This report is based on to develop a business plan for "postmygreetings.com” who are going to start their business in India. This business plan will try to help the company to find out whether India is suitable place or not for them to start their business. The main aim of the company is set an online platform from where customers can able to buy customised gifts and greetings card. In order to start their business, the company needs to develop different plan to start their business successfully and strategically. The company need to develop marketing plan, Operational plan and financial plan in order to find out different aspects to start its business.
In this report, a market plan would be constructed to analyse different aspects so that the company can able to build the strong marketing strategy to run their business successfully. The following company “postmygreetings.com” is well known for making customised cards where people can add their picture or their friend’s pictures and people can able to send different customised gifts like knitted sweaters and handmade chocolates. The company is specialised in personalised cards and gift items. The company have decided to expand their business and they are now showing their willingness to expand their business in India. In this report, the business environment of the company has been analysed with the help of proper tools and techniques. It will help to analyse the market condition and based on this analysis the company can proceed in the new business field.
This segmentation is based on the demographic criteria.
India is the second largest country in the world in terms of populations and the forerunner in the process of development. There are many positive indicators presented in the market of India and the company is well confident to run their business successfully.
It is important for the company to prepare a proper business plan so that they can able to understand their goals and objectives that they require to achieve from the Indian market. “postmygreetings.com” generally wants to target those people of India who are having their age limit within 30 years. It is found that most of the people from this age group love to use greetings cards to wish their close friends and relatives on special occasions like festivals, holidays or birthday to express their feelings (Thomas, 2014).
India is a country where huge numbers of a festival are celebrated throughout the year and people choose these moments to greet their loved ones.
Factors that create the market gap of "postmygreetings.com”.
1. India is having the huge demand of greetings card and personalised gift items but there-there is less server of these items presented in the country and people of India do not have the proper knowledge to buy the customised card from online.
2. The price of these gift items and greetings cards are comparatively high, so many people use to hesitate to buy these products and items. However, the quality of the products is not so good and most of the time customers failed to get value for their money.
“postmygreetings.com” is an online company that will produce high-quality birthday greetings, personalised gifts, photo greetings cards, Thank You cards and by post greetings cards. Customers will get the chance to personalise their greeting cards and gift items according to their requirement. They can add their pictures, information and the picture of their loved ones to the card and select the design of their own. The company will offer different greeting cards that are innovative and cheaper in price and they will give the opportunity to the customers to get their gift items sitting at their homes. The company will offer the customers the chance of making their own design and customization in chocolates.
The mission of the company is to provide their customers with high class and unique design of greetings cards to their customers so that it can help the customers [to fulfil their wishes and needs (postmygreetings.com, 2017).
The vision of “postmygreetings.com” is to achieve most numbers of unique visitors.
It is important to possess situational analysis because it can able to help to identify both macro and micro industry and markets. This can help the company to target the exact customers as well to identify their major competitors. Situational analysis can help the company to know about the marketing trends and try to use the information that is gathered so that the company can able to build a strong strategy (Hofer, 2016).
Macro market and macro industry are included in the macro analysis.
SWOT and PESTEL
Porter’s five forces
Table 1: Macro Analysis
(Source: Cunningham, 2014)
“postmygreetings.com” will operate the e-commerce market of India. It has the growth rate of 2% and it is estimate, in 2017, the e-commerce market of India will earn about $153.2 Million. The e-commerce market in India was worth about $83 million in 2012. “postmygreetings.com” will be focusing on producing high quality gift items to the customers and they will produce the opportunity to their customers to customise their gift items and greeting cards of their own.
The government of India has tried to developed different laws so that the electronic transactions can be done smoothly. Turner (2014) commented that, it is found that the numbers of online customers are increasing day by day as the government of India are trying to make the online transaction more secure. The government has taken the strong initiative to promote internet connection, which is highly affordable for the customers (Blackburn, 2013).
India is considered as the second largest country in terms of the internet market. It is found that the E-Commerce revenue of India has the possibility to rise to $120 billion in 2020 from $30 billion. India is one of the forerunners to use internet connection comparing to the countries like Brazil and Russia (Wainwright, 2013).
In India, it is found that the online users’ numbers have been increased a lot since 2014 and it can be said that about 153.2 million estimated buyers will be there within 2017. About 67% of the total online customers are used to taking the reference of social media before making the decision of purchase any goods through online. Baker (2014) stated that, it is found that about 130 million of people in India are linked with the internet connection and out of that 80 million people are using facebook and rest of the people are spending their time using other social media sites. In the urban area of India, people approximately spend about four hours of their daily life (Navarro, 2015).
India is growing immensely in the usage of technology and people of India are using the E-commerce taking the help of mobile apps. People of India are using smartphones, mobile phones and tablets for online shopping and every technology are updating day by day. This can help "postmygreetings.com” to earn better chance getting more customers, who will show their eagerness to buy their products.
Table 2: PEST Analysis of India
(Source: Turner, 2014)
Therefore, it can come into conclusion that E-Commerce is one of the easiest ways to earn the profit as this industry is growing rapidly in India. Baker (2014) stated that, most of the people of India love to spend their time on online shopping and internet browsing. If the legal protection will be provided to the online marketing sites then it is possible for them to execute their business with more success.
The personal interest in the customers is high and the service’s proprietary interest is high. It is trying to produce new offerings and refreshing items can able to help the customers to adapt according to their demands, needs and wishes.
The company is going to start their business in India so they can face challenges to understand what kind of items and products can able to help them to achieve customer’s satisfaction.
As it is found that, the numbers of people are increasing day by day in the usage of online shopping, the company can take the opportunity to capture most of the customers who are using the internet in their daily life.
The company will face some threats from their major competitors Archie’s and IGP.com. Archie’s are doing their business in India for long period and “postmygreetings.com” can face challenges from Archie’s.
Table 3: SWOT analysis of "postmygreetings.com”
(Source: Blackburn, 2013)
The power of supplier is high in India as there is less number of suppliers present in the country that can able to produce high-quality prints. HP Printers and Khanna papers are their major suppliers.
The customers bargaining power is high because there are high ranges of greetings cards and innovative gift items to select. The customers are showing their willingness to get value for money and they want the quality of product that can able to fulfil their requirement.
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