Environmental Factor of Internal Market
1.0) Introduction
In this assignment we are required to set up an online business with an appropriate marketing plan and use it to contribute our business. After discussion, we are deciding to do an online trading business which is selling customized T-shirt through Internet. After a simple industry analysis (PEST environmental analysis) we did, we find out that Internet has a huge potential for new start up business.
We see this opportunities, and we decide to conduct our business in a pure play method which selling product purely through Internet. Pure play business benefits us from minimizing the start up cost like rental fee, utilities fee, and other maintenance cost. Internet is a global reach network, doing business through Internet is able to help us to expand our business into global market easier.
Our website is named FunArt.com (www.funart.com) and selling customized T-shirt which allow customer to design their own unique T-shirt that other website may not able to do. This unique feature helps our business to stand out among all competitors. One of the reasons we choose to selling customized T-shirt is because customized clothing still lack of popular in Malaysia. Refer back to other country, there are many successes cases of selling customized clothing through Internet for example like thesis.com. We see the opportunities and the potential of this business, we believe this customization services can attract people come and visit our website and also able to convert them into our customer.
Our website is targeted on the young generation and teenagers who looking for something really unique and customized. We believe that young generations are one of the most growable customer groups. They are the most active Internet user compares to other age group, and they are willing to spend money on something they like. Teenagers like to be unique and stand out from other. To attract them, we need to provide products can differentiate us with other.
In this assignment we are required to set up an online business with an appropriate marketing plan and use it to contribute our business. After discussion, we are deciding to do an online trading business which is selling customized T-shirt through Internet. After a simple industry analysis (PEST environmental analysis) we did, we find out that Internet has a huge potential for new start up business.
We see this opportunities, and we decide to conduct our business in a pure play method which selling product purely through Internet. Pure play business benefits us from minimizing the start up cost like rental fee, utilities fee, and other maintenance cost. Internet is a global reach network, doing business through Internet is able to help us to expand our business into global market easier.
Our website is named FunArt.com (www.funart.com) and selling customized T-shirt which allow customer to design their own unique T-shirt that other website may not able to do. This unique feature helps our business to stand out among all competitors. One of the reasons we choose to selling customized T-shirt is because customized clothing still lack of popular in Malaysia. Refer back to other country, there are many successes cases of selling customized clothing through Internet for example like thesis.com. We see the opportunities and the potential of this business, we believe this customization services can attract people come and visit our website and also able to convert them into our customer.
Our website is targeted on the young generation and teenagers who looking for something really unique and customized. We believe that young generations are one of the most growable customer groups. They are the most active Internet user compares to other age group, and they are willing to spend money on something they like. Teenagers like to be unique and stand out from other. To attract them, we need to provide products can differentiate us with other.
References: 4) Six-Days News, Malaysia’s 2011 retails sale exceed RM 83 Billion, viewed on Jun 26, 2012, available from: http://www.btimes.com.my/Current_News/BTIMES/articles/retail11/Article/ 5) Malaysian Institute of Economic Research, viewed on Jun 16, 2012, available from: http://www.mier.org.my/outlook/ 6) Fiber2fashion.com, Textile and Apparel Industry anticipate double-digit growth, viewed on Jun 16, 2012, available from: 14) Personal Data Protection in Malaysia e-government: has the PDP Act 2010 got any place? Viewed on Jun 16, 2012, available from: http://sonnyzulhuda.wordpress.com/2012/04/01/personal-data-protection-in-the-malaysian