EXECUTIVE SUMMARY The most important part of business plan is the executive summary. It includes the main business idea, market potentials, unique selling points, the service we are trying to sell, the profit making process, the company vision and finally the financial forecast. Our project is mainly concerned about the planning of online grocery business and Electronic business. Our strategy is to build an impressive shopping website that not only take the order but also deliver the goods to the doorstep for people who want to avoid the rush of shopping mall, traffic. The marketing of the site will be built around the core value that the site will offer. Although our competition has built a simple store for ordering the product, this site will be reviewed by Web award companies as a great destination for the all needed customer. We will build our revenue and market share around this traffic and value added service. Our business model is based on the sales of the products over the website. Because the site is also intended to increase brand equity, awareness and best available product in cheapest market price, we are building for high traffic. Our model requires giving users an excellent free experience and to develop trust to increase sell-through. We may lose money for at least three to six months while we build the traffic and develop our position for the long-term future. Our first class design, product quality and user friendly design are critical to our positioning as a dot-com company - we should be 1
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
EXECUTIVE SUMMARY
The most important part of business plan is the executive summary. It includes the main business
idea, market potentials, unique selling points, the service we are trying to sell, the profit making
process, the company vision and finally the financial forecast. Our project is mainly concerned
about the planning of online grocery business and Electronic business. Our strategy is to build an
impressive shopping website that not only take the order but also deliver the goods to the
doorstep for people who want to avoid the rush of shopping mall, traffic. The marketing of the
site will be built around the core value that the site will offer. Although our competition has built
a simple store for ordering the product, this site will be reviewed by Web award companies as a
great destination for the all needed customer. We will build our revenue and market share around
this traffic and value added service. Our business model is based on the sales of the products
over the website. Because the site is also intended to increase brand equity, awareness and best
available product in cheapest market price, we are building for high traffic. Our model requires
giving users an excellent free experience and to develop trust to increase sell-through. We may
lose money for at least three to six months while we build the traffic and develop our position for
the long-term future. Our first class design, product quality and user friendly design are critical
to our positioning as a dot-com company - we should be the best reviewed website in our
category, and that will become the key to future sales. However, the core experiences for the
every household have always been better, and with a better design team and a round of financing,
our company is ready to grow with the market. The company will distinguish itself from its
competitor as a full capacity center, rather than just a store front.
MISSION
Our business plan is created through some motives. Here we tried to explain our missions and
objectives.
Product Mission:
We will serve better quality product through a variety of domestic goods.
Economic Mission:
1
Operate and grow at a profitable rate through sound economic decisions. We want to capture the
market share and replace a great portion of conventional super shops items. Our goal is a little bit
economical. We are forwarding to reach our break-even point within one year and if we can
manage to double up our revenue within 3 years we have a plan to extend our business.
VISION
Our visionary view of this business is that we don't want to see any body's panic. We want to
make people having a good likeness in buying. We would like to make their day-to-day life
easier. Moreover, ensuring customer satisfaction is ultimate goal.
LIMITATIONS
Lack of experience about merging
High setup cost
High maintenance cost
Trying to find the best
Existence of Comparison
Likeness varies from person to person
INTRODUCTION
Our business idea is all about web based. We would like to provide services to people with a
view to making their day-to-day life more comfortable and easier. We will provide customers
with grocery items as well as electronic goods. And provision of these goods will be done
2
through web in the form of e-commerce. Our business will be beneficial for people who want to
avoid the rush of shopping malls, traffic, etc. People can order us through web and thus we’ll be
able to know their demands, wants, etc. Then we’ll be able to act accordingly. Customers can
check samples of the products they want in the web. We’ll receive orders and then will take
every step to provide them the goods. Our services will save a lot of time of the customers. The
ultimate goal of our business plan is to ensure customer satisfaction.
DESCRIPTION OF PROJECT
ONLINE SHOPPING
Day by day online shopping concept is developing by region in the world. The idea of online
shopping was found few years ago and statistic show people are doing their shopping more then
50 percent online .EBay and Amazon has been running successful business in the world. But
time is now in Bangladesh .Last two or three years few company has lunched online shopping
facility in Bangladesh .One can browse product in their website and choose then have to give
order and have to choose one’s payment option .After making payment they will send the order
product in one’s address .
Few numbers of reasons behind the necessity of online shopping in Bangladesh are the
following,
a) Improved productivity: Using e-commerce, the time required creating, transferring and
process a business transaction between trading partners is significantly reduced.
b) Best bargain: It is possible as one can visit numerous shops /suppliers
3
c) No national boundary: As one can order products from any place within the national
territory.
d) Easy payment system: Making payment is easy.
e) Streamlined business process: Use of internet and with automation of business process
can make business more efficient
f) Saving time and cost: The cost savings stem from efficient communication, quicker
turnaround and closer access to market.
g) Better Customer service: Customer can enjoy the convenience of shopping at any hour
and anywhere in the world.
h) Variety: The choices one can get for products are amazing. One can get several brands
and products from different sellers at one place.
