Digital Solutions Business Plan: Project Analysis and Strategy

This business plan outlines a digital solutions business aimed at helping physical businesses establish an online presence to increase market share. The plan includes a vision to transform businesses digitally, with objectives to meet customer needs and expand internationally. It details market analysis using the STP model, focusing on segmentation, targeting, and positioning. The plan leverages the growing trend of digital transformation, with the founder's experience in digital marketing. It analyzes competition and develops a marketing plan using the 4Ps (Product, Price, Place, Promotion), along with a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The business will operate in the United Kingdom initially and plans for expansion, with promotion through digital platforms. The plan addresses the inherent risks of starting a new business and emphasizes the importance of a strong promotional strategy and adequate investment. The plan also includes the business's goals, which are to understand market needs through research and enhance brand recognition.

Digital solution is a business that will provide assistance to
other business to have online presence. This helps the
business that have their operation only through physical
platforms to go online and attract more customers (Hanlon,
2018). This will help the business to enhance the market
share by serving more customers.
Vision
“To provide digital solution for transformation of physical
business to online mode.”
Objectives
To cater the needs and wants of customers.
To expand business in 3 other countries in next 2 years.
Goals
To understand needs and wants by conducting popular
market research.
To enhance marketing activities and brand recognition.
Business Plan
Background and expertise
As the world is turning digital it is vital for
business to have presence on online modes. Its aim is to
transform the business and provide them digital solutions.
Nowadays artificial intelligence is used by business and in
UK it is expected that it would be around 60 billion dollars
in next five years (Chaffey and Smith, 2017). It is an
opportunity for business to have presence on online
platforms.
I have working experience of 5 years in digital
marketing company. where I understood the importance of
digitalisation. I came to know about the opportunities and
got idea to help others in transforming businesses online.
SWOT Analysis
Strengths
New and innovative idea: It is new idea
that will help company to attract more customers as this
for the benefit of customers.
High Availability of skills: As there is
requirement of high skills to perform the business of
digital marketing. Digital Solutions recruit talented and
skilled staff that can perform the business operations
effectively.
Weaknesses
Limited budget: The business is new
and has limited money to start. The availability of finance
for new businesses are low.
Resistance to Change: As people are
resistant to change at this an innovative idea so
customers will take time to accept this idea of digital
transformation.
Opportunities
Fill the gap in the market: This is
required by the market to have online presence of
businesses (Menezes Tapioca, 2020). Digital solutions
have grabbed the opportunity and is planning to fill the
gap.
Access to a new marketing tool:
Digital marketing is a new concept in the marketplace.
This is opportunity taken by business by using latest tools
and techniques to serve the customers.
Threats
New competition: As the business is started with an
innovative idea. There are chances that the business will
be successful and profitable this will enhance the
competition and new players will start the same business.
Risk: Starting a new business is always risk. As the future
is uncertain it can be determined if the business will fail or
become successful.
Understanding of market, target market
It is important to know about the market
that the business wants to serve. The STP Model will
help to define the target market of “Digital Solutions”:
Segmentation is a process of dividing the
heterogeneous population into homogeneous groups.
There are various basis through which a business can
segment its customers that are geographical in which
the customers are divided according to location.
Another way is demographic segmentation which
covers income, age gender etc. In relation to Digital
Solutions they can segment on the basis of size of
business (Yamin, 2017).
Digital solutions will target all the small physical stores
that do not have online presence. Targeting is the
process of selecting the best and appropriate group
that is identified in segmentation.
Positioning is an important function as it involves
setting the image of business in the mind of the
customers. Digital Solution is aiming to set a image of
changing the market and trend by establishing and
transforming the offline business on online mode.
Place: The business is a new start up and will operate in
overall United Kingdom. Along with that company is
planning to expand the business in 3 different countries in
next three years.
Promotion: Promoting the business is
most important task for a business. To achieve success
and enhance it is important that the promotional strategy
adopted by business is strong (Muhonen, T., 2017). Digital
Solution will promote its business through digital
platforms like social media channels like You tube,
Facebook, Instagram to attract and reach more and more
customers.
It is important to have adequate investment to achieve
success. New business is uncertain so it is vital to
Competition, marketing plan(4P's)
Competition is present at every level of
business. It is important for businesses to identify the
competitors of the business. As this is a new and innovative
business idea that there are no competitors of the business.
This is time when business can formulate strong position in
the market by providing quality products and services. If
'Digital Solutions' will tell the benefits of online
transformation the business will be able to become
successful (Mononen, and et.al., 2019). But it can be said
that if the business will be successful then new entrants will
enter the business. That will give rise to competition in the
market. So it is important to establish strong image in the
market that can not be hampered by competitors.
The four P's are important for a business.
Marketing mix helps the business to achieve its objectives.
It helps to promote the business. The 4 P's of marketing in
relation to “Digital Solutions” are described below:
Product: The product and service is the main
element of a business. In relation to “Digital Solution” the
business provides transformation of all the offline stores to
online platforms.
Price: The success of business depends on
the pricing strategy set by them. This is new business and