5 question, E-commerce case study.
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E-COMMERCE CASE STUDY
Aims of the module:
- To enable students to understand the complex and powerful technological blend and planning that facilitates E‐Commerce.
- To evaluate new E-business initiatives and assess the risks associated with this.
- To have an understanding of business‐to‐consumer as well as business‐to‐
business markets and emphasize legal and ethical issues.
- Intended Learning Outcomes:
1. Identify relevant advances in Information and Computing Technology (ICT) and explain how they can be adopted by business.
2. Evaluate and recommend suitable strategies for the successful introduction of e‐business and e- commerce into an organisation.
3. Systematically identify and critically evaluate the main components of an e‐business model. 4. Compare and contrast different E‐business models.
5. Explain the importance of establishing the business and/or customer need before selecting the platform for delivery
6. Be aware of the wider cultural, ethical, social and legal issues relating to e‐commerce.
Rent the Runway business case
Ecommerce is a rapidly growing industry – it has been for several years now, and growth will only continue to accelerate in the coming years.
Also, the sharing economy’s explosive growth has astounded even optimistic market pundits. On the one hand, there are now many hundreds of sharing economy platforms operating in almost every sector and activity around the world. “Access over ownership” is a shift that has taken root, as digital and mobile technologies make it ever easier to access goods and services on-demand. It is no longer a millennial preference, but a part of modern society.
Rent the Runway is one of the sharing economy players who has been named the ninth most disruptive company in the world together with Airbnb, SpaceX, and Uber. The company currently does more than a hundred million dollars a year in revenue, and it is still growing. It is a clothing rental system and as the name suggests, they allow women to rent designer dresses and accessories, fresh off the runway, for any occasion they choose.
Rent the Runway provides a solution that their customers and the industry really need. It could help customers spend lesser to wear more, reduce fashion wastage and help designers reach a broader audience.
You are requested to answer 5 questions below. All questions are mandatory.
- Critically analyse the Rent the Runway business model. After collecting information about the case, use the appropriate frameworks provided by the “E- commerce and E-business” (Gartner Group, etc Strategic management and entrepreneurial frameworks) to describe the rationale of how the Rent the Runway organization creates, delivers and captures its value. (20 points)
- Identify and discuss the clothing retail and rental business trends in the country where you attend the course and their likely impact on the domestic clothing market. Identify 3 Rent the Runway possible competitors (2 direct and 1 indirect) in the city where you live, examine their competitive advantages and use the SWOT and a positioning GAP map tool to display the results of your comparative analysis. What are the key elements of the Rent the Runway’s Unique Selling Proposition and its successful business strategy features? (20 points)
- In your opinion, is Rent the Runway a sustainable business model? How does the firm’s model relate to the concept of Circular economy and what are its advantages in the case of Rent the Runway. Please explain your reasons demonstrating your critical understanding and your capability to use course material and evaluate, analyse and reflect on key issues. (20 points)
- Rent the Runway represents an example of company creating value by providing customers with the opportunity to switch form ‘owning’ to ‘accessing’, from possessing a clothing to accessing mobility services. Can you think of examples of other companies using digital technologies to bring to market similar transitions from property to use in a sustainable manner? Please make a couple of examples and explain similarities and common success factors. (20 points)
5. In order to create a competitive advantage, attract newcomers and increase the Runway represents an example of company creating value by providing customers webpage visiting time / retention. Please write/design the content of the opening page of the website and enable the visitors to understand what is in it for them. (20 points).
After having answered the questions on a paper, collect your answers on a concise power point (about 10 slides) to be presented in class.
STRUCTURE AND FORMAT OF THE PROJECT:
This is an individual project. Students are expected to answer the required questions in Essay form. A simple answer will not be considered satisfactory.
Make sure your writing is precise and to the point all your sources are adequately referenced. Your paper should not exceed 2000 +/-10% words per student, excluding appendices
Format of the Project:
1. The project should display a coherent structure: title page should include student name, module name, lecturer name, date and school name followed by contents page, introduction, executive summary, methodology, findings, analysis, conclusions, recommendations, referencing and appendices.
2. The project should be prepared as a neatly typed Word document (Times New Roman 12 points), with double spacing and page numbering.
3. All projects will be discussed in class in a power point presentation of no more than 20 minutes. The presentation should be a summary of your work. The powerpoint presentation should be printed 4 slides per page and submitted attached to your project, otherwise submission will be rejected.
- Tables or work/data taken from other sources may be included in an appendix.
- All sources must be referenced in the text and a full bibliography must be provided (including visited websites) in the Harvard style referencing system. Paraphrasing or direct quotes taken from other sources must be clearly indicated with citations. No footnoting!
6. Students are reminded that depth, relevance and variety are the crucial elements of quality research. (Wikipedia is not considered to be a relevant source of information; any students referencing Wikipedia will be deducted marks! Alternatively, if you find information on Wikipedia use the original sources listed at the bottom of the article)
7. Students are reminded to use valid and peer-reviewed references to support their work. Websites should only be used if they represent an established source and only for facts and figures. Students should make the most of academic and practitioner books and articles.
8. Submission should be by the deadline below and should include a hard copy to the lecturer and an electronic copy to your academic coordinator
9. All work must conform to University regulations on Cheating, Collusion and Plagiarism’ as described in your program handbook. You are advised to use the Harvard referencing style
and avoid plagiarism.
BUSINESS MODEL EXAMPLE ATTACHED