MPM705: Web-Retailing Company- Retail Position & Strategy- Report Writing Assignment Help

Internal Code: 4ADC

Report Writing Assignment Help:

Task: Starting and running an web-retailing company Write the Retail STRATEGY for a web-retail company. This trimester, we have two businesses to choose from (choose one for your assignment), or you may propose your own business. Briefs from the two businesses appear later in this document. A. A start-up lipstick company looking to set up a proof-of- concept online shop. B. An existing bottled sea-water retail business that seeks to expand sales by repositioning or strengthening their current position. To be successful, you have to put your entrepreneurial hat on and come up with low-risk innovative solutions. WEB STRATEGY You are to prepare for actual start-up/revival of the business as an E-Commerce retailer. You will lead a team of 3 other people (4 person team). Each member must contribute to the satisfaction of the group to receive the group grade. There is a group contract and group evaluation in this document that you should discuss, change and sign. Post your agreement on your group discussion board on Cloud Deakin by week 3. For maximum productivity, it is suggested that the team break up the assignment into: A. Research, B. web strategy, C. creative, media, integrated marketing, D. relationship, target segments, E. domain development, naming, F. etc. The purpose of this assignment is to provide a real life experience of starting up/repositioning an e-commerce retailer based on the insight gathered in this process combined with course learning. When possible, students should conduct brief surveys of what others think of the business for supporting research – talk to your friends, family and colleagues. To keep this real, you will have a budget of AUD 40,000 +25% (4 partners each coming up with some cash upfront). This will include your stocking, setup and marketing costs. If you want to increase the budget, you will have to make a STRONG justification. This money is to last you for 12 months and you will have to provide projected a return on this investment that is based on your proposed activities. Give us your calculations as an appendix and put a list of strategic items (e.g., an account/spreadsheet/financial table) that a business owner can easily understand. i.e., I will do A media to get to result B increase in sales - $3000. A will cost Y dollars - $1000. After we spend Y dollars, we should increase sales by X amount – 160 units. This will give us Z profit/market share/growth - $4000 in total sales minus $1000 additional costs of A, gives $3000 result for B. So By doing A and spending Y, you will get result B. Note that every strategic “vector/initiative” has to be costed and have a return – this will help you to check whether your strategy is achievable. The following sections describe the key elements that need to be considered and included in your retail strategy report. Background Use the material from the brief to write a company background section for your assignment. You will have to then decide on a retail position and strategy. This has to be researched and substantiated by using retail frameworks, peer-reviewed literature and studies. Have a quick look at the external elements that are affecting the industry. Is it growing, shrinking, stagnant? What do experts say about the sector’s prospects in industry reports? Use the library resources – e.g., GMID database, CIA factbook… Evaluate Competitor Web Sites To do background research: Go to four retail web sites and shop for the product for which you are developing the strategy. For example, if you were shopping for lipstick that appeals to colour cosmetic users who like alternative brands (as opposed to mainstream brands like L’Oréal), you might try to find similar lipsticks at four different retailers who are the closest competitors – consider: price/target customer segment/availability. For example, you may view Jeffree Star lipsticks, Shanghai Suzy, Kylie Cosmetics and LipLab. Here are some questions that can help you to evaluate your competitors. Be brief and to the point in your description. 1. Identify the retailers you chose and why. 2. How do you compare your experience shopping on the Internet to shopping in a local store for this type of product? 3. What are the advantages and disadvantages of the Internet shopping experience? 4. Compare the retail offerings of the product you were shopping for: you may wish to look at the multi-attribute model to complete this table. 5. Which one of these sites would you use? Why? 6. Create a market position matrix (see chapter 5) to see where our business would fit in the market (look specifically at segments and retail formats and pricing) 7. What are the unique selling aspects of each competitor, can I copy these and does mixing these selling aspects make sense?