The paper 'Critical Evaluation of an E-entrepreneur Australian Business 'is a wonderful example of a Management Essay. E-entrepreneurship refers to establishing a business that relies on the net economy. This requires utilizing data networks to offer products. The development of the internet has led to the rise of e-entrepreneurship. In Australia, the shift has been witnessed where there has been a rise in e-entrepreneurs. The main aim of online entrepreneurs is an inversion of innovation into economic activities. E-entrepreneurs markets and sells their produce over the internet. Small enterprises have become very important in the Australian economy.
This is due to the creation of employment and revenue generation. The entrepreneurs have innovative ideas and energy which they use in establishing their business. The success of e-entrepreneurs depends on the entrepreneur. The knowledge of the entrepreneur plays an important role in achieving success. Most of the e-entrepreneurs in Australia have made it in their business. Of the successful e-entrepreneurs in Australia is Booktopia. The book store has expanded to become among the most successful e entrepreneurs in Australia. The book store deals with books, e-books, magazines, DVDs, and gift ideas.
Booktopia is fully owned by Australia and its main purpose is retailing with books online. The company is based in Sydney Australia and has the capability to offer more than 4 million books. The e-entrepreneur has offered the Australian market with books from different publishers both local and international. The business is owned by Tony Nash and other co-founders who have built the business to exceed the revenue to more than 20 million dollars (Booktopia, 2014). This essay will critically analyze Booktopia and look at the extent to which important elements in formulating and evaluating business have been achieved. In order to market products and services, a well-established marketing plan should be availed.
Booktopia have a well-detailed marketing plan that has enabled them to succeed in their online sales. Booktopia has been able to identify its market, market location, and timing of their purchases. This has enabled them to satisfy their customers. The repeat sales have been evidence of Booktopia having a well-crafted marketing plan. Marketing is an activity that helps in revenue generation.
To establish whether marketing have succeeded, sales have to be generated. This can be further elaborated by the marketing concept. This is a philosophy that looks at all the aspects that the business is involved in. for e-entrepreneurs, the business has to satisfy the customers’ needs while at the same time they are able to help in attaining the business objectives. A successful e-entrepreneur has to ensure their plans are directed toward achieving customer satisfaction. Booktopia have been able to direct all their efforts in ensuring that they satisfy their customers.
Booktopia has made strategic online marketing planning. This has been evidenced by their website where they advertise their products. Their marketing plan has targets that are aimed in customer and business benefits (Booktopia, 2009). The situational analysis involves looking at the business position and the expected future position. The e-entrepreneurship requires the business to gauge its position and determine its next move. This helps in determining how effective the business planning process is. By looking at the Booktopia situation, the business has been doing well. The e-business has been able to expand its market share gaining more customers and generating higher revenue.
There are a lot of opportunities for the e-business due to the rapid growth of the internet. Booktopia has been on the frontline in taking advantage of technological change. This gives the business a great chance to continue expanding in the future (Booktopia, 2014).
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