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Business Description

In this report we will do a detailed discussion about “DIGIBIZ” a digital marketing startup which focuses on building new digital world. We offer digital marketing services to our clients and help them capture more market with the help of digital tools. We offer all the marketing services including Search engine optimization (SEO), search engine marketing (SEM), social media marketing (SMM), social media optimization (SMO), Google ads, Pay-per-Click (PPC), Content marketing, and email marketing. We focus on serving the clients and giving them the best output and for their investment (Johnson, 2018). Today, it is very crucial for the business to shift online and educate their customers about their products and services with the help of internet. Statistics are showing the all the world’s population is moving towards this digital era and the time people spend on internet is increasing day by day. DIGIBIZ provides its services to restaurants and cafes whether it is a small restaurant or a big chain. Clients get the services according to their needs, requirements and goals at the minimal price. A unique factor which ‘digibiz’ offers is that is provides the audit report and their future marketing plan to its clients in advance without any charges. Also, with this new wave of web 3.0, our company also gives idea to our clients to transform the way they do business in this new upcoming universe. 

digital marketing startup

Source: (sampoernauniversity.ac.id, 2021)

Our organization consists of 50 people working on board from the office and several other partners and employees working from their home. We have an onboard investor who is a businessman and has invested $5 million in our startup; he is very passionate about the world of internet and specially the ‘Metaverse’ (Russell, 2016). In our company there is a CEO, who foresees all the operation from the above. We have a finance department which manages all the monetary transaction and keeps them in record. We have divided our team into several departments which handles different aspects of marketing. We have an SEO team, which handles the tasks of increasing the ranking of the website on the search engine. Similarly, we have teams for every other aspect of marketing and they are divided into this team according to their skills and abilities. We also have a team of developers who solve the technical issues which we face in our job. All the jobs are performed and managed very smoothly with the help of a very co-operating team and their enthusiasm for working (Terwiesch & Cachon, 2016). Till date we have been successful in fulfilling the goals of our clients and they are very happy to work with us.

In the year 2021 Digibiz served nearly 500 clients and generated revenue of $4 million. In the year 2022, we have an aim to serve around 900 clients, which means that we aim to achieve 450 clients in the first half of the year. We have a very motivated team with big ambitions and goals. The industry in which we operate is showing and upward graph of growth, since most of the people now know the future is make for the internet. People know that those who will not create their online presence will eventually die (Wasserman, 2012). 

Roles and Responsibilities

Demand Forecasting

Source: (www.statista.com/ Dec, 2021)

The above graph clearly defines the growth of internet users over the years. It is clearly visible that we are in a digital revolution and in a very dynamic environment. Digibiz was incorporated in the year 2021, which saw a huge second wave of Corona virus. At this point of time the whole world was shattered and people were fighting for their lives, which had a negative impact on all the businesses; and our business also saw a negative trend in our business. But the industry is not seasonal and it operates for the whole year (Oliva et.al., 2022). Also, we not directly dependent on anyone, but we are indirectly dependent on the tech giants, like Facebook, Google, etc.  Since we need to operate on the terms and conditions defined by these big companies and need to make changes with the change in their algorithms. But this dependence is also changing the introduction of web 3.0 and with the introduction Decentralized platforms. It is really possible for this world to operate completely on the internet without being under the control of these companies. Therefore, we are enthuastic about this this ‘META Revolution’ which is happening and we hope to serve the best of services to our future clients to make them happy (Teixeira et.al., 2018).

The management of supply chain ideas and parts of the company is critical for our new DIGIBIZ start-up. As a matter of fact, it has been shown that "digital supply chain management" is nothing more than management which involves with a digital twist. Predictive analytics may be used to improve inventory allocation and estimate demand, among other things. Replacement systems that are automated. Faster assembly or selecting via use of robots and automation. Through their websites, social media, as well as other online channels, supply chain firms showcase their expertise through digital marketing. Logistics is concerned with the specifics of transporting and storing goods (Mukti et.al., 2019). It is a blend of creative and analytical efforts that make up marketing, on the other hand. As a result, these two divisions work hand-in-hand in every organization.

Even more important than this is making it clear what benefits consumers will get as a result of our supply chain management efforts, which will allow us to procure the materials in an efficient manner. Since a result, content marketing is an important tool for transport marketing, as it entails providing useful material for our website in order to attract visitors. Whether it's a blog post or a video, the content we produce can be published or interactive media (Junaidi, 2020).

Some of the important assumptions for our new DIGIBIZ startup are mentioned below:

  • Only large corporations may benefit from digital marketing.
  • A high conversion rate is a sign of more traffic.
  • Paid advertising will be immediately profitable.
  • It is assumed that digital marketing generates a higher return on investment (ROI).

 Some of the risks associated with this startup are described below:

  • There isn't a clear plan in place for digital marketing.
  • Vulnerability and defamatory risks are part of danger
  • The dangers of utilizing Services.
  • Target audience research is lacking (Lisa et.al., 2020).
  • Omni-channel marketing is another potential risk

Break Even Analysis

2022 (In Dollar)

Contribution per unit

Sales

30

Less: Variable cost

8

22

Contribution Margin Ratio per unit

Contribution per unit

22

Sales

30

73.3%

Break Even Point in dollars

Fixed cost

125000

Contribution margin ratio

73.3%

170454.55

Budget for Two Years

DIGIBIZ Start-up

Profit & Loss Statement

Particulars

Amount in Rupees

2020-2021

2021-2022

Sales

           45,000.00

                       45,450.00

A. Total

            45,000.00

                       45,450.00

B. Cost of Sales

              6,750.00

                         6,817.50

C. Gross Profit (A-B)

            38,250.00

                       38,632.50

D. Operating Expenses

Cost of material Consumed

              5,800.00

                         5,858.00

Purchase of stock in trade

              2,465.00

                         2,385.00

Depreciation and amortisation expense

                 480.00

                            484.80

Change in inventories

               -740.00

                           -747.40

Employee benefit expense

                 300.00

                            303.00

Advertisement

              3,000.00

                         3,003.00

Other expenses

                 100.00

                            100.10

Total

            11,405.00

                       11,386.50

Operating profit

           26,845.00

                       27,246.00

Less: Interest

              1,342.25

                         1,362.30

Profit before tax

            25,502.75

                       25,883.70

Less: Tax @ 30%

              7,650.83

                         7,765.11

Net Profit AT

            17,851.93

                       18,118.59

The main materials, equipment’s and tools thar we are going to use in our new startup based on digital marketing, it has been found that Marketing efforts are affected by a wide range of factors, and they may differ greatly from one company to the next. There are initiatives that work well for certain firms, but fail miserably for someone else. But there are a few things that haven't changed much, if at all, in our digital marketing strategy (Mogaji et.al., 2020).

Demand Forecasting

For instance, the digital marketing cycle is another one of those components that must be considered. Creating a strategy and fine-tuning it over time need an understanding of the current marketing lifecycle. We'll move on to Traction after the Setup & Strategy stage is complete. Many businesses skip beyond Setup & Planning and leap directly into this phase. Since campaigns typically fail as a consequence, in order to achieve our goals, we need campaigns that are guided by a clear strategy and have well-defined objectives. Gaining traction is your primary aim in the Traction phase of the online marketing cycle. Boosting awareness, producing sales leads, or increasing direct appointments demands or purchases are all possible outcomes, depending on business objectives (Sundermeier et.al., 2020). Here, we will aim to establish a virtual connection with their audiences and potential customers in order to turn areas of interest into opportunities for dialogue.

Based on the above discussion regarding the supply chain and marketing management of DIGIBIZ, it’s important to determine the integral part of the process and the business decisions. Accordingly, Search Engine Optimization, Pay-per-Click, social media, display, mobile, and other digital marketing channels are all handled by a technology platform. The technology itself is distinguishable from the planning of this framework, and it's critical that we know the difference and know if we're paying a decent price for each one of these advertising networks. Remember that we're in this together for the long haul when dealing with advertising interactions (Neubert, 2018). Work as a force for good with a dose of humility, and use Procurement's participation in Marketing to illustrate the worth of Management to the rest of the company. Hence, A lot of our time is spent discussing how to acquire, engage, and delight consumers using inbound marketing strategies. Even so, we still receive a lot of inquiries regarding online marketing from individuals throughout the globe. As a result, we decided to respond to them. 

References

Johnson, M. (2018). Reinvent Your Business Model: How to Seize the White Space for Transformative Growth. Boston: Harvard University Press.

Junaidi, J. (2020). Impact of Digital Marketing on the Growth of E-Service Sales. International Journal of Psychosocial Rehabilitation, 24(01), 1219-1229.

Lisa, S., Ibrahim, D. Y., & Borges, G. L. (2020). The Success of Startups Through Digital Transformation. International Journal of Open Information Technologies, 8(5), 53-56.

Mogaji, E., Soetan, T. O., & Kieu, T. A. (2020). The implications of artificial intelligence on the digital marketing of financial services to vulnerable customers. Australasian Marketing Journal, j-ausmj.

Mukti, I. Y., Wibowo, A. P. W., & Galih, S. (2019). Lessons learned to increase the digital startups success rate. Global Business and Management Research, 11(1), 226-234.

 Neubert, M. (2018). The impact of digitalization on the speed of internationalization of lean global startups. Technology Innovation Management Review, 8(5).

Oliva, F. L., Teberga, P. M. F., Testi, L. I. O., Kotabe, M., Del Giudice, M., Kelle, P., & Cunha, M. P. (2022). Risks and critical success factors in the internationalization of born global startups of industry 4.0: A social, environmental, economic, and institutional analysis. Technological Forecasting and Social Change, 175, 121346.

Russell, R. (2016). Operations and Supply Chain Management. (9th ed). Hoboken: Wiley Ries, E. (2011). The lean start-up. London: Portfolio Penguin.

Sundermeier, J., Gersch, M., & Freiling, J. (2020). Hubristic start?up founders–the neglected bright and inevitable dark manifestations of hubristic leadership in new venture creation processes. Journal of Management Studies, 57(5), 1037-1067.

Teixeira, S., Branco, F., Martins, J., Au-Yong-Oliveira, M., Moreira, F., Gonçalves, R., ... & Jorge, F. (2018, June). Main factors in the adoption of digital marketing in startups an online focus group analysis. In 2018 13th Iberian Conference on Information Systems and Technologies (CISTI) (pp. 1-5). IEEE.

Terwiesch, C., & Cachon, G. (2019). Matching supply with demand: An introduction to operations management. (4th ed.) London: McGraw-Hill.

Wasserman, N., (2012). The founder's dilemmas: Anticipating and avoiding the pitfalls that can sink a start-up. Princeton: Princeton University Press.

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My Assignment Help (2022) DIGIBIZ - A Digital Marketing Essay. [Online]. Available from: https://myassignmenthelp.com/free-samples/ent302a-entrepreneurial-operations-and-growth/digital-supply-chain-management-file-A1DB35B.html
[Accessed 03 March 2024].

My Assignment Help. 'DIGIBIZ - A Digital Marketing Essay.' (My Assignment Help, 2022) <https://myassignmenthelp.com/free-samples/ent302a-entrepreneurial-operations-and-growth/digital-supply-chain-management-file-A1DB35B.html> accessed 03 March 2024.

My Assignment Help. DIGIBIZ - A Digital Marketing Essay. [Internet]. My Assignment Help. 2022 [cited 03 March 2024]. Available from: https://myassignmenthelp.com/free-samples/ent302a-entrepreneurial-operations-and-growth/digital-supply-chain-management-file-A1DB35B.html.

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