E-Business Plan and Strategy

E-Business Plan and Strategy Free Essay

Executive Summary

Electrija.com will be an interactive online site that will provide an online marketplace for all the technological gaps that exist in the fields of electrical equipment and any other thing involved. The company will also assist in the sale of heavy machinery for companies by acting as a third party vendor for the purchased products. Electrija plans to target one million users who access a device and have an interaction with it for averagely an hour each day. Electrija will be an online platform whereby citizens of the United Arab Emirates will not be required to use the old shopping habits but appreciate the role of information technology in the fields of business and a constant revolutionizing world. Due to the interactive nature of the website, the site will be able to receive visits not only from the United Emirates but also neighboring countries.

According to Chaffey (2011), the Electrija.com will revolutionize the online shopping brand in the UAE as through online shopping one will be able to choose from various brands while, at the same time, being in a position to compare the prices and specifications in real time. The primary goal of Electrija is to promote the availability and better prices when buying electrical gadgets. Electrija will have the economies of scale, and hence, the company will be able to obtain electrical devices from manufacturers and wholesalers, and later resell them to the retail buyers. The revenue of the online store will be as a result of advertisements placed on the site, commission paid by companies to showcase their items on the Electrija interactive site.

 

Business Description

This section explains the characteristics of the business environment within which the e-business will take place.

Industry Analysis

The Electrija Company will operate in the retail industry and will also offer online-based services of electrical gadget sales. With the increased growth of technology, there will be increased demand for online shopping as people will prefer to shop online rather than visit actual outlets.

The nature of the business will be greatly affected by the industry analysis. The study has to be conducted to identify the degree of competition among the firms existing in the area, the threat of substitutes, entry barriers, and the bargaining power of both buyers and suppliers (Dobbs, 2014).

Mission Statement

The mission of the business is to connect both the consumers and the entrepreneurs of the UAE to a common platform to breed more business transactions while promoting an entrepreneurial culture within the country.

Company Goal

The goal of the Electrija is to be the best online shopping store in the United Arab Emirates having been the one and the first online shop for both electronic and technological products.

E-Business Model

The business model for the e-business will be Business to Consumer (B2C). In this type of model, the e-business will be able to sell directly to the final consumer through the interactive online website (Zhu, 2015). The Business to Customer is effective as it will eliminate the third parties that can be involved in the transactions between the customer and the business.

Products and Services 

The company will involve the sale of electrical and technological gadget and using shopping carts, and a purchase of the goods will include emptying the shopping cart. The main products will be electrical devices, and therefore, after customers’ visiting the site and choosing the desirable product to buy, it has to be added to the shopping cart before it is cleared for payment.

The Market Analysis

Market analysis is the process of quantitative and qualitative assessing a market to understand the various segments of the customers (Cherif & Grant, 2014), barriers to the economy, the environment of the economy, and the patterns of buying for various customers. The main customer will be people above 18 years, especially in the sphere of the technological gadgets such mobile phones, while electrical gadgets will be bought mostly by people who need electrical appliances in their homes.

Target Markets

Targets are the specific users to whom a specific product or service is aimed at. Target markets affect the price, design and orientation of a company’s product (Solomon, 2014). The target markets of Electrija are the most important factor in determining the strategy of the market of the consumers of technological product. Below, there are the determiners of a successful Electrija target market. They include:

 Demographic characteristics

The socioeconomic features of the United Arab Emirates will lead to a larger target market due to high population growth and levels of development. The use of technology is on rise, and therefore, electrical devices will be highly required in the country.

Geographical characteristics

The online booking website eliminates the fact that people need to be present to make a purchase in the Electrija internet site. Geographic location is, therefore, not a barrier to the user of the online purchase platform for  buying electrical products. The location factors involve country, state, and lifestyle habits.

Psychographic characteristics

Psychographic traits such as attitudes and beliefs are eliminated in the website as one is not in a position to meet and interact face to face with the customer. Elimination of such factors leads to the limited probability of psychographic factors affecting the target markets of any particular product in the market.

Consumer characteristics

Electrija’s good customer service and proper handling of customer requests will lead to increased factors such as customer’s loyalty or even willingness to purchase from the online shop. The website, therefore, will be able to increase the target market through qualitative care and treatment of the customer by the service providers.

