Introduction to the Business Idea
ABC Corporation delivers enticing options of goods at bargain prices. The business will provide the public with an outstanding and imaginative store that will satisfy the needs of people on fixed incomes, such as low-income family units, the aged, and the region’s massive student.
Mission
The goal of ABC Company is to deliver via mail customised consumer contact goods. Items sold by the company are either not available at the market level or, if purchased from standard retailers, are very pricey. The ABC Corporation has a variety of impressive alternatives to bargain rates for goods. The ABC Corporation, dedicated to customer care, would provide its customers with the kind of service that is both courteous and punctual. The company’s workers would also be treated with a fulfilling working climate with a proficient behaviour along with equal pay. The ABC Corporation needs every consumer to feel as if, at a bargain price, he or she has gotten a first-class operation.
Objectives
- Providing a wide range of items at
- competitive rates
- Achieving a healthy gross margin for the first year
- The achievement of a small net profit by the end of the second year
- To be a dynamic and vocal member of society and to give continuous re-investment through commitment to cultural events and monetary participation.
Keys to Success
The ABC Corporation has to: in order to do more and draw more clients in this business:
- Sell an extensive collection of products
- Providing goods and services in a way that gives consumers 100% satisfaction
- Be a dynamic member of the business
- Promote customer feedback
The E-Business Model
Affiliate promotion is the sales model used by the firm. The promotion of associates has become a very successful business model (Lindahl & Rozek, p. 76, 2010) and there are several explanations for this. One does not have to have the personal product; to get started, there are little funds needed, and the seller takes care of all the problems. Another good component of affiliate marketing is that you can choose a lot of goods and services from the market. There are goods and services he can market for any desire, love, or sector in which someone has expertise, which makes it more enticing (Lindahl & Rozek, p. 109, 2010). The first step companies should take is to pick an acceptable niche. It would be very easy to write blogs, web sites, blog posts, as well as other material necessary to promote the product by selecting a niche.
Therefore, it provides a perfect internet business model in general. The challenge is that it takes a huge amount of time and dedication to make a start, like any other online company. However, it is worthwhile if the attempt is up and running. Nonetheless, there is no such likelihood of ‘making rich quickly’ as in any company. In order to continue receiving incentives, you need to invest in time as well as commitment (Lindahl & Rozek, p. 76, 2010).
Operational Issues
Decisions on loss assessment and risk funding are two essential challenges facing risk management. Sophisticated risk models may help the quantification of risk or financial effects if the right efforts, as well as metrics, are provided. In addition to the implementation of a network stability strategy, failure as well as denial of service would allow for a market effect review to accurately assess the risk for financial loss and minimise the severity of such a failure. If public records related to cybercrime and cyber attacks are largely subjective or based on unknown surveys, other threats will require substantial assessment.
In addition, estimations of possible losses associated to Internet-based technologies must take into consideration the developing and indecisive universal legal and regulatory setting. Risk evaluations based only on direct revenues from e-commerce actions will not give an appropriate amount of the impact of loss, damage, variation or disclosure of sensitive or strategic information regarding the venture or its clientele (Lindahl & Rozek, p. 20, 2010).
PPC and E-Marketing
PPC advertising (Lindahl & Rozek, p. 20, 2010) has been among the most successful online marketing instruments utilized for web-based businesses. It is essentially a way of promoting businesses where the business vendor need to give the host web site or search engines for every click made on their particular advertising.
Two concepts are applied most often for computation of PPC advertisement expenditure – flat rate and bid-based.
-
Flat-Rate Pay Per Click
As the name implies, this method involves certain flat price at which host as well as advertiser give consent for the payment of a particular PPC promotional campaign. CPC (cost per click) is usually traced with the assistance of rate cards, which trace clicks in various parts of host website (Lindahl & Rozek, p. 52, 2010).
-
Bid Pay Per Click
This method is believed to be more reasonably priced PPC technique where the company have the chance to bid on the keywords relating to a particular prospective clientele. Grabbing advertisement space is not that simple though, for the reason that company is in competition with a host of other bidders, although still there are likelihood of winning reasonable PPC promotional rates making it feasible for online businesses (Edwards, p. 101, 2010).
