Qrt Task 1

4623 words 19 pages
QRT Task 1
G & G Business Consultancy provides solutions to clients seeking business advice or guidance. In this particular proposal, it will look into the necessary steps to have a successful online gift store. *

* Three problems in present set-up: a) Accumulating unsold items b) Limited capital c) Only on occasional events to sell items

* Strengths of the online store, making it viable: a) Cheaper, flexible mark-ups b) Most items are not available anywhere c) No problem with inventory due to drop shipping d) New and small store e) Won’t compete in saturated markets f) Having a solid and repeatable process on what to sell

* Three problems in present set-up:
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They are not direct competitors to the proposed online store because the products are not identical; however, they sell similar products belonging to the same categories. This again will make the proposed online store become competitive against them. Further, quality of products are not good in these two stores, hence the low score, although affordable. The proposed online store has quality products and can still compete with pricing because the mark-up is flexible.

* A3.Online Marketing Suggestions/ Strategies

1. Marketing Plan:

a. Current Business Situation and Approaches

* Focus:
-Small but “targetable” markets
-Find niche items

* Focus:
-Small but “targetable” markets
-Find niche items

As mentioned above, there are basically three problems that this business is facing: intermittent and non-continuous market presence, inventory problem with unsold items accumulating, and limited capital. To address these roadblocks, it is very much encouraged for the owner to go online, hence this proposal, and at same time, take the drop shipping strategy to manage product inventory. Going online would afford a continuous business with unlimited audience, without having to do hard sales talk on flea markets, and without ever leaving home. Drop shipping is being offered by the supplier which the owner should take advantage of. Reasons being that in drop