Project

.docx

School

Rise College, Gulf Center, Bahawalpur**We aren't endorsed by this school

Course

ACCA 1213

Subject

Information Systems

Date

Dec 24, 2024

Pages

Uploaded by DrSnake4313

Question 1: Business Model CanvasCustomer Segments:Children of all agesParents/GuardiansEducatorsToy CollectorsValue Propositions:Convenient and safe online shopping experienceWide range of toys from various brandsEngaging online experiences (E-Play, online events)Personalized recommendations and customer supportExclusive online deals and promotionsChannels:Company WebsiteSocial Media Platforms (Instagram, Facebook, YouTube)Email MarketingOnline AdvertisingPartnerships with Toy InfluencersCustomer Relationships:Personalized recommendationsOnline customer support (chatbot, email, phone)Loyalty programs (E-membership)Community building (online events)Revenue Streams:Sales of toys and other merchandiseMembership feesAdvertising revenueLicensing feesKey Activities:

Product sourcing and procurementOrder fulfillment and deliveryWebsite development and maintenanceMarketing and advertising campaignsCustomer relationship managementKey Resources:Technology infrastructure (website, CRM system)Inventory management systemStrong brand reputationSkilled employees (customer service, marketing, logistics)Partnerships with toy brands and influencersKey Partnerships:Toy manufacturers and distributorsLogistics and delivery partnersTechnology providersInfluencers and content creatorsCost Structure:Website development and maintenance costsMarketing and advertising expensesInventory costsLogistics and delivery costsCustomer service costsEmployee salaries and benefitsQuestion 2: Innovative SolutionSuggested Solution:AI-Powered Personalized Play Recommendations:Develop an AI algorithm that analyzes a child's age, interests, and play patterns to recommend personalized toy combinations and activities. This could be achieved through interactive quizzes on the website, tracking playtime with connected toys, and analyzing social media interactions.Relation to Hamleys' Value Proposition:

Enhanced Customer Experience:Offers a unique and valuable service by providing tailored recommendations that foster creativity and engagement.Stronger Brand Loyalty:Builds deeper connections with customers by demonstrating a deep understanding of their needs and preferences.Increased Sales:Drives sales by suggesting relevant and appealing products, leading to higher average order values.Type of Innovation:Incremental Innovation:This solution builds upon existing capabilities (personalized recommendations) by leveraging AI to enhance the customer experience and increase the value proposition. It represents a gradual improvement over traditional recommendation systems.Justification:The solution leverages existing data and technology (AI) to improve an existing service (personalized recommendations).It focuses on enhancing the customer experience and increasing customer engagement, aligning with Hamleys' core values.The solution is relatively low-risk as it builds upon existing capabilities and can be iteratively improved based on customer feedback.Question 3: Evaluation of Digital Platform Success3.1. Two Key Metrics:Customer Lifetime Value (CLTV):This metric measures the total revenue generated from a singlecustomer over their entire relationship with Hamleys. It considers factors like purchase frequency, average order value, and customer retention rate. Justification:CLTV provides a holistic view of customer value and helps assess the long-term impact of the digital platform initiatives.Net Promoter Score (NPS):This metric measures customer loyalty and advocacy by asking customers how likely they are to recommend Hamleys to others on a scale of 0 to 10. Justification:NPS provides valuable insights into customer satisfaction and brand loyalty, which are crucial for long-term success.3.2. Analysis of Key Metrics:Average Revenue per Transaction:oJanuary: 25,00,000 / 72,250 = ₹34.60oFebruary: 40,00,000 / 74,670 = ₹53.57oMarch: 35,00,000 / 90,000 = ₹38.89oApril: 45,00,000 / 1,22,500 = ₹36.67

oMay: 40,00,000 / 1,13,750 = ₹35.19% of Repeated Transactions:oJanuary: 21,675 / 72,250 = 30%oFebruary: 23,894 / 74,670 = 32%oMarch: 27,900 / 90,000 = 31%oApril: 37,975 / 1,22,500 = 31%oMay: 34,125 / 1,13,750 = 30%Inferences:Average Revenue per Transaction:While there was an initial increase in February, the metric hasfluctuated since then. This could indicate a need for further analysis of product pricing and promotional strategies.% of Repeated Transactions:The percentage of repeated transactions has remained relatively stable, suggesting that customer retention efforts are effective. However, there is room for improvement in driving repeat purchases.Summary of Platform Performance:Positive Trends:oSignificant increase in sales revenue from January to April.oConsistent growth in the number of transactions.oStable percentage of repeated transactions.oDecreasing bounce rate, indicating improved user experience.oIncreased average time spent on site, suggesting greater engagement.Areas for Improvement:oFluctuations in average revenue per transaction.oFurther optimize website navigation and product search to reduce bounce rate.oExplore new marketing channels and strategies to attract new customers.oImplement targeted campaigns to encourage repeat purchases.oContinuously analyze customer feedback and make necessary adjustments to the platform and customer experience.Note:This analysis is based on the provided data and assumptions. A more comprehensive evaluation would require further investigation and analysis of various factors, including competitor analysis, market trends, and customer feedback.

I hope this comprehensive response addresses all the questions and provides valuable insights into Hamleys' digital business strategy.