Marketing Plan

This is a blueprint document that contains all commercialization and efforts of advertising in a business while aiming at accomplishing some tasks in a given timeframe. Advertisements and packaging a shipment will be the main tools of promotion. Advertisements will be done through print media while using premium online commercials. The advertisement, especially on print media, will be used to create awareness in the United Arab Emirates on how one can reduce the shopping process from strenuous exercises to simply one click of a button through the site. The marketing plan will also involve a feedback mechanism with the purpose of receiving opinion indicating how customers knew about the company while encouraging them to buy more often from the online shop.

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Competitor Analysis

This is the process of identification of a potential competitor and learning strength and weaknesses of their products and services. Conducting a competitor analysis is one of the key factors that are critical in the market plan of any successful business. Competitor Analysis involves:

Competitor Identification

For a successful business to take place, Electrija must be in a position to identify the potential rivalry in the competitive environment and their distinctive features. The most probable competitor in the United Arab Emirates is the Wadi.com that is the e-business that deals with mobile phones rather than general electrical and technological gadgets as a whole category.

Website Critiques

Wadi.com as a major competitor has various pros and cons that Electrija.com can use to penetrate the market with in the United Arab Emirates. The website does not involve responsiveness on mobile devices, and therefore, it is not suitable for purchasing mobile phones. Wadi.com does not offer online chats with customers. Communication between a potential customer and a seller is a key as it assists in creation of confidence and assurance before the sale takes place. Wadi.com website takes too much time to load, and the URL structure is not properly formatted. Wadi.com has a good search bar and grouping of goods of different nature. The website is also simple and easy to navigate as all items are displayed on the homepage of the website.

Result of the Website analysis

From analysis of Wadi.com website, it becomes obvious that the site speed is very slow and, therefore, it takes much time for customers to make an online purchase. The url’s are not properly arranged and, thus, one can easily find themselves in an online shop belonging to another country and not necessarily the UAE. Mobile friendliness of the site is also a major failure in the Wadi.com online shop.

Defining the Competitive Position

Electrija.com will revolutionize the way that business is done, especially in the processes of the sale of electrical components. Below, there are the expected competitive advantages of Electrija.com that will come as a result of the e-business implementation.

Relationships: the Electrija have a close link with producers and manufacturers and that, therefore, means that the electrical components will be cheaper at Electrija than at any other online store in the UAE.

First technology mover: despite its young age, the company will ensure maximum utility of technology to make sure that customized services will be for the best interest of the customer.

Managerial issues and flexibility: The proposed e-business will ensure that the managerial team is the best team around, and that the team is technologically ready for allocated tasks for delivery.

Maximize efficiency: with the use of technology, Electrija.com will be in a position to save costs while maximizing the effectiveness of the online system. The technology established in place will assist in the process of cost saving, management resources, and marketing.

Product Customization: using our online site, Electrija will be able to customize the electrical appliances to meet the expected color and design while not going to a page further. Customized appearance will appeal more to the user and, therefore, improve the competitiveness of the website.

Resources

These are human and infrastructure requirements for the organization to operate efficiently. Resources will be a key part in driving the economy of Electrija as the company needs to have enough resources to be able to produce the required goods and services.

People

These are the people who will be a part of the workforces (Lohrmann and Reichert, 2013) at Electrija.com. The company will consist of two directors who will establish vision, values as well as missions of the company. Moreover, they will set the structure and the strategy of the company as well as delegate duties to the management. The e-business will also require people with different professional backgrounds. The company will need diverse professionals such as accountants, technology professionals, marketers, and promoters. These are the key people that will be required to ensure the success of the organization. Marketers and promoters will be the important people to assist in the process of dealing with the potential customers and promoting the company’s goods. The technology technicians will help maintain the website and handle all the technical hitches of the site. Technology professionals are the key people as they help in the course of sustaining usability of the site and its simplicity in the process of purchasing.

All the required professionals will be needed to work approximately ten hours in a single day as they are all an essential factor in the success of the business. There will be two shifts as the customers of Electrija.com will be allowed to shop all day and all night, and thus, the support must also be provided for the customers buying from the e-business.

New employees that will be required for the Electrija will include data analysts and data specialists that will assist the company to predict its customer base and requirements. The data analysts will enable the company to know the customer needs and strategize on what is frequently bought.

Technical Infrastructure

The e-business will require computers and the Internet that will be used to manage all the activities of the business. Computers will assist both the technical team and the system managers in tracking the state of the e-business and detecting errors in due course for rectification (Mupepi, 2014). Several software types will be required such as Windows, Mac OS and Linux that will be used for creating and editing webpages. The requirements will be the development software of the e-commerce platform. This software will also be required for the maintenance and the debugging the e-business website.


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