This paper gives an executive summary and a generated marketing strategy of the visual commerce startup that is called Virtual Glutton (VG). The executive summary incorporates a brief overview of the company, its legal structure, its target market, its business model, its human resources, its marketing and sales, its financial summary, its technology as well as its research and development (R&D). It is initiated to use as a pitch deck. The research about the marketing strategy describes instruments using the example of Virtual Glutton to explain how to build a superior strategy and how to increase the number of customers.
Table of Contents
1. Introduction
2. Chapter 1 - Executive Summary
2.1 Company Description
2.2 Legal Structure, Regulations, and Intellectual Property Rights
2.3 Target Market and Competition
2.4 Strategy Business Model
2.4.1 Customers.
2.4.2 Product and Services.
2.4.3 Pricing.
2.4.4 Competitive Advantage.
2.4.5 Growth Strategy.
2.5 Human Resources
2.6 Marketing and Sales
2.7 Financial Summary
2.8 Research & Development and Technology
3. Chapter 2 – Marketing Research Paper
3.1 Problem
3.2 Social Media Marketing
3.3 Influencer Marketing
3.4 Event Marketing
3.5 Search Engine Marketing
3.6 Email Marketing
Objectives and Topics
The primary objective of this paper is to provide a comprehensive executive summary and a detailed marketing strategy for the visual commerce startup "Virtual Glutton" (VG), serving as a foundation for a professional pitch deck.
- Company profile, organizational structure, and business model analysis.
- Market segmentation and competitive landscape evaluation for the US and European markets.
- Strategic implementation of digital marketing channels including social media, SEO, and email marketing.
- Financial planning, fundraising status, and growth trajectory projections.
- Integration of technological R&D, specifically focused on virtual reality software development.
Excerpt from the Book
Influencer Marketing
The Influencer Marketing “is the process of leveraging an existing social media influencer – someone who carries a strong reputation with a large number of people in a given niche – by having them endorse your brand, support your content, or co-create content with you and your brand” (DeMers, 2018).
This subfield of marketing is essential based on VG’s objectives since the company does not have any stores to show the functionality of the software, thus, the influencers act as brand ambassadors.
The purpose is to using influencers and their accounts to show how they improved certain metrics like followers, likes, and design by using the visual commerce software. Based on VG’s customer groups, the company works with influencers who are big in their expertise like fashion, food, travel, or lifestyle. Furthermore, it partners with startups that have enlarged their customer ranges (Varsamis, 2018). Those influencer campaigns are timed over a period of a year and center around the software and its benefit to the selected influencers and startups. The company hereby focuses on authentic micro-influencers with a follower range around 10,000 (Harvey, 2018). Micro-influencers have the advantage that their followers are a specific audience which may lead to a long-term relationship. Moreover, they can give insights about their audiences and its behaviors as well as are supportive in building campaigns (Jirbandey, A., 2018). Micro-influencers have a higher engagement with their followers, are more cost effective and drive more social interactions than influencers with more than 100,000 followers (Pierucci, S., 2018).
Summary of Chapters
Introduction: This chapter highlights the rising significance of social media data for business intelligence and outlines VG’s evolution from proof of concept to European expansion.
Chapter 1 - Executive Summary: This section provides a complete overview of the company, detailing its business model, target segments in the US and Europe, financial status, and operational structure.
Chapter 2 – Marketing Research Paper: This chapter examines the competitive environment and defines the specific marketing strategy applied by VG to gain market share through digital channels and influencer partnerships.
Keywords
Virtual Glutton, visual commerce, startup strategy, social media marketing, influencer marketing, digital marketing, search engine optimization, market share, business intelligence, entrepreneurship, e-commerce, software development, marketing strategy, customer acquisition, venture capital.
Frequently Asked Questions
What is the core focus of this individual strategy paper?
The paper focuses on providing an executive summary and a concrete marketing strategy for the visual commerce startup "Virtual Glutton" (VG) to support its growth and fundraising activities.
What are the central themes addressed in the work?
Key themes include visual commerce industry dynamics, competitive strategy, social media and digital marketing techniques, financial planning for startups, and organizational growth.
What is the primary objective or research question?
The primary objective is to define a superior marketing strategy that helps VG differentiate itself from competitors and increase its customer base.
Which scientific methods or management principles are applied?
The author applies Porter’s generic strategies, specifically focused differentiation, and utilizes the Porter Value Chain model to structure the marketing activities.
What does the main body of the paper cover?
The main body covers the internal company description, human resources, financial projections, and a detailed breakdown of marketing channels including social media, influencer, event, search engine, and email marketing.
Which keywords best describe the paper?
Relevant keywords include Virtual Glutton, visual commerce, digital marketing strategy, startup management, and e-commerce growth.
How does VG leverage micro-influencers for its growth strategy?
VG partners with authentic micro-influencers (approx. 10,000 followers) because they offer a more specific audience, higher engagement rates, and cost-effectiveness compared to larger influencers.
What is the significance of the London branch office opening?
The opening of the London office represents a strategic expansion into the European market, which is characterized by a different customer base compared to the United States.
How does the company handle its research and development?
VG keeps development lean by renting major components and focusing on software for virtual reality, while utilizing cloud-based infrastructure like Microsoft Azure for data analysis.
- Quote paper
- Friederike Berg (Author), 2018, Business Strategy and Management Principles. Marketing Strategy of a Visual Commerce Startup, Munich, GRIN Verlag, https://www.grin.com/document/505670
