Interior Views is an online store that offers home decorator materials and accessories. It is now approaching its fifth year in business. This store is a destination store that offers fabrics specially designed for home decorators in widths up to 54 inches. More than 900 fabrics are on hand at any given time. There are also more than 10,000 samples available for custom ‘#8220’ cut orders. As they make their purchase decision, customers can touch, feel and even take the fabric home.
Interior Views has gained a lot of knowledge from the years that it has been in business. The market has changed over the years and Interior Views will need to make key decisions regarding the future 5-year lease. This is the right time to look back and assess the past to determine a direction for the future. This is the principal purpose of the business planning. It will address key issues such as location, financing, product and service.
Interior Views currently maintains a local content website. However, it has not been given the time or attention needed to assess its potential marketing potential. It provides information content but does not generate any revenue or enhance the business image.
Interior Views products and services are in high demand. According to market research, the company has identified a need for these products in the area. It is also predicting that Internet sales will become a bigger part of the selling process. The biggest challenge is that women aged 35-49 are the most likely to shop online. Additional challenges arise when shopping for decorator material.
Interior Views’ online marketing goal is to support its continued growth, profitability and sustainability through the effective implementation of this strategy. Online marketing and sales strategies will use an eBay website to attract more customers and generate revenue. This is a cost-effective way to reach new customers via the Internet. The Web target audiences will include the most Web-savvy young customers currently served by the store (women between 35 and 25 years old) or potential customers out of area who are already shopping online to purchase Interior Views products. eBay will place emphasis on its selection, competitive pricing, customer service, and other Internet options.
1.1 Objectives
- Maintain a healthy gross margin each month.
- Every month, you can generate sales.
- Realize a modest annual growth rate this year.
- eBay-based sales can increase revenues to $5,700 monthly by the end if the first year. After that, a 5% rate of growth is expected.
- Enhancing “information channels”, to give customers more options to obtain information from the store.
- Access eBay/Web to satisfy customers in areas outside of your immediate delivery area.
1.2 Mission
Interior Views LLC is an online store that sells decorator fabrics, home accessories, and furniture. The store celebrates the home through the color and texture of fabric. This experience informs, inspires and shows customers how to make their home a personal expression of themselves. Interior Views encourages people to envision what they can achieve and helps them make that dream a reality.
1.3 Keys for Success
The following factors will determine the success of your company:
- High quality products sold with exceptional customer service
- Continue to communicate with your customer base by using the newsletter, postcards and our website.
- Maintain gross margins greater than 45%
- Retain customers for repeat business and referrals.
- Generating additional sales to offset all expenses for the website as an individual profit-center.