| | | | ONLINE FLOWER SHOP BUSINESS PLAN CASE STUDY: TULIPWORLD Introduction to Cyberpreneurship (BEN2019) MR. LIEW TZE HUI Prepared by Aida Abolhassany (1071118199) Date prepared December 2007 ONLINE FLOWER SHOP BUSINESS PLAN Table of Content Page Executive Summary 4 The Mission Statement 5 The Analysis of the Business Environment 5 Description of Products and Services 5 Analyze the Competition 6 Description of Pricing Strategy …show more content…
And remain a step ahead of the competition through an exemplary service provision. The Analysis of the Business Environment Building a business from the ground up is a real challenge for anyone who is thinking about starting business. That is why many would-be business owners first explore the possibility of finding a flower shop for sale that is already successful. Even those that may not be the most successful financially but must sell out for one reason or another can prove to be a good financial investment to the smart entrepreneur that knows the floristry business. Updating a place through renovations, contemporary arrangements and fresh consumer appeal can do wonders in rejuvenating a failing business if a prospective owner uses smart business tactics. Some prospective business owners, however, have a dream of owning their own flower shop online that they start from scratch and can run exclusively according to innovative concepts. Nowadays, development of new technologies and easy access to internet affected the structure of some businesses in different ways. The different elements such as cash payment problems, traffic difficulties, waste in time and energy and etc. made business owners to looking for some new ways to offer their services and products to the customers in a more convenience way. Online
The Internet over the past few years has seen a huge increase in online businesses and consumers. Electronic-commerce is expected to generate $36 billion in revenue during 1999, up 140% from last year alone.[1] With such a huge amount of money to be made on the Internet it is becoming very appealing for small businesses and start-up companies to try and make their niche in e-commerce. The Internet is drastically affecting the way companies and people conduct business now. E-commerce encourages growth in existing as well as new businesses because of lower overhead costs, the huge consumer base and the freedom of information flow. However the online revolution has created a large
Nowadays, e-business popularity is increasing dramatically amongst customers and becoming part of their lifestyle. The usage of the internet as
Other companies also address the online environment. The great potential and the numerous advantages of doing business on the Internet have appealed many companies. The online environment allows these companies to reach a larger number
Online purchasing is becoming more and more practical thing for contemporary customer. It is explained by high internet penetration in every country, lower cost than in retail network, door to door delivery. Internet plays an important role nowadays; therefore it creates a new market, which sometimes is quite difficult to measure. Online shopping is different from the B&M shopping due to the fact that there is no physical presence of goods, from other standpoint internet is able to sell way more services and motivation and decision making process directly connected to the feedbacks.
With the invention of World Wide Web, the corporate sector has evolved into new dimensions. The fast, quick, reliable, accurate and efficient internet systems of E-commerce have provided the world with new and unique business opportunities.
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.
Many long term businesses are faced with extinction these days. One of the major reasons that some of these businesses are failing is due to little or no internet presence. People are relying more and more on the internet to make their purchases as a more convenient model of shopping which can save time, and often money as well, in the search for their preferred item. A business looking to remain competitive and relevant in today's market will need to integrate internet sales into their current business model. Spear-heading this change can be a daunting task without a clear way to implement the change. This paper will discuss two change models to assist in the process of making the transitional change for both short term and long term success.
The internet and World Wide Web are extremely well suited for conducting business electronically on a global basic, Web-based Electronic Commerce(EC) has introduced unprecedented opportunities for the marketing of products and services, accompanied by features, functionality and innovative methods to serve and support consumers. E-commerce has became a major catalyst of the economy and remains a vital growth engine for businesses today, It successful change the consumer behavior. Consumer purchases over the Internet continue to grow from year to year. The survey involving
A computers have become more mainstream, more and more operations are conducted online. From online bill pay to simple searches, as one would do with the yellow pages, to online shopping, the Internet has helped shape the way computers are used today. With the Dotcom boom of the mid-nineties and early 2000s, ecommerce and e-business really started to take off. The Internet has given way to some of the biggest economic booms in history. The invention of smartphones and tablets has allowed for consumers to have instant access to the Internet, right at one's fingertips. While e-business is becoming more mainstream, and has its advantages, e-business also has its disadvantages.
The Internet has been key in opening the global economy of the United States and many other developed and underdeveloped countries. Many companies are relying more on having an online presence to reach communities and individuals outside of their national scope. The internet allows for access to more information that allows different markets and business of all sizes to increase productivity, be innovative and function more efficiently. From the basics like B2B for needed materials, products and services allows for a faster collaboration to help boost sales and help the overall economic growth of varying markets. The creation of
Online business using the internet has experienced significant growth over the last two decades. According to the Internet World Stats (2014) the number of worldwide internet users has grown from an estimated 16 million in 1995 to 2.9 billion in 2014. This world of interconnectivity has provided a way for people all around the globe to communicate with one another in a real time format. The internet has removed the distance between governments, industries, businesses and individuals. This interconnectivity has helped to establish the foundation for a globalized community.
The Internet is a powerful tool that can make your business more productive and profitable. The rapid growth of internet is bringing rapid grow of the online business opportunities. Internet gives a lot of new opportunities to expand their business activities and increase their profits. Most companies use the internet to manage their work. People can go to the business home pages to learn more information about the products. Online businesses like Amazon and eBay by going to their website people can purchase while they’re sitting at home.“Some hope the Internet will
In today’s world of business, everything is computerized and most of the companies use the Internet and information business to help keep their quality, save time and also cost. It also can reach out to more customers worldwide. For an example, with a website in the internet, it would relay the message to millions of viewers worldwide regarding the product and service that the particular company can provide and indirectly saves cost in advertising in television and print advertisments.
1-800-FLOWERS.com was founded in 1976 as a single store, only coming into real growth as a prominent floral wire service (a third party company that manages orders between customers and local florists) in the late 80s and 90s. It achieved great growth and public notice by investing early in emerging technologies, partnering with early internet providers as early as 1992 and establishing tele-commerce by 1995 (and mobile apps by 2012). 1-800-FLOWERS.com is a multi-platform business that uses the internet, retail stores, and over 100 franchise stores to sell its products. In addition to selling flower arrangements, 1-800-FLOWERS.com owns many other companies such as Fannie May Confections, Inc. (premium chocolates and confections), Cheryl & Co. (fresh baked gifts and desserts), 1-800-BASKETS.com (gift baskets), The Popcorn Factory, Winetasting.com and many others (which has leads to fears about brand dilution). 1-800-FLOWERS.com reduces the bargaining power of suppliers by working directly with local professional florists by setting up a BloomNet florist-to-florist wire service network. 1-800-FLOWERS.com comparatively has a much larger revenue than the industry in general ($660.9 million compared to $76.1 million) and a larger variable employee base (because of very busy days like Valentine’s Day, etc.). However, their operating margin is much lower (1.18% to 21.28%) which implies variable costs are very high. 1-800-FLOWERS.com is only located in 12 states in the United States
Businesses that use internet as a marketing tool have the advantage of reaching many customers within a short period of time. Marketing over the internet enables the businesses to overcome the