Marketing Project on Online Bookstore Business Plan on:
Books On Clicks
TABLE OF CONTENTS
- Acknowledgement. 5
- Executive Summary: 6
- INTRODUCTION: 7
- Objectives: 7
- Company Locations. 7
- Mission. 8
- Vision: 8
- Management team: 9
- Management Summary. 9
- Market & target market 10
- Marketing mix: 10
- Product: 11
- Future products: 11
- Price: 11
- Place: 12
- Promotion: 12
- Value added services: 12
- Market segmentation: 13
- Marketing strategies. 13
- SWOT Analysis: 16
- Strength: 16
- Weakness: 16
- Opportunities: 16
- Threats: 17
- Financial analysis: 17
- Important Assumptions. 18
- Start-up Funding: 18
- Computer and Communications Tools. 18
- Resource Requirements: 19
- Competitive Strategy. 20
- Bibliography. 21
We think if any of us honestly reflects on who we are, how we got here, what we think we might do well, and so forth, we discover a debt to others that spans written history. The work of some unknown person makes our lives easier every day. We believe it’s appropriate to acknowledge all of these unknown persons; but it is also necessary to acknowledge those people we know have directly shaped our lives and our work.
First of all we would like to thank ALLAH ALMIGHTY for HIS countless blessings on us and also our teacher for his guidance throughout the semester.
Books on Click store will be a bookstore which will carry a large variety of books. This variety will allow us to reach the largest number of customers possible. We will also carry coffee. Our goal by doing this is to make every customer comfortable and encourage them to stay awhile. We will also offer incentives to our customers to inspire loyalty. These will include coupons to regular customers and punch cards that will reward the customer with 25% off a book after the purchase of 10 books. Book on click store will be located at the Bhobhtian stop on the main Raiwand road, Lahore. Bhobhtian is a good location for a bookshop as it will cover the area of raiwand road in between thokar and main raiwand city. Our target market is a customer base that is mainly universities, schools, and colleges. . We survey the market in Lahore and get the opinion of different people, they want the books at their door step due to the many reasons. As we see the competitors, there are no such competitors who r providing the books online .we are trying to deliver the book at the urdu bazaar rates. Books On Click will strive to achieve the objectives. They are, become the leading Internet student-to-student marketplace, attract 100000 registered users in the first year, achieve 10,000 visits per month and establish sustainable profitability within the first year. Overall, we conclude that our current products, services and banner ad strategy will ensure a strong market presence and continued revenue growth.
BY LOOKING THE OPPORTUNITY in the e-business sector we decide to invest in the selling of books through internet and telephone. We survey the market in Lahore and get the opinion of different people; they want the books at their door step due to the many reasons. As we see the competitors, there are no such competitors who r providing the books online .we is trying to deliver the book at the Urdu bazaar rates.
For this we select the location in Bhobattian pind where we target the different universities and schools and colleges. For targeting this we select the different strategies and procedure which is given below:
Books On Click will strive to achieve the following objectives:
- Become the leading Internet student-to-student marketplace
- Attract 100000 registered users in the first year
- Achieve 10,000 visits per month
- Establish sustainable profitability within the first year.
11 kilometer on Raiwind road from Thokar Niaz Baig In Bhobattian Pind
To continue to offer quality products and services using the best technology available and at a reasonable price. This results in highly loyal customers, while maintaining interest and company profits in mind. We also want to expand geographically, increasing the number of customers and to keep improving our main competitive advantage – infrastructure. By working hard and having fun we seek to offer the best working environment to promoting career opportunities
“To become the leading brand in the world of E-business. And providing the books on your finger click like pizza’s.”
- Director of the company
- Financial advisor
- Marketing and web developing manager
The strength of BOOKS IN CLICK’s management team stems from the combined expertise in both management and technical areas. The BOOKS IN CLICK recognizes that additional staff is required to properly support marketing, sales, research, and support functions. Currently, The BOOKS IN CLICK is supported by three people with experience in e-commerce strategy, website architecture and design and graphic design. Additional employees may be required in the areas of senior level management, Web development, marketing, sales, human resources/recruiting, administration, customer support and other critical operational positions.
