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E-Commerce Vape Shop
Overview/Summary Description
Vape Shop Online is an e-commerce business that specializes in marketing and distributing vaping technology supplies, such as vaporizers and e-liquids. It is supported by brick and mortar kiosks across the country and currently has 100 of these in operation.
Situation analysis
Vape Shop Online is situated to capture a significant portion of the online market by marketing itself through its kiosks and by using big data/relational database systems and techniques that can be used to gather information about web users (Wambler, 2015). This information will be used to assess whether Vape Shop Online wants to focus on cost leadership or on differential marketing, though at the outset the e-commerce business will focus on cost leadership and utilize its leverage as a brick and mortar business to offset costs (Thakur, 2014).
Review overall market / complete vertical analysis
The overall market provides plenty of competition as there are several vape shops around the world that utilize e-commerce as part of their business plans. ECIG (Electronic Cigarettes International Group) is a major one in England that sells its products globally through its e-commerce sites. For Vape Shops, the vertical analysis presents a positive picture: in 2015, the cost of goods sold was exactly 50% of sales, which was $1,210,000. Thus, gross profit on the year was 605,000 dollars. Wages were $200,000, and total expenses were $305,000. Thus, net income was $300,000. This was up 25% from 2014, due mainly to the expansion of kiosks. The use of e-commerce is expected to raise...
The FDA in the U.S. is expected to release its own guidance in the coming months. Thus vaporizers are being shown by researchers to be a good way to quit smoking and to still enjoy the relaxing exercise of "vaping" without hurting one's health.
Market Objectives
The main objective is to extend market presence by establishing an online presence that can compete with other e-commerce retailers. The main draw initial draw to promote the site is to use a giveaway campaign that will encourage users to go to the website and type in an access code that will qualify them for a new vaporizer device and e-liquid. This will generate a source of consumers for the site's database.
Mission Statement
The mission statement of Vape Shop Online is to be the best e-commerce site on the web in terms of delivering a quality web-based shopping experience for vape products, quick delivery time via superior processing and shipping, and a dedicated business that meets all the needs of the vaping community.
Strategic plan
The strategic plan is to incorporate all aspects of the business into one, tight and efficient functioning online business. The management team will consist of the owner, the CFO, the marketing manager, and the director of operations.
The segment of…
References
Goodman, A. (2013). E-Cigarettes Are Smoking Hot -- Four Ways to Invest in Them.
Forbes. Retrieved from http://www.forbes.com/sites/agoodman/2013/12/05/e-cigarettes-are-smoking-hot-4-ways-to-approach-them/
Public Health England. (2015). E-cigarettes around 95% less harmful than tobacco estimates landmark review. Gov.uk. Retrieved from https://www.gov.uk/government/news/e-cigarettes-around-95-less-harmful-than-tobacco-estimates-landmark-review
Thakur, S. (2014). Cost leadership or differential. SRT Marketing. Retrieved from http://www.srtmarketing.com.au/insights/cost-leadership-or-differential.html
Harvard Business Review. Retrieved from https://hbr.org/1993/01/customer-intimacy-and-other-value-disciplines
Wambler, S. (2015). Relational Databases. Retrieved from http://www.agiledata.org/essays/relationalDatabases.html
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