Can Do?

          August 25, 2022

          It is a type of multi-level marketing business that works like a pyramid. The company tries to distance itself from the pyramid selling label, but essentially this is a fair description of it. If somebody wishes to join they need to be sponsored by an existing member. They are then expected to pay a joining fee and a yearly fee to remain a member. They can then make commission on selling products but the big money is made by those on top of the pyramid. This is similar to how pyramid schemes work.

          In the Amway pyramid the different levels are referred to as pin levels. The fact that it is a pyramid means that the higher an individual’s pin level the more people they will have working under them. These pin levels are given names based on precious materials such as diamond and platinum. Those who make it to diamond level can make a very good yearly salary while platinum level should provide enough earnings for people to live on. Of course the lower the level the less money members will be able to make.

          Amway focuses mainly on health, beauty, and home care products. Those actually doing the selling are called Independent Business Owners (IBO). All the products sold by Amway have a point value and this amount determines how much commission the IBO can make. This point value actually works like an international currency because it is the same in all Amway operations no matter where they are situated in the world. Business volume is the amount of product sold in a given country. This number is used when determining the price of an item in a local currency — it also is used to help determine how much the IBO will make from a sale.

          Criticisms of Amway

          Like other types of pyramid selling there has been some criticism fired at Amway. It doesn’t have as poor a reputation as some pyramid schemes. There are definitely people who become members and go on to earn a lot of money.  One of the main criticisms is that Amway makes a lot of money from members rather than from actually selling products. They do this by selling books, audio, and video products to members with the promise that these will help them become a better seller. The company has also had allegations of tax and custom fraud. Despite these criticisms the company continues to make a lot of money and this shows no signs of changing soon.

          Tags: AmwayAmway pyramidIBOIndependent Business Ownersmarketing businessmulti-level marketing businesspyramid schemespyramid sellingpyramid selling enterprises
          Previous Post

          What is a Slush Fund?

          Next Post

          What is Unearned Income?

          Anthony Carter

          Anthony Carter

          Anthony Carter currently resides in Fife, Scotland with his wife Lisa, and their three wonderful children. As a senior editor for various publications, if he's not reading and writing, you would find him photographing and traveling to some of the most far-flung locations around the world.

          Related Stories

          7 Incredible Strategies of Using NFTs in Business and Marketing

          7 Incredible Strategies of Using NFTs in Business and Marketing

          by Stephanie Maina
          August 26, 2022
          2

          There is nothing that can leave you confused and wondering, "Uh, what's all this?" like a flood of blockchain news....

          How cryptocurrency is revolutionizing the eCommerce sector

          6 Ways Cryptocurrency is Disrupting eCommerce and What You Can Do?

          by Stephanie Maina
          August 25, 2022
          2

          The phrase "cryptocurrency" has firmly established itself in the popular mind during the past few years. The technological components of...

          4 tips on how to create an attention grabbing elevator pitch in less than 3 minutes

          4 Tips to Create the Most Captivating Elevator Pitch in 3 Minutes

          by Stephanie Maina
          August 27, 2022
          0

          What is an elevator pitch? Can it help your career? An elevator pitch is a brief compelling speech that you...

          How to optimize your CRM for best performance

          How to Optimize Your CRM Software for Best Performance

          by Stephanie Maina
          August 27, 2022
          0

          Customers are the most vital part of any business. When you have no customers, then you have no business. Therefore,...

          Next Post

          What is Unearned Income?

          What is EconGuru?

          EconGuru

          EconGuru was founded in 2006 by a group of Economics students who are passionate about learning and sharing everything in Economics, Finance, and Business.

          The mission is to improve economic and financial literacy of the general public so people can better understand and react to economic problems and make good financial decisions.

          We have no social profiles on any network, and if you like us, bookmark EconGuru.com or share us with your friends.

          Textbooks

          • Intro to Economics
          • Firms & Industrial Structure
          • Fundamentals of Ecology
          • Economics
          • Macroeconomics
          • Microeconomics
          • Useful Links

          © 2006 - 2022 EconGuru - Your premium guide for Economics, Finance, and Business. Privacy

          No Result
          View All Result
          Write for Us
          • Banking
          • Books & Textbooks
          • Business
            • Accounting
            • Entrepreneurship
            • Management
            • Marketing
            • MBA
          • EconGuru
          • Economics
            • Concepts
            • Microeconomics
            • Macroeconomics
            • Economic Data
            • Economic Mathematics
            • Economics Diagrams
            • Education and Careers
            • Environmental Economics
            • International Economics
          • Finance
            • Concepts
            • Corporate Finance
            • Personal Finance
          • History of Economics
            • Economists
          • Insurance
          • Investing
          • Markets & Industries
          • Public Economics & Finance
          • World Economy
          • Login

          © 2006 - 2022 EconGuru - Your premium guide for Economics, Finance, and Business. Privacy

          Welcome Back!

          Login to your account below

          Forgotten Password?

          Retrieve your password

          Please enter your username or email address to reset your password.

          Log In
          Are you sure want to unlock this post?
          Unlock left : 0
          Are you sure want to cancel subscription?