“Art Flora” Pour your heart in your art, You imagine we make it real

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Art Flora : Pour your heart in your art. You imagine, we make it real.

MKT 201
Section : 08

Submitted to
Nurun Nahar Popy
Lecturer
Department of Business Administration
East West University

Submitted by
Group 03

Group members :

Name ID Participation
Nusrat Jahan Muna 2019-1-10-290 100%
Mahmuda Akter Shemu 2019-1-10-278 100%
Md. Ahasan Babu 2019-1-10-213 100%
Sayeka Ishrat 2019-1-10-122 100%
Gopal Dey 2019-1-10-134 100%
Kazi Imdadul Hoque Anik 2019-1-10-204 100%
Shadman Sakib Mahir 2019-1-10-235 100%
Tajrin Anjum Sujana 2019-1-10-283 100%

Submission date :
10 September, 2020

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Letter of Transmittal
Nurun Nahar Popy
Lecturer,
Department of Business Administration
East West University
Aftabnagar, Dhaka-1212, Bangladesh

Subject: Term paper on a New Business Plan “Art Flora.

Dear Ma’am,

It gives us immense pleasure in submitting to you the report on “Art Flora” which is the new
market plan under our preparation.
While preparing the report, we closely focused on the topic & tried to assimilate and to provide
the most complete information available. We believe that it will provide you a clear scenario
of the service, how to capture the target customers, how the company could position etc.
We thank you for allowing us to do a term paper on a new idea. This will definitely give us an
experience which we can use in our professional life. We will be always available for any
further queries and to answer any questions on this report.
Sincerely,

Nusrat Jahan Muna

Id: 2019-1-10-290

On behalf of the Group 3

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Acknowledgement

We would like to express our utmost gratitude and wholehearted appreciation to all those who
helped us and provided us with the opportunity to complete and present this report.
First of all, we would like to thank our honorable faculty, Nurun Nahar Popy, Lecturer,
Department of Business Administration, East West University for providing us with the
opportunity to observe and analyze such an interesting topic and for her supervision, relentless
guidance and invaluable advice whenever needed and also for teaching us so many useful &
thoughtful materials which helped us to think about our business's well-being.

I would also thank our friends & family who helped us to think in a different way & for their
suggestions. It was really helpful.

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Table of Contents

Executive summary:..................................................................................................................................... 6
1.1 Introduction :. ......................................................................................................................................... 7
1.2 Origin of the Report: .......................................................................................................................... 7
1.3 Objective of the study : ...................................................................................................................... 7
1.4 Limitation of the Study: ..................................................................................................................... 7
2.1 Discussion : ............................................................................................................................................ 7
2.2 Why we have chosen this service : .................................................................................................... 7
2.3 Marketing Mix: .................................................................................................................................. 8
2.4 Segmenting: ....................................................................................................................................... 9
2.5 SWOT Analysis : ............................................................................................................................. 10
2.6 Pricing Strategy:............................................................................................................................... 11
2.7 Competitive advantages: .................................................................................................................. 12
2.8 POD criteria of Art Flora: ............................................................................................................... 12
2.9 Communication tools for promotion:............................................................................................... 14
3.0 Recommendation: ................................................................................................................................ 15
4.0 Conclusion: .......................................................................................................................................... 15
5.0 Reference : ........................................................................................................................................... 15

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Executive summary:

Art is something which can connect people to one another through it’s beauty. Mainly, we are
art loving group. So, if we have to think about a business, art is the first thing which comes in
our mind. Art Flora is an new kind of business. Art flora sell superior quality art and craft
products through online where the users log in to Art flora through website and place orders.
At first Art flora will conduct the business within Bangladesh. If we become successful to
arouse response in the customers mind, then we will think to expand our business outside the
country. We have chosen to serve the people of Bangladesh. The reason behind it is that we
can effectively reach and serve this segment. And it will be profitable as well. When it is the
matter of promotion Art flora will leave no stone unturned in its marketing mix promotional
strategy. Its major focus is on advertising- through print ads in newspapers. Art flora will use
creative television commercial for their promotion. Social media promotion can create a great
impact in our selling. The trade fair is the best place to introduce ourselves. Our website will
work as a platform for new and rising artists. They'll have all the essential facilities they need
from us for selling their products. We will help the artist in their supply of raw materials,
pricing, packaging and delivering of their products.
Joining and starting a shop on Art Flora is completely free. There are three basic selling fees.1)
Listing fee 2) Transaction fee 3) Payment processing fee. Art Flora Charges: 20% fee will be
charged on every single item once it is sold on the website. Our art based website called Art
Flora will fulfil the commitment feasibly and profitably create and maintain the brand
association in the mind of our customers through having the benefits like Convenient,
distinctive and intuitive interface of the website, huge options of products, variety of payment
options etc. Art Flora will use communication tools for promotion like advertising, trade
shows, sales promotion, public relations etc. Art Flora is a platform where we give
opportunities to new comers who are interested in artworks or skilled enough but couldn’t have
the opportunity to start their own business. If everything goes according to the plan, we hope
that Art Flora will prove itself as a successful & creative business.

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1.1 Introduction : This report is about our new business plan “Art Flora”. In this report, we
have discussed why we have chosen this kind of business & about our services, goals, plans etc.

1.2 Origin of the Report:

This report was given to us as a part of the partial requirement of the “Marketing
Management” (MKