Executive Summary – UCarePackage.com
UCarePackage.com is an e-commerce company designed to become the market leader in webbased sales of care packages to students designed by students. The company is located in
Westerville, OH.
The Internet is poised to support e-commerce retailers because more and more people are
turning to online shopping to save time. Invesp predicts global e-commerce sales, which will
total $680.6 billion USD this year, will grow 106% to reach $1.4 trillion in 2015. On a year-overyear basis, global e-commerce sales will rise 20.5% to $820.5 billion in 2012, and 17% to $963
billion in 2013. Meanwhile, e-commerce sales in the US, which are expected to total $197
billion this year, should grow roughly 10% a year for the next four years, hitting $297 billion in
2015 (51% increase compared to 2011).
UCarePackage.com will capitalize on with an easy-to-use website and an efficient distribution
system.
In the next three years UCarePackage.com intends to create an icon e-commerce brand
through laser-focused online marketing and will grow to $179,000 in revenue.
1.1 Objectives
UCarePackage.com's objectives for the first three years are:
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To make UCarePackage.com an icon brand for care packages to students.
To develop an effective, well-placed e-commerce site for sales of snack and health product
packages.
To launch a laser-focused marketing campaign in a controllable and measurable market that will
drive customers toward the company website.
To create an infrastructure for the fulfillment of web-based sales.
1.2 Mission
UCarePackage.com's mission is to provide interesting and unique care package options using
the Internet to lower the consumer's cost. We exist to attract and maintain customers. Our
services will exceed the expectations of our customers to generate return visits and purchases
as well as recommendations.
1.3 Keys to Success
UCarePackage.com's keys to success are:
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Marketing
Web design and utility
Product quality
Customer Service
Humor
Company Summary
UCarePackage.com's goal is to become the e-commerce market leader in sales and marketing
of student care packages at colleges and universities across the United States.
2.1 Start-up Summary
UCarePackage.com will incur the following start-up costs:
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Product inventory
Shipping materials
Web development
Toll-free telephone line installation
Shelving units for inventory storage
Computer system with Microsoft Office, QuickBooks Pro, printer, and a broadband Internet
connection
Start-up Requirements
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Start-up Expenses
o Web Development - $100
o Inventory - $4,000
o Shipping Materials - $900
Total Start-up Expenses
$5,000
2.2 Company Ownership
UCarePackage.com is a privately held Ohio sole proprietorship. Eta Phi Mu Alumni Association
will be the owner. The company intends to recruit a sophisticated team of business degree
college students to work as interns to gain knowledge, experience, and course credit. The board
members from the Association will be granted shares of stock to provide an incentive for their
performance on the board.
Products
UCarePackage.com will market and sell care packages to family members of students across the
U.S. These packages will include an assortment of packs made up of packaged snacks, over-thecounter medicines, health products, and beauty products. The gift packs will be designed by
students for students so their satisfaction will generate further and continued demand.
Market Analysis Summary
The market for has been consistent for many years as parents, grandparents, and friends wish
to send quality gift to the students in their lives. The market is lead by the Baby Boomers and
older Gen X’ers off to college. Most have adopted technology now and understand the ease
and convenience of ordering online. No longer do they have to run to the store and try to buy
everything needed to make a quality care package. With the click of a mouse, they can order a
stuffed care pack and send off to loved ones. With the rise of adoption of social media,
including Facebook, Google+ and Twitter, they will have access to UCarePackage.com accounts
where they can like/friend as well as pass along recommendations to friends and families. And
they will be eager to watch these accounts for discounts and new products.
Strategy and Implementation Summary
UCarePackage.com's strategy is based on capturing a small percentage of the growing student
care package market share through web sales.
Also, UCarePackage.com intends to create a premier brand, so that they can eventually capture
market share across broad geographic lines.
5.1 Competitive Edge
UCarePackage.com's competitive edge will be their easy-to-use website, unique and enticing
products, superior customer service, and a precise online marketing strategy employed by few,
if any, competitors. The website design will be a competitive advantage because research
indicates that an easy-to-use, clean and simple website significantly increases sales. The design
of UCarePackage's site will encourage purchases because it is so easy and quick to make the
purchase. Too often sales are lost because of complex websites that are far from intuitive.
UCarePackage.com products are geared toward today’s students. The staff will make
recommendations about product packing lists because they are students and understand what
students want. And we will carry more than just “snacks.” There will be “get well” packages
that include cold medicine, tissues, vitamins, etc. There will be “Exam Week” packages with
aspirin, caffeine products, and high-energy drinks. There will be holiday packages for students
that cannot make it home for family celebrations, such as Halloween, Valentine’s Day, St.
Patrick’s Day, and Thanksgiving.
Another UCarePackage.com's is superior customer service. The mantra of the customer
service department is to serve the customer in any way required. Customers that call in with
problem/issues will be amazed at the amount of personal attention they receive and how
quickly issues are not only resolved, but significantly improved. This will be a powerful asset.
Finally, with the background and experience of UCarePackage.com’s CEO, the online marketing
campaign will be second to none. The CEO completely understands how to grab online market
share away from established competitors and rank at the top of organic searches. The CEO is
also capable of guerilla marketing campaigns that will have people talking about the company
and spreading the word through a passionate evangelism. UCarePackage.com will be the
household name when it comes to care packages within 2 years time.
5.2 Marketing Strategy
UCarePackage.com is focused on the merging/redefined Internet marketplace. The users will
be Baby Boomers, Gen X’ers, and even the students themselves. UCarePackage.com can bring
these people cutting-edge and useful gift packs coupled with convenience and service.
The long range goal of UCarePackage.com is not only to dominate the care package market, but
to create an icon brand. Initially the company will:
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Engage in web-based marketing for the next year to generate awareness of the company and
product information. Because Internet-based advertising has declined in recent quarters, the
prices for advertising have consequently significantly dropped making the expenditure more
cost effective.
Engage in viral video advertising providing general awareness to the public at large and direct
individuals to the company's website.
Engage in proven SEO (Search Engine Optimization) tactics that will ethically place
UCarePackage.com at the top of potential searches on Google, Yahoo! and Bing.
5.3 Sales Strategy
UCarePackage.com will process 90% of sales online through a secure socket layer (SSL), an
secure Internet connection. All orders will be charged to Visa, Mastercard, American Express,
or PayPal
By ensuring that the website is easy to navigate as well as simple to order from,
UCarePackage.com will be ensuring that people who make it to the website will end up
purchasing something. This last point is key. Research indicates that too many sites that are
not easy or intuitive lose customers who migrate through the site, often putting products in
their basket, yet leave without purchasing anything.
Also, a sales nurturing campaign will be created to send news, updates, coupons, and humor to
existing customers with email and social media “drip” campaigns that will remind customers
and create additional revenue.
5.3.1 Sales Forecast
The first month and a half will be used to develop and ready the site as well as create the
inventory and shipping processes. There will be no sales. From month two on,
UCarePackage.com expects a gradual rise in sales.
We will start with fewer product offerings in the beginning but will build out to provide 10 to 15
difference care package options. The goal is to generate over $54,000 in revenue in year one,
$179,000 in year two, and over $319,000 in year three. Packages will range from $19.99 to
$54.99 based on contents. Profitability will be enhanced as inventory will be bought in bulk,
with coupons and special deals being arranged to maximize margins.
5.4 Milestones
UCarePackage.com will have several milestones early on:
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Raise startup money
Create the website
Website completion and optimization – Begin marketing campaigns
Purchase inventory and shipping materials
Complete hiring and training of initial company personnel
Web Plan Summary
UCarePackage.com will use their website as their gift pack catalog and ordering device. The
website will be a complete product offering as well as to provide company information. There
will also be informative and humorous videos and a blog.
The website will be designed with simplicity in mind. It is imperative that customers are able to
navigate throughout the site intuitively with no problems. UCarePackage.com will be
benchmarking websites such as Amazon's to develop best practices for the different elements
of the site.
A phone number will be offered on the website to remedy and problems that customers
encounter.
6.1 Website Marketing Strategy
The website will be marketed through search engines such as Yahoo and Google. In addition to
advertisements on search engines, UCarePackage.com will advertise with websites that have
similar customer demographics, such as school gear sites and textbook sites. The cost of
Internet advertising has dropped significantly with the slowed economy that it has become
quite cost effective.
6.2 Development Requirements
Timothy Clark will be responsible for site development, marketing, staff recruitment and
training.
Management Summary
Timothy Clark, president and founder. He is an experienced director of marketing with over 7
years experience in online marketing initiatives with small to medium-sized businesses. He’s a
graduate of Otterbein University and spent 15 years out in Hollywood, California, writing and
directing movies. He is the president of the alumni association for the Eta Phi Mu social
organization and is starting the business - UCarePackage.com – to help Otterbein students be
better prepared for life and work upon graduation by giving them experience, knowledge and
school credit working at a startup business.
7.1 Personnel Plan
Timothy Clark will be on the payroll starting month one. The team will be in place to handle
accounting, marketing coordination, and order fulfillment and customer service in month two.