Need a paper done

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My Team Project Business Idea Proposal

*** But the topic is changed now our business idea is to start a e-commerce website for “selling baby shower gifts” ***

Changed Topic

“selling baby shower gifts”

Team Project Business Idea Proposal

Problem/Opportunity

Whenever a person tries to find some product or an item on the internet, they cannot find the exact item they are looking for. So out of this thought, the idea to start an e-commerce gift delivery business is generated. The opportunity for this business is enormous because not all e-commerce business provides the benefit of personalizing an individual gift. Since there are many competitors such as Amazon, Alibaba, and others, none of the e-commerce giants offer the opportunity to customize a gift. So as a gift delivery business, our company will allow the customers to customize their gifts from bouquets and cakes to unlimited choices. One of the important reasons to choose an e-commerce gift delivery business is that the customers' reach is not bound to a single place or city. According to FRPT- Retail Snapshot (2020), it is stated that due the changes based on the COVID-19 have also shown a drastic change in customer behavior to use e-commerce websites for shopping. Due to COVID-19, most of the businesses are transforming into a new era, which is e-commerce. Hence it is the best time and opportunity to start an e-commerce gift delivery business.

Industry/Competition

The competition in the e-commerce industry is growing tremendously but having a unique and personalized business such as a gift delivery business will have fewer competitors. Our business idea will have fewer competitors because our business will provide a wide range of customizable products for the customer. Companies like Amazon are the biggest competitors, but many other competitors offer the same services as our company. Still, our company will provide services that are more focused on customer satisfaction and supplier satisfaction. As Wang et al. (2021) stated, companies like Amazon use a sustainable strategy to compete in the e-commerce business and stay ahead in the competition. So, our company also uses the sustainable approach, such as creating value for the customers and the company employees and even developing a plan to provide high-quality and long-lasting products. All the planning and decision making helps our company to stay ahead in the competition.

Business Model (value proposition with the target market description, revenue model)

Our company's business model is a direct business model. As a company, we are responsible for finding our own customers and have full access to the customer experience. Since our company's primary strategy is to provide complete customization of the products, a direct business model is the best option. Having a marketplace business model will have several benefits where we do not have to worry about customer handling and delivery problems. But our company's strategy is customization, and if we choose a marketplace business model, it will stop our company from providing the best customer experience. Our companies target market is the people looking to gift someone they love for special occasions or staying far away from home who wish to send a gift to their loved ones and many other individuals who want to surprise their friends or family with a special gift. Whoever willing to send gifts to their family or friend, our website will provide them with the best possible options available in the market. The company's revenue model is simple as our company generates revenue from selling the products and generating revenue from all the customizable options.

E-commerce Strategy and Traffic Generation

The primary e-commerce strategy of our company is to create a long-time value for the company by providing good quality services acceptable services to the customers and providing a wide variety of products. Since it is an e-commerce business, there will always have a wide range of products available. Making those products available to the customers will drastically improve the company's customer base. Our website's primary way to generate traffic is to advertise our company and services on multiple social media platforms since social media platforms are the primary traffic generators. Next step to improve our traffic by using search engine optimization (SEO). SEO will help boost our traffic on our website, which is natural or organic traffic. According to Nonprofit Communications Report (2020), figuring out what people search for and positioning our company with genuine and valuable content will help to improve the traffic on our websites. Another strategy to improve traffic on our websites is by making irresistible headlines and promoting through paid promotions. All the above-mentioned techniques will help our company to improve our website's traffic effectively.

References

FRPT- Retail Snapshot (2020). As virus changes consumer habits, FMCG firms see e-commerce business booming. FRPT- Retail Snapshot, 13.

Nonprofit Communications Report (2020). Take Steps to Increase Website Traffic. Nonprofit Communications Report, 18(4), 8. https://doi-org.ezproxy.myucwest.ca/10.1002/npcr.31446

Wang, J., Gao, X., & Wang, Z. (2021). Sustainable Supply Chain Decisions under E-commerce Platform Marketplace with Competition. Sustainability, 13(4162). https://doi-org.ezproxy.myucwest.ca/10.3390/su13084162