Assignments for 9 October
- What is your mantra?
- What is your business model?
- What is your competitive advantage?
- Complete your SWOT Analysis
- What is your strategy?
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· Mantra – ‘Life is Good’
· Business Model
Start a business by using internet technologies to do marketing of products of companies.
The following is a list of elements of the business model:
Customer Selection | Consumer |
Value Proposition | Product Accessibility |
Differentiation and Control | Wide scope of products |
Scope of Product and Activities | Very broad |
Organizational Design | Low, flexible and control costs |
Value Capture for Profit | Wide range of products |
Value for Talent | Learn, grow and prosper |
· Competitive Advantage
Product selection
· SWOT Analysis – Strengths, weaknesses, opportunities and threats
SWOT analysis: the creation of internet marketing company to market products of companies | ||
Strengths · Right products, quality and reliability · Direct delivery capability · Product innovations ongoing · Have customer lists · Can serve from existing site · Products have required accreditations | Weaknesses · Customer lists not tested · No pilot or trial done yet · Customer service staff need training · Don’t have detailed plan yet · No direct marketing experience · We would be a small player | |
Opportunities · Could develop new products · Profit margins will be good · Could extend to overseas · New specialist applications · Could surprise competitors | Threats · Existing core business distribution risk · Vulnerable to reactive attack by major competitors · Legislation could impact · Possible negative publicity | |
· Strategy
Four common types of strategies are differentiation, cost, combined differentiation and cost, and niche.
My business will distinguish itself from the competitors by using the combined differentiation and cost strategy.
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