TheHipHopRecords is an e-commerce website selling Hip Hop and RnB vinyl records. Although many Internet companies have recently failed, the Internet is still poised to support e-commerce retailers.
Most of the dot-coms failed because of too easy access to capital and unproven business models with no true revenue streams. TheHipHopRecords will overcome these problems with an easy-to-use website and an efficient distribution system.
The majority of the start-ups which were Internet-based started their business model on the assumption that the first to market, had the best chances of survival.
This reasoning was based on the belief that gaining customers and market share were the most important things a business could do and the first to market had the best chance of achieving this.
While these are indeed important activities, they are by no means the absolute priority. The whole technology fallout indicates that a proven revenue-generating business model is more important than sheer customers and market share.
TheHipHopRecords will be a website that will process vinyl record orders and collect the payment online. The order will then be sent to the required address to be shipped.
TheHipHopRecords mission is to provide the finest service in vinyl records using the Internet and to lower the consumer’s cost. TheHipHopRecords exists to attract and maintain customers. When TheHipHopRecords adhere to this maxim, everything else will fall into place.
Customer care is at the heart of all successful companies and can help develop a loyal customer base and improve relationships. Loyal customers come back time and again; they will also promote the business through word-of-mouth and recommendation.
By building a long-term customer base, TheHipHopRecords will reduce the costs of looking for new customers. Good service helps turn customers into ambassadors for a business.
Thus TheHipHopRecords will offer free postage and packaging for a certain number of items and free postage and packaging for locations within the UK.
TheHipHopRecords under-promises and over-delivers. TheHipHopRecords encourages continuous feedback whilst being prepared to make improvements.
TheHipHopRecords exists to attract and maintain customers. When this maxim, everything else will fall into place.