In Bangladesh this concept is not popular still now but day by day online shopping in
Bangladesh has been growing rapidly. There are some websites which provide online shopping
option in Bangladesh but neither delivers the products ordered nor offer return policy. Rather
they charge high cost and are not up to date with the price and products of the market. They
rarely modify the products and prices of day to day market.
We have planned to establish a business of online shopping and modify it with some more
modern approaches and privileges. Some of them are the following,
1) Cash on delivery
We want our customers to enjoy the opportunity of paying cash on delivery. Cash on delivery
(COD) is a financial transaction where the payment of products and/or services received is done
at the time of actual delivery rather than paid-for in advance. Most small businesses prefer cash
payment over credit card payment.
Trust Factor –The Cash on Delivery concept allows the customers to make the payment
only when the product or the services is delivered to them. This increases the trust factor
between the customers and the businesses resulting in more sales and revenue for the
online store. The entire transaction remains transparent between both the parties under
this model.
4
Easier Transaction Model – In Bangladesh most online stores depended on Credit
Cards and Internet Banking for payments and transitions. Serving customers using these
payment methods was easy in the developed countries, but in developing countries, many
customers didn’t have access to any electronic means of payment. This is the case in
Bangladesh. Cash on Delivery has brought this category of customers into the purview of
Ecommerce. Thus, increasing the market size and dispersion for the online stores largely.
Quality Improvement – The customers pay only when they receive the product and are
satisfied with its quality. They have the right to refuse poor quality products. This has
ensured that online stores need to sell high quality products to the customers resulting in
better quality and customer satisfaction.
Legal Aid – Unless a customer has paid for a product he/she doesn’t have the legal right
over it. This works to the advantage of the online store as this keeps them at bay from
legal responsibility over late delivery of the product or no delivery due to unavoidable
circumstances. In case, our online store fails to deliver a product we can ask customers
for an alternative product of their choice without having to worry about any monetary
compensation or legal hassles.
Return policy
We also plan to provide our customer with 3 day return policy. They can return the product if it
is not satisfactory.
The following items may NOT be returned:
Any item without a return authorization slip.
Used or damaged items
Discontinued products
Products that are not in their original packaging and containing all accessories
Items over 3 days of the receipt date
5
1) Creating a modern website:
a) Picking a domain name- A domain name is one’s “signature” on the Internet. We
have to select it first.
b) Registering a domain name- Then it has to be registered. Domain names are
acquired through authorized domain name registrars. All registrars have access to the
same list of reserve names, but they may have different fee structures.
c) Finding a Web host- We have to develop the website. For business transactions
involving payment by customers, then a hosting package that includes space on a
secured server is usable. Secured servers are servers that contain additional layers of
encryption to protect the identity of the individual and the data that is being transacted
from unauthorized access.
d) Web design- After that we have to arrange web developers to design the website.
There are also web designers who design web sites for a fee.
Examples of host and design websites in Bangladesh are,
www.web.com.bd
www.websitedesignbangladesh.com
e) Financial transactions on the Web- In addition to having access to a secured server,
we will need to design a transactions page that collects the customer’s financial
information, transmits it to a service that can verify the transaction, and stores the
data in our files
f) Linking the site- We have to link the site with other, already recognized sites
increases the chances of being found by both our prospects and by the search engines.
Creating a website needs a Systems Development Life Cycle. Five major steps in the Systems
Development Life Cycle are:
1) Systems analysis/planning2) Systems design3) Building the system4) Testing5) Implementation
Total Income 1,00,65,000 1,17,60,000 1,34,75,000 1,22,29,000 1,26,00,000
GEOGRAPHICAL POSITION OF TARGET MARKET:
30
The target market is Dhaka City Corporation area for the first 5 years. The firm uses simple distribution channel with zone-wise dealers. The Dhaka city has divided into 9 different zones cover 19 areas. The following table shows the 9 zones and areas under each zone:
Name Covring Areas
Zone 1 Mirpur, Pallabi
Zone 2 Cantonment, Kafrul
Zone 3 Mohammadpur, Dhanmondi
Zone 4 Ramna, Tejgaon
Zone 5 Hazaribag, Lalbag, Kamrangirchor
Zone 6 Kotowali, Shutrapur
31
Zone 7 Shyampur, Demra
Zone 8 Motijheel, Sabujbag
Zone 9 Khilgaon, Badda
INTREGRATED MARKETING COMMUNICATION:
The firm uses pull strategy as its promotion mix strategy which is spending a lot on advertising and consumer promotion to build up consumer demand. It makes the promotion mix efficient enough to activate customers to ask for the product. Here is a graphical view of the pull strategy: