Business concept paper for an imaginary ecommerce business

Name Lecturer Course Date BUSINESS CONCEPT PAPER Royal Collections is an online jewel store established in 2009 with its main offices situated in LA, California and Royal collective.com as the official website. At Royal Collections, we are driven by the goal of giving our customers a new taste of jewelry from our collection of over 300 brands and 15,000 unique ornaments to choose from. We have the ideal collection for weddings, anniversaries, gifts, and souvenirs, ranging from classical gemstone necklaces and enamel bracelets to modern amber pedants, diamond ringsand golden grills. Our value proposition is, "Simply crisp clean and the most elegant online jewelry store with unbelievable prices! We give value to your money." Royal Collections uses the direct sales revenue models in which customers can directly order of item(s) of choice from the regularly updated website and add them to a shopping cart. Customers then pay for the items via PayPal and their purchases are shipped to them within a specified time, usually48 hours. The target market for Royal Collection is the average middle class population of USA residing in the urban cities within the California, Washington, New York and Texas. This encompasses both the lower middle class with an average annual salary of $25,000 to $50,000 and the upper middle class with an average of $100,000 and above. The competitive advantage that Royal Collections have over other players in the industry is online accessibility by company stakeholders, customers, suppliers and potential consumers. This not only ensures faster business transaction rates, but also acts as an online marketing strategy. In addition, several distribution points across the country make it possible for the company to deliver its products faster and more efficiently, thus reducing operation costs and increasing customer satisfaction. The marketing strategy employed by the company is aggressive online marketing and discount on more than one purchases, as well as cluster levels for customers. Customer levels range from bronze to platinum, and the latter is guaranteed special discounts on purchase because of their loyalty to the business, which...