Posted: March 18th, 2023
E-Commerce Vape Shop
Vape Shop Online is an e-commerce business that specializes in marketing and distributing vaping technology supplies, such as vaporizers and e-liquids. It is supported by brick and mortar kiosks across the country and currently has 100 of these in operation.
Vape Shop Online is situated to capture a significant portion of the online market by marketing itself through its kiosks and by using big data/relational database systems and techniques that can be used to gather information about web users (Wambler, 2015). This information will be used to assess whether Vape Shop Online wants to focus on cost leadership or on differential marketing, though at the outset the e-commerce business will focus on cost leadership and utilize its leverage as a brick and mortar business to offset costs (Thakur, 2014).
Review overall market / complete vertical analysis
The overall market provides plenty of competition as there are several vape shops around the world that utilize e-commerce as part of their business plans. ECIG (Electronic Cigarettes International Group) is a major one in England that sells its products globally through its e-commerce sites. For Vape Shops, the vertical analysis presents a positive picture: in 2015, the cost of goods sold was exactly 50% of sales, which was $1,210,000. Thus, gross profit on the year was 605,000 dollars. Wages were $200,000, and total expenses were $305,000. Thus, net income was $300,000. This was up 25% from 2014, due mainly to the expansion of kiosks. The use of e-commerce is expected to raise net income by a further 15% over the next year.
The market as it exists is currently strong as Goodman (2013) points out, and Public Health England (2015) has recently published its report in which it found e-cigarettes and vaporizes to be 95% healthier than traditional cigarettes, which is a big boon to the industry. The FDA in the U.S. is expected to release its own guidance in the coming months. Thus vaporizers are being shown by researchers to be a good way to quit smoking and to still enjoy the relaxing exercise of “vaping” without hurting one’s health.
The main objective is to extend market presence by establishing an online presence that can compete with other e-commerce retailers. The main draw initial draw to promote the site is to use a giveaway campaign that will encourage users to go to the website and type in an access code that will qualify them for a new vaporizer device and e-liquid. This will generate a source of consumers for the site’s database.
The mission statement of Vape Shop Online is to be the best e-commerce site on the web in terms of delivering a quality web-based shopping experience for vape products, quick delivery time via superior processing and shipping, and a dedicated business that meets all the needs of the vaping community.
The strategic plan is to incorporate all aspects of the business into one, tight and efficient functioning online business. The management team will consist of the owner, the CFO, the marketing manager, and the director of operations.
The segment of the market that is being targeted is the vaping segment of the smoking community, all ages over 18 in every community (primarily Western, where English is spoken, as this will be the language of the website).
Strengths: Top of the line vaporizers; easy access for consumers; educational material: how-to guides. Weaknesses: No significant penetration in European markets to date. Opportunities: Many people especially in the UK are looking to quit tobacco; the industry is booming there. Threats: Big tobacco has deep pockets, may corner the market; Vape Shop must build a loyal consumer base by using strong marketing techniques, in the style of Red Bull, which appealed to alternative sports and was a significant sponsor of X Games. Vape Shop will do the same in order to set itself apart from other E-cig and vape sellers and build its brand identity as “the” alternative vape shop stop.
Vape Shop Online will concentrate on advertising to extreme sports fans, who are more “into” alternative concepts, such as alternative energy drinks, sports and vaping. It will market itself as “the” go-to source for all one’s vaping needs, which should appeal to this niche market, and then it will gradually expand to appealing to the health market as well, by promoting itself as a way to quit smoking. Thus, it will have cross-cultural appeal and reach out to diverse audiences and ages. Likewise, the marketing will include a mix of digital ad campaigns, outdoor ad campaigns, and traditional print media campaigns.
According to the guide of Treacy and Wierseman (1993) Vape Shop Online plans to be a “Master of Two,” which means it plans to offer two different value propositions to its customers: first, a great product (vaporizes and e-liquids) and second, the ease of access that e-commerce sites allow coupled with kiosks in shopping outlets to capture foot traffic.
Vape Shop Online will utilize two-tier distribution methods to purchase via distribution partners and to provide the kind of support services that are typically provided by manufacturers (support in sales, tech, training, education, financials, etc.). Thus Vape Shop Online will be able to focus on the delivery and user end of the consumer experience.
Pricing options will range from base models of competitive price of $20 to high-end luxury models in the $200 range. Promotions such as the giveaway will be utilized in order to widen our consumer base.
Integrated communications will be utilized to generate free advertising as well as paid advertising and monitoring marketing information systems will be utilized in order to ensure that the marketing campaigns are generating an impact. Surveys will be conducting at alternative sporting events where Vape Shop is a sponsor and random calls will be conducted as well to estimate overall impact.
The budget for the annual launch is $200,000 and this will cover website upkeep and maintenance as well as server costs, back-up and distribution channel costs.
Vape Shop Online forecasts a yearly growth of 15% over five years so that by 2021, Vape Shop has grown its business by 75% percent.
Goodman, A. (2013). E-Cigarettes Are Smoking Hot — Four Ways to Invest in Them.
Forbes. Retrieved from http://www.forbes.com/sites/agoodman/2013/12/05/e-cigarettes-are-smoking-hot-4-ways-to-approach-them/
Public Health England. (2015). E-cigarettes around 95% less harmful than tobacco estimates landmark review. Gov.uk. Retrieved from https://www.gov.uk/government/news/e-cigarettes-around-95-less-harmful-than-tobacco-estimates-landmark-review
Thakur, S. (2014). Cost leadership or differential. SRT Marketing. Retrieved from http://www.srtmarketing.com.au/insights/cost-leadership-or-differential.html
Treacy, M., Wierseman, F. (1993). Customer Intimacy and Other Value Disciplines.
Harvard Business Review. Retrieved from https://hbr.org/1993/01/customer-intimacy-and-other-value-disciplines
Wambler, S. (2015). Relational Databases. Retrieved from http://www.agiledata.org/essays/relationalDatabases.html
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
There is a very low likelihood that you won’t like the paper.
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
Place an order in 3 easy steps. Takes less than 5 mins.