Kustosik by Maria Moreno

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Final Business Proposal for Kustosik Maria Jose Moreno DMMA 503 FLEX – Information Management and New Technologies Miami International University of Art and Design Dr. Mariam Elias

2 Contents Background ……………………………………………………………………………………… 3 Vision and Mission ……………………………………………………………………………… 3 Business Model ..………………………………………………………………………………… 3 Business Model Canvas .………………………………………………………………… 4 Product/Service offered …….…………………………………………………………………… 5 Revenue Model …….……………………………………………………………………………. 5 Target Audience …….…………………………………………………………………………… 7 Target Market …….……………………………………………………………………… 7 Buyer Persona …….………………………………………………………………………7 Market Analysis …….…………………………………………………………………………….8 SWOT Analysis ……….………………………………………………………………………. 11 Branding …….………………………………………………………………………………….. 11 Information Flow Diagram ….…………………………………………………………………. 14 Website …….…….………..…………………………………………………………………… 19 Marketing and Promotional Plan …….………………………………………………………… 27 References …….……………………………………………………………………………….. 29

3 Final Business Proposal for Kustosik E-Commerce is having a booming, the best we can do is take advantage of it and what it offers. This is why we have created Kustosik. Kustosik will be an online curated jewelry store. We will sell fashionable unique jewelry pieces at affordable prices. To guide us in the creation of the business and a better understanding of it, we have created the following business proposal.

Vision Our company’s main vision is: To be always the desired store people reach to find the most unique pieces of good quality jewelry.

Mission Our company’s main mission is: To create a vibrant shopping experience offering unique curated jewelry products and delivery services that also create an online in-store experience.

Business Model The business model is a framework that will find a systematic way to create long-term value for Kustosik and structure tool that will organize the business. This holistic framework will help understand, design, and test the business assumptions in the market. We used the business model canvas as a guide to creating our complete business model framework. This canvas leads to insights about the customers that Kustosik is serving, the value propositions, the channels used, and understanding how the company will make money. It is a shared language in business used to describe, visualize, assess, and change business models. The business model framework will benefit Kustosik to understand how the organization will create, deliver, and capture value (BMI, 2021).

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5 Product/Service offered At Kustosik, we curate jewelry from merchants and wholesalers by carefully selecting unique pieces that are one of a kind and hard to find somewhere else. Customers can spend hours trying to find jewelry. Sometimes there are too many products available in the market.

This makes it difficult for the customer to make a selection. Other times there might not be too many products available or, customers find pieces that they like but are too expensive for the quality. At Kustosik, we solve this problem by providing our customers unique products that they can shop online through social media, our app, and our webpage with the goal of opening a store in the near future. Our products will be gold plated, to up with quality standards and have a price range of $15-$75 to promote affordability.

We provide the convenience of shopping curated products online and have them delivered to the customer’s door. At Kustosik we will try everything in our hands to give the in-store shopping experience through an online transaction. Online shopping has become a habit for many consumers. After the COVID-19 pandemic, people are now used to shopping online. The pandemic changed consumer behavior forever. According to the World Economic Forum article, more than 50% of the global consumers who took part in a survey about consumer behavior in June 2021, said they had used digital devices more frequently than they had used six months prior (Torkington, 2021). For this reason, we need to provide the best online shopping experience to be more attractive than competitors by having clear product pictures, a user-friendly app and website, and efficient delivery services.

Revenue Model: The revenue model will serve as a fundamental building block for Kustostik. It is part of the business model and it describes the economic value customers are willing to pay for the

6 jewelry and delivery services. There are two types of revenue models, symmetrical and asymmetrical. We will be using the symmetrical business model. In the symmetrical transactional business model, users equal consumers. This means that is a business-toconsumer rather than a business-to-business.

There are several advantages and disadvantages of transactional revenue models. Some advantages include that it is a direct way of generating revenue. Kustosik will provide the jewelry and delivery, and customers will pay for the product and delivery service. Consumers are attracted to the simplicity of the experience and the set of options of jewelry available at Kustosik. Some disadvantages include that there is direct price competition by competitors and price deterioration. Equaling to less money made by Kustosik and our competitors who use the same revenue model.