The BOOKS IN CLICK will utilize current college students to fill positions in the areas of regional campus marketing, local advertisement sales, administration, customer support other non-critical operational positions. These positions will be full-time, part-time and intern positions depending on the local market. Using current college students will enable The College Cafe to receive inexpensive local employment and valuable market feedback from The BOOKS IN CLICK target market while also providing real world work experience to college students.
Market & target market
The University colleges and schools student market is a growing yet under served niche market. The Department of Education expects the student market to grow.
We will target the area between the THOKAR NIAZ BAIG to RAIWIND CITY. In this area there are three main target
- Lahore university
- Comsats university
- Superior university
- Lycestuff school system
- Govt. technology college raiwind road
- Govt. degree college for girls raiwind road
Our marketing mix contains at 4p’s that are product, price, place and promotion .we will explain these below:
We are providing the following products:
- Computer Science
- Political Science
- Others(magazines ,newspapers, articles etc)
Overall, we conclude that our current products, services and banner ad strategy will ensure a strong market presence and continued revenue growth. However as part of our growth model, we will regularly examine new services, products, categories and content to support demand.
We will provide the books on the price of Urdu bazaar rates. And we will provide the discount that person who having the membership card.
11 kilometer on Raiwind road from Thokar Niaz Baig In Bhobattian Pind
We are introducing our company by advertising in newspapers, cable TV and distribution of brochure in universities schools and colleges.
Value added services:
We are providing the membership cards and on this card we are giving the discount to the card holder members.
Our largest amount of advertising will be done by word of mouth. We will carry business cards, traditional and bookmark style, at all times to hand out to potential customers. We will have these items and brochures at our front counter for customers to take and show their friends. We will also conduct the book fairs in universities for create the images of our business in students mind. Our next marketing strategy is to direct contacts with schools and colleges. We will encourage these school and colleges to purchase books from us with discount at door steps. We will have a website as well as Facebook and Twitter accounts; this will make us more visible in today’s world of technology. We will advertise on radio station and through the yellow Books at the college bookstore. We plan to keep abreast with our customers by always being on the lookout for feedback. On our website we will provide a space for customers to list their comments and rate their latest visit to our store. For customers that are less comfortable with technology we will also offer a comment box within our store. This will give customers an opportunity to share their thoughts with us. These two forms of feedback will allow us to gather critical information from our customers. From what they think we can do better, to what they think we are already doing well. On our webpage we will also allow customers to make wish lists. This will inform us of what books are in demand and which special offers should be sent to which customers.
Word of Mouth
We will rely heavily upon word of mouth advertising. We will proved our customers the best experience we can so that they will be pleased enough to tell all of their friends and family about our store. By offering superior customer service and handing out business card we are providing our customers with the means to pass on our information to others. There is no cost for this form of adverting except for the business card and brochures that customers take to pass on to their friends and family.
Business Card and Brochure
We will always carry business cards, both traditional and bookmark styles. When given the opportunity we will tell potential customers about our business. We will pitch our “elevator speech.” At this time we will offer this potential customer a business card bookmark, if they would prefer a tradition business card we will supply this instead. We will also carry brochures so that people who are interested can learn more about what we have to offer. Our front counter in the store will always have a supply of business card and brochures; these will be free for customers to take and will encourage them to advertise through word of mouth for us. We will also provide our own friends and family with business cards and brochures to pass out to their own friends and family and at their own social functions (such as a sports get together or birthday parties). After purchasing 10 books they will get a choice between a free coffee or 25% off their next book purchase.
Facebook and Twitter
Facebook now has 500 million users worldwide and is even more popular than Google as a search engine. It is clear to see that social networking is one of the best ways to promote a business as well as maintain a good relationship with clients. Therefore, we want to create Facebook and Twitter accounts which will give us the advantage of advertising our business without any costs. This will also allow us to understand our customers better by being able to see what they are interested in. We will also potentially be able to gain additional customers through our current customers.
