Internal Code: 4AGC
Write the Retail STRATEGY for a web-retail company. This trimester, we have two businesses to choose from (choose one for your assignment), or you may propose your own business. Briefs from the two businesses appear later in this document.
To be successful, you have to put your entrepreneurial hat on and come up with low-risk innovative solutions.
You are to prepare for actual start-up/revival of the business as an E-Commerce retailer. You will lead a team of 3 other people (4 person team). Each member must contribute to the satisfaction of the group to receive the group grade. There is a group contract and group evaluation in this document that you should discuss, change and sign. Post your agreement on your group discussion board on Cloud Deakin by week 3.
For maximum productivity, it is suggested that the team break up the assignment into:
The purpose of this assignment is to provide a real life experience of starting up/repositioning an e-commerce retailer based on the insight gathered in this process combined with course learning. When possible, students should conduct brief surveys of what others think of the business for supporting research – talk to your friends, family and colleagues.
To keep this real, you will have a budget of AUD 40,000 +25% (4 partners each coming up with some cash upfront). This will include your stocking, setup and marketing costs. If you want to increase the budget, you will have to make a STRONG justification. This money is to last you for 12 months and you will have to provide projected a return on this investment that is based on your proposed activities.Give us your calculations as an appendix and put a list of strategic items (e.g., an account/spreadsheet/financial table) that a business owner can easily understand. i.e., I will do A media to get to result B increase in sales – $3000. A will cost Y dollars – $1000. After we spend Y dollars, we should increase sales by X amount – 160 units. This will give us Z profit/market share/growth – $4000 in total sales minus $1000 additional costs of A, gives $3000 result for B. So By doing A and spending Y, you will get result B.Note that every strategic “vector/initiative” has to be costed and have a return – this will help you to check whether your strategy is achievable.
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