7 Target Audience: Target Market Our target market are Gen Z and Millennial females who are looking for trendy good quality jewelry that will not leave them bankrupt. These women know that accessories are the way to go when it comes to styling. They like delicate pieces that look like a million dollars but are not. These women are passionate about fashion, social, have a busy lifestyle, and are interested in good quality. They are not married and are hard-working women who live in Miami, El Salvador, and Panama.

Buyer Persona

Our buyer persona is Mia, she just graduated college and is a Marketing Analyst at a small business of 25 in Miami, FL. Mia is 22 years old and has many social gatherings in which she wants to look her best. Mia knows that jewelry trends come and go so she does not want to spend a lot of money on them. Mia is also tired of losing time at the boutiques that offer a broad range of jewelry styles and not being able to find anything after browsing around. Mia loves the convenience of social

8 media shopping because she can browse items at her house or on her free time, have them delivered, and pick them up at the time she is available.

Market Analysis: Market analyses are important for the business. It is a qualitative and quantitative assessment of a market. It looks into the size of the market by analyzing customer segments and buying patterns, competition, and its economic environment in terms of barriers to entry and regulation (How to do a market analysis for a business plan, 2021). To have a better understanding of our competitors, we analyzed and created the following Competitor Analysis Charts.

Competitor Analysis Charts

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11 SWOT Analysis SWOT Analysis stands for Strengths, Weaknesses, Opportunities, and Threats.

Strengths and Weaknesses are internal for Kustosik, while Opportunities and Threats are external things that go outside of your company. The following chart is the SWOT Analysis for Kustosik.

SWOT Analysis for Kustosik

Branding Products and services can be anything and brands are the images people have in mind when thinking about a product. Without the correct branding and commercialization, products will not be sold and brands will not make profits. Branding is a process that gives meaning to products. It creates and shapes a brand in the consumer’s mind. Branding is a set of strategies

12 put together that is designed for companies to help people identify products to their brand.

With the goal of giving people a reason to choose their products over the competitor’s products. At Kustosik, we want to attract and retain customers by selecting products and delivering them in a way that is aligned with what the brand promises. There is a lot of competition going on in the jewelry and accessories industry. We want to make is processes easier for consumers by providing them with a decision-making shortcut when they feel indecisive about products. Branding will also help consumers distinguish our products from the competition (Marion, 2021).

Branding for Kustosik

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Information Flow Diagram Data Flow Diagrams are a way to visualize information flows within a system. Clear data flow diagrams can show system requirements graphically. They can be manual, automated, and even a combination of both. Data Flow Diagrams show how information enters and leaves a system, what information is changed, and where the information is stored.

It can be used as a communication tool by businesses, system analysts, and a person who plays a part in redesigning the system. Data Flow Diagrams begin at level zero with a context diagram that represents the whole system. It is then elaborated to level one with a diagram of lower-level functions. It then evolves to levels two, three, and four, depending on the analysis required (Enterprise, 2012).

15 We have created an overview of Kustosik’s process for it to be analyzed. We want that our data flow is understood by a wide audience but still describe the business flow. To do this correctly we start by listing all the types of information needed by our company divided into levels and identifying the source of information, who needs to use it, and who should authorize access to it.

Zero Level Data Flow Diagram List of Kustosik It is a basic overview of the Kustosik Online Jewelry store process. Designed to be an easy way of viewing payments, billing, and shipping.

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Managing the products o Source of information: database o Who needs to use it: product management team (myself) o Who should authorize access to it: myself

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Managing the categories o Source of information: products in stock o Who needs to use it: category management team (myself) o Who should authorize access to it: myself

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Managing the sales o Source of information: Wix website analytics that tracks daily sales o Who needs to use it: sales management team (myself) o Who should authorize access to it: myself

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Managing customers o Source of information: Wix customer database o Who needs to use it: customer management team (myself)

16 o Who should authorize access to it: myself -

Managing payment methods o Source of information: Wix website payment method providers o Who needs to use it: system user management team (myself) o Who should authorize access to it: myself

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Managing bills o Source of information: automatically generated by Wix every time a purchase is made o Who needs to use it: sales management team (myself) o Who should authorize access to it: myself

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Managing shipping methods o Source of information: Wix shipping methods, plus creating an account with a U.S. shipping provider to lower costs o Who needs to use it: sales management team (myself) o Who should authorize access to it: myself Zero Level Data Flow Diagram of Kustosik

17 First Level Data Flow Diagram List from Kustosik The first level of the Data Flow Management for Kustosik will show the systems divided into subsystems which are the processes. Each of these deals with data flows related to an external agent with the final purpose of providing the functionality of Kustosik as a whole.

