Business Plan Essay Example | Topics and Well Written Essays - 1000 words - 2

Business Plan - Essay Example Online business development starts with development of an online business place, widely known as website. Several facets are attached with development of a website and depend on the type of website as per requirement. Major contributions are from design and technology perspective keeping in mind the business objective, e.g. a corporate website can be static in nature with a professional design aspect, whereas a retail website (portal) has to be dynamic and communicative with consumers, with detailed product information, and purchase and multiple payment options. FlexiCoolGifts FlexiCoolGifts is a gift store, which requires the dynamic aspect of design to effectively communicate with perspective consumers. The website needs to be an e-commerce website with detailed information about the products offered, and purchase and multiple payment options for best user experience. Once the website is developed, a complete online marketing strategy and online business revenue model has to be est ablished. Online Marketing Online marketing is the process of marketing and advertisement of a business (brand) and its products and services on the â€Å"World Wide Web†. A simple concept plays the role in the Internet marketing scenario – â€Å"Customer Reach – anytime, anywhere†. Online marketing strategy is a combination of certain factors depending on the business type, model and business objective. It is also a combination of â€Å"primary† and â€Å"complementary† marketing channels to make the entire strategy objective oriented and result driven. Complete understanding of online marketing strategies and careful utilization of online marketing tools and channels make online marketing highly effective with minimum cost. FlexiCoolGifts can utilize the following types of online marketing channels for business development. Types of Online Marketing Online marketing is a combination of certain types of marketing and advertisement activitie s carried out in the Internet environment with an objective of reaching out to the perspective customer, anytime & anywhere. There are various types of online marketing channels such as Search Engine Marketing (Paid Search Results), Search Engine Optimization (Non-paid Search Results), Social Media Marketing (Marketing and Advertisement through Social Networking Channels and websites), Social Media Optimization (Marketing and advertisement message optimization in social media), Display Advertisement (marketing and advertisement through display or banners online), Contextual Advertizing (marketing and advertising text messages on other websites), Affiliate Marketing (marketing and advertising on a affiliate website), Directory Submission (Submitting Websites to Online Directories), Webinars (Online Seminars), Online Audio and Video Marketing (Interactive Marketing and Advertisement), Mobile (Cell Phone) Marketing (SMS, MMS, Audio and Video Clips), E-Mail Marketing (Marketing and Adve rtisement through e-mails), Online Chat Support (Online Support Mechanism), Viral Marketing (Audio-Video option to Spread through people), Interactive Advertising (Audio & Video Clips recorded or animated), and blogging. Online Marketing Strategy By careful consideration of market dynamics, customer segmentation, market research results, SWOT of business and unique selling proposition (USP), a marketing strategy and marketing mix can be devised. FlexiCoolGifts is a unique gift store with a wide range of gift items, music; videos etc. for various occasions are available along with customized