Final Project

Internet Marketing Plan - Final Project
NYU - Internet Marketing Strategies

MARKETING MIX

Product
I’m selling turquoise jewelry.
For new customers, I consider a successful outcome of my website visitors to having an easy navigation and ending the process with a purchase. I believe that the most important factor is the person who is navigating in my webpage find the desired information, fun experience or otherwise they may not return. The quality and credibility of the site and the product must be sufficient to return the visitors interest so they will stay/explore the site.
I’m planning to ship my products by UPS and if the price of the jewelry is over than U$100.00, I will provide free shipping for my customer since mostly of my products are mostly light weight.


Price

Once my product will be differentiated from others turquoise jewelry on the internet, my strategy will be adding value of the product. Probably my product price will compete with some higher price competitors, but I always will positioning my product as a high end quality item.
I believe that people who will spend time/money with my products always will be looking for differentiation and quality.

In my site I will introduce new opportunities for my dynamic pricing, for example, new customers could be automatically given discounted purchases for the next purchases.
I plan to accept payment through credit card, paypal or money order . On my webpage I will use the system “one-time purchase” and the customer will have the option to have the purchased history. The strategy will be interesting for wholesale.


Place

Since I have my physical and on line store, I have to separate the “place” in two contexts : for my physical store the aim of place is to maximize the reach of distribution to achieve widespread availability of my products while minimizing the cost of inventory, transport and storage. In an online context, the places also will relate to promotions and partnerships. I believe for my store reach the potential audience besides my own website. I have to be also inside another websites that has the target audience as a feminine sites.

Since my product is really specific and detailed I have to be a seller controlled.
I have two process integrated in one: my physical store located in Albuquerque where I have my local costumers and my online store where I will sell to all states in America.
I want my physical store to be the base for returned merchandise of any product.
My customers, can not find my 100% customized product, elsewhere, once my jewelry is completely exclusive.


Promotion
The promotion that I will use as a strategy will be to inform customers about my product and the key will be communicating the existence of my jewelry to a target market. And for that communication I will need to have in my webpage the concept that the first impression is important. The visitors to my webpage have to be attract to the design of the page, the velocity and the product.


The promotion opportunities that I will use are listed below:

- Word of mouth:

It’s proved that the typical Internet consumer tells 12 other people about his/hers online shopping experience (Opinion Research Corporation International - ORCI - reported on a study amongst US consumers). This will work because I have a product that has extremely high quality

- Online advertising:

I will host my home page in another website. Users can click through a banner advertisement in web pages that is specifically for female audience.

- E- Mail Newsletters

I’m planning use newsletters as a direct marketing to encourage trial and purchases and also for building relationships with costumers online. Since a vast majority of e-mail are spam or viruses, my strategy to make users open my email will be built a data base when someone visits my website and express interest in my product registering and providing their email address although they not buy… Also will exist in my plan send periodic e-mail to support different objective such inform about on sale products or newly launched product, repeat purchases or reaction of customers who no longer visit my webpage.

My business fit in strategic model based in differentiation. Since my product its based in exclusivity. I will provide the most different jewelry that you normally see on the business.



COMPETITIVE ANALYSIS

Always scanning of competitor sites always watching what they are doing, look for new companies starting on the internet, studying new theories, new habits, technologies and always be able to change strategy direction.

My principal strategy that I will really focus on be differential from others companies would be the fact that they can customize turquoise jewelry. Would be the first one to launch on the internet.

My differential would be “uniqueness”. I want to have the most creative jewelry, look for the best gems stones available on the marketing and pass the conception that people who buys my product always will have excellent quality. I will provide this “trust” sending together with the jewelry a authenticity certificate of the stone and the material (silver or gold).
I want make my customers happy and having the feeling that they bought a very fine and unique jewelry. For that I also will delivery the jewelry in a really nice package. I want to crate a fidelity with my costumer.

The dynamism of the internet enables new services to be launched and another factors like price and promotion change much more frequently. Based on this, always its possible that new companies launch similar products and try to invade the space. With the Internet, the costumers have more variety to choose than the traditional market. The key differences that have to be watched are always observe new approaches from existing companies, new companies starting on the internet and new technologies, design techniques and costumer support will give a competitive advantage.

I can grow my business using others gem stones besides turquoise. This step I will take when I have already a fidelity of my costumers and knowing already my commitment with quality on the area.

Blue Gem sells a product that demands a lot of creativity , custom made handcraft work. I will always create jewelry with more creativity, watching tendencies, styles, and having excellent artisans.

I will focus on increase costumer loyalty. Starting from costumer satisfaction, I will provide satisfaction with my products and service.


INDUSTRY AND FINANCIAL ANALYSIS

Based on my research on the internet, I found out that during the second half of 2.000, the overall internet population female continued to grow, those earning 30.000,00 and 50.000,00. The number of American adult with Internet access grew from about 88 million to more than 104 million during that period of time. With this number it’s a fact that the internet today is a part of Americans lifestyle. New opportunities, new behavior and a new channel of sell to potential costumers.

One of the most important factor is that I can increase sales at a very high rate without corresponding increase in operating expenses.

Once I have my physical store structured, I will need to start a capital only for construction of my webpage and advertisement strategies. I will try to start with no advertisement on payroll expenses and my structure will be based in my Albuquerque store.

For my initial startup cost will be U$30.000,00 witch 10.0000,00 will be spend to purchase material (Once my product will be customized I don’t have to have a big inventory. I will spend 8.000,00 in a project/ execution of my webpage and 12.000,00 in marketing strategies to make may home page known by my target public.

I believe that after my first year I will start to revert the investment on profits. I’ll be having returning costumers already and start implement other kinds of gems and also plan new strategies to expand worldwide.

I believe that in my first year I can make U$20.000,00 and with perspective to increase 70% in the next 2 years.

Trends within the industry always helps. What is hip today and where the tendency heads to? Believing on changes, I’ll always provide my webpage with abundance of varieties with constant dynamism of offers and different options of styles and tools for the clients to create fashion and also follow fashion.


FUTURE OPPORTUNITIES

I expect my company to grow after I start the e-commerce. Today I can sell just for people who walk-in on my store in Albuquerque, I believe that after I put my product available on the Internet I can reach costumers all over the world.

Some steps and opportunities I see in the future of my business:

- Expand my e-commerce to other countries.
- Start to make jewelry with more gem variety.
- To import and export trends from and to other countries.
- Start to promote on my homepage contests rewarding the most creative artisan.