Business Plan for setting up an e-commerce site Coursework

Business Plan for setting up an e-commerce site - Coursework Example Government incentives to prep up this technology and support programmes to reach a larger customer base have paid dividends. (Payman, Rosemario et al, May 2006) 3. Social factors like the willingness of the both the newer and older generation who have embraced this technology and have asserted themselves in becoming computer literate. (Zorayda Ruth Andam, 2003) 4. Economic factors where higher GDP growth has lead to higher incomes have provided incentives to people to look for alternative shopping options. Innovations in banking like net banking, debit card and credit card banking have also helped customers to try out this area of virtual shopping. (Payman, Rosemario et al, May 2006) With these infrastructures in place the idea of a online site for quality paintings seems to be a workable proposition especially since the market for interior decoration is booming and there are people who, similar to gold are willing to invest in painting as they see it fetching them an exponential ret urn should they plan to sell the same in the future. Marketing Concepts for the e-commerce environment and the use of social networking sites Some of the different models of e-commerce used for marketing of a product include B2B (business-to-business), business-to-consumer (B2C), business-to-government (B2G), consumer-to-consumer (C2C) and mobile commerce (m-commerce) 1. In the B2B model, businesses sell their products to other businesses. This model of marketing forms a significant chunk of the e-commerce market. (Zorayda Ruth Andam, 2003) This employs techniques such as e-distributor where a company hosts products viable for use in different businesses. 2. In the B2C model, the business transaction takes place... Business Plan for setting up an e-commerce site As a business plan, the idea is to introduce a segment that would target a niche audience as well as create a platform for others to showcase their products on the website. I plan to develop a website that would cater to the lovers of art and painting. As part of my research I have found that there are limited areas where true connoisseurs of art are able to purchase quality painting or works of art. In cases where an actual physical auction takes place, some buyers miss the event simply due to their ignorance regarding the sale or they are not able to make it to the event due to prior commitments. The idea of such a website is that information regarding the best pieces of art that are up for sale are sourced from various countries through a ground network and these works are actually showcased in this website. A minimum price is fixed along with a cut off date so that art lovers can place their bid by the closing date. After the closing date & time, the piece would be shipped to the customers shipping address provided in the transaction using the services of a reliable courier like Fedex. The money after taking a percentage cut would be transferred via net banking to the creator of the artistic piece. A robust infrastructure has already proved to be quite effective in the rapid growth of e-commerce.The business plan draft required in this assignment is a form of C2C commerce wherein a website designed by me shall act as a platform for online auctions for products related to paintings and other crafts.