JBT Task 1
Task: Develop an online business expansion proposal:
1. Viability of the product or service that the business offers in an online environment.
Mama Mimi’s Baby Shop is a start- up online store which supplies handmade items for expecting mothers and fathers, grandparents, and extended family and friends. The merchandise in the store ranges from crib sheets and receiving blankets, burp pads and bibs. We also have a wide range of pocket diapers. All items made are from organic fabrics. Mama Mimi’s will work with your interior designer to customize your nursery. All of this can be done from the comfort of your home. We ...view middle of the document...
It is also the key to the customer base. My goal is to serve the baby/toddler market with quality handmade nursery items. For the company to become viable and continue to grow, I must increase my market. Due to the Mama Mimi’s being located in a small, rural area, I have realized that the local market is saturated. I do however receive requests via email and on Facebook from family and friends of family that have seen my products. Products have already been shipped all over the United States and overseas. When orders started coming in from all over the world, I realized that I had something that was desired. I realize that this company and product would be totally viable in the world of Internet shopping.
After much research information was gathered regarding my target market. This information will be used to better understand who I am serving, what their specific needs are, and how Mama Mimi can better serve its customers. Below lists the demographics of my target market.
1. New parents
3. Family of expectant and new parents
My market demographics consist of the following geographic and demographic.
* Mama Mimi has no set geographical region. By using the expansive reach of the Internet the boundaries are limitless.
* My total targeted population in my first year is 1000 customers.
* The target customer is female
* Between the ages of 24-60. Clustering around child-bearing age.
* 75% will have an undergraduate degree.
* The median income for website users is $52,000.00 per year.
2. Current Online Competitors:
While researching for offline/local companies which would be in competition with me, I discovered that there were none within a fifty mile radius. This in itself makes Mama Mimi’s a unique business. The online market for organic baby items is growing each and every day. Shoppers are able to go online and look for items any time day or night. In a recent report, it was noted that 41% of highly satisfied customers will continue to shop online and revisit previously viewed websites for products. 50% will more than likely purchase additional items when pleased with their initial purchase. Knowing that the usage of online companies will continue to grow, an online presence is necessary to meet the needs of ones customers. Customers in the offline world are limited in the hours they can shop, limited in the items they can purchase and do not have the flexibility of comparing similar items from a variety of different vendors.
It is often necessary to compare one website with another. This is needed to judge how strong your website is against your competitors, what site is best for you and your business, what types of application that can be used, and the class of website. I have compared three websites. The first is www.blessingsoverflowing.com, the second is www.somewhatsimple.com,...