business communicationgroup writing projectbusiness plan writing assignment

That''''s why we created an online marketplace"Bookworm" where students can buy, sell and exchange everything they need for theirstudies including secondhand textbooks for courses from ther

THE UNIVERSITY OF DANANG

UNIVERSITY OF ECONOMICS

BUSINESS COMMUNICATION GROUP WRITING PROJECT Business Plan Writing Assignment

Lecturer: Lam Minh Quan Class: 46K01.1 Group 2:

Le Tran Ai My (Leader)Ngo Thi Dac Loi

Do Thi Hoang NganTran Le Ngoc Tram

Da Nang, May 6 , 2023

TABLE OF CONTENTS

I EXECUTIVE SUMMARY

II COMPANY DESCRIPTION

1 Overview of the company

2 History of the Formation and Development

V MARKETING AND SALES STRATEGIES

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or sell used books As a foreign website accessing the Thai market for the first time,our company has used a differentiation strategy and diversified advertising methodssuch as social networking platforms, car cards, or publicity to convey thefunctionality of the website to the consumer As a member of ASEAN, it is not toodifficult to penetrate the Thai market, where there are many similarities in terms ofculture and society Although Thailand has some political difficulties and culturaldifferences, we have carefully researched to avoid those risks and barriers.

II COMPANY DESCRIPTION

1 Overvie w of the company

Bookworm Co., Ltd is one of the few e-commerce companies operating in thesecondhand textbooks market in Vietnam, starting with the websitewww.bookworm.com in March 2010

Over the years, Bookworm has developed into a reputable middleman for buying andselling used textbooks, connecting buyers with sellers through extremely simple,convenient, fast, and safe transactions The company provides a secondhand textbookexchange service with all majors and essential stationery for students across the

country at affordable prices, which helps them save costs compared to buying newtextbooks while still enjoying the pleasure of reading.

Bookworm company has an office located at 71 Ngu Hanh Son, My An Ward, NguHanh Son District, Da Nang City

2 History of the Formation and Development

March 2010: During the second technology wave in Vietnam, Bookworm wasestablished with the mission of becoming an online marketplace for students tosell, buy, and trade textbooks based on the C2C (Customers to Customers)model

2013: Bookworm became one of the leading websites for trading usedtextbooks in Vietnam, with over one million monthly visitors

2015: Bookworm expanded its business to include various other study supplies

In addition to over 5,000 used textbooks, buyers could find other studyessentials on the site such as backpacks, pens, calculators, and more

2017: Bookworm was honored to receive the award for the Outstanding commerce Website and Service of 2017

E-2020: According to data recently published by Iprice Insight, Bookworm isranked in the top 5 for both website visits ratings, with an average of more than

8 million visits per quarter

3 Mission statement

The mission of the e-commerce application "Bookworm" is to make full use ofthe source of old books in order to protect the environment, avoid waste, and buyerscan access the books they need at reasonable prices From there, connecting buyersand sellers, gives users the experience of buying and selling secondhand textbooksonline safely, conveniently, easily, and quickly Thus, Bookworm is not only interested

in business but also concerned with environmental issues and bringing valuableknowledge resources to people in all parts of the country

Nowadays, Bookworm is making more and more efforts to meet the needs of users,actively contributing to bringing the culture of "reading" more and more widely,integrating into the culture and knowledge economy of the world

Inside the business:

- For leaders: Fair treatment, creating the best conditions and opportunities foremployees to develop; encouraging, motivating, and caring at the right time,right place; building a comfortable working environment, keeping a friendlyand open attitude to connect everyone in the organization; trainingemployees according to international standards

- For employees: Efforts to benefit the organization; work according tospecific and clear plans; constantly changing, actively contributing ideas;behave culturally in all situations; Always willing to learn, improveknowledge, and foreign language skills

Outside the business:

- For the law and government: Ensure all company activities are compliantwith the law

- For buyers and sellers: Respect mutual benefits, operate based on mutualbenefits, and put the interests of users first

III MARKET ANALYSIS

6 Overview of Thailand

According to the study, Thailand has the highest weekly percentage of internet usersbetween the ages of 16 and 64 who make purchases online (66.8%) Thailand isfollowed by South Korea, where internet shopping accounts for 65.6% of all retailsales

