Cranvilles Department Store, currently selling high-quality products in Manhattan, USA, enjoys an excellent reputation among its customers, mainly because of its highly trained sales staff. However, Mark Cranville, CEO of that enterprise, is worried that the company gets behind current technology as it has no website or e-business strategy.
After examining the company as well as its competitors it was found that the company should set up an all-embracing web presence as main pillar of an e-business strategy to keep up with modern technology and allow sustainable growth. This website will be accompanied by social media marketing as well as a change in the organisational structure of the business to optimise business processes.
In order to achieve the aims and objectives of this venture specific actions and strategies were identified, which are explained in this consultancy report. Furthermore, potential risks were assessed in order to provide a most broad overview.
Table of Contents
1. EXECUTIVE SUMMARY
2. PROJECT OUTLINE AND SOLUTION
2.1. INTRODUCTION
2.2. AIMS
2.3. OBJECTIVES
2.4. SOLUTION
2.5. HOW THE STRATEGY AFFECTS THE BUSINESS
3. JUSTIFICATION OF THE IDEA
4. IMPLEMENTATION PLAN
Project Goals and Themes
The primary goal of this consultancy report is to design and implement a comprehensive e-business strategy for Cranvilles Department Store to ensure its competitiveness in the modern digital market. The paper addresses the company's lack of an online presence and outlines how a tailored web platform, supported by social media marketing and organizational adjustments, can secure future growth and enhance customer loyalty.
- Development of a bespoke e-business strategy and sales website.
- Implementation of social media marketing to increase reach and engagement.
- Transformation of the organizational structure to include a specialized Online Department.
- Application of the SLEPT framework for comprehensive risk assessment and strategic planning.
Excerpt from the Book
2.4. Solution
In order to achieve the above-mentioned aims and objectives, this chapter will propose certain steps to set up the e-business strategy of Cranvilles Departments Store. The to be presented solution consists of four aspects which have to be considered. Nonetheless, the overall goal of the strategy is to launch an all-embracing website to represent Cranvilles Department Store on the Internet. As it was found above, Cranvilles Department Store has a fine reputation among its costumers and stands for exclusivity and luxury. A challenge to be tackled is to transfer these characteristics to the website and to picture the unique shopping experience throughout the web presence.
As competitor analysis is crucial to design a successful e-business strategy (Chaffey, 2014, p.203) certain parts of competitor’s e-business strategies will be adopted or used for stimulation. Therefore, the following aspects were identified:
Firstly, the website itself has to be adjusted to the costumer’s expectations as it is the online ‘branch’ of Cranvilles Department Store. Therefore, next to the ability to sell products it has to picture the in-store atmosphere. This can be achieved by mimicking the in-store experience. A strategy that high-quality clothing manufacturer Ted Baker Plc. (www.tedbaker.com/uk) is using. The aim of such a strategy is to create a distinctive visual user interface in order to attract the costumer. Hereby, exclusivity and individuality will be connoted. Additionally, such a web presence refers to the highly trained and professional sales staff, which the costumer will find on the shop floor. Therefore, this strategy persuades the objective of generating a large online sales volume as well as it increases the in-store revenue.
Summary of Chapters
1. EXECUTIVE SUMMARY: This chapter provides an overview of the challenges facing Cranvilles Department Store and proposes an e-business strategy to foster sustainable growth.
2. PROJECT OUTLINE AND SOLUTION: This section details the strategic aims and objectives, proposing the development of a website, social media presence, and internal structural changes to facilitate digital growth.
3. JUSTIFICATION OF THE IDEA: This chapter analyzes market trends and uses a SWOT analysis to justify the necessity and feasibility of the proposed e-business strategy.
4. IMPLEMENTATION PLAN: This section utilizes the SLEPT framework to assess social, legal, economic, political, and technological risks associated with the implementation of the strategy.
Keywords
E-business strategy, Cranvilles Department Store, Online presence, Digital marketing, Retail, SWOT analysis, SLEPT framework, Social media, Customer experience, E-commerce, Business operations, Sales revenue, Digital transformation, Brand strategy, Competitive analysis.
Frequently Asked Questions
What is the primary focus of this consultancy report?
The report focuses on developing an e-business strategy for Cranvilles Department Store to modernize its operations and establish an online presence.
What are the core thematic areas addressed in this document?
The core themes include digital strategy development, organizational restructuring, risk management, and competitive analysis within the retail sector.
What is the main objective of the proposed e-business plan?
The primary objective is to transfer the store's in-store shopping experience to an online platform to increase sales and brand reach.
Which scientific framework is used to manage the project's milestones?
The project adopts the "SMART Objectives" framework to ensure the goals for online and in-store revenue growth are concrete and measurable.
How is the implementation of the strategy structured in the main body?
The implementation is structured through a strategic roadmap that includes creating an Online Department, optimizing digital presence, and performing a risk assessment.
What key terms summarize the work?
Key terms include e-business strategy, digital transformation, retail e-commerce, SWOT analysis, and the SLEPT framework.
How does the proposed solution specifically aim to differentiate the company?
The strategy focuses on storytelling and mimicking the high-quality in-store atmosphere online to maintain the brand's reputation for luxury and exclusivity.
What role does the SLEPT framework play in the implementation process?
It is used as a tool to evaluate external risks—specifically social, legal, economic, political, and technological factors—that could impact the business transition.
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- Karl Luis Neumann (Autor:in), 2016, Consultancy Report. E-Business Strategy in order to advice the manager and owner of Cranvilles Department Store, München, GRIN Verlag, https://www.grin.com/document/427394
