Business Ideal Proposal Assignment - Porcelain Studios (1)

Business Idea Proposal Assignment - Porcelain Studios Porcelain Studios is a multi-faceted creative company providing services to businesses in all media aspects, including photography, videography, creative direction, and graphic design. We aim to be the leading creative studio in Toronto for businesses to come to for any marketing/content-related services.

Business Concept Overview a. What are the products and/or services to be offered (max. of three products or services?) The three main services being offered include the following: 1. Visual Media (Photography/Videography) - services required for content creation in the form of professional photography and videography to meet the marketing needs of a company aimed to increase business. 2. Graphic Design - high-quality graphically designed content such as ads, posters, and logo design created through digital or print format used to identify company image or to help convey messages 3. Creative Direction - Strategic planning and guidance with businesses to creatively enhance their original ideas to cultivate a strong and cohesive marketing message for their campaigns b. What are the proposed names of each product/service? The names of each service are pretty simple so they are clear to the clients, the following services will be named as such: 1. For photography and videography, we will name the service “Porcelain Visuals” 2. For graphic design, we will name the service “Porcelain Designs” 3. For creative direction, we will name the service “Porcelain Creative Consulting” c. What are the features, advantages and benefits (FAB Chart) of each product/service? Product/Service Feature Advantage Benefits Porcelain Visuals ● Photography and videography recorded and captured and edited using the highest quality equipment and softwares ● Increases engagement among online presence ● Upgrades brand image through visual mediums ● Visually and aesthetically pleasing ● More customer engagement ● Increases sales ● Better brand visibility among younger audience

5. Marketing Needs/Behavioural: Businesses looking to create an aesthetically pleasing and appealing brand image through creative means b. Why did you choose this target audience? I chose this target audience because I feel that Toronto has a lot of opportunity for business growth and for entrepreneurs to create startups. A lot of these companies are relatively new and need to market their brand and strengthen their presence in the community, and that is where we can come into place. Being a small business ourselves we have the expertise and understanding on what close collaboration and teamwork it takes to produce content of high quality where everyone is happy with the final product. Lastly, I believe that working with small businesses increases the chance of retaining clients with the potential of creating long-term business relationships. c. What do you currently know about the target audience? Currently, I know that a lot of businesses, especially in our target market are very focused on increasing their online presence as in today’s generation with the advancement of technology, it is very easy to increase their business online. Although, not a lot of businesses know how to effectively market their business, which open the opportunity for us to provide service. Also, due to how broad our services can be we are able to help businesses in all different stages of their brand development, whether they want to design a logo, create ad advertisement, or in need of creative direction for a marketing plan we are able to navigate them. d. How does the products/services relate to them? The services carried by Porcelain Studios align with the needs of our target market in many ways. By offering various services, we are able to show how diverse we are in terms of offering creative options designed to meet the needs of any kind of business. Due to businesses wanting to focus their marketing to more digital work, they want to start strengthening their online presence. With the services we offer, we can do exactly what are target market wants: help grow their businesses through digital marketing. On the other hand, if businesses want to do more commercial work such as photo, video, print media, etc. we can provide services in that end as well.

Value Proposition a. How will the product/service benefit consumers? The services we offer will benefit consumers in the following ways: 1. Upgraded Brand Image: The creative services we offer at Porcelain Studios will help contribute to bringing a strong brand identity towards any business we work with. Consumers will see a high quality and aeasthetically pleasing content produced by us and will feel trust that the same work they put into their marketing will carry over with the products they carry 2. Strategic Marketing Campaigns: with experienced creative directors, businesses are able to develop well thought out, cohesive marketing campaigns that make sense to their brand vision and are compelling to consumers. This allows them to focus on their core target market which when mixed with a good marketing campaign can allow them to increase sales and grow their consumer base. 3. Everything in One: The ability for Porcelain to provide a wide variety of creative services allows businesses to get all their needs satisfied in one spot. This saves companies time and resources from trying to outsource other studios for work and lets them focus on their product. b. Why will the customer pay for it? I believe customers will pay for this service because of the numerous benefits they can get with the use of any of the offered services. The high quality visual content, impactful creative direction and a modern approach to graphic design all help businesses and freelancers focus on their core product while leaving professionals at the task of fulfilling their marketing needs. We understand that marketing is one of the most important factors in having a successful business, and with the help of experienced professional we can help freelancers and small to medium sized businesses reach those business goals they desire.

logo so it can allign with the company and their values. Also, Porcelain operates in the GTA opposed to all over the country. Revenue Model a. What is your estimated cost and selling price for your product/service? The ability to work in the creative space allows for each service to be personalized and have a selling price based on what is being asked. There will have to be a cost analysis to determine an estimated cost of the service being provided. Analysis should include expenses of equipment, studio space, salaries, marketing, etc. The cost of paying our team will be based on the service so for example and it is subject to change, will be about 30% of the selling price, netting 70% revenue to the business. The selling price will be determined based on that cost analysis, competitor pricing and research on the market. If need be, Porcelain Studios can offer bundles or competitor pricing depending on value of services. Example Price List - Base Costs - Digital Photography + Editing: $150/hr - Film Photography including development and scanning: $100/roll - Videos (30 sec - 1 minute promo): $100/ hr - Videos exceeding 1 minute will be $150/hr - Creative Consultation: $200/hr - Graphic Design services: $100/hr b. Does the market for your product/service have potential growth? Why? I feel this market has significant room for growth. I believe this because in the new age of social media, businesses are paying a lot of attention and focus on effective online marketing and branding. As traditional companies start to see this, they will turn studios like Porcelain to help them fulfill their marketing needs. This will expose Porcelain to a whole new demographic of clients further growing our market. As businesses continue to trend to solely operating online, they will need a strong online presence and compelling marketing to attract customers and increase sales.

c. What additional products or services to you plan to offer in the future to increase revenue? Additional products and services we plan to offer in the future include the following: 1. Social Media Management : help businesses grow their social medias, attracting the younger demographic and increase engagement among them as well. Through managing social medias, they can have a consistent presence across all platforms while allowing clients to focus on other aspects of their business 2. Studio Space/ Equipment Rentals: If businesses choose to produce their own content, we can offer the studio space and/or equipment for them to do so. This allows them to have access to top of the line equipment without having to invest in buying the equipment outright when they will be used for a temporary amount of time. 3. Website Design: We can begin to offer website design along with out graphic design services. Instead of traditional graphic design, we can take it a step further by offering options like animation, interactives and ways to keep user on the website.