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With financial objectivity fast replacing the anecdotal concerns of art, major US banks and pension funds are gearing up to invest between one percent and three…
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memorandum [Click here and type [Click here and type Start up of Art business 29/08 cc: [Click here and type name]
Start up of ABC art Business
Introduction:
Galleries and art exhibitions have a wide appeal to all age groups and especially to those in the 35-44 age groups. With financial objectivity fast replacing the anecdotal concerns of art, major US banks and pension funds are gearing up to invest between one percent and three percent of their value in artworks as a hedging measure.
ABC’s Mission:
“Our mission is to maintain our reputation as an energetic, outgoing and accessible art gallery that inspire, interest and sell art work to an increasingly diverse audience and collectors. Not only do we have classified ourselves as a gallery but also as a brand in selling out artwork and products. We aim to acquire, collect and present to our customer the finest works of art available on the market scene in a variety of media and concepts as well as supplying art materials to our customers.”
ABC’s Vision:
“Our vision is to expand our business into promoting a strong arts education and arts appreciation for our customers, the general public and educational institutions with interest in art. We aim to develop and integrate our brand (ABCs) into a household name in the art market.”
Our Marketing Plan:
a) Product:
Our aim is to target the upper class socialites and celebrities.
Customer data base will be built by arranging exhibitions.
Our products will be fine contemporary painting in different media and photography.
We aim to meet our customers’ need by selling order to buy products.
b) Price:
The price will range varies between $200- 25000 depending on the media, style, quality and artist.
Price for materials e.g. brush, painting, labels, etc will be matched comprehensively to competitors price.
A lower price fixed will be ascertained by the director with vast knowledge in art work.
c) People and Process:
People involved in providing service to the business play an important role in instilling a positive customer experience.
Customers can order their own style media of paintings through our websites.
Customized work such as the painting of family events e.g. Weddings, will give us competitive edge.
Rich and elegant atmosphere will be provided through physical décor.
d) Promotional Mix:
We aim to promote and advertise via the Art Magazine.
Direct marketing and cold calling will be one of our selling strategies.
The database will enable us to connect with our clients and customers on personal levels.
Celebrities will be offered painting as a gift and will be used as a mode of reaching the target market.
Internet will be used to continuously update information about artists and art material.
Conclusion:
The aim of the company is to gain a considerable market share through a differentiation strategy, maintain healthy terms with the Artists working for the company to ensure long term relationships and to create and sustain an effective and aggressive marketing, which will be the main key to the company’s success. ABC also aims at providing a fully interactive and real time website to be developed gradually from the basic eCommerce website. This is the basic plan for the set of up of a new business in the field of art. Hence this is a very effective and positive business plan which has been well thought out and planned and can be implemented with a lot of ease. Read More
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