Imagine that you are leading the technology group for a new, fast-growth e-comme
ID: 3870426 • Letter: I
Question
Imagine that you are leading the technology group for a new, fast-growth e-commerce start-up. You are in charge of development of the company’s e-commerce presence.
Select an industry for your e-commerce start-up in, what industry did you select?
What is your vision and how do you hope to accomplish it?
What is your business and revenue model?
Who and where is the target audience?
What are the characteristics of the market place?
Where is the content coming from?
Conduct a SWOT analysis.
Develop a timeline.
Develop an estimated budged. (This can be very rough)
Explanation / Answer
Select an industry for your e-commerce start-up in, what industry did you select?
The e-commerce Industry preferred was healthy foods online(Packed). So it was obviously food industry.
Vision and accomplishment:
The big challenge in the field of food industry was delivering the product in short duration, since different edible item has its own expire date. Initial stage our primary target is to deliver the products among popular cities.
Our primary vision in the business is to supply our customer a healthy product, and win their hearts. The ultimate goal of team is to make this brand reach all over the country and later on overseas.
To connect this chain across the city we are planning to hire few interns in different area. The key industry that we are highly rely on was courier companies, which will give guranteed delivery of product on promised date. Once the company got wide reach, our vision will include a plan to enhance our own shipping unit.
what is your business and revenue model?
Our business model falls under (B2C) model, Business to customer. We directly sell the product to the customer, and get paid, no intermediate avaliable in this business.
Transaction revenue model we are following in this business, we are selling the physical goods to customer and they pay for the goods. We got revenue by selling the goods directly to the customers.
Who and where is the target audience?
Out target audience are very specific, namely people who need to maintain their health, through daily foods. Intially we focus mainly on the people living in cities, the reason for the selection is, people in city are comparitively busier than people from other regions. It is difficult for them to manage time to focus on healthy food, we are goind to brige the gap.
What are the characteristics of the market place?
Speed : Need to deliver the product as soon as possible, since the goods has expiry policies.
Size : Bigger the size of business area, bigger the revenue
Unique : Health foods in packets, without processing it and delivering as it was natural.
Low initial inverstment : With minimal model of business with basic inverstments, we can study the business soon
Where is the content coming from?
Regarding the content, the raw materials are gathered from nearby urban areas around the city and the recipe info are already gathered and study well. The suppliers itself will make the recipe in correct propotion and will packetize it. We have provided the basic needs to those supplilers. So we will get the content directly from the suppliers.
SWOT for the Business:
Strength;
1. Increase in number of people who are interested in healthy foods
2. No major monopoly in this industry currently.
Weakness:
1. Unable to analysis food habits of people, as in city different people having various food style.
2. Need more time to obtain customer base, as it was new people will intially hesitate to try.
Opportunities:
1. Filling the gap in between busy people and healthy recipe
2. Fast shipping units are available, it is even possible to deliver on the same day.
Threats:
1. Problem holding stocks of the product, since it was food product got produce a lot with calculation.
2. Need to reach the customers ASAP, as it was a edible product.
Timeline for the business:
1. Evaluating the feasiblity of business area, 10-12 months prior to start
1. License & Registration
2. Properties, rent , setup cost.
2. Ground research about the business, 8-10 months prior to start the business.
1. Location to start the business
2. Previous people in the same business location
3. Having good study on customers interest on particular product, and their buying capacity.
3. Blue print of business, 5-6 months prior to start the business.
1. Business plan
2. Marketing plan
3. Revenue models
4. Final preparation to launch the business, 2-3 months prior to start
1. Hiring and training interns
2. Providing the complete setup to the suppliers
3. Contact initiation with local shipping parties