By the end of 2020, business-to-business (B2B) and business-to-consumer (B2C) commerce in Thailand will have grown from $33 billion in 2017 to $49 billion In thatyear, 58% of households were doing their grocery and other shopping online Theaverage annual customer spending on online purchases in 2020 of $1,738 was amongthe highest in Southeast Asia The numbers above show that it is easy for ourcompany to enter the Thailand market and our products will reach more customers.Regarding reading habits, Thailand was the second most-read country in the world in

e-2020 Thais spend an average of 80 minutes a day reading, up 14 minutes from theprevious study in 2015 Besides, for the past five years, the Thai government has beendeveloping Thailand 4.0, a value-based economic model that emphasizes social andenvironmental sustainability and is powered by innovation, creativity, and technology.Youth education is seen as essential to achieving this goal Hence, our website tradingpre-owned textbooks are totally suitable for this trend Mass production of books andpaper products requires a lot of lost trees Therefore, buying used books is a uniqueway of saving the lives of many trees and helping the environment By purchasingused textbooks, users are reducing paper consumption Ultimately, users will reducethe use of paper and support the environment

There is a sizable and expanding market for used textbooks in Thailand The need forutilizing old textbooks grows along with the number of pupils and student population.This gave rise to an opportunity of setting up a website where people could exchange,buy, and sell used textbooks Online shopping has become more convenient andconsumer confidence has increased with the rise in internet and mobile phone use, aswell as improvements to logistics and e-payment systems The government plans todevelop the newest digital application platforms to support and advance onlineoperations including e-government, e-payments, and the e-marketplace The ultimateobjective is for the locals to begin operating e-commerce for enterprises for theirgoods and services The adoption of digital wallets also is boosted by governmentsupport as well as rising smartphone penetration Additionally, social media isdeveloping into a significant advertising and sales channel in Thailand's e-commerce

industry Businesses may reach clients and promote their goods and services via socialmedia platforms like Facebook, Instagram, and Tiktok.

Thailand has seen a lot of political instability difficulties recently, which hascontributed to the country's economic crisis As a result, people's purchasing powerhas decreased, making it challenging to enter Thailand's business sector Consumerprotection and tax laws are two of the many strict regulatory criteria that apply toThailand's e-commerce industry Thailand's used textbook industry is rife withpirated, copyright-exempt, and fraudulent books If we cannot ensure the quality ofthe book or fail to take precautions to stop booms, displaying images of books that arefalse, could damage the website's reputation

Thai festivals take place throughout the year and Thai people are incredibly eager towelcome these big festivals such as Songkran (Water Festival), Visakha Bucha(Buddha's Birthday), Krathong (Festival of Lights), Accordingly, we can customizeour website's interface when the festivals arrive In addition, Thai people are famousfor their friendliness and hospitality through greetings and communication It isconsidered impolite to behave bad-mannered here Therefore, the website should have

some greetings to express friendliness to users when experiencing our website Most

Thais have nicknames Thai nicknames are not only expressions of endearment usedamong family members and close friends but are also entwined with the very essence

of being Thai There might be a number of users who love being called by theirnicknames Hence, our website will interact with our users with their usernames to beclose to them.

According to Hofstede Insights, Thailand receives a score of 64 on the UncertaintyAvoidance Index, demonstrating a preference for avoiding confusion Our website willprovide clients with clear and detailed information regarding the purchasing andselling processes as well as book information in order to minimize this level ofuncertainty

In Thailand, people value convenience and immediate access to services To meetconsumers’ demands in real-time as they search for immediate answers and services,Bookworm has a live chat tool that connects buyers with sellers Moreover, our searchtool has automatically suggested keywords if the user's searches don’t contain theexact same words Besides, online marketing channels and marketing strategiesimpact the consumer's purchase intentions in terms of internet advertising, ratingscores, and online reviews Regarding the marketing channels, our website will usethe most popular social networking platforms among students in Thailand to reach alarger number of customers Regarding marketing strategies, Bookworm has sellerstore reviews and product reviews where buyers can leave feedback and ratings ontheir shopping experience and product quality so that Bookworm can be perceived as

a transparent and trustworthy online marketplace for everyone to trade Thecompatibility of payment methods, delivery, and aftersales services also significantlyaffect consumers' purchase behavior Bookworm will set up a variety of paymentoptions, provide a visual indication of order status and ask for feedback We look afterevery step of our customer's journey to guarantee a seamless user experience

8 Market competition

g.

