In Year Two, The Scarlet Tassel plans to develop a Web presence and in Year Three, add e-commerce to its business model. The Scarlet Tassel's website, www.scarlettassel.com and www.thescarlettassel.com, will be a secondary channel of business serving as virtual business card and portfolio for the company, as well as its online "home."
The website will showcase the product offer available for purchase, and provide design and trend information appropriate to the home decorative market. Additional tips and inspirational ideas will focus on gifts and gift giving. To further show off its expertise, The Scarlet Tassel website will provide a resources area, offering articles, research, product information and website links of interest to its customers.
The Scarlet Tassel website will mirror the image and branding elements showcased in the store and at the same time, keep up with the latest trends in user interface design. The key to the website strategy will be combining a well designed front-end, with a back-end capable of capturing "hits" and customer data for use in future marketing endeavors.
Market strategy in an Internet retail business depends on recognition of expertise by the consumer. For The Scarlet Tassel, it will start with our existing brick-and-mortar store customer base, informing them of our Internet presence and encouraging their word-of-mouth recommendations to others. Further awareness will be heightened by utilizing search engine marketing, banner advertising, and affiliates.
Costs that The Scarlet Tassel will expect to incur with development of its website include:
Development Costs
Ongoing Costs
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