Reference no: EM132400024
Assessment 1: Participation Activity 2 - Elevator Pitch
Related Course Objectives:
1. Develop successful E-Commerce strategies to enhance the venture's market reach to local, national and international markets
2. Respect the sensitivity of confidential information received through E-Commerce and treat with same appropriately
Assignment Description and Instructions:
You are required to develop an elevator pitch to deliver to the CEO of a fictitious company. An elevator pitch is a very short sales pitch used to quickly and simply sell something to someone. It should be delivered in the time span of an elevator ride, that is, 45 secs to about 2 mins, hence the term "elevator pitch".
1. You are a millennial recently hired to run a small marketing unit in a small local retail family business (about 20 employees) that has been established since 1998. The business, BG & Sons, has not been doing so well in recent times due to a loss in revenue from reduced sales. After doing some investigation, you have discovered that the business' competitors are all thriving due to an uptake in their e-commerce activities. The CEO of BG & Sons, Mrs. Green, is reluctant to go this e-commerce route for several reasons; she claims that: Both she and her employees have little knowledge of e-commerce and its potential and so would not know where to start.
2. She is quite comfortable continuing in the traditional way and furthermore, has no money to sustain an e-commerce venture.
3. She is suspicious of going online due to security concerns.
4. As a recent graduate of an e-Commerce course, you are brimming with ideas for why Mrs. Green should seriously consider going the e-commerce route.
5. Develop a 45-seconds to 2-minutes, persuasive speech and an infographic (a visual chart or diagram) to support the speech, to convince Mrs. Green of why she should embrace e-commerce for her business.
6. You will present your elevator pitch with infographic (a visual chart or diagram) to your peers. You must include the following information on your infographic when presenting to your peers:
- Background: Origin of your idea and the problem you are trying to solve.
- Industry size/market opportunity: Brief facts about the size of the market.
- Revenue model/numbers/growth metrics: Insight into your company's revenue model and results thus far, how fast it is growing, and early adopters, if there are any.
- Funding: The amount of funds you are seeking and what it will help you achieve.
- Exit strategy: How your investors will achieve a return on their investment.
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