E Market Business Plan - Research Paper Example

E Market Business Plan Executive summary In the world today, people are advancing in technology to such levels that they can be able to exchange goods and services without necessarily having physical contacts. The information technology has advanced so that information can be passed from one individual to another within a very short time and easily. This has helped people to develop ways to negotiate means to buy and purchase products from people who stay in distant places without necessarily visiting the people who possess such commodities. The payment systems are implemented in such ways that money is transferred from one individual to another through an internet enabled systems and connectivity that link the buyer to the seller (Turban, King and Lang 418). Through the different systems, commodities are delivered to the customers who buy them as per plans that are considered appropriate to the two parties involved in this business (Funk 27). In another way, marketing and promotion services are conducted through the internet and they characterize display of information that is important about specific commodities is availed in websites. Through the online services, a variety of businesses have been established in the world, ranging from banks, store and warehouses as well as supermarkets which sell food products and allow payments to be done in advance and through electronic transfers. In most instances, credit cards have been used to make payments for good ordered and they enable a buyer to purchase products that are worth very high amount of money without limitation (Turban, King and Lang 384). Global Artisan Network Company (GANC) is a business that is designed in that it can provide its customers with a variety of products in the field of art. GANC is established in the principles of sale of products and services to customers who are found in different parts of the world. The sale of products will be managed only through online transactions which involve buying and selling of products to customers, marketing and promotion and ordering through a well-designed system to make the work easier for all the customers. GANC was established as a method to avail artwork to people who are in different parts of the world, which would not be available on stores in some places. The business idea was established in order to address the issue of art business by making the products available to as many people as possible, both in terms of quantity and quality. GANC will have its offices in the city of New York in the United States of America, (USA) but it will serve people in different parts of the world who have access to the internet. GANC will deal with products like music in CDs and DVDs, painting, sculptures and photographs, which are highly required by very many people within the world (Funk 57). Mission To be the best alternative artwork center to all the people in the world distinguishing ourselves in terms of diversity of products, high quality and providing accessible products to all customers and assurance of timely delivery Keys to success Highly accessible website to display our products High technological system of making orders, payment of orders and communicating to the customers Effective advertising programs which will ensure that all the people are able to access the products An exciting image of the GANC store to display the products that are purchasable by customers An effective shipment programs for products bought by customers from far countries Market Description In the world today, pieces of art have been considered one of the important parts of life to very many people in different social classes and of different economic status. In the field of music, there is production of different varieties according to language, styles of singing and the contents and the intended purposes. For instance, many people are engaged in production of gospel or secular, reggae or soft music as well as the diversity in different world languages and cultural diversities. With the world development enhancing people’s movement to different places, it has been difficult for them to access the music of their choices especially if they are to stay in different areas. Photography is a business which helps people to keep records of different features in the world about personal life or about the environment in general, it has therefore, gained popularity in the world. In terms of paintings and sculptures, people have invested a lot of money to produce some of their own or for iconic people in the world today. Many potential buyers have lacked ways to link with people who can be able to produce high quality products and through GANC; they can commit their work to world experts. This will promote their participation in buying of high quality paintings and sculpture from the company and hence, will guarantee the popularity of the experts and as well as higher productivity of their business. GANC was established to address the needs for artworks in their different forms by the people not only within the city New York but also in different parts of the world (Robertson and Chong 12). Products and Services GANC offers different products to their customers which are paid through electronic methods only, and never sold to the people from the stores where they are kept before they are supplied to customers who order them. The products of GANC include; Music in CDs and DVDs in their different varieties Movies and dramas in video tapes and CDs Paintings and sculptures Photography services and pictures of influential people in the world Picture framing services Market Analysis In the 21st century, access to internet by different people in the world has grown to high levels that people are using them to communicate ideas in different circumstances. This means that using information technology is a viable way of advertising, ordering, buying and selling of products in different places in the world. This means that very many people are in a position to link to different places in the world so that they can be get and purchase commodities which are produced far away from them without necessarily incurring the cost of transport to different (Turban, King and Lang 410-418). On the other hand, artwork has developed at a great rate to represent different things that are needed by people who are within the areas of production or those who are away from the area of production. The desires of the people have shifted from the quantity of the product to the value tagged on the quality of the product they need and can purchase. This means that although there could be different companies offering similar services, people may opt for the products of high quality at a higher price than those of low quality at a low cost. The understanding of these requirements has influenced GANC in production of exemplary qualities products and services to their customers in the world (Mohammad par 2-7). Market Analysis In the US, music has high revenue of about 50% of all the creative industries within the country, which implies that it is a very productive business in which investment is worth. By the end of 2011, music was a key contributor to the digital economy not only in the US but around the world by becoming one of the most popularly bought and sold commodity to different people within the world (IFPI 4-12). In different countries in the world, art industry is expanding at a very high rate as compared to the past years where production and consumption of artistic materials was limited to few people. In India for example, there growth of music art industry was realized before the year 2008 which saw many investors put their money to artworks and expand it to a greatly rewarding business venture. Although it collapsed for some time during the global economic recess, it recovered quickly and it is now a flourishing business with potential to enhance the Indian economy. In China, art industry is on the boom considering the production of artworks that are related to different contemporary products in the world as a result of the need of the people. This means that the demand for the products of art is on the rise and this means that people are investing a lot of their money on pieces of art (Mohammad par 5-7). Considering these countries as well as the growth of art industry in the countries of the gulf i.e. Syria, Qatar among other countries is a clear indicator that people have invested a lot of their money to develop the industry. Investing in an online art industry means that GANC is likely to make profits easily because consumption of pieces of art are generally on a high level of usage (Mohammad par 5-7). Marketing Strategy So as to realize moving of products from GANC, the company will invest in production of an online magazine that will be posted in a number of websites to expose its products to different potential consumers. This will ensure that very many people will get the information about the artworks by GANC and will be attracted to purchase (Turban, King and Lang 387-398). To facilitate purchase of a large quantity of products from GANC, the company will offer its customers with discounts on items that are bought up to a certain monetary value. This will ensure that all the people will be able to order more than one product within the same time and pay for them (Sheehan 15-19). Management Summary The company will be managed by some people few individuals since there are no people who will be visiting the business premises to pick their orders. The team of the management will include George Washer, the daily business manager; Luke Lewis, buyers and marketing manager; Antony Davidson, website and processing manager; and Miriam Victorina, ordering staff. Financial Plan GANC will expect to make low profit in the initial time of its operation considering the amount of investment they will put in advertisement and publicity. However, they are expected to pick up at the end of the first operational year and to realize a growing profit for the years that will follow without any cause of significant losses. Works Cited Funk, Tom. Web 2.0 and Beyond: Understanding the New Online Business Models, Trends, and Technologies. Westport, Conn: Praeger, 2009. IFPI. Digital Music Report 2012:Expanding Choice. Going Global, 2012. [Accessed on June 8th, 2013] Web. Mohammad, Arsalan. The emerging art market: High growth in China and the Gulf. KPMG, 2012. [Accessed on June 8th, 2013] Web. Robertson, Iain, and Chong, Derrick. The Art Business. London: Routledge, 2008. Sheehan, Brian. Online Marketing. Lausanne: AVA Academia, 2010. Turban, Efraim, King, David and Lang, Judy. Introduction to Electronic Commerce. Upper Saddle River, NJ: Prentice Hall, 2011. Read More