Since internet is a potentially huge market not only in the developed countries but also in developing countries in Nepal, analyzing the increase in the rate of internet usage, it won’t take long for Nepalese internet users to convert into huge goods market. Due to restriction of direct payment for purchase of goods by Nepal Rastra Bank, people are eagerly using help of websites like harilo. com to purchase goods from foreign market. Also websites like esewa. com have been trying to mobilize online payments. In this scenario, online shopping from local market can be a subject of successful project for profit generation.
Here it is attempted to analyze how a website facilitating for online shopping can be marketed for the best result. Situational Analysis: Online Shopping Online shopping has already reached to its highest potential in developed countries. It is pretty obvious the maximum penetration of internet has contributed for increased online shopping. Also it is distinctly visible that online shopping depends on easiness of online mobilization of funds. Nepal has not been able to capitalize shopping functionality of the internet. The beginning for online payments have been started by some websites like esewa. om, qyxcinemas. com and others who deal with only services not the goods. The most difficult part for online shopping facilitating business would be during the stage of creating awareness as it would be a completely new thing for the customers and people generally resist to change. Also, when things come for making online payments security issues are critical. Product Summary: Bikreta. com is a website designed for facilitating the online purchases of goods and services. The website provides a platform for all the suppliers and buyers for transaction.
The Essay on Pros and cons of online shopping
Evaluating Arguments in Article Analysis Article 1 : Benefits Of Shopping Online Question 1 The issue that is being discussed is about the benefits of online shopping . The article is written on 7th February 2009 by Mansi Citranshi . Today , the world is already at the tip of our fingers . We can do so many things by using internet .Online shopping is a form of electronic commerce where buyers can ...
The website users can be classified into two units and services are provided to them accordingly. Customers: • Variety of Choices Page 2 • • • Sellers • • • online purchase Home delivery Product reviews and comparision Marketplace to sell goods Advertisement Better interactive marketing Market Summary: The internet sector in Nepal is growing at a rapid pace, however, the accessibility of the internet service is only limited to the Urban and Sub-Urban areas of the country. Therefore the service of bikreta. com could be delivered only at urban areas especially at Kathmandu at initial phase.
Especially the market would be the internet users of urban areas. There are people desiring to save time and receive good quality product from home. These peoples have not been served yet. So this makes a great opportunity to serve this segment of people. Market Needs: At present people need to physically attend the market in order to make any purchase. We intend to make the whole process a lot easier by enabling the purchase process online and making the products delivered to their home. Target Market: The services to be offered by bikreta. om is largely aimed toward addressing the various needs of the customers. In other sense the service and information offered to the customers can not only be used for the purpose of online purchase but could be used for selecting goods through Page 3 reviews and comparisons in order to make purchase from the physical market too. Broadly qualifying bikreta. com aims whole of the internet users rather than the ones who actually make purchase through the website. Since advertisement covers a large part of the revenue too, the no of clicks on the website also makes much difference in our revenue.
The Essay on Internet Service Providers
Service provider Services offered AOL FREE Helpline, 7 Email Addresses, Instant Messaging, Parental Controls, 21 Exclusive Channels, AOL Mobile for WAP, AOL Calendar. Blueyonder Free technical support from our dedicated team between 8am and midnight 15 email addresses 30mb of free web space for your own site Free installation software available for both Mac and PC BT Internet Personalised homepage ...
Therefore, the target market is not only the one who make purchase from the website but also the one who navigate the site for information purpose. Market Trends: For the concept of virtual market to be success, there should be high penetration of internet usage. That is the reason why such concepts are already a successful project in developed countries. From the table given below we can analyze that the no. of internet users are increasing in significant rate and so is the per capita income. It means the no. of our potential customers are increasing and so is their spending capacity.
This can be a great benefit for the project. YEAR 2000 2005 2007 2010 Users 50,000 175,000 249,400 625,800 Population 23,151,423 25,408,817 25,874,519 28,951,852 % Pen. 0. 2 % 0. 7 % 1. 0 % 2. 2 % GDP p. c. * US$ N/A US$ 165 US$ 377 US$ 522 Usage Source ITU ITU ITU ITU Note: Per Capita GDP in US dollars, source: International Monetary Fund. Also, the percentage of internet penetration is just 2. 2%. That means we have to work for only 2. 2% of the whole population and our potential customers will keep on increasing. This market will not be saturated soon.
We have 97. 8% of customers yet unexplored. The success of bikreta. com lies on the success of internet penetration all over Nepal. Page 4 SWOT Analysis: Strengths: Cost of Infrastructure is low, offering a shorter payback period. Since there is no close competitor, and the cost is low, the commission and the charges and be set low. Weaknesses: Since such system has never been executed in Nepalese market, there is complete lack of experience and the probability of failure might be high. Lack of complete set of information, related to customer, market etc.
Opportunities: No competitor and can have the advantage of being first mover. Increasing users of internet as our service is completely based on internet. Reducing cost of using internet at higher speed which even increases the internet users and online purchasers. Threats The unpredictable political and economical environment offers risk to the company. Unknown market response to the product: The product being launched for the first time in Nepal offers a huge uncertainty in terms of the acceptability of the services to the consumers.
The Research paper on Emirates Dates And How To Market The Product In (Sweden)
There are various strategies of expanding one’s business. The decision of which strategic move to choose is generally depends on internal conditions of the business in discussion. There are companies that manage to stay in their local markets and continue to harness growth from it, while others discover potential markets in foreign countries that drive them to expand. In the case of business ...
