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Effect of Assorted Marketing Techniques on Online Sales

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E-commerce has rapidly become a mainstay in today's economy, and many websites have built themselves around providing a platform for independent sellers. Sites such as Etsy, Storenvy, Redbubble, and Society6 are increasingly popular options for anyone looking to open their

E-commerce has rapidly become a mainstay in today's economy, and many websites have built themselves around providing a platform for independent sellers. Sites such as Etsy, Storenvy, Redbubble, and Society6 are increasingly popular options for anyone looking to open their own online store. With this project, I attempted to examine the effects of four different marketing techniques on sales in an online store. I opened a shop on Etsy and tracked sales in connection with promotion through social media, selling products in-person at a convention, holding a holiday tie-in sale, and using price anchoring. Social media accounts were opened on Facebook, Tumblr, and Instagram to promote the shop over the course of the project period, and Etsy's web analytics were used to track which sites directed the most traffic to the shop. I attended a convention in mid-January 2016 where I sold my products and distributed business cards with a discount code to track sales resulting from being at the convention. A holiday sale was held in conjunction with Valentine's Day to look at whether holidays influenced purchases. Lastly, a significantly more expensive product was temporarily put in the shop to see whether it produced a price anchoring effect \u2014 that is, encouraged sales of the less expensive products by making them seem affordable in comparison. While the volume of sales data was too small to draw statistically significant conclusions, the project was a highly instructive experience in the process of opening a small online store. The decision-making steps outlined may be helpful to other students looking to open their own online shop.

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2016-05

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Creating a Drop-shipping Business: An Analysis of Multiple Marketing Strategies and Tactics on the Impact of Product Sales

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To begin our creative project/thesis we sought out a project that would allow us to combine our interests in Supply Chain and Marketing. We chose to develop a drop-shipping business and analyze the effects that marketing had on our product

To begin our creative project/thesis we sought out a project that would allow us to combine our interests in Supply Chain and Marketing. We chose to develop a drop-shipping business and analyze the effects that marketing had on our product sales. After reading and researching multiple potential products, we chose to begin by selling Sea Turtle Charm Bracelets. After selecting our product we created a webpage where we would be able sell it. Once we established a platform, we began to test different marketing tactics to observe the impact that they had on sales. The primary objective of this thesis was to test and analyze different marketing strategies and see which one would have the largest positive impact on sales. We researched different social media platforms and discussed how to best market the website so that we could increase traffic to our webpage and generate higher sales. We implemented different marketing strategies and sent out two surveys, through Qualtrics and Google Forms to understand the relationship between social media marketing and a consumer's likelihood to purchase. This thesis presents the development of a fully functional drop-shipping business, our approaches to marketing, the methodology behind the survey creation, obstacles and challenges we faced along the way, and the overall sales results that concluded our product was not suitable for consistent, long term sales. Through this project we have gained invaluable insight on how a drop-shipping business functions and the impacts that marketing has on it; looking towards the future we have decided to shut down our current business and utilize our knowledge on drop-shipping and marketing to create a new business which will sell items catered towards a broader customer base.

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2020-05