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Processing product records and generating reports o Reports generated by-product management team

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Processing category records and generating reports o Reports generated by the category management team

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Processing sales records and generating reports o Reports generated by the sales management team

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Processing customer records and generating reports o Reports generated by the customer management team

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Processing payment records and generating reports o Reports generated by system user management team

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Processing bill records and generating reports o Reports generated by the sales management team

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Processing shipping records and generating reports o Reports generated by the sales management team

18 First Level Data Flow Diagram of Kustosik

Second Level Data Flow Diagram List for Kustosik The Data Flow Diagram for Kustosik goes a step deeper and requires more functionalities of the jewelry store.

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Admin (myself) view and edit logins to the system and management of the Wix online store functionalities

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Admin can edit and view all details of products and product prices

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Amin can manage details of categories

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Admin can generate reports

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Admin can search for details

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Admin can track for detailed information

19 Second Level Data Flow Diagram for Kustosik

Website -

Domain Name: https://kustosikjewelry.wixsite.com/kustosik-jewlery

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E-commerce platform chosen: Wix

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E-commerce site:

20 o Home

o Shop

21 o About Us

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o Contact

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10 keywords o Curated o Curated jewelry o Jewelry shop o Miami o Trendy o Affordable o Rings o Gold o Bracelet o Necklace

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Newsletter Signup: appears as the first thing when you open the website

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Email Marketing: Don’t miss you email campaign

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Privacy Policy: is in the About Us page and you can access it though the footer when it asks about cookies

Privacy Policy for Kustosik At Kustosik, accessible from https://kustosikjewelry.wixsite.com/kustosik-jewlery, one of our main priorities is the privacy of our visitors. This Privacy Policy document contains types of information that is collected and recorded by Kustosik and how we use it.

If you have additional questions or require more information about our Privacy Policy, do not hesitate to contact us.

This Privacy Policy applies only to our online activities and is valid for visitors to our website with regards to the information that they shared and/or collect in Kustosik. This policy is not applicable to any information collected offline or via channels other than this website. Our Privacy Policy was created with the help of the Free Privacy Policy Generator.

Consent By using our website, you hereby consent to our Privacy Policy and agree to its terms.

Information we collect The personal information that you are asked to provide, and the reasons why you are asked to provide it, will be made clear to you at the point we ask you to provide your personal information.

If you contact us directly, we may receive additional information about you such as your name, email address, phone number, the contents of the message and/or attachments you may send us, and any other information you may choose to provide.

When you register for an Account, we may ask for your contact information, including items such as name, company name, address, email address, and telephone number.

How we use your information We use the information we collect in various ways, including to: • • • • •

Provide, operate, and maintain our website Improve, personalize, and expand our website Understand and analyze how you use our website Develop new products, services, features, and functionality Communicate with you, either directly or through one of our partners, including for customer service, to provide you with updates and other information relating to the website, and for marketing and promotional purposes

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Send you emails Find and prevent fraud

Log Files Kustosik follows a standard procedure of using log files. These files log visitors when they visit websites. All hosting companies do this and a part of hosting services' analytics. The information collected by log files include internet protocol (IP) addresses, browser type, Internet Service Provider (ISP), date and time stamp, referring/exit pages, and possibly the number of clicks. These are not linked to any information that is personally identifiable. The purpose of the information is for analyzing trends, administering the site, tracking users' movement on the website, and gathering demographic information.

Cookies and Web Beacons Like any other website, Kustosik uses 'cookies'. These cookies are used to store information including visitors' preferences, and the pages on the website that the visitor accessed or visited. The information is used to optimize the users' experience by customizing our web page content based on visitors' browser type and/or other information.

For more general information on cookies, please read more on the Cookie Consent website.

Google DoubleClick DART Cookie Google is one of a third-party vendor on our site. It also uses cookies, known as DART cookies, to serve ads to our site visitors based upon their visit to www.website.com and other sites on the internet. However, visitors may choose to decline the use of DART cookies by visiting the Google ad and content network Privacy Policy at the following URL – https://policies.google.com/technologies/ads Advertising Partners Privacy Policies You may consult this list to find the Privacy Policy for each of the advertising partners of Kustosik.