The huge amount of loadshedding during winters can reduce the use of the website to great extent. Competition: Since there is no close competitor we can have an advantage in this field. The closest competitor is the physical marketplace and the success of bikreta. com depends on whether or Page 5 not if we could be able to steal their customers away. The other websites like esewa. com has offered for Key to Success: The Key to success for bikreta. com are: Product awareness: As the first entrant in the market bikreta. com needs to create the product awareness regarding the virtual marketplace.
Feedback and suggestions: When the website becomes operational, the customer’s feedback is much essential and the website should be constantly changed and modified as per the desire of the customers. Variety : Customer seek to compare between various products before making purchase decision. Therefore maximum no. of sellers should be available in the website to make the purchase decision more effective. Marketing Research and findings: Marketing Strategy: The marketing strategy for the bikreta. com focuses on providing easy way of navigation and search system so that the desired goods can be easily found.
Also the design would be attractive and user-friendly and interactive. Broadly qualifying the marketing strategy focuses on the following issues: Market Segmentation: The sellers for the site are to be qualified on the basis of geographical location, i. e. the sellers of the area of our serving areas are to be included. All possible sellers are expected to include, therefore there is no more segmentation of the sellers. Customers can be segmented in various ways: Page 6 Geographical location/Internet accessibility: The consumers who have the access to internet facility can only be the probable customers.
They should be identified and marketing activities should be performed so as to reduce the cost and increase the effectiveness of the marketing. Age : The probable market can be further classified on the age basis and the marketing activities can be targeted especially for the youths. Youths are the ones eager to adopt to new technologies and taste the change. Marital Status and Employment : The other best segment to be targeted can be the working couples who can barely manage time for shopping. Therefore market should be analyzed and targeted on the basis of family structure, employment, type of family etc.
The Term Paper on New Product Launch Marketing Plan, Part II
The following is the second part to the iNKtopia product launch plan. The second part of the marketing plan consists of a detailed target market profile, including buying behaviors, decision motivators, and organizational target markets. The plan also includes steps to manage each stage of the product life cycle and tactical plans for the Four P’s. Finally, the second part of the marketing plan ...
Positioning The website should be positioned as future marketplace, and sooner or later people need to transform into the virtual marketplace. Every effort Price Bikreta. com doesn’t deal with prices and feeds on the commission per transaction from the seller. And since the motive is to increase the volume of transaction, also the sellers would be paying annual subscription fee, the commission rate to be charged pretty low. Since there are no competitors, there is no question about competitive pricing. The rate of charges to be following: Purchase Amount Upto Rs. 10,000. 00 Upto Rs. 100,000. 0 More the Rs. 100,000. 00 Rate 2% 1. 5% 1% Page 7 Annual subscription fee to vary as per the space required by the seller. The price would vary as follows: Space Required 100 MB 500 MB 1000 MB Annual Subscription Fee Rs. 1500 Rs. 3000 Rs. 5000 More than 1000 MB to be provided through negotiation if required. Delivery fee to be charged based on the distance and volume of goods. Product: Basically the product is a platform for purchase of goods and services. Product is customizable for the sellers, as they can receive different services and benefits with the variance of annual subscription fee.
Different value added service to be provided like daily newsletter, new offers, new products in the market through emails. Brand Promotion: Use of internet for promotion especially social networking sites like facebook and twitter. Website will have separate facebook and twitter account to perform active advertisement and branding. Use of hoarding boards at crucial marketplaces for local promotion displaying the hardship of physical shopping. Distribution of leaflets through outlets of our potential sellers. Capitalizing the potential benefits by participating on CAN Infotech and other IT festivals.
Customer Experience: Bikreta. com should will be providing easy activation and deactivation of services. Effective customer feedback system and quicker response system. Page 8 Developing the culture of customer care is much essential. A customers request should be responded quickly and the comments should be analyzed properly in order to make further improvement. Since the concept of virtual marketplace is quite new, the key to success would be continuous improvement through customer feedbacks. Distribution Channels:
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PricewaterhouseCoopers LLP (PwC), a major accounting firm, was engaged in unethical billing practices that generated millions of dollars in additional revenue to the company. PwC was charging its clients the full price of airline tickets and other travel expenses, such as hotel rooms and car rentals, while it was actually expending only a small percentage of the full amount billed to its clients ...
Since the product is a website, the product is distributed online. Financials: The section discusses the financial plan for the launch of the website, in terms of • • • • Capital Investments Estimated costs Estimated Revenue Projected Profit and Loss Projected Costs The initial Cash Outlay for the website would be: Website Developing Charge Domain Registration and Space Purchase Registration charges and other expenses Equipments (1 PC, 2 Laptops) Networking Office Rent Advance & Misc Expenses Rs. 20,000. 00 Rs. 20,000. 00 Rs. 20,000. 00 Rs. 180,000. 00 Rs. 0,000. 00 Rs. 15,000. 00 Page 9 Total Rs. 265,000. 00 Annual Operating Expenses (in Rs. ) Expense Head Office Rent Expenses Administrative and Other Web Space charge Operation Charge Salary Expenses Total Year 1 48000 25000 50000 300000 423000 Year 2 48000 30000 25000 55000 320000 478000 Year 3 60000 35000 35000 60000 350000 540000 Estimated Revenue: The revenue is generated through three different sections. The different sections and and the estimated revenue is given below: Particulars Advertisement Year 1 90000 Year 2 160000 Year 3 220000 Page 10 Annual Fee
