This is a pitch about an online reselling business that focuses on providing clients with items and materials such as clothes and bags.
Online Reselling Business
The focus of the pitch is to present a business idea for my online reselling business. The name of the business is Door-step online reseller, a new organization in the marketing sector.
The business concentrates on selling various materials and products, including clothes and bags, from different suppliers. Furthermore, the business avails a variety of commodities to clients in one place.
Delivery services are provided by the organization; therefore, customers will find it convenient to shop with the Door-step online reseller.
The local community, suppliers, and customers are the identified stakeholders for this business idea. Every stakeholder influences the company’s actions since they will get involved in the decision-making process.
Vision and Mission of Business Idea
The vision of my business is to become Indonesia’s and the world’s most customer-centric organization that aims to establish an area where individuals can come to locate and discover anything cloth or bag they might want to purchase online.
The vision is important to the business since it acts as a strategic plan for effective management. Moreover, the vision serves as a worker’s guide to motivate their work toward a common target.
The mission is to provide service to clients through online and physical outlets while concentrating on product alternatives, price, and customer satisfaction.
The mission encourages the staff to consider that their activities may affect future business performance and a healthy corporate culture.
Introduction to the Team
For a business to be successful in its operations, it requires a team that works tirelessly to see the company meet its objectives.
The Door-Step online reseller business will have a team that includes market researchers who identify the target markets and help increase customer convenience. Having a team leads to better outcomes due to the collaborative solving of problems (Hall et al., 2018). The impact of teamwork in management cannot be underestimated due to its numerous positive effects.
Individuals are more likely to accept evaluated risks, thereby leading to new and effective ideas when they have the support of a team at their back. Moreover, having a team encourages professional growth and reduces work-related anxiety and stress.
Global Market Size and Growth Rate
In three years, the revenue of the company is approximated to be more than thirty million dollars.
The revenue will be a result of an increase in online purchases due to the outbreak of the coronavirus. Customers have turned to online shopping compared to in-store purchasing, and this will see a high growth rate in the business.
After capturing the local market online purchase clients, the business is expected to move internationally. A strong local foundation can enable the business to enforce global market strategies allowing it to compete internationally.
The employees will play a crucial role in going globally since they will identify a particular client need the business can meet and develop a marketing strategy around the single idea.
Revenue of resale of clothes through the online platform from 2002 to 2025.
Strategy or Approach
Marketing strategies are employed by businesses to collaborate and engage with the targeted customers. The appropriate marketing strategies fuel the growth of organizations; thereby increasing profits.
In addition, the market approach informs the clients about the specifications, benefits, and features of the organization’s materials and products (Kalogiannidis et al., 2020). The proper approach is essential in solving various customer awareness issues.
My business will use various marketing strategies in developing and approaching the market. Sharing and promoting the items and materials on the internet on different platforms through many approaches and ensuring they cover the many aspects of belief, views, and cultural needs.
The goals over three years are to innovate new solutions that make purchases cost-effective, fast, and better for clients.
Value Proposition
Value propositions are part of an overall marketing strategy and are the values that business owners promise to provide to clients when they select to purchase their goods.
The proposal is a simple explanation of why a consumer should purchase a service or product from a certain company. A value proposition must precisely describe how a merchandise meets a need, articulate the characteristics of its additional advantage, and illustrate why it is superior to competing solutions.
The business will be based on three value propositions, including broad selections of materials, low prices, and fast delivery. The value propositions result in customer satisfaction and quick growth of the business.
Furthermore, the greatest value proposition will be comfort since clients can make purchases and access the catalog of various materials using a gadget that is connected to the internet.
Value proposition plays a crucial role in the overall marketing strategy.
The proper value proposition positively affects the brand’s name, increases product awareness, and provides a good experience to clients.
Operational Approach
There will be a continuous enhancement effort in the company’s online business as its operations management approach.
The operational approach is regarded as the most current and successful method of management.
Management at the Door-step online reseller will include a variety of accountabilities and activities, and it is via these duties and responsibilities that the organization’s accomplishment will be achieved. These roles and functions include budgeting, leadership, communication, staffing, and coordinating, among others.
The organizational culture of the business will uphold innovative suggestions brought up by the personnel. Moreover, the staff will be encouraged to be open, bold, and pioneers in establishing new proposals to tackle challenges and boost the business.
Profit and Revenue Model
The mode of payment of the business will be through all extensive credit and debit cards. The cards include Mastercard, American Express, and Visa.
In addition, there will be other payment options, such as paying by the invoice, which allows clients to buy materials on credit. Through the sale of clothes and bags, the Door-step online reseller will generate revenue and make profits.
Payments made on delivery will be available and will be paid either using cash or through a short message service of the company’s pay link. The delivery cost will be placed at a value that the organization does not experience any loss.
The amount paid for delivery will vary depending on the weight and size, with the low cost of delivery being four dollars.
Competitors
The online retail sector has many big players that make the industry competitive. The major competitors include Amazon, Alibaba, eBay, and Walmart.
However, to effectively compete in this sector, it is crucial to meet a need or gap in the market that the other businesses have failed to address. To compete effectively with the bigger companies, smaller and new organizations need to focus on the basic consumers allowing for prompt sales and more revenue.
Door-step online reseller aims to meet the focus gap since the majority of online reselling companies’ sales practices benefit the company and not the customers.
The business will focus on client-centric activities by providing them with quick and accurate information, listening to client needs, and providing the clients with options for payment.
Meeting the customer’s needs helps businesses compete favorably with big competitors in the sector.
Risks or Barriers
Conducting business is accompanied by various risks that affect performance and require effective strategies to solve the barriers.
Internal risks to the company will result from online security threats such as spam mail and hacking that would compromise clients’ personal information. The best strategy for this risk will be to frequently update the online platform’s operating system and employ a robust system.
The major external threat the business will is competition from other related organizations that have established themselves and have a solid client base. The strategy to mitigate the competition risk is to focus on the new market, have all data in a single place, and allow for customer feedback.
Financial plan
Door-Step Reseller financial plan over a period of three years.
A financial plan showing the amount of capital investors should put to start the business idea.
The usage of the funds are displayed in the table and over three years; 2022, 2023, and 2024.
References
Hall, K. L., Vogel, A. L., Huang, G. C., Serrano, K. J., Rice, E. L., Tsakraklides, S. P., & Fiore, S. M. (2018). The science of team science: A review of the empirical evidence and research gaps on collaboration in science. American Psychologist, 73(4), 532- 548.
Kalogiannidis, S., Melfou, K., & Papaevangelou, O. (2020). Global marketing strategic approaches on multi national companies product development. International Journal of Scientific Research and Management, 8(12), 2321-3418. Doi:10.18535/ijsrm/v8i12.em08