3. elite group of developers and ecommerce marketers that are
well trained and approved by Alfa to integrate their app and
website. Their experience will drive the company’s success by
welcoming changes needed for growth as they honor the loyalty
of their customers and value of their brand. The development
stage my business is currently in is the expansion stage where
we run on routine and we have firmly established our presence
in the E-commerce industry and we will be happy to broaden
our horizon by working with Zebras by helping it venture new
geographies with its products. The financial data on sales are
$5 million in total revenue for three years and cost of goods
sold is $2 million. The gross profit margin is therefore 60%.
The amount of money I am requesting is $3 million and for
investors is $2 million. The percentage of ownership I am
offering in exchange for their backing is 25%. Major goals that
my business has achieved so far include customer loyalty and
repeat purchases; in the near future my business seeks to
achieve the maturity stage of development.
B)
Product differentiation involved differentiating the
product’s size, origin, branding, packing, adding features or
ingredients, offering bonuses and highlighting features. The
product size used stood out in the crowd due to the different
sizes I offered by making my products three inches longer and
three inches smaller than my competitors. I also emphasized
mine to be lightweight, streamlined and slim than my
competitors. I emphasized on the origin by mentioning that the
product was made in specific country, region which I
highlighted in the brand, this helped the product to get noticed.
I placed more creativity in my branding by hiring proficient
4. designers in the area of my product which helped to gain an
advantage. My creativity in packaging went a long way to
getting my product noticed in pages full of search results with
products similar to mine from my competitors. I also
differentiated my product by adding a simple features and
ingredients, which added great contrast to other brands from my
competitors. I also differentiated my product by offering
bonuses which added extra value; I sourced cheap small items
which I inserted into my products. I also differentiated my
product by adding features to the same features through
highlighting. I also differentiated my product by exposing the
weaknesses of other brands after reading through my
competitor’s reviews. To gain a competitive advantage and gain
world-class levels of performance over other firms, I used
quality differentiation by producing high quality products at a
lower personalized price to acquire customer loyalty conversely
to those firms offering high prices. This helped acquire wider
market coverage and aggravated price competition. I used price
differentiation by charging different prices for similar good
including charging different prices as per the quantity of
purchased goods, charging different prices for every good and
charging different price for different groups of consumers for a
similar product.
The expertise and knowledge harnessed was applied on
understanding the needs of the customers, the business
environment knowledge was used in processes, designs, and
make plans for future activities and to recruit the necessary
staff experienced to get the work done for business success. In
order to succeed some of the resources used during planning and
preparation to increase chances of success enormously include
physical resources, educational resources, emotional resources
and financial resources like loans, investors. Human resources
that the firm was heavily reliant on included talent and the
strength of employees through hiring professionals who were
experienced and have track records in their area of expertise,
this ensured efficient accomplishment of the mission and goal
5. of the company with competence. The technology used included
artificial intelligence which triggered a substantial amount of
fear, coverage and media coverage. There was also analytics
data for careful data analysis to understand performance of the
market. Natural language processing technology was used for
communication due to limitless potential in the workplace
including deployment of open-ended surveys and improving
business performance. Blockchain technology was also used
especially in Human resource. Technology increased buyer’s
power for products, reduce supplier power and create entry
barrier. The distribution process I offered for my products
included free delivery of my products at any location within 24
hours than my competitors who offered at a ledger fee. My
supply chain management involved optimization of my business
operations to maximize efficiency and speed leading to increase
in costs. My branding strategy involved positioning of the
brand, selection of the brand name, brand sponsorship,
development of the brand and using private labels. I used
Trademarks to protect distinguish my business, build the
goodwill of consumers and solidify my reputation as the source
of their goods. I used Copyrights for my original work which
distinguished the work from other competitors. I used Patents to
acquire a legally enforceable asset. Rewards recognition over
my competitors enabled more engagement, inspiration for
innovation, eager to accelerate development, optimism sharing
with customers, more output and built a large customer network.