ENGM 640
Business Strategy
Strategic plan
For
Virtual Indian Grocery Store in USA iSpiceShopStop.com By
Subhakar Yarlagadda
Subhakar.Yarlagadda@mines.sdsmt.edu
Executive Summary
iSpiceShopStop.com is concentrated on online Indian grocery retail business. It plans to connect human beings of Indian foundation with distributors. iSpiceShopStop.com is an online portal available 24 X 7 to the net friendly clients or customers. It’s far a virtual on-line market place facilitating smooth shopping for and promoting of groceries. iSpiceShopStop.com aims to tap the developing Indian purchaser items marketplace. iSpiceShopStop.com plans to begin with its warehouses in six foremost cities from all guidelines covers whole united
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Table of Contents
1. Company Information 4
Vision 4
Mission 4
Objectives 4
Values 4
2. Business Model 5
Categories 5
Business Process 5
Revenue Model 6
3. Operations 7
Operations Model 7
Time slots for delivery 8
How we controlled our inventory 8
Transportation cost 9
4. Competitor Analysis 10
5. Marketing Strategy 10
Situational Analysis 11
Our Offerings 11
Market Segmentation 12
Advantage relative to competition 13
Advertisement Strategy 13
6. Financials 14
Capital Estimation 14
Exit Strategy 17
1. Company Information
iSpiceShopStop.com is targeted on online grocery retail enterprise. It plans to connect customers of Indian origin with vendors. iSpiceShopStop.com is a web portal to be had 24 X 7 to the net clients. It’s far a digital online market location facilitating smooth buying and promoting of groceries. iSpiceShopStop.com aims to faucet the developing Indian consumer items market. iSpiceShopStop.com plans to begin with its presence in six principal towns from all directions covers whole United States of America namely New York, Denver, San Francisco, Dallas, Atlanta, and Minneapolis then growth its local base to more towns in USA.
Vision
iSpiceShopStop.com is an e-commerce new firm with restricted resources but it align all
the position of market leader in this segment, dominating it by its organization, knowledge of the market and superior business model, focused specifically on online retailing. It is possible, however, that its competitors will invest heavily in the online segment and catch up with the market leader. Furthermore, such trends as slow food and ecological concerns may impact on the company's businesses model. They are particularly strong among the urban, well educated and affluent customers. It is dangerous because they are biggest spenders as well as enthusiastic users of internet and possibilities offered by it. Loosing them may disproportionately hurt company's profits and its market position.
However, on a per capita basis, the market is still under penetrated compared to more matured markets.Furniture in India entered the online space around 2011 and today top players like Pepperfry, Urban Ladder and FabFurnish are rapidly growing given the backing from international investors, growing internet penetration and shifts in consumer behavior towards online shopping . The online furniture market in India is expected to follow patterns that are similar to more mature markets in the same segment, such as in countries like Brazil and China. Players are expected to widen their product selection, adopt omni-channel selling, own the logistics networks, resort to deep discounting , all in an attempt to capture a larger share of the fast growing pie that is the online furniture market . Additionally, with the imminent entry of leading e-com players like Amazon and Flipkart the focus is also expected to shift from the premium products to mass market products in the near
The main aspect of e-commerce business is personalisation as it allows customers to find customise range of products for them. In the similar way, Curry help customers in findings their required range of products in consideration to user preferences, at the same time they tends to have behavioural information of their customers through which they provide them relevant messages and offers through which they enhance their market share in global retail business and increases customer loyalty (Arbaugh & Hwang, 2012).
Increase in online grocery shopping segment. As the market is heading to provide maximum consumer value by reducing time consumed for customer, online shopping or pick-up items trends got more attention from all players. Pressure from the new entrance like Amazon can change the game play.
Among the trends in grocery sales is the rise and availability of digital consumerism, particularly among the youngest generations of shoppers. According to analysts, “one-quarter of online respondents say they order grocery products online, and more than half (55%) are willing to do so in the future.”This trend is attributed to the “growth of online grocery shopping is
The trend toward shopping using the Internet is growing faster than expected (Cramer, 2014). Since Internet has become popular medium for people to shop, more companies then launched online shopping platform. With this new platform, they were able to do sales directly to their customer.
