Online Business Expansion Proposal
Online Business Expansion Proposal for Herbal Solutions
Online Business Expansion Proposal for Herbal Solutions
Herbal Solutions is an herb shop located in Riverton, Utah that researches and formulates herbal remedies to combat health problems and improve the physical, mental and emotional wellbeing of its customers. The business conducts its operations from a home office, with clients visiting the location for consultations with the herbologist as well as to purchase the prescribed herbs. Currently, the shop has a very little online exposure which, the owner believes, has stifled its growth and potential for success. The purpose of this paper is to evaluate the viability of the business in an online environment, analyze the competitive landscape and propose online marketing strategies to help the business expand its reach and grow its customer base.
A1. Viability of Product or Service in an Online Environment
Herbal Solutions does not currently have a dedicated website to sell their herbs and promote their consulting services. The business’ only online exposure is through a Facebook page which is grossly inadequate for the purpose of conducting ecommerce primarily because it lacks a product catalog, a shopping cart and an electronic payment system. The business’ current marketing activities depend solely on word-of-mouth advertising. Although this has been the source of most of the sales conducted by the business, it has proven ineffective over time in growing their exposure and customer base beyond a few family members and friends. The quality of the herbs offered by Herbal Solutions is substantiated by the fact that more than 80% of their ongoing sales come from returning customers. With such a good product and a loyal customer base, the business will miss an enormous opportunity for growth if they do not expand into an online environment. This expansion is not only necessary for continued success, but crucial to the long
Online Business Expansion Proposal for Herbal Solutions
Herbal Solutions is an herb shop located in Riverton, Utah that researches and formulates herbal remedies to combat health problems and improve the physical, mental and emotional wellbeing of its customers. The business conducts its operations from a home office, with clients visiting the location for consultations with the herbologist as well as to purchase the prescribed herbs. Currently, the shop has a very little online exposure which, the owner believes, has stifled its growth and potential for success. The purpose of this paper is to evaluate the viability of the business in an online environment, analyze the competitive landscape and propose online marketing strategies to help the business expand its reach and grow its customer base.
A1. Viability of Product or Service in an Online Environment
Herbal Solutions does not currently have a dedicated website to sell their herbs and promote their consulting services. The business’ only online exposure is through a Facebook page which is grossly inadequate for the purpose of conducting ecommerce primarily because it lacks a product catalog, a shopping cart and an electronic payment system. The business’ current marketing activities depend solely on word-of-mouth advertising. Although this has been the source of most of the sales conducted by the business, it has proven ineffective over time in growing their exposure and customer base beyond a few family members and friends. The quality of the herbs offered by Herbal Solutions is substantiated by the fact that more than 80% of their ongoing sales come from returning customers. With such a good product and a loyal customer base, the business will miss an enormous opportunity for growth if they do not expand into an online environment. This expansion is not only necessary for continued success, but crucial to the long
Cited: Medicinal Herb Profile. (2012). Retrieved from http://www.agmrc.org/commodities__products/specialty_crops/herbs/medicinal-herb-profile Natures Healing Pharmacy. (2012). Retrieved from http://www.nps.gov/plants/medicinal/plants.htm