Homework answers / question archive / Research Template Business Scenario: Social commerce, which refers to the use of social networks in the context of electronic-ecommerce (e-commerce) transactions, are becoming increasingly popular today

Research Template Business Scenario: Social commerce, which refers to the use of social networks in the context of electronic-ecommerce (e-commerce) transactions, are becoming increasingly popular today

Business

Share With

Research Template Business Scenario: Social commerce, which refers to the use of social networks in the context of electronic-ecommerce (e-commerce) transactions, are becoming increasingly popular today. In particular, the engagement of Social Media Influencers (SMIs) can help businesses and brands gain exposure on social media and, consequently, improve their sales. Because of this, your group has decided to start an online portal to match businesses with SMIs over the Internet. Project Scope: This project requires you to explore various creative ideas and make a range of decisions regarding your business model. You should first decide on the type and range of businesses/products you are catering to (e.g., makeup, clothing, accessories etc.). You will then need to decide on the customer group (or groups) you want to target (e.g., students, mature age, etc.). In any case, you need to have a strong rationale for the business decisions you make and remember that your goal is to match your customers (businesses and retailers) and their interests, traits and preferences with the right SMIs. Keep in mind that you cannot hope to do everything! You will have to decide what your strategy is. The following considerations will be helpful in defining your strategy: • • • • • • • • Your current competitors Current state of the industry Target customer segment(s) and why Customer attraction strategy • Requirements of your customers How to provide value for your customers Where will your revenue come from and why Communication strategy with your customers Any additional value-adding services The written report should consist of the following parts: Task 1: Executive Summary This is a concise description of the proposed business idea. This should be a high level summary, written for business managers. Elaborate on the core value proposition and how your business is going to make a profit (where does the money come from?). This summary should be compelling enough so that it can be used to convince people to invest in your business. Task 2: Strategy & Value Proposition Describe the key opportunities and threats in your selected industry, your competitive strategy, and the value proposition of your business (i.e., how your business intends to compete in the marketplace, add value for customers, and what its source of income are). To do so you will need to apply the models for strategic analysis covered in this course. However, you only need to provide a summary of the results of your strategic analysis, not a full account, here in Task 2 (e.g., not a full SLEPT analysis). Please include a full SLEPT analysis in an appendix to the report (this will not be included in the word count). Task 3: Website Design and Features Analyse the information needs of your business. Specifically, design and present a website (e.g., a digital picture of a main web page). The design should capture the relevant information needed to support the core business functions and the services offered by your business. Your website design should be supported by a concise narrative describing the information needs of your business (i.e. a literal description of your design and website features). Task 4: Business Processes (e.g., supply chain, digital infrastructure) Identify the types of technologies and/or systems software that will be used. Draw detailed flow chart(s) of the business processes and discuss the key features of each functionality (you may include both hardware and software where necessary). Business processes include supply chain, order fulfilment processes, information dissemination, returning process, customer-website interaction, etc. Discuss how the business will interact with customers, suppliers, and partners using multiple channels. Task 5: Communication Strategy and Measures of Success Discuss what customer attraction strategies will you use and justify why you have chosen them. Consider different types of digital marketing. In addition, identify key measures of success that you may use to assess the business and website performance using your criteria. Research Template The written report should consist of the following parts: Task 1: Executive Summary This is a concise description of the proposed business idea. This should be a high level summary, written for business managers. Elaborate on the core value proposition and how your business is going to make a profit (where does the money come from?). This summary should be compelling enough so that it can be used to convince people to invest in your business. Task 2: Strategy & Value Proposition Describe the key opportunities and threats in your selected industry, your competitive strategy, and the value proposition of your business (i.e., how your business intends to compete in the marketplace, add value for customers, and what its source of income are). To do so you will need to apply the models for strategic analysis covered in this course. However, you only need to provide a summary of the results of your strategic analysis, not a full account, here in Task 2 (e.g., not a full SLEPT analysis). Please include a full SLEPT analysis in an appendix to the report (this will not be included in the word count). Task 3: Website Design and Features Analyse the information needs of your business. Specifically, design and present a website (e.g., a digital picture of a main web page). The design should capture the relevant information needed to support the core business functions and the services offered by your business. Your website design should be supported by a concise narrative describing the information needs of your business (i.e. a literal description of your design and website features). Task 4: Business Processes (e.g., supply chain, digital infrastructure) Identify the types of technologies and/or systems software that will be used. Draw detailed flow chart(s) of the business processes and discuss the key features of each functionality (you may include both hardware and software where necessary). Business processes include supply chain, order fulfilment processes, information dissemination, returning process, customer-website interaction, etc. Discuss how the business will interact with customers, suppliers, and partners using multiple channels. Task 5: Communication Strategy and Measures of Success Discuss what customer attraction strategies will you use and justify why you have chosen them. Consider different types of digital marketing. In addition, identify key measures of success that you may use to assess the business and website performance using your criteria.