Other side, online supermarket run can proposal superior give to consumers who are important demanding private subsists or ought to flexibility concerns (Mohammad Arabzad an, 2012).
Today’s organizations need to focus on their internal customers by promoting team-based cultures. An effective team-based organization will succeed when they collaborate with their team members. Therefore, effective teams value one another, set common goals, and foster a culture where appreciation is expressed openly with other team members (Duggan, n.d.). Creating a teamwork approach results in loyalty, trust, and cohesiveness, this leads to increased productivity for the organization (Duggan, n.d.) Achieving a team-based organization starts with the leaders characteristics. These characteristics should include trust, team empowerment, goal setting, team accountability, and shared leadership (Markovich,
The company realizes and utilizes the social platforms as pathways to acquiring new markets and increase in growth. The well developed company websites provide all the information on products available for sale, their health benefits, recipes, and even provides sections whereby one can access tutorials on how to cook certain healthy meals. Customers can also find and receive gift cards, coupons, and promotional deals through the online platforms. The well developed web structure has also prompted the company to adopt an online shopping system. There is a growing trend on making product purchases online. Most buyers in this time and age would prefer to pay more for services so that they can save time. The online shopping system allows for purchases at any time of the day, time saving and comparison shopping.
Founded by legendary Indian Chef, Hemant Oberoi, Masala Street is an Indian Gastro pub in La Jolla that serves classical Indian dishes and popular Indian street food with a Californian twist. Using new flavors and presentation styles, dining here is always a delight. Meals can be accompanied with local craft beer (20 varieties in the menu) or local Indian beverages. Jain meals are also available, but with a 24 hour
By using the inventory based model this company stands out from competition amongst the other E grocery business as the customers know availability of product “online” unlike other hyperlocal models where company have to ask their local supplier for the availability of certain products. Company has also provided many options to pay for order such as pay online using debit or credit card or pay by cash / Sodexo on delivery.
For this Global Marketing Foreign Market Entry and Marketing Plan, we will be expanding the Whole Foods Market into Italy. Whole Foods Market is considered to be a higher end, more organic store with higher priced products than other markets in the United States. The motto of the brand is “America’s Healthiest Grocery Store” (Whole Foods Market History, 2016). They are concerned with what their customers are eating and overall health, so they offer so many products that are both high quality and healthy.
The idea of the project is refreshing and target the right individual. A strength of the business is their consumers are immediately fascinated by the new business. Today’s generation are constantly updating in technology to where it becomes part of their daily life. Individuals assumed shoppers will not accept the idea of buying fresh food online without seeing and touching the item before purchasing. They also said this about online purchasing of furniture and cars, but consumers continue to purchase online. From the collected statistics from International Business Times article ‘The Future For E-Grocery: Amazon (AMZN) Fresh Retains Lead, But Startups Jump In’, “Almost 40 percent of e-grocery shoppers preferred AmazonFresh over other online food retailers”. Because of their increasing grocery business, they’re part of the competitive market between the top corporations; for an example,
Tesco is retail organisation working in the UK and has accomplish numerous turning points that made them the greatest retail supermarkets everywhere throughout the world. The organisation is working with various 67,784 stores in a wide range of nations on the world with a turnover of about £62.284 billion as it is recorded in the year 2015. Business pattern of the Tesco incorporates grocery stores, hyper stores, and superstores alongside their substantial assortment of organic and non-organic item in the business sector. The organisation is recorded in the London Stock Exchange. It is a part of FTSE 100 Index. Besides, the organisation is likewise one of the organisations that offers internet shopping services to their purchaser and the reason in the quick moving time, when individuals have restricted time to evaluate their life necessities, Tesco's potential buyers utilise the organisation's online administration and recovery their time
The research shows the importance of Ocado’s online presence and what they need to expand their online operations. The introduction of its new stores and their hybrid facilities will make it hard on them in terms of system management.