Business plan outline
Name: 4Rent Company is a classified online website which aims at building a strong customer base by providing rental services. The company will concentrate on making sure that all persons visiting the company website are able to find any item they would like to rent. 4Rent Company which has the website as the main link to the clients will focus on all type of customers, students, housewives and workers specifically those around Canada.
Category: The business is a customer to customer based business (C2C). This is because with the help of the website the customer can be able to rent their items to another customer. The company has also provided an opportunity for the customer to enquire from the other customer base whether an item is available. Therefore, 4Rent is an ecommerce partnership that promotes customer to customer business (Olsen, 2012).
Product/Service: the company will focus on providing a wide range of products to meet the needs of its diversified customers. The products that customers will be able to find on the website for rental will range from books, student items, housekeeping items, cars, furniture, hardware and technology items. This wide range of items will be attained from other clients since the website will provide an opportunity for customers to easily place an advert of any item they may not be using at the time for other customers to rent.
Competitive advantage: Ecommerce businesses are widely spend in our target market but 4Rent Company will not only attain a quick growth and expansion stages but will also achieve competitive advantage after a very short period in business (Pat, 2001). This is mainly because of the wide variety in the products offered by the company. The company competitors: Kijij and Craigslist companies do not provide a wide range of product as well as focus on different groups of clients. Therefore, since 4Rent will be able to capture the attention of not only student, but also housewives and other unrelated businesses, it is then expected to perform much better than the competitors. 4Rent will be able to attract more customers because all will expect to find whatever they are looking for in one website. By ensuring that customers are able to get the items they require easily and in a wide variety, customer satisfaction will be increased thus building customer loyalty and expansion.
Value Proposition: customer satisfaction is a key factor in the company and this will be achieved by strengthening customer to customer marketing (c2c) (Chaudhury & Kuilboer, 2002). Customer to customer marketing will enhance the ability of customer satisfaction by making sure that the customers willing to rent their items are fully aware of what the customer renting requires. It is assumed that customers are likely to understand the needs of a fellow customer better than a sales agent. The mode of marketing will also reduce unnecessary expenses arising from sales agent and other middle men, meaning that 4Rent products will be cheaper than those of other related businesses. However, the value of the company products will be based on product availability, variety, low selling price and above all quality products. The company will assist its customer to attain quality product through a quality management department which will monitor the condition of items rented via the company website.
The Market: 4Rent Company target market will be students, housewives, workers and families living in Canada. The company will be able to reach all these groups of persons through a local and classified website which will provide rental services to the customers. The website will be easy to understand therefore no training will be required. Customer to customer marketing will also assist in widening the customer base because customers will be able to provide a wide range of products for renting by other customers who visit the website (Philip, (2009).
Chaudhury, A. & Kuilboer, J. (2002). e-Business and e-Commerce Infrastructure. McGraw-Hill.
Pat, S. (2001). Customers.com. Crown Business Books: Random House
Philip, K. (2009). Marketing Management. Pearson:Prentice-Hall
Olsen, E. (2012). Strategic Planning Kit for Dummies, 2nd Edition. John Wiley & Sons, Inc.