Online Productivity Tools
-
For Project Management
Online project management is an immense way to stay prepared and an even better approach to present a prevailing collaboration instrument to the customers, retailers and teams. ‘Basecamp’ is the tool that company will use for project management. It provides everything business needs to store messages, correspondence, share files and gather input from customers. It is like having a customer portal instantaneously formed with each new customer.
-
CRM Tool
CRM stands for customer relationship management; however, for the small business the software and services in this group are actually about tracking sales prospects and search for methods to transfer additional sales and do additional business with current customers. For this, the company will use ‘ACT 2006’. This program, once set-up and understood, will let the company to computerize a lot of the marketing contact activity and ensure that each prospect gets intended attention. There is a group of ACT professionals out there that can assist the company to modify the program according to its requirements (Silver, p. 20, 2007).
-
For File Sending
Sending large files can be complicated or even not possible via email channels. The company will use the service known as ‘DropSend’ to upload big files. The service then informs the receiver that they have a file to download.
E-Commerce Requirements
-
Complete Account of Products
The significance of completely describing the product that company is selling cannot be overstated. Different clients are expecting different attributes in a product and are assessing the quality of a service based on standards that business might not even think about. ABC Company will provide as much information as feasible, even if it seems superfluous or pointless (Lindahl & Rozek, p. 96, 2010).
-
Telephone Number and Email Address
ABC Company will always make its customer service’s phone number accessible to its clientele. Email communication may very well be adequate for a lot of clients but not having a phone number to call is a top reason for customer disappointment and chargebacks. Clients usually require instant attention and, if not given, are expected to file a dispute.
-
Product Delivery Strategy
This strategy of ABC Company is clearly stated on its web site. It includes the delivery time frame and any constraints that company might have on delivering the products.
Use of Social Media
Since the mainstream of people uses social media these days, the anticipation is that the customer can go online and find all the queries answered and problems addressed. This part of social media is an extremely testing and the company has to be very cautious to balance the online and offline presence. Due to the visibility online, there is an inclination to give online customer service precedence over offline. This generates the threat of creating the image of just being cooperative if the activities are exposed. One approach to avoid this is to post a phone number online on which clients can call, instead of assisting customers online. How long these policies will carry on to work is not certain. However, for the moment, it is almost certainly the company’s best bet.
Measuring Success
Generating traffic that increases page views is the most accepted online business success measures. While site traffic remains a significant measure to be dealing with, traffic on its own does not give a clear picture of benefits the company offers. What the business measure is evident by the business’s objectives. The majority of online businesses, including ABC Company, have quite a lot of jobs, such as distributing product information, dealing with technical support, and selling products and services. The ABC Company will establish its main objectives and then form metrics that allow it to measure the performance.
Summary
ABC Company anticipates sales to rise gradually as customers discover that they can buy a range of quality items on bargain prices. The company plans to tap into the retail market with rates that will promote quantity purchasing, and the pricing will draw customers on fixed budgets. The target market is the lower-income segment of the community. This incorporates working-class people, the old citizens, and students, a lot of of whom are price conscious and searching to discover a value for their dollar. ABC Company focuses on the price-conscious customer who is searching for value as well as quality. If the company can draw as well as retain these customers the word will go on to spread regarding what this store has to offer (Walsh, p. 66, 2009). Consumers want quality customer service, reasonable pricing, along with a convenient locality. Competition is extremely tough with customer service and location key factors. The collection of commodities a shop offers is very essential as well (Lindahl & Rozek, p. 121, 2010).
In conclusion, the paper has discussed som It is an expectation that the paper will be beneficial for students, teachers, and professionals in better understanding of the topic.e of the important aspects of online start-up plan. It is an expectation that the paper will be beneficial for students, teachers, and professionals in better understanding of the topic.
References;
- Edwards, E. 2010. Startup: The Complete Handbook for Launching a Company for Less. Essential Books.
- Lindahl, D. and Rozek, J. 2010. The Six-Figure Second Income: How to Start and Grow a Successful Online Business without Quitting Your Day Job. Wiley.
- Silver, D. 2007. Smart Start-Ups: How Entrepreneurs and Corporations Can Profit by Starting Online Communities. Wiley.
- Walsh, R. 2009. The Web Startup Success Guide. Apress.