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Business plane - Term Paper Example

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Whilst visits to galleries in America increased by 1% in 2003, 2005 saw an estimated 492 million visits to over 2700 galleries in the US. With financial…
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Download file to see previous pages For all the above, our company has decided to take the challenge and penetrate the art market and establish a strong foothold in the industry and gain a major market share of this highly profitable sector.
“Our mission is to maintain our reputation as an energetic, outgoing and accessible art gallery in London 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.”
“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 (XYZ) into a household name in the art market.”
The primary research carried out over the past few months and this gave valuable insights into the information regarding the potential sales per month, operational plan and staffing requirements. Information was also gathered on the different prominent media through which advertising can be easily done to target the potential market segments.
Laissez-Faire Buyers: Not all consumers who buy art are avidly devoted fans. A profile of customers tends to visit art galleries and exhibitions when they are easy to get to. These consumers, who tend to go to these social gatherings because they are close by, also tend to be frugal spenders which would imply a laissez-faire type of consumer who will visit out of convenience more than avid following.
Urban Prosperity: A major target segment will be the Urban Prosperity group, consisting of a high ...Download file to see next pagesRead More
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