E Business Option for Sweet Treats
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You own a bakery named Sweet Treats, and you are faced with an interesting dilemma. You have inherited your grandmother's low carb, low sugar, low sodium and low fat recipes that she modified to accommodate her diabetes. Neither you nor your family could tell that her creations were not high sugar gourmet style and word of her delicious treats spread throughout the community. You recently left your job to produce and sell these delicious creations to the public, caterers, and restaurants. Recently, a restaurant chain approached you to supply all of their locations. They also suggested that you could attract more customers and operate your business more effectively if you creates a website, advertises, and sells his "treats" on the World Wide Web.
You have business experience than and need to investigate this opportunity. Starting an e-business, or expanding a current business into the Internet, involves as much planning and risk as starting or expanding a traditional business. Some of the things that you have to consider include:
? The cost of the technology.
? The design of the website.
? The marketing strategies you will use.
? The choices of what to sell and how to sell it over the Internet.
? The advantages of online communication with customers and suppliers.
? The risks of doing business on the Internet.
You start exploring alternatives and seek the advice of experienced e-business professionals. There is a lot to learn, and you have heard many stories about people who have started e-businesses (or traditional businesses) and end up failing because they did not have or follow a solid plan.
You will strive to understand some of the basic principles of e-business in addition to understanding traditional business strategies so you can make wise choices as you bring your brother's business into the Information Age. The varieties of tasks you will pursue are the development of an e-commerce plan, the exploration of different technologies that are used competitively in e-business, Internet marketing strategies, security, and ethics.
Questions and the Internet.....
? Describe the new business environment that Sweet Treats Face will face online, discuss issues such as the current market, potential customers, the competition, how Sweetperform a SWOT analysis, etc
? What e-business model(s) would you suggest that Sweet Treats use and why?
? Describe several B2B technologies and applications that Sweet Treats could utilize as part of an e-business strategy.
? List some security concerns that Sweet Treats should address as it considers how to develop a web presence. What are the risks? How can they be lessened? Are you confident that the Internet is secure enough to handle these transactions for Grandma's Treats or other more information-sensitive businesses?
? Analyze the future of doing business on the Internet, where do you see the internet in 5 years, 10 years etc.?
? As a wrap up:
o Summerize the concepts that you learned this session,
o What did you learned that you did not know before taking this class?
o How has what you learned benefited you currently and how will it benefit you in the future?
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Solution Summary
You own a bakery named Sweet Treats, and you are faced with an interesting dilemma. You have inherited your grandmother's low carb, low sugar, low sodium and low fat recipes that she modified to accommodate her diabetes.
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Introduction
Our Sweet treats bakery was started by my Grandmother. This sells low carb, low sugar, low sodium and low fat recipes and has become very much popular. Now the demand is coming from many parts of the country and internationally. We are thinking of launching the comprehensive ecommerce strategy of our venture in order to cater to the worldwide demand of our sweets.
Environmental analysis and SWOT analysis
Socio & Economic Factors
One has monitor the economic trends like GDP trends, Interest rates, Money supply, Inflation rates, Unemployment levels, Disposable income. It has to identify the growing target segment and introducing new products and services to meet their needs.
They have to provide convenience, quality, speed and top notch products and services
to attract new customers and to retain the loyal existing customers as well. In today's modern and fast-paced world, people are constantly looking for ways to help them better manage their time. People strive to make their life better, and this home based shopping has the potential to fulfill all of these needs. Thus there is opportunity in targeting busy individuals who don't have the means, energy or time to visit the physical sweet shops.
Political Legal regulations
As an organization it should also be aware of economic, tax and business laws. One should also be aware of foreign trade regulations, attitude towards foreign companies as it want to internationalize the operations
? Alliances
There is lot of opportunity for the alliances with the manufacturers, retailers, suppliers and other websites.
Technological environment
Ecommerce or internet Marketing is an important method of passing information to clients as they would like to be fully informed as can be seen in their insistence on brands. Thus this is an important use of technology in marketing and this adds value to the aims of the marketing organization, which would like to sell more and more.
When the Internet is used, there is no requirement for any gap and one can get an order from the customer directly. What this means is that when a customer becomes interested through an advertisement for say a sweet pack, the customer can be requested to click on a sign near the product.
This will move the customer to another site where the customer will get more knowledge about the product. Then the customer also has the liberty to buy the product and the entire process from interest to purchase may be completed in very little time. (Internet Marketing Basics) It is clear that one of the most obvious results of improvement as a result of Internet has been in the areas relating to customer communications. This has made firms that were always working in a mass market situation now try to understand in situations that may be called "one to one" marketing. In Internet, one always tends to have contacts with the customer directly across the computer screen. The result is always that there are evolve several forms of direct exchanges between the client and that of the organization which takes out marketing. This makes it easier for the marketing organization in order to understand the mentality and the understanding of the client and at the same time learn regarding how to talk to the client in such a manner that will make him to purchase the product of the organization. It needs to be noted that this is not just a once in a lifetime event, but it tends to happen regularly. It is well known that communications which take place over the Internet are one of the cheapest types of communication. (Database marketing: Technology-enabled advantages in the nineties) Moreover Using Internet has following benefits:
* The Internet has a geographically disperse market.
* The main benefit of the Internet is that niche products reach a wider audience e.g. Scottish Salmon direct from an Inverness fishery.
* There are low barriers low barriers to entry as set up costs are low.
OPPORTUNITIES
Economic development of Asia and other developing countries
Trend of consumerism and online ...
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