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Project on Online Imitation Jewellery

By Luv M Mishra Prashant Sachan Shikher Srivastava

Submitted to: Ms. Srividya Raghavan

INSTITUTE OF MANAGEMENT TECHNOLOGY HYDERABAD 30 DECEMBER 2013

Executive Summary

The project intends to develop an online platform for buying imitation jewellery. It will provide the customer to place an order online and the product will be delivered to them at their doorstep. In the beginning the website will serve the young crowd in IMT, Hyderabad, later it will expand to other parts of the city. The business will target mainly female colleagues and provide the latest fashion accessories, which will appeal to their style statement.

Objective
Keeping in mind the trend of imitation jewellery in coming days, the purpose of this online digital marketing project is to create on online platform where customers can come and purchase imitation jewellery. We as an online retailer fulfil the order form the customer and deliver it to their doorsteps.

Product and Services


Product: - Imitation jewellery of latest designs Service: - Home delivery of orders placed

Sourcing & Fulfilment


We will be tying up with minimum 4 to 5 retailers of imitation jewellery situated in and around Abids or Begum Bazar area. The order from our side will be placed well in advanced, roughly 5 days before the collection of the consignment. Further, we will be introducing accessories from the sellers on the pavement, certainly they do not have that guarantee of the item but then buying a thing or two which you think matches with the kind of outfit you have and spending some meagre amount on that will not be an issue. In this way, these people will now have a bigger reach and large customer base which would be possible because of their present condition. This move of ours can be taken as a step to help these kind of under privileged sellers who cannot make it that big. These sellers are identified at places like MG road mainly, Mehdipatnam and Kukatpally area.

Segment
Tech savvy females above the age of 15, like college going students, working women.

Value Proposition
Imitation jewellery is not among one of the big purchases which require high involvement of the customers, but customers can pick their desired product online and can place order. Our website does the same thing and provides services like: 1. Door to door delivery option of the item purchased by them,

2. Giving customers range of items as the website consists of assortments from various retailers present in and around Abids, Begum Bazar 3. Offerings are made of those things/accessories which are low cost sold on the pavements, but might end up picking in case suits us and for them customers will never go out that far.

Competitive Edge
Large Variety Many suppliers Covering different preferences (design, styles, cost)

Marketing Strategy
Promotion through social networking sites, buzz marketing i.e. word of mouth

Revenue Model
Mainly the revenue is generated from the commission earned from the retailers/dealers of the jewellery and some portion is earned for the customer as delivery charge. Cost: Major cost is involved in the logistics/delivery of the item Revenue: Commission from the retailers + delivery charges will be taken from the customers

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