We plan to grow our store slowly as not to over expand. As our customer base grows and our store becomes profitable we plan to expand the products that we offer. When the store has a large enough customer base that we regularly require more than one person to manage the store we will begin hiring employees. In five years we will evaluate the profitably of the store along with other factors and decided whether or not we should obtain another bank loan to significantly expand our store. This bank loan would allow us to move to a larger location and expand the number of books that we have in stock at any one time. At this time we will also evaluate whether or not it would be an asset to our store to add a selection of new and electronic reader books to our product line. The new books we would carry would be mostly books from the Best Seller’s list. For the electronic reader books we will have to approach either Amazon or Barnes & Noble so that we can carry books that are compatible with either the Kindle or the Nook. At this time, if we decide that it would be beneficial to carry these other productions we will still focus mainly on books.
SWOT consistent on the following elements.
- Offer variety of products
- Keeping low price
- Fast delivery
- Membership cards
- Lack of experience
- Lack of awareness of e-business
- Lack of motivation
- New shop in this area
- Increasing awareness
- Increasing potentials in market
- New entrance
- Economic instability
- Tough competition with other online business
The following are the summarized points from the’ Books on click’ financial plan. All charts and tables supporting these results are included in the appendix at the end of the business plan:
- The book shop will generate assertive revenues by the end of year one.
- The book shop will start reporting sustained profits during the 9th month of the 1st year.
- The book on click will require an initial investment in capital finance the marketing campaign and launch strategy.
- The book shop will require additional investment to fund additional Web development, sales and marketing efforts and general operating expenses.
The ‘Book on Click’ will provide a complete student-to-student marketplace. Investment contacts have already been approached and their expressions of satisfaction and encouragement are numerous. We intend to continue our advances with more unique and effective business solutions for the the college & universities market. Based on the attached financial projections, we believe that this venture represents a sound business investment.
The financial projections are based on the following assumptions and facts for the industry as outlined in our market analysis:
- The founders have contributed significant capital.
- The fee for posting textbooks will equal Rs.50 per textbook.
- The fee for posting classifieds will equal Rs.75 per classified.
- The sales margin for products sold will average 15% and vary based on product.
In order to implement the’ books on click’ marketing campaign and launch strategy, we are seeking an initial seed investment of Rs.300,000. An additional investment of Rs.200,000 will be required for operational expenses, continuing marketing campaigns, additional website enhancements, maintenance and support as necessary to establish and maintain ‘The Books on Click’ as the leading online student-to-student market place.
Computer and Communications Tools
I plan to take advantage of all the computer and communications tools presently available to establish myself on the same level playing field as my large competitors. Following are the tentative specifications and budget for this equipment.
- Enter a description of all communications equipment.
- Enter a budget for all communications equipment.
- Enter a description of all telephone equipment.
- Enter a budget for all telephone equipment.
- Enter a description of all fax equipment.
- Enter a budget for all fax equipment.
- Enter a description of all computer equipment.
- Enter a budget for all computer equipment.
- Enter a description of necessary Internet providers.
- Enter a budget for Internet access.
No other bookstore in Bhobhtian offers all of the following: a large variety of books, a comfortable setting, and superior customer service. All of which we plan to provide. We will provide a comfortable setting in our store by offering sitting areas for both groups and individuals. We will make them comfortable to be in our store and regular customers will be rewarded with extra offers. We will do everything within our power to get them the product that they seek. We will do this by encouraging customers to begin a wish list. This list will include books that they are seeking but that we do not currently have in stock. We will keep our eyes out for this title and alert the customer before the book hits the shelf. Customers will have first priority over a book that is on their wish list. Another thing that we will offer that we feel makes us more competitive is a yearly membership. None of the personally owned book stores in Belling ham currently offer a membership. By offering our customers an inexpensive yearly membership we will be more competitive with the large retail bookstores (e.g. Barnes & Noble and Borders) who already offer their customers memberships. Our membership card will cost $10 a year and will allow the customer to receive between 5% and 15% off any product they purchase on our website.
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