Third-party ad servers or ad networks uses technologies like cookies, JavaScript, or Web Beacons that are used in their respective advertisements and links that appear on Kustosik, which are sent directly to users' browser. They automatically receive your IP address when this occurs. These technologies are used to measure the effectiveness of their advertising campaigns and/or to personalize the advertising content that you see on websites that you visit.

Note that Kustosik has no access to or control over these cookies that are used by third-party advertisers.

Third Party Privacy Policies

26 Kustosik's Privacy Policy does not apply to other advertisers or websites. Thus, we are advising you to consult the respective Privacy Policies of these third-party ad servers for more detailed information. It may include their practices and instructions about how to optout of certain options.

You can choose to disable cookies through your individual browser options. To know more detailed information about cookie management with specific web browsers, it can be found at the browsers' respective websites.

CCPA Privacy Rights (Do Not Sell My Personal Information) Under the CCPA, among other rights, California consumers have the right to: Request that a business that collects a consumer's personal data disclose the categories and specific pieces of personal data that a business has collected about consumers.

Request that a business delete any personal data about the consumer that a business has collected.

Request that a business that sells a consumer's personal data, not sell the consumer's personal data.

If you make a request, we have one month to respond to you. If you would like to exercise any of these rights, please contact us.

GDPR Data Protection Rights We would like to make sure you are fully aware of all of your data protection rights. Every user is entitled to the following: The right to access – You have the right to request copies of your personal data. We may charge you a small fee for this service.

The right to rectification – You have the right to request that we correct any information you believe is inaccurate. You also have the right to request that we complete the information you believe is incomplete.

The right to erasure – You have the right to request that we erase your personal data, under certain conditions.

The right to restrict processing – You have the right to request that we restrict the processing of your personal data, under certain conditions.

The right to object to processing – You have the right to object to our processing of your personal data, under certain conditions.

27 The right to data portability – You have the right to request that we transfer the data that we have collected to another organization, or directly to you, under certain conditions.

If you make a request, we have one month to respond to you. If you would like to exercise any of these rights, please contact us.

Children's Information Another part of our priority is adding protection for children while using the internet. We encourage parents and guardians to observe, participate in, and/or monitor and guide their online activity.

Kustosik does not knowingly collect any Personal Identifiable Information from children under the age of 13. If you think that your child provided this kind of information on our website, we strongly encourage you to contact us immediately and we will do our best efforts to promptly remove such information from our records.

Marketing and Promotional Plan A marketing plan outlines the strategy that a business will implement to reach their target market and generate sales. It details the outreach and campaigns that will be implemented over a period of time. Marketing plans need to be adjusted on an ongoing basis depending on how the business if doing and how the goals are being completed. Digital marketing is able to give realtime results based on the individuals seeing the posts, how many clicks each post is having, and overall if the company is targeting their target market or not. Marketing plans are part of the business plan (Chen, 2021).

We have created a marketing and promotional plan for Kustosik to visualize our goals on a timely period and evolve as a business. The following are the marketing and promotional plans created:

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29 References

BMI. (2021, March 3). Business model canvas - business design tool. Business Models Inc. Retrieved from https://www.businessmodelsinc.com/about-bmi/tools/business-modelcanvas/.

Chen, J. (2021, September 17). Marketing plan. Investopedia. Retrieved from https://www.investopedia.com/terms/m/marketing-plan.asp

Enterprise. (2012, January 27). What is Data Flow Diagram (DFD)? How to Draw DFD? Visual Paradigm. Retrieved from https://www.visual-paradigm.com/tutorials/data-flow-diagramdfd.jsp

How to do a market analysis for a business plan. The Business Plan Shop. (2021, April 5).

Retrieved from https://www.thebusinessplanshop.com/blog/en/entry/market_analysis_for_business_plan.

Marion. (2021, December 13). What is branding? The Branding Journal. Retrieved from https://www.thebrandingjournal.com/2015/10/what-is-branding-definition/

Torkington, S. (2021, July 7). The pandemic has changed Global Consumer Behaviour Forever and online shopping looks set to stay. World Economic Forum. Retrieved from https://www.weforum.org/agenda/2021/07/global-consumer-behaviour-trends-onlineshopping/.