As a business we need to understand what our target market and customer base wants. Market research is key to determining customer and community needs. Think about how to introduce products and/or organisation, pricing and business costs. non-profit.
Advertising is a way of marketing our business, fit under the umbrella. Marketing encompasses a range of different thinks and it is important not to get mixed up between advertising and the larger picture of marketing.
Distribution, networks - buying into the brand and what our product culture is.
The creative process.What can be marketed?
Goods/products, services, customer skills, experiences, practitioner personalities and approachability, organisations, properties, information, ideas and concepts.
The 4 P's
1. Product
2. Price
3. Place
4. Promotion
We are aiming to market an intangible service - not necessarily a particular "product/goods".
We need to consider as a business how we go about this and who to aim/communicate this too.
Benefits of marketing:
- allows you to expose and promote your service
- helps you understand what unique needs your service meets
- marketing delivers the message and philosophy underpinning your service
- helps differentiate difference between your service and competitors
- identify a range of audiences
Market research:
Primary- new data specifics that haven't been collected before
Secondary- gathering existing data.
Data:
- Factual information is called quantitive data.
- Information collected about opinions and views is called qualitative date.
S.W.O.T
"STRENGTHS, WEAKNESSES,
OPPORTUNITIES, THREATS"
OPPORTUNITIES, THREATS"
SWOT for our business proposal/idea:
Strengths
Non-profit organisation/business
Community based ( helping people from a range of backgrounds in local areas)
Educational purposes - Providing a learning environment.
Locally sourced products- giving back to the community and helping support other local businesses.
Weaknesses
Currently we done have the networks/contacts we need to get us started as a business. We need illustrators to rent the hot-desks/studio spaces in order to start generating money before we can set up the cafe side.
We need the perfect kind of space in the perfect location for what we aim to do. Environment is key for successful creativity
We want to be eco-friendly which is great, but could be expensive/unprofitable and effect the amount of funds we have to put back into the business.
Opportunities
We would like to gold interesting and immersive events. With careful research into already existing events, we could go one step further.
We would also get in touch with existing events and see if we could collaborate or get ourselves involved. Not only would this publicise who we are and what we do but it would also kick start our networking opportunities.
Workshops, fun days, exhibitions and events are just a few of the many opportunities we could have. Exhibition space on walls for local practitioners to showcase their work - free to hang work, we take 40% commission from sales?
Threats
Any competition we face, e.g... coffee shops, other art based venues, other running workshops.
We are all different as individuals. Although we aim to capital on this - working in a group could also be a potential threat if we were to come across any prominent disagreements.