Main competitor (secondhand books' store and website): Dasa Books

Opened in 2004, Dasa Books is the biggest secondhand bookshop in Bangkok,Thailand for people to buy, sell and exchange secondhand books They have over

18000 books in stock in many categories The books are written in English andvarious European languages.

Process The sellers e-mail a list

of the books that they

have, then see how much

Bookbyte offers for it

Get access to thewebsite, search forbooks, add books tothe cart, and confirmthe order

Buyers can bringbooks less than 6months after thepurchase date, thatwere bought fromDasa back toexchange for othertitles

Price - The sellers can sell

books for cash or

exchange them for credit

to buy things in the shop

- The price paid (or credit

amount given) per book

depends on factors such

as book condition, the

original publisher's price,

the publication’s country,

book size, and the book’s

- The exchangerscan exchangebooks for cash orfor credit:

+ For credit: astore credit of

up to 50% ofthe pricebuyers paid atDasa

+ For cash: thecash price is20% less thanthe creditamount

$2,97) for larger

size paperbacks

Payment Sellers have to directly

e-mail for more

information

- All book orders must

be pre-paid by banktransfer to theBangkok Bankaccount beforeshipping

- They do not acceptcredit or debit cards,PayPal, US dollars, orLao kip

Exchangers have

to directly workwith the shop formore information

$2,97)

+ Thai Post: orderswill be shipped onlytwice each week (onTuesday and Friday),only about 50($1,48) via RegisteredThai Post for 3-4paperbacks

Display No official website for

selling

No automatic process for

selling books, mostly

Modern displayLess informationabout the books (justhave the title of the

No official websitefor exchanging

No automaticprocess for selling

manually books, author, and

price)

books, mostlymanually

Other competitors:

- Local secondhand bookstores such as Book Lovers, Angel Tomorrow, Elite

Book House, Dilok Books, Chatuchak Market These stores/places arepopular among local people because of the plentiful cheap used books instock However, the categories are limited, mostly fiction books, travelbooks, magazines, They have few textbooks for students In addition, thebooks are disorganized and not arranged according to the categories whichmakes it hard to find the books Besides, everyone has to go to the store topurchase books, which is suitable for the locals only

- Bookstores such as Open House, River Books These stores have a variety ofbook categories but not many textbooks Since they sell new books only, theprice of them must be higher than used books Additionally, everyone has toreach out to them directly to purchase books, which makes it inconvenientfor people outside the city

- Online and offline bookstores such as Asia Books Asia Books is Thailand'slargest English and Thailand bookshop chain offering a variety of bookcategories such as arts, business, reference, test prep, fiction, non-fiction, and non-books such as book-related gifts, stationery & accessories,notebook, They don't have specific categories of textbooks for pupils orstudents The price of new books must be higher than secondhand books.However, they usually offer a 5- 25% discount per book (normally 7%) andhave a free delivery policy for customers Besides, they have an easy-to-useonline website for purchasing books

h.

Books:

- Our website mainly focuses on textbooks We will provide a diverse variety

of subject areas from many different universities to meet the needs ofstudents

Interface:

- Our interface is easy to use for both buyers and sellers There is anautomated, clear, and specific process to make buying and selling usedbooks online more convenient.

- The website will have a well-planned information layout

- The categories are well-organized to find books

- We provide detailed book information including the title, author, price, bookcondition, book description, and real pictures

Price:

- Good shipping fee policy

- We will offer a variety of payment methods and allow COD shipping

- Sellers are free to set prices for their books Hence, they can get a betterprice or sell their books faster

Advertising policy:

- We have policies in place to help sellers sell books faster and get moremoney

- We frequently offer attractive discounts and promotions to attract buyers

IV ABOUT BOOKWORM WEBSITE

9 Goals

The website is built to create a place to connect students across the country, providingthem with an easy, fast, convenient, and economical experience when shopping onlinefor secondhand textbooks and other academic essentials “Everything in yourbackpack” Through that, we can contribute a small part of our efforts toenvironmental protection by reducing resources to produce new books every year

10 Key features

After clicking on the website link, in front of the users will be the homepage with themain modules arranged scientifically and clearly such as Home, About us, Products,Search, Contact

In the Products module, users will choose to go to one of the two following cards:

Secondhand Textbooks, and Stationeries