- Business Analysis:
Our Business is purely E-commerce, which is ultimately the trending one’s, which brings necessities to your door steps rather than people going to stores. We initially came-up with an idea which should be viable in the UK and Globally. The below was the analysis which we have done, before we started establishing our roots in the company.
- E-Commerce takes ascending growth, but growth is pretty cool.
- Sellings desired goods, directly to consumers avoiding third person’s entity involvement.
- Customers mindset for addicting to the ease of e-commerce business.
- Attractive offers and new channel strategies during regular & special occasions.
- Expansion can be done globally over a period of time.
- Easy way for customers to buy desired goods through handsets & PC’s.
The mentioned were the few key points which struck our brains before setting-up my entity in reality. We initially concentrated solely on creating our own business model and boundaries which should eventually make our company globally notable with good organization standards and revenue.
We at our organization solely believe in our strengths, and focus more on it. We periodically concentrate on our negative aspects and weaknesses and try to solve them slowly as and when needed. We have a good set of team players who are actively involved in technology driven workplace, business model methodologies, finance guys and others who are contributing to the wellness of the company.
SWOT Analysis:
| STRENGTHS | WEAKNESSES | OPPORTUNITIES | THREATS |
| Good team players and passionately working staff. | We lack in technical infrastructure at our entity. | Big opportunities in this arena globally. | Highly competitive area, with many big players involved/established. |
| Purely/Genuinely focusing on targeted products & customers for a certain period of time. | We need to more focus on logistics POV. | High revenue can be created with updated marketing strategies. | Need to be financially strong until be touch break-even point. |
| Young technical team, with innovative contributions towards developing company mobile applications, SEO & online marketing. | We are a step backward with financial stability when compared to established E-Commerce companies. | Good way of understanding people’s mindset and attractive areas, which would ultimately lead us to expansion in other concept driven work. | Slow and ascending growth. Need to sustain until we touch our initial revenue. |
| Experienced set of Staff members in Business Management (marketing, finance) | Initially it might consume time for on dot/time delivery for customers. | Good way to provide work opportunities with respect to engineering, business minds, other roles. | Huge bucks need to be spent for marketing, which will eventually lead us to dry pockets. |
| Ability to work irrespective of time and produce good output. |
The main motto/intention behind this company is to create employment, to make oneself stand on their own feet, attract customers with our quality & responsible working progress. We also have the confidence of reaching higher standards with respect to revenue and as a unit.
“The Nile” is our brand title and adding the tag “Your conviction, our growth” with the title.
- Company’s e-marketing strategy:
Our strategy initially is to maintain an eco-friendly relationship with the customers and also we would like to restrict our business by selling less products to the customers. The category of products which we sell in our initial days depends on the mindset of the customers and the usage of the product. Once we meet our company estimations with financial stability, then we would enter with every category of product. The foremost is to grab the opportunity, which would be ultimately accomplished by the customers and it can be put on ground by attracting/engaging customers with our quality, service support, web interface, offers/discounts, creating a brand.
The five stages of Customer Loyalty include the below points.
- Creating a Compelling Vision of Customer Loyalty.
- Design great Customer Experience.
- Build a Referral System.
- Leverage Technology.
- Constant Improvement.
We would like to continually improve our brand by enhancing a great design strategy which brings good customer feedback and with the advancement of technology we inculcate the best online marketing strategies. The key for boosting any business is to make customers buy their desired product irrespective of the category and to make it possible, we need to heavily influence our e-commerce platform with excellent branding, attractive offers, digital & offline marketing, etc… The primary goal for any entity is to create a company brand in customers minds. The brands like starbucks, tata’s, amazon, levis have achieved it over a period of time by gaining respect from the consumers on their products. When it comes to gaining respect from the consumers, it depends on the way we behave with them. And hence eco friendly is the best way to maintain them. With technology advancement, promotion or marketing has been turning quite easy with the digital marketing strategies, Search Engine Optimization, Google Ads, Online Ads, offline marketing promotions with respect to newspapers, pamphlets, etc…… The platform of marketing varies from web to mobile as the interface would be completely different. It is estimated that around 470+ million users are actively using mobiles/handsets in Europe, which indirectly specifies the nature of buying a product through mobiles. For mobile platforms, our teams have done an excellent job in creating a mobile application which would be available in every mobile OS available(IOS, Android etc..) , as we believe an attractive interface is the key for initially tapping the customers and keeping credits on our plate.
- E-Selling Strategies:
“Selling is an Art”, and I personally believe in the fact that to accomplish a good stature in the big league we need to sell our products rigorously. The agenda includes tapping the customers in different sectors of the continent, based on multiple criterias , like place of living, income of the respective people of state, the usage of the needed products etc…. And it would be wise to first market our products and then sell accordingly. E-commerce is the next revolutionary zone, which halts the offline stores completely. The ease and nature of buying products will eventually keep the online market high with lapse in offline stores. The best part is , we come with creating business outside our continents which will create big scope for job opportunities. The employment creation is very necessary for the young citizens of any nation and we as an entity feel that e-commerce is the one to do it upto a great height. For instance, amazon, ebay, alibaba, have started the organization restricting themselves only to one part of the country , but their popularity rose over a period of time, by spreading their web to other parts of the globe. We believe the same and also we are ready for nexus with our competitors, by which both would be benefited. The degrees of nexus would ultimately depend on the market situation at that point of time and alliance is also a key for expansion.
- Risk Analysis to our Company Business Model:
Any organization, having a transparent and clear risk analysis is very essential. The reason being is to face any consequence which might affect the company largely when we, as a team end up keeping a wrong foot. We personally believe that taking risk is absolutely needed in any business, and to handle it we need proper future vision, good risk analysis. As I said earlier, we initially focused on only tapped customer areas and restricted our product selling boundaries, only to few products. And after we ascendingly raise our financial stability, which would eventually touch our break even point and then it would be wise to enter with different category products & explore our business. The E-commerce industry is having a great potential, and strong competition with many big players involved. But each one has their own market with respective customers. We clearly analyse, prepare for the worst while taking any bold decisions, which would ultimately shape our entity to a new form.
By,
Bharath Bharadwaj.