IT Management assignment help report analysis on: E-business strategy in business

Q?? Write a report on E-business strategy in business??

Executive Summary

The project explains in detail the study conducted for developing a e- business strategy for the company. The strategy largely focuses on the various means and mediums involved in the expansion of the business by the usage of e-marketing and also relevant strategies required for the growth and development of the business while protecting it from the potential risks largely the outside influences. The study does a detail analysis of the various scenarios which are for or against the growth of the business and the sustainable development in the future. Also the report provides a detail analysis over the particular range of products, there growth and marketing strategy. The complete analysis of the business and market alignment projects the desired results over any issue that needs to be considered by the business. by the report the e-marketing strategy for the business is clarified.

The project focuses over the marketing strategies used by the store in order to increase its client base, increase customers flow in and out and also understand the needs of customers with regular feedback sessions. The e- marketing strategies regarding the same proved highly beneficial for Teh Company and helped it grow its business. The online ordering system and the e-feedback concepts increased the understanding over the business needs, customer preferences and thereby help in formulation of strategies for future growth and development of business. The essence of the paper is related to these concepts only.

Introduction            The project is designed to understand how the Freshworks retails store used the online requests and proposals and also the marketing ideologies for the growth and development.

The project explains in detail the study conducted for developing a e- business strategy for the company. The strategy largely focuses on the various means and mediums involved in the expansion of the business by the usage of e-marketing and also relevant strategies required for the growth and development of the business while protecting it from the potential risks largely the outside influences. The study does a detail analysis of the various scenarios which are for or against the growth of the business and the sustainable development in the future. Also the report provides a detail analysis over the particular range of products, there growth and marketing strategy. The complete analysis of the business and market alignment projects the desired results over any issue that needs to be considered by the business. by the report the e-marketing strategy for the business is clarified.  The formulations of the marketing strategies by and large depend on the intensive research conducted over various areas of influence and the effects are measured and analysed accordantly (Walker & Smither, 1999).

 The paper describes how the company started the e-marketing application and how it achieved a level where it formed a remarkable position for business and its smooth functioning. It focuses over the marketing strategies used by the store in order to increase its client base, increase customers flow in and out and also understand the needs of customers with regular feedback sessions. The e- marketing strategies regarding the same proved highly beneficial for the Company and helped it grow its business. The online ordering system and the e-feedback concepts increased the understanding over the business needs, customer preferences and thereby help in formulation of strategies for future growth and development of business. The essence of the paper is related to these concepts only. The paper describes the use of social media as e-marketing strategy for spreading its business. It describes how social media helps in growing the business and its brand image. The use of social media provides opportunity for addinghuman element to the business or product, it allows engagement with customers directly but informally while hanging out online, it is simple to do once and approachable, increases traffic to the website, create buzz around the website, product or service or brand, create inbound links to the company website for the search engine ranking benefit and also creates loyalty and trust amongst the customers. The detailed application of these help the company market it products effectively. E- marketing proves to be one of the efficient means of marketing product to the appropriate customer base.

Company ProfileFreshWorks is an independent, organic supermarket. They source the freshest fruit, vegetables bakery and packaged produce from both local and international retailers.  The supermarket has 5 outlets across Melbourne and Geelong, and returns a good profit due to their unique niche in supplying organic produce to the general public.  The company recently conducted a risk analysis and found their competitors, mainly Coles and Safeway have added more products to their organic ranges,   and were selling these at lower costs than Freshworks.Each store uses an independent, computerised inventory system which services one store alone.  FreshWorks believes the current system is the reason why sometimes stock goes missing and no one knows where it went!  FreshWorks thinks it might make more financial sense if all stock is purchased by the company and then the company distributes stock to the individual stores.  The company would like to investigate implementation of a central inventory system that all stores will access (Sparrow &Cooper, 1998).

Proposed Business Solution

Fresh works when started operating on the internet along various people as it proved to be one of the new retailer in the world offering a robust services. Grocery sales are available within delivery range of selected stores, goods being hand-picked within each store. This model, in contrast to the warehouse model initially followed by various competitors.Few companies used the internet only supermarket Ocado, allowed rapid expansion with limited investment, but has been criticised by some customers for a high level of substitutions arising from variable stock levels in stores. Nevertheless, it has been popular and is the largest online grocery service in the world (Walton, 1977).The proposed marketing strategy for Freshworks involved CRM support for the e business strategy, the company focused on technology and therefore decided to launch new online ordering system to place orders and check out upcoming variants and seasonal offering etc. also the feedback section for customer insights.This helped the company gainor develops extensive knowledge of its customer base and to segment customers according to purchases, location, and life stage. Using the information the company planned and designed it offerings to customers, for instance vegetarians’ items were never sent special offers on meat products and similarly children’s products are not sent to childfree shoppers. Moreover, various money -off coupon program encourages customers to try related, higher-priced products, not just receive discounts on goods they routinely purchase (Pearce & Ravlin, 1987).

The use social media also proved highly beneficial for the marketing of Freshworks. The web page over social media links such as Facebook proved exceptionally excellent approach for increasing the business of the company.Some of the important comments and statements received on the web pages provoked the new customers to try the shop and also suggested the level of satisfaction the old customers  have with the company. The web page displayed like customer survey, one of the example of customer survey from the webpage is provided below for the example,

The Fresh Works

Customer Survey

We would appreciate your input. Thank you.

How do you view/receive our menu?

Mail In the store Online

Do you notice our sign out front when you come in/drive by?

Yes No

Do you think we need a bigger sign?

Yes No

Are you a member of Facebook?

Yes No

If so, have you seen our Facebook page?

Yes No

Do you visit our website?

Yes No

If so, do you think it needs improving?

Yes No

Besides such surveys and feedbacks social networking and e- marketing has helped the company in expanding its market area, reachability and services quality. these sites also provided the price list for the products on of the example is below:

Not only this it kept on reviewing and upgrading the list the timings and availability for keeping its customer posted. The pages also consisted of the review section where the custmers posted their review some of which were like,

“best place to buy packed food”

“Best services and product availability”

“the groceries, fruits and packaged food are the best quality when they are from Freshworks, the quality and reliability of products offered are extremely impressive”

Such positive feedbacks provide  away for the growth of the brand image of the company and help in expanding its customer base while various issues and problems help it in improving in future, also the  queries poste by the customers and its regular provided or answer provided by the company helps in increasing the satisfaction level amongst its customers (Mintzberg, 1987).

Various tips used by the business for social marketing include;

–          Adding social media bookmark links to the  important web pages for increased sharing

–          Use the tagging and other metadata to improve the ability to search and measure the spread of information.

–          Create informational podcasts about a product’s overall space, not just the product.

–          Build community platforms around real communities of shared interest.

–          Build relationship

–          Check out Twitter as a way to show a company’s personality

–          Use the company email newsletter content with additional website content on a blog for improved commenting.

–          Build sentiment measurements, and listen to the larger web for how people are talking about the company the customer insight

–          Try out a short series of audio podcasts or video podcasts as content marketing and see how they draw.

–          Build conversation maps for your customers using Technorati.com , Google Blogsearch, Summize, and FriendFeed

–          People power social media. Learn to believe in the value of people. Sounds hippie, but it’s the key.

–          Spread good ideas far. Reblog them. Bookmark them. Vote them up at social sites. Be a good citizen.

–          Don’t be afraid to fail. Be ready to apologize. Admit when you’ve made a mistake.

–          Re-examine who in the organization might benefit from your social media efforts. Help equip them to learn from your project (Talisman, 2010).

–          Use the same tools you’re trying out externally for internal uses, if that makes sense, and learn about how this technology empowers your business collaboration, too

Benefits, costs and limitations

The set  of interrelated processes carefully designed for the whole set of business operations prove to provide excellent service, that can satisfy the customers needs and meets the strategic intentions of the organisation. FreshWorks considers that customers are at the very heart of their business and they believe that they should come first with the Competition Commission too. They believe that customers value and time savings by easy them with efforts like not having to drive to the store, or manual labour to be done to pick out the groceries, stand in line to pay for them, drive home and unload the car. Customers do, however, usually enjoy the opportunity to touch and feel the fresh produce and to make `impulse buys’. Therefore the team of Freshworks worked to streamline the customer’s shopping scenario while maintaining the attributes that customer’s value: getting the quality, the assortment, and the prices they want (Johnson & Scholes, 2002).

The diversity of providing the customers of Freshworksto find the products via Internet while not getting it in their local store.Thereby trying to save the searching time and efforts involved by the customer. The planning and fostering the variety in the services offered as per the feedback and actual requirements of the customer is what matters the most for the growth and development of the firm. Since the product requirement related to the store like the fresh work  define the customer requirements and some of them remain same while others are changed as per the  various seasonal offerings and all this pave the way for growth and development of the  company as per the human needs.

 Recommendation

The success of the FreshWorls shows how far the branding and effective service delivery can come in moving beyond splashing one’s logo on a billboard. It had fostered powerful identities by making their retiling concept into a virus and spending it out into the culture via a variety of channels: cultural sponsorship, political controversy, consumer experience and brand extensions.

In a rapidly changing business environment with a high competitors’ pressure Freshworks have to adopt new expansion strategies or diversified the existing in order to sustain its leading market position in an already established retailing market. The company must constantly adapt to the fast changing circumstances. Strategy formulation should therefore be regarded as a process of continuous learning, which includes learning about the goals, the effect of possible actions towards these goals and how to implement and execute these actions. The quality of a formulated strategy and the speed of its implementation will therefore directly depend on the quality of Freshworks ‘S cognitive and behavioural learning processes (Harry, 2010).

In large organizations as Freshworks strategy should be analysed and implemented at various levels within the hierarchy. These different levels of strategy should be related and mutually supporting. Freshworks’s strategy at a corporate level defines the businesses in which Freshworks will compete, in a way that focuses resources to convert distinctive competence into competitive advantage (Werther, William & Davis, 1989).

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