Business Plan: Online Shopping Mall Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Feasibility of a Product or Service

Product or Service Desirability

The concept of Myshopinternational.com embraces a simple concept of integrating the biggest online stores companies in one cohesive website to promote ease for the consumer. The idea is to provide easy shopping for consumers where they can buy different product and avail service packages through a single website and can easily make payments through a single medium.

Gap in the Marketplace

Many retail stores and online companies are now providing services online through websites and social network forums to increase their sales in those target market who wants to purchase products from home. However, companies are only focused on providing their own web portals, but the concept of Myshopinternational is based on enhancing the consumer experience where they could purchase their favorite brands from different online retail companies through Myshopinternational. The consumer can make payments for their carts through Myshopinternational as they do not have to make payments to different online retail stores from where they have made purchases.

Timing for Introducing the Product

The timing is ripe for the introduction of the particular business concept because since 2006, there has been an increase in social networking websites and increase in the trend of opening online stores to increase number of consumers. However, the market for online websites have been on the rise till the current year with increased revenues, but it needs diversification in order to increase growth in the particular industry. The growth can be stirred through coming up with an innovative idea with a different business model to support all the online shopping websites. The particular business model for Myshopinternational is to assist these websites where there are a greater number of players. These websites need to differentiate themselves from the rest of the group due to which they are utilizing ways to increase customer traffic. Myshopinternational can offer better assistance and a helping hand in promoting their websites and in return the company shall receive a commission from the merchants on the purchase of the product.

Concept Statement

A concept statement shall be provided with a set of consumers to provide an entrepreneur with feedbacks and to check the viability of a product or service. A concept statement is described as a one page description of the business idea that helps in providing a set of consumers with the business idea, the target market, the reason for choosing the particular business idea, and how would it benefit the consumer. Through distributing the concept statement with potential consumers, it can help in answering the entrepreneur the weaker links and the stronger links of the business idea. A consumer knowledge is highly regarded by any company because in the end the consumers are the target market. Similarly, the concept statement will also allow the changes that shall be needed in the particular concept and discussing ideas on how it can be made better through different strategies. The concept statement also aids in understanding the nature of the market and their needs.

SWOT Analysis

Strengths

The concept of Myshopinternational facilitates the online shopping websites for those consumers who are living overseas and wants to purchase products from different companies and brands. The payment mode concept for the particular idea is based on the country’s desired methods and availability. It allows consumers to save shipping cost because they have to make payments on a single website instead of purchasing from different websites and making the payments separately. The concept addresses the market need by providing the ease of shopping online while supporting the online websites.

Weaknesses

The Myshopinternational Company would have to make its own brand image to facilitate the giants of the online shopping websites. The company does not have the number of followers due to which the big companies might feel reluctant in associating themselves with a new company that has just stepped foot in the online shopping business. A number of competitors may follow the concept of Myshopinternational with huge amount of investment or the similar concept can be launched from the existing online shopping websites to increase their portfolio.

Opportunities

The opportunities that lie with the concept includes opening up its own online shopping website, with its own brands to offer their consumers. The company can also target small businesses by applying a business model of customer acquisition tool. This concept allows new small businesses to develop deals and offer it to the online company for free. The company only charges the small businesses when new customers consume the deal.

Threats

Myshopinternational have threats from all around the world as it aims to cater to the global market. The local competitor for each country would also consider Myshopinternational as its competitor which is a problem for the company....................

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