Question

Endorse a detailed Business plan for a E commerce (Website) Start Up (ICT Business) , it should include the following 1 Endorse a marketing plan for ICT business • Ensure that internal and external environmental issues are addressed • Critically review the feasibility of target market projections • Endorse the selection of advertising and promotional strategies 2 Endorse the operation plan • Review and verify, the scope of the business operation plan • Ensure that the business plan complies with business needs • Endorse the criteria for quality processes against the organisational standards 3 Endorse the organisational plan • Critically analyse and review the organisation's structure • Ensure that the organisational structure meets the organisation's strategic plans and directions 4 Endorse the financial plan • Endorse the financial strategy for the new initiative • Evaluate the expected cash-flow projections • Critically analyse and evaluate the effects of financial decisions on the ability of the organisation to meet planned outcomes AB Pty Ltd is seeking $500,000 in funding in order to purchase needed computer and data storage equipment, design and implement fully operational e-commerce websites and to have awareness of the services offered by launching a marketing and Search Engine Optimisation (SEO) campaign

Answer 1

ICT Business

Lets assume that ICT Business is into online selling of fashion products say apparels, jewellary, footwear and other accessories. Since, it's a start up so a strong comprehensive marketing plan is required to make it a recognised start up. Hence, lets diversify the marketing strategies into various sectors :

1. Hunt for a funding :

To become a well known brand, a company shoud have enough funds so that it can easily meet the cash flow to market it's products or service as well as meet the daily expenditure of running a business / company.

Lets assume that the company ICT Business has raised a good funding of say $500000. Lets now understand various sector where the money can be utilised to create a effective marketing plan.

2. Utilisation of funds to get a office space on rent :

To be a well known brand, a proper workplace is very necessary where employees can work whole heartedly and give productive outputs. It doesn't matter the amount of fund you raise. Try to rent a office space initally rather than buying it by spending much. Most of the well renowend brands even rent an office space. You may spend a bit of infrastructure of the space you rent.

3. To ensure that internal and external environmental factors are addressed :

To make a company grow, it's very important that internal factors which is under company's control such as : plans and policies, human resorces, marketing resources, labour managemet, financial forecast are strictly implemented and followed. If any of the factor lacks then company may suffer a loss.

Some of the external environment factors like customer centric approach, competitors, input supplier which the company cant control directly shoud be focussed. In the case of ICT Business, the company should draft it's target audience, the suppliers shoud be pro active and the goods sold shoud be quality effective. This would directly impact the customer base as the more customer satisfies, the customer base would grow and eventually company would grow.

3. Endorsement :

It's a very good business strategy, where in popular celebs and renowened people can be paid through the funds raised and make them endorse for ICT Business.

Tv advertisements, hoardings, discount offers etc shoud be rigrously done to make ICT business a brand.

Vendor management should be done to ensure that the suppliers meets the customer demands.

4. Marketing campaigns :

Since, digital marketing is in great demand these days, so ICT business has to ensure that online marketing campaigns are done daily to generate leads and make a strong customer base.

SEO campaign is followed on daily basis with proper keywords to rank the website and make ICT become a very good and reputed e commerce company.