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E-Business Prototype Assignment Help
This e-business prototype assignment help report studies about "Fashion and you” a website that deals into Fashion clothing. Furthermore, this website deals into western dresses and ethnic clothing also. Thus, the website is catering to the needs of both western and traditional consumers of the country.
This report further studies pattern and market analysis of the areas which will aid designing marketing strategy for the website. Additionally, the report depicts the environment analysis (both macro and micro) of the country and the forces affecting the success of the business.
This report is concluded with a description of all the activities adopted to make this website achieve its present position.
Group project reflection
The project aimed at building an e-commerce portal for selling of cloths. The e-commerce venture portal would be a step in boosting the business as it would help the business in reaching out to more customers. The initial task in the project was to decide upon the business model which would be used for building the portal. Business to consumer (B2C) e-commerce model would be used in the project as the business would sell clothing and fashion products to the consumers directly. The major decision was about deciding the design of the website. Focus was on developing a website where the user can conveniently select the products and can do the payment. The products listed in the website have been divided into categories and sub categories so that the consumer can select the product from the category rather than searching the whole website. The website has been designed in a way that the users can also use the website on mobile. Before the development of the website, stakeholder analysis and the environment analysis was done so that the perception and expectations of stakeholders and environmental forces driving the business could be identified (Kerin and Rudelius, 2001)
Brainstorming was also done to select the appropriate payment system which is secured and has the confidence of the users. Third party payment gateway integration was used and the customers can pay the money using credit/debit cards. Other payment methods can be integrated to the portal in the next phase. The group has also focused upon the risk planning for the project and identified the risks and a mitigation plan was developed.
Resources for designing business website
Website development process
By using the online templates website has been developed for buying and selling of fashion products like clothes. Templates were chosen as these could be changed and modified according to requirement as per the current trends. Joomla will be used for the development. The website has two types of interface, one is the website which will be accessed by the customers and another is web admin console which would be used by the administrator.
Components and features
A website needs to have features and components that can offer the products and services in innovative and creative manners that attract the online users. For modification and adding the features in e-commerce site, HikaShop tool can be used. The tool provides the administrator convenience to add the products. The admin can categorise the different products into categories like cloths, accessories which would provide customers the convenience to select the product. The feature would help in improving the customer experience.
The e-commerce portal required choosing the template. The template was selected and was customized for meeting the requirement of the fashion portal. In future several improvements can be done which are as follows:
- A bidding module could be introduced where a product could be bid by several customers (Nissan off, 2006)
- Customers could be provided with a three dimensional view of the product which will allow the customers to view the product in better manner.
Prototype is basically a sample or model being designed prior to the introduction of any product or technology. It is a substantial representation which is utilized to demonstrate the authenticity of the design and the concepts of the process of developing the newly planned product. Prototype could be a handmade model being utilized to demonstrate a new idea to the investors or the contemporaries and could also be a detailed and fully equipped presentation of an elaborated conceptual design depicting the same as would look and work in the real life. The present report is been carried out to develop an effective prototype solution for a fashion store planning to introduce its products in the online market. The major objective behind this initiative is to develop a successful prototype through which the clients or investors could be impressed. The report would also be identifying the relevant aspects to the organization which would support in developing the same (Curty and Zhang, 2013).
It has been identified that there is an immense scope at the online sources to come up with the innovative ideas and explore the business at online platform. In the present times, e-shopping has entered the homes of general public and had covered a large segment over the sources. Every businessman is planning to have an effective website stating its products and services and making the products and services more profitable and improved. Furthermore, it would also be recognizing the elements of the website “Fashion and you”. With the help of this, an action plan would be made and the report would undergo with a risk analysis in order to estimate the risk over the prospective project and the future outcomes.
E-business is growing popular among buyers and it has done a remarkable expansion in field of fashion. E-shopping is not all about gaining from offers but it considers other variables also. That is why buyers are accepting the e-shopping with open heart. The reason behind popularity of e-shopping is that it is quick, buyers have more choices, they can shop anytime and they can compare prices and features of the product. This report also studies one such e-shopping website ‘“Fashion and you”’ and tells how ‘“Fashion and you”’ has efficiently used internet to sell. It also suggests the benefits of e-shopping for both buyers and dealers (Neubauer.et.al, 2014). The whole concept is about selling the product in immaterial or virtual form and consumer can just shop by sitting at any spot. It is also not necessary that the buyer and dealer of product belong to same city. So, let’s investigate the e-business of Fashionandyou.com and study the key forces effecting company’s strategy.
B2C website advantage
The aim of developing the website is to directly connect with the customers and offering them best products and services through secure and easy process to buying and selling. The website “Fashion and you” is being made by focusing on the B2C approach and customer oriented functions. It has good capabilities for transaction, faster process, lower cost, unlimited market place for shopping and superior uniform user experience that has positive impact on target customer groups. This website has all B2C features that make it quite competitive and secure to use and buy products. Additionally, it has functions like voice of customers, chatting functions and easy navigations to provide more convinces to users.
Innovation in any business is fruitful and proves as strength if we have a successful story. In this era of e-business, the principle thing is what strategy you will use to look different from others. At present, the e-business is facing less challenges in setting-up business than it used to be in earlier period. It has broken the traditional idea which required physical presence of goods to be sold. Today, for a website to be successful it requires to be appealing to attract a large number of social consumers and analyze the present trend in business. The website has to compete with its rivals by maintain quality and giving quick response to consumer. It is beneficial for consumer to e-shop as it provides more alternatives, consumer can compare products over price and features, and it is easy to use and transparent (Don, Stanely, and Robert, 1993).
One of the reasons of e-shopping growing popular is the increment in the per-capita income of people. This increment increases the expenditure pattern and lifestyle of people. The people have now become capable of using internet as a source to shop. Additionally, shopping via website saves the transportation cost of the buyer. In terms of storage and transportation, it is beneficial to dealer also as there is no need of building a warehouse to store the physical goods (Nguyen.et.al, 2014). Moreover, with improving GDP the lifestyle of whole nation and population is improving. The money is not a barrier in buying or selling goods.
A person’s decision, response or purchase behavior is affected or guided by his social background. Furthermore, the social background of an individual revives remarkable consequences for the shopping design of a client. In such situations, an informal communication provides an acceptable action (Eisingerich and Kretchmer, 2008). In general, it acts as a base to accept or reject a thing. Informal communication helps a buyer to clear his thought and make a purchase decision.
E-shopping provides a global platform for buyers and sellers to trade. The question of being legitimate comes under the situation when a trade happens between two nations. In such case, the company has to take care of laws related to shipment, customs, etc (Miller, 2002). It is self-understood that the company has to abide by the trade practices in a business.
In order to design an effective website for the fashion world it is very important to focus on some of the critical aspects like information of the offerings, the design must be responsive, qualitative images and features of the product brand, the details about the return policies, etc. There must be clear details about the products and the related aspects such as price, brand, features, varieties, etc (Curley, 2015). This assists in gaining trust of the prospective customers over the website. The website of “Fashion and you” must in such a presentable way which could attract more and more customers towards it.
The best thing for any e-business website is that it evaluates and reviews itself and makes improvement before the reactions of buyers. It is very important for the company to develop a technique of its own and stand as a unique brand in business. This suggests that the brand image of the company should be clear in mind of consumers (Goswami, 2015). The perception of consumer for the company should be the same as the company wants it to be. The objective of the company should be to create a business design which is beneficial to consumer and company at large.
Some of the techniques that “Fashionandyou” can adopt to attract customers can be discount offers, prizes, free conveying, etc. These schemes will alter the decisions of a consumer who is already planning to purchase some fashion stuffs. These discounts will convert their plan into action. There are certain customers who do not prefer to purchase via website it is because of lack of trust. To attract these customers and gain their trust company can offer cash back or refunds on purchase. It will create credibility of company among customers. There are many more strategies to attract customers like exchange offer, prizes, etc. The most highlighted scheme among the e-business is to procure back the sold item as in e-business the customer lack the chance of evaluating the product physically (Kesseler, 2003). By having a chance of returning the product if customer did not find it suitable, the customer is encouraged to take a chance of purchasing online . Additionally, the process of returning back the item is also simple and easy.
The core strategies adopted by “Fashion and you” are- low assess, discounting in less common occasions and to act differently from other sites. The company has decided to keep the charges low to provide the customized and needed things to customer (Chaudhary and Jean-Pierre, 2002). It is significant option and the company is not being calculable while doing business. Apart from this, company offers discount on those uncommon occasions when other sites are not offering any scheme. When the competition is aggressive, “Fashion and you” has adopted the differentiation strategy i.e. to stand different from other.
Market examination and Pattern
There is not a lot of study done in the field of fashion. But still an inside investigation of “Fashion and you” can be done by using tools like ‘SWOT Analysis’ and ‘Porter’s Five Force Model’.
‘SWOT Analysis’ of “Fashion and you”
- Strength: The company is catering to the needs of both western and ethnic tastes of people. Thus, company has covered all the areas of fashion.
- Weakness: There are a number of companies which are catering into fashion via e-commerce. As the company is dealing only into fashion, its scope is limited. Moreover, it is difficult to create own brand in field of fashion.
- Opportunities: There is a wholesome of opportunities to diversify in the field of fashion. Additionally, the company can build an idea in the mind of the client to diversify.
- Threats: The entry of MNCs in field of fashion is a threat for “Fashion and you”. Additionally, it is difficult to identify and categorize the customer into western tastes and ethnic tastes.
Porter’s Five force Model
- Buyer’s Power: At present, there are number e-commerce sites for fashion which are catering to the needs of consumer. Thus, consumers have alternatives and can make choices depending upon which site is fulfilling its need (Karin and Rudely, 2001). The buyer’s power is more. In such situation, “Fashion and you” should stick to its strategy of providing the needed things indicated by customers and should frame such more strategies.
- Supplier’s Power: In case of fashion, suppliers have more power as they have vast channel of distribution and are more familiar with business practices. Additionally, the switching cost for supplier is low and the bulk order is important for supplier.
- Rivalry among competitors: “Fashion and you” is not the only company in industry offering such services. Additionally, it cannot compete on price war as it customize and alter things on the demand and choice of customer. Thus, the cost of service rises.
- Threat from substitute: In today’s competitive era, n number of alternatives and choices are available with consumer. In case of fashion also substitute of online retail shopping is available with consumer (Miller, 2002). The consumer can choose to buy offline and reducing the chances of mistakes. There is a threat of loss of good in passage in online shopping.
- Threat from new entrant: The investment cost is higher in brand building and advertising in fashion industry. Thus, the threat of new entrant is less here.
2.0 Strategic Objectives
The key objective for “Fashion and you” can be:-
- Developing a strong brand image in business
- Satisfying the need of customer
- To follow low charges method
Pitching to investor
Every company requires investor to capitalize its resources. Hence, the company should have a well-designed strategy of growth to attract investors as every investor prefers to invest in a profitable venture. Why would any investor invest in other’s venture? Capital investment provides return to the investor and the company can capitalize its resources with the help of this fund. But it is also important to persuade an investor to invest in your business. It requires a lot of homework and a well planned strategy to attract the investor.
In a fashion industry, it is important for a company to look different from others. To fulfill the same purpose, “Fashion and you” requires having a strong public relation management. To present a brand in a market place is quite an influential thing. It helps consumer to relate with it and identify it. It helps in creating credibility in customer’s mind and provides brand loyalty from customer in return (Miller, 2002). It is basic tendency of consumer that he lacks trust in buying something about which he lacks knowledge and prefer to buy a familiar product. Thus, “Fashion and you” can use various strategies to reach to its customer, get its message clear and create a brand image in customers mind. Some of the strategies to reach customer can be trade fare, fashion show, etc.
Two way communication method of advertising
The best practice to place a product in front of end consumer is advertising. Through advertising, a company can communicate its message to the target consumer. The best option is having a two way communication with the target customer (Koichi, 2009). It will help company to get a feedback readily and to act quickly to the feedback of consumer. It helps in developing credibility among consumer by providing quick response.
3.0 Key Partners
The key partners for “Fashion and you” are as follows:
A purchaser, buyer or customer is the first key partner in any business. In case of e-shopping in fashion, a customer is readily attracted to any scheme. But the strategy should be reliable to customer.
In case of e-business in fashion, the producer acts as supplier. Both the supplier and the company have to maintain a strong relationship with one another to ensure business. Both of them require credibility in business as supplier has to expand its business and sales and the company has to retain its customers.
Creative team or sales team is the most important partner of e-business. They are the star members for both company and buyers (Molla-Descals.et.al, 2014). They create the base of suppliers who upload their product for sale on website. More the number of suppliers more is the choice with buyer and more is the profit with the company.
Fashionandyou.com must abide with all the authoritative measures and legal regulations which are required to run a business. A “Fashionandyou” promise that is not breaching any law while catering its services to customers.
The organization itself is an important partner of the company. It comprises of the human resource of the company. This HR designs the policy and strategies to enhance the sales of the company.
4.0 E-commerce plan of Action
“Fashion and you” has not adopted an aggressive strategy to present it and reach to end consumer. Every advertisement is payable and a cost to company so company must try to reach as many customers as possible within the same cost. It is all about the mechanism company is following to promote itself. “Fashion and you” can make itself visible as a banner in other popular and social websites.
It is important to know that a strategy can be framed in business after preparing a concrete aim and objective (Nissan off, 2006). It is equally important to prepare an action plan to fulfill the aim and objective so formed.
The following steps can be taken for the same purpose:
- Check the resource availability
- Set a realistic time frame
- Prepare, assess and evaluate the action plan
5.0 Potential Risk Analysis
Every business is exposed to some kind of threat or risk. In this section, we will discuss about the potential risks to which “Fashion and you” is exposed. “Fashion and you” is exposed to risks or threats like stock madhouse, advancement, etc. The deviation between expected and achieved in any business can be a threat. The external factors also affect the business and company has to keep pace with the changing environment to sustain in the market (McCormick and Livet, 2012). Fashion is generally related to women. But “Fashion and you” should cater to the need of all, i.e. kids, men and women. All the categories should be given equal priority. “Fashion and you” should also maintain the balance between ethnic and western wear segment. These are the important issues in fashion segment.
By the analysis and observation of website it is being recommended that developer requires adding combination of intelligent search and navigation for users for more convinces and less time consuming activities. Additionally, improvement in the offering of personalized services also help to attract the customers and retain them as management will able to provided information about the products, prices and sachems according to interest of customers. For a good e-business website functions like specification of products, range, follow-up of users and online assistance is being more important to sustain in the market. Hence, it is been suggested to “Fashion and you” to add online chat and assistance services and specification of product and services to convert online visitors into customers.
The fashion industry and specifically “Fashion and you” is analyzed under the light of factors like buyer, supplier, and government, substitutes which affect the business directly or indirectly. We can summarize the analysis as every business including e-business should create its own identity. The key partners and other segments suggest that the “Fashion and you” must frame a technique to timely analyze the business studies environment to keep a track of opportunities and threat. It has been concluded that the prototype was successfully developed and had proved to be effective. It has been found that with an attractive and full featured website, the Fashionandyou could achieve high expansion and profitability over it. The prototype is been developed with the thorough researches and proper focus on the basic objective.
It has been revealed that fashion websites could be successful only if presented in a better way. It has been suggested to implement the model with new innovative ideas and concepts which would surely magnetize the viewers, for example, the visual effect in the images or the use of vibrant and soothing colors which makes the viewers delighted with the products and services over online sources. The developer of website must observe the features keeping in minds the perception of a common consumer like detailed information, features or the products, free shipment, easy return procedures, etc.
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