Bazaar Group 1 Page Business Plan
Overview
Bazaar Group has a clear business objective to develop an Online Market Place for aspiring local entrepreneurs, innovators and existing small to medium size businesses that will showcase their products and services and engage in business transactions Online. The idea of developing an online market place is focused on addressing the need to globalize the local business industry to attract foreign investors.
The Business Objectives
As a key component of our growth strategy, we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire new investors and members. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.
The Customer
Bazaar Group has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as We provide Local Entrepreneurs and innovators the opportunity to feature their products and services to the local and international scene in a safe and secured online marketplace. This is a critical issue for our selected target market of Small and medium sized Businesses..
The Value Proposition
Bazaar Group is uniquely positioned to deliver value to Small and medium sized Businesses.. "Bazaar Group will We provide an online market place for local entrepreneurs,innovators,small and medium size businesses to engage in business transactions while gaining public recognition to the local and the world market." In order to be deliver on this value proposition, we Bazaar Group is passionate to globalize the Philippine Market and promote the local entrepreneurs,innovators, and the local industry.. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Online Market Place market. We consider our key competitors to be: OLX.com.ph and Istorya.net. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with OLX.com.ph, Lazada.com and even Alibaba.com by A one stop shopping center for the local consumers and a local business directory. We are determined to globalize the Philippine business Industry and attract foreign investors..
Key Strategies
Over the next 6 months, our focus will be to utilize the use of social media outlets to attract customers and since the internet is the most effective and cost efficient way since it is used by Billions of people worldwide.. This task will be undertaken in the context of our broader strategy to To be the pioneer online shopping site in the local market and a key player for business development company in the Philippines.. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: The most trusted and most visited online marketplace in the Philippines To reach an average of 500,000 transactions daily To gain worldwide recognition.
About this document
Online Market Place Business Plan
This document was created by Jon Kevin of Bazaar Group using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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