Wallbum: New decorative product

Résumé du document

The Wallbum project (contraction between wall and album) is an innovative concept of decorative art, that we would like to launch in Portugal, which allows customers to change and renovate their daily environment in a very simple way. The customers can either give us an image that our designers will customize or acquire an already made design. There are two different ways to make an order, through Wallbum's website or in the physical store. The product customers will receive the contents of a cylinder with the finished canvas and the pieces of EZ-frame that will have the advantage of being quickly assembled. Wallbum will enter in a market that is going through an economic crisis and this may present a major struggle for our company. Nevertheless, the market trends also indicate that the peoples' concerns about image is increasing steadily. Consequently, Wallbum will receive clients who are eager to include fashionable items in their homes or in their work places. The decoration market is not being fully assured by the existing companies. Hence, we intend to fill a market gap, by developing a product that cannot be considered as an upscale painting that would cost a fortune neither with an IKEA frame. Bearing this in mind, we are providing consumers with innovative design digital portfolios and the opportunity of customizing an image to which they have a connection and include it in their daily routine office and home life. Wallbum will bet on innovation through an acquisition of a HP machine that will be able to print canvas in just 3 minutes.

Extraits

[...] The variable value is dependent to the number of transactions that the machine operates. Communication, particularly telephone and Internet using the service. Filling insurance Accounting expenses Machine maintenance Store Keeping, which consists in a cleaning lady that comes three hours a week and takes 5€/hour. Staff Costs and Clothing Our staff will be paid on a monthly base and is composed by: 2 technical assistants that will receive each per month designers that will receive each and 1 manager that will receive per month. [...]

[...] The fourth phase of the decision making process is simple to analyze. After choosing our brand, customers will have to different options: to buy through our website or in our physical store. The concept of these two distribution channels will be more explored ahead on this project. Finally, the post-purchase behavior and the after sales customer service is very important to sustain our company operational activity. As we propose the rotating decorative concept, keeping a strong and efficient relationship with our customer, will be crucial to the final positive customer delivered value /Segmentation As it is strongly recognized “consumers will pay more for a product tailored to their needs and will be more responsive to a message that truly speaks to them”. [...]

[...] This type of advertising will be more expensive than the other promotions. Our huge campaign in this first phase will occur in the 2nd stage, in which, we as a creative persons, that are launching a very creative and innovative product, will also need to have a creative promotion campaign. This promotion consists taking pictures to the Picoas Plaza clients that are seated in the esplanade, if they agree with that of course. If so, at the same time we will have one of our associated designers inside the store working on that pictures, which will instantaneously appear on our LCD, showing the before” and after”, and if the client likes that, he can buy the product with a 10% discount. [...]

[...] - FNAC is an European leader in the distribution of cultural and leisure activities. It is the only brand that offers, in one building, a selection of literature, music, image, sound and all the technologies that relate to these areas. Fnac has developed an unique concept, which is based on physical and virtual spaces, places of discovery, counselling, encounter and culture. Fnac competes with us because by internet the customer just need to upload the photo and they will print on canvas just like the way he sent to them. [...]

[...] Thus, our strategy has to be based on communication benefits and not so much on attributes. Wallbum will create brand awareness in crowded places geographically close to the physical store, through different types of advertising. Wallbum will also have advertisement in free newspapers like Metro. Even having a low information life, the main advantage of using this method is that we can give more detailed information with a high credibility level and it is portable. Another and a very important way of communication is to create an advert for the brand in Facebook. [...]