Modelling an online retail start-up: devising a marketing strategy for PenthouseRepublic.com

Student, A. (2015) Modelling an online retail start-up: devising a marketing strategy for PenthouseRepublic.com. Undergraduate thesis, University of Chichester.

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Abstract

This research project was commissioned to provide assistance and consultancy to the
founder of Novelgroup, who intends to launch the internet gift retailer
PenthouseRepublic.com in July 2015. As the market planning phase commences,
PenthouseRepublic.com requires the formulation of a coherent, cost-effective marketing
strategy in order to successfully penetrate the online market and establish a clear strategic
direction.
After reviewing a number of trends within the online marketplace, the researcher uses the
theoretical foundations of the ‘marketing mix’ to devise a contextual combination of
marketing mix components which would serve to outline the objectives of the research. The
researcher uses the theoretical principles within the selected marketing mix components to
gauge the rate of market diffusion for three shortlisted products, anticipate a suitable
pricing strategy, determine desirable website features, and devise a promotional mix. This
was achieved by a mixed method research design that involved quantitative and qualitative
empirical data collection.
The report concludes that the founder should continue enlist each Item (A, B, and C) (As
seen in Appendix A, B, and C) as a product line for the launch of the website. Results also
provide credible evidence that PenthouseRepublic.com should pursue a market skimming
pricing strategy, combined with the principles of a dynamic pricing strategy. Research
indicates the viability of integrating web features such as image zoom and rotation, product
demonstration videos, and live chat assistance to name a few. Further evidence suggests
that the founder should seek to implement social media marketing, search engine
marketing, and email marketing as an initial promotional mix.
The report also reveals that the products and the brand are most popular between the ages
of 21-30, predominantly male, and reside within socioeconomic category B, C1, and C2 of
the NRS Social Grading System (NRS, 2014).

Item Type: Thesis (Undergraduate)
Uncontrolled Keywords: Marketing
Subjects: H Social Sciences > HF Commerce
H Social Sciences > HG Finance
T Technology > T Technology (General)
Divisions: Departments > Business School
Undergraduate Dissertations
Depositing User: Steve Bowman
Date Deposited: 29 Jul 2015 11:09
Last Modified: 13 Aug 2015 13:30
URI: http://eprints.chi.ac.uk/id/eprint/1469

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