The Ownership of the Business Organization - Assignment Example

Name Institution Lecturer Course Date Business Proposal Role of Members X- Is a co-owner of the business and will have 45% of the ownership of the business organization. X will act as the director of the business enterprise and oversee all management issues of the online store. Y- Will have 36 % ownership of the business organization and is an information technology expert. Y will ensure the designing of the website and promotion of the business organization in online social networks and the company website. In addition, y will monitor and be responsible for all the online customer needs and preferences that will help in customizing the company fashion products according to the needs of the customers. Z- Will have 10% of the ownership of the business organization. Z will perform the duties of an operations manager and be responsible for all the records, payables and receivables, inventories, promotion of sales and sales. Executive Summary This business plan outlines the financial and business promotional plan for Zuquka Fashions. The business organization will have its location in Dubai. The business organization will; deal on products for women, men and children apparels, garments and accessories. The company will include an online store where customers will be able to order and buy their products using online payments systems and request for delivery using an online system that will be generated by the members of the company who are specialized in different areas of specialization. Due to the increasing demand of different fashions in the industry and increase use of technology in doing business, Zuquka will provide a wide range if quality products as well as introduce new brands in the market. The business plan of Zuquka fashions company limited include the various activities of the company that will help the company to take its business into the internet and able to enjoy the benefits of electronic commerce and internet marketing. These activities are designed in way that they will enhance the profitability of the company in the market in which the company operates (Tsongzen & Mengcheng 504). The Zuquka Fashions Company Limited will adopt different models that will serve different purposes in the electronic marketing and electronic business in general. Origin and selection of idea The business idea originated from one of the members who had has a passion for different fashions ranging from accessories to cloths. The idea was discussed among the group member and was agreed that starting an online fashion store will attract a large number of customers who are currently using online social media platforms from different purposes. The idea of using online business originated from X and Y who has expertise knowledge in cloud computing and social networking. The combination of these two ideas resulted in the establishment of an online fashion store. The creativity of the idea is that the business organization will use online social networking sites such as Facebook, Twitter and Instagram to promote the products of the business organization. In addition, the business organization will design a website that has best market practices in the fashion industry so as to meet the demands of the customer. The increases use of online business marketing is the driving force behind this creative idea. Purpose of the Business Enterprise The purpose of the business organization is to use online social media services in promoting and selling of fashion products in the United Arabs Emirates. Company Vision: To become a leading global company offering different fashion designers for a growing generation. Company Mission: To become leaders in fashion designs both locally and abroad. Research Plan According to Lo (2008), in order to start the business there is the need to carry out a market analysis so as to establish the needs of the customer and their purchasing behaviors. In addition, the market analysis will help in establishing the target market and the best practices in the industry. The business organization deals with fashion and beauty products that are mostly used by clients between the ages of 25-40 years who make the greatest number of the customers. This means that the customers of this business organization are mostly technology oriented generation that are well adapted to the current technologies used in internet business and internet marketing. Elking(2001) argues that customers being mostly young adults and the youths they would want to see and examine all the features of a product before they can purchase. Source of Information The research will involve the use of two different sources of information categories namely primary sources of information and secondary sources of information in conducting, market research for the new business enterprise (Talpau & Vierasu 32). Primary sources of information will include the use of interviews and questionnaires that will be used in a survey to establish the market trends, customer needs and user in social media. The company will design a website that will post the questionnaire in the website so that people who visit the website can be able to complete the questionnaire. In addition, the company will identify the target group and use the classroom and other students to conduct a survey using the questionnaire. The questionnaire will be distributed random to students in the learning institution. Questionnaire will include questions on customer needs in fashion, customer preferences, customers using online social networking sites, demographic information. The secondary sources of information will include published journals on online marketing, fashion magazines and newspaper articles on the current trends in fashion industry and online business. The information from the articles and journals will be synthesized and analyzed for its relevance in market analysis, customer needs and preferences. Questionnaire 1. Please indicate your age bracket a) Below 18 b) Above 18 but below 40 c) Above 40 2. What is the level of your annual income? a) Less than USD12000 b) USD 12000 T0 USD 24000 c) USD24000 TO USD 36000 3. How often do you use the internet? a) Rarely b) Daily c) Twice a week d) Never 4. Have you heard about online shopping? a) Yes b) No 5. If your answer is (a) for 3 above, have often do you do online shopping? a) Always b) Twice a month c) Never 6. How do you agree with the statement? Online shopping is risk. a) Agree b) Strongly agree c) Disagree d) Strongly disagree 7. Selection of goods available on the internet is very broad. Do you agree with the statement? a) I agree b) I strongly agree c) I disagree d) I strongly disagree 8. Do you disagree with the statement? The information given about the products and services on the internet is sufficient. a) I agree b) I disagree 9. Online shopping provides proper and accurate product description. a) I agree b) I strongly agree c) I disagree d) I strongly disagree 10. Have you used any online payment system? a) Yes b) No 11. Please write any other comments. Work Cited Elking, K. Customer Acceptability for Online Fashion Shopping. Harburg:Diplomarbeiten Agentur Lo, Y. Comparing Fashion Innovators and Non-innovators' Characteristics and Perceptions of Online Shopping: The Case of Taiwan. New York: ProQuest. 2008. Print Talpau, A., & Vierasu, T.Online Marketing Strategies – UK and Romania. Bulletin of the Transylvania University of Brasov, 5.54(2012): 32-34 Tsongzen, L., & Mengcheng, L. Analysis of Customers Acceptance Behavioral Model for a Dining E-Coupon Sales Website. (English). Marketing Review / Xing Xiao Ping Lun, 8.4(2011): 503-518. Read More