HI6006 Competitive Strategy Editing Service
Delivery in day(s): 4
A business planis made to start a new business on Amazon so that it can make the online sale of goods and services in the market to the consumers. The business plan evaluates the all the conditions of the market so that its production of relevant products and services would take place in the Amazon. The budget is prepared in the business plan so the cost efficiency could be maintained and it also made it meet the competitive advantage in the market. The various strategies adopted for starting a new business has been discussed in this report.
The Skinny Dipis established in London, UK and deals in fashion accessories in London and various other countries. The company wants to achieve its desired goals by making its products to be sold online on Amazon. This makes it attract the customers and lead to having high profits in the organization. This is made to reduce its cost in an organization with the effective use of resources in the organization. The idea of starting a business online came to mind with the innovation that took place in digital technology.
The main objective of the Skinny dip it makes its products reach each and every customer or they get to know about the products and services that are made to them by the organization. It focuses on making a business plan for making its business online so that it can make its sale of products online on Amazon. Amazon has been the most visited site by the people so it makes it product to be sold on Amazon so that it can sell its products and services and earn high profits or revenue through online business. Its mission is developing an effective business plan so that it can make its business online and lead to effective utilization of resources and employees are made aware so that they can make their efforts in achieving its objectives.
Skinny Dip produces numerous qualities of products and services in the market so that it can attract the number of customers towards it. It deals in products such as bags, fashion accessories; I phone cases, chargers, pencil cases, etc. which makes them avail the satisfaction of the customers in the market. The products are sold over the world so that it can enhance its exports and imports of products and services. The organization focuses on selling its products online on Amazon so that it can attract high-level customers and lead to high export of goods and import of foreign currency.
The marketing planhas been made by the skinny dip so that it can identify the needs of the customers in the market and make its products and services in such a way that it can make them satisfied and increase their consistency in the organization. The marketing plan is made to evaluate the needs of the market so that it can produce the relevant goods and services which meet the competitive advantage in the market and leads to high growth in the market. The people are more focused on using the media for availing the products and services as the innovation in digital technology took place at high level. The marketing plan has been made by the Skinny dip so that it can sell its products and services online on Amazon and make the customers satisfied.
The changes that take place in policies and intervention of the government in the policy formulation of the organization affects the organization. The strategies and policies should be made in accordance with the political changes so that the working of the organization does not get affected.
The changes that take place in the currency rate or rise in inflation make the change in the purchasing power of the customers and adversely affect the profitability of the organization.
The changes that take place in the preference of the customers make the organization to produce those products and services which are demanded by the customers. This makes it change its products and services that need to be produced in future.
The innovation in the technology makes the organization to adopt the new techniques so that it can provide satisfaction to the customers and lead to high efficiency. The employees are made trained for the use of technology.
The changes that take place in the regulations and legislation of the government effects the organization for availing the products and services (Salerno, 2016).
The changes that arise in the climate of environment due to legal changes of seasonal changes, the choice of customers gets changed and the organization produces products keeping these factors in mind.
STP (Segmentation, target, positioning)
Skinny Dip sets its target market so that it can make the sale of those products on Amazon which satisfies its target market. This makes it build its positioning in the market by satisfying the target market. The target market of Skinny Dip is youngsters or young generation as they get attracted to the unique products and services in the market (Ko, 2012).
The strategy adopted by Skinny Dip for attracting the customers and making them satisfied is by producing and selling its products online on Amazon. This makes it have a high number of customers in the organization. The description of the products is also made clear to the customers so that they get attracted to its products and services. The cost of products is also reduced so that it can attract the customers in coming future and can meet the competitive advantage (Fouarge and Gijselaers, 2013).
Skinny dip takes other organization into consideration so that it can evaluate its positioning in the market. This made is to meet the competitive advantage by producing its products online on Amazon. The analysis is made by the evaluation of past records and data so that it can find out the number of customers that avail the online services (Frambach, et. al., 2013). The profits of the multiple organizations are also taken into consideration so that it can make it business online to be in the completion in the market. This has been done by analyzing the market research and getting the past records of export and import that took place in local markets and international market. Primary research and secondary research has been made in the organization for analyzing the completion of the market.
Numerous operations are taken up by the skinny dip so that it can effectively sell its products and services in the market. All the legal laws need to be adopted by the organization for making it business online on Amazon. Various promotional activities are taken by the organization so that it can promote its products and services in the market and reach to each and every customer (Blank, 2013). This has been taken into consideration after evaluating the use of social media by the people. This made it make its products to be sold online so that it can meet the needs of the customers and proper data of customers can also be recorded. This made it have provided the safe and secure transaction to the customers and their feedbacks are also taken into mind so that it can provide them with best quality products and services (Kolb, 2014).
The budget is prepared under Skinny dip so that the cost of adopting the plan would not lead to a loss of profits. To maintain the cost efficiency in the organization the budget has been made under financial planning. This has also kept in mind that it would get profits in coming future with the selling of its products on Amazon. This also makes them evaluate the import and export of the organization in various places so that it can improve its export of goods to various other countries as well (Bryman and Bell, 2015).
Cost of goods sold
Net operating income
The human resource has been kept at priority as they take effective steps for the achievement of the objective of the organization. The production of products and services depends on the human resource as they make the production of goops in the organization so that it can be sold out online on Amazon. This help in increasing the number of customers in the organization. The financial resources are also used in an optimal way so that the cost efficiency could be managed and profits could be earned (Catron, et. al., 2013).
The result has been ascertained after the adoption of the business plan in the Skinny dip so that it can take control action if any deviation found in the expected results and current result of the organization. The profits earned after the online business made on Amazon help in evaluating the outcome of the organization.
This is made to fix the risks that arise in the organization with the adoption of the business plan in the organization. This help in fixing up the gaps that arise between the current situation and the future outcome of the organization with the promotion and selling of products online on Amazon.
The business plan is made in a skinny dip so that it can promote and sell its products online on Amazon and lead to attracting the customers so that the efficiency in the organization can be achieved. This also makes it have high growth and survival in the market by meeting the competitive advantage. The innovation in the digital technology made the organization to sell its products online so that the cost can be minimized and profits can be earned.
The above report explains the business plan that has been made so that it can make the online sale of products and services in the market. This is done with the use of various Medias so that customers get attracted to its products and services. The above report also explained about the need for the preparation of budget so that the cost efficiency could be maintained and the resources can be used in an optimal way. The structure of the organization has also been discussed so that the plan can be made in an effective manner for starting the online business.
1.Blank, S., 2013. Why the leanstart-upchanges everything. Harvard business review, vol. 91(5), pp.63-72.
2.Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA.
3.Catron, J., Stainback, G.A., Dwivedi, P. and Lhotka, J.M., 2013. Bioenergy development in Kentucky: A SWOT-ANP analysis. Forest Policy and Economics, vol. 28, pp.38-43.
4.Fouarge, D. and Gijselaers, W., 2013. Effect of using a personal development plan on learning and development. Journal of Workplace Learning, vol. 25(3), pp.145-158.
5.Frambach, J.M., Driessen, E.W., Chan, L.C. and van der Vleuten, C.P., 2012. Rethinking the
globalisation of problem?based learning: how culture challenges self?directed learning. Medical
education, vol. 46(8), pp.738-747.
6.Ko, W.H., 2012. The relationships among professional competence, job satisfaction and career
development confidence for chefs in Taiwan. International Journal of Hospitality Management, vol. 31(3), pp.1004-1011.
FT 7.Kolb, D.A., 2014. Experiential learning: Experience as the source of learning and development.press.
8.Laudon, K.C. and Laudon, J.P., 2013. Management Information Systems. 13e.
9.Salerno, M.B., 2016. Drafting Legislation: Art and Technology of Rules for Regulation. Routledge.
10.UK digital strategy, 2017. The wider economy - helping every British business become a digital business. [Online] UK digital strategy, 2017. Available at: https://www.gov.uk/government/publications/uk-digital-strategy/4-the-wider-economy-helping-every-british-business-become-a-digital-business. [Accessed on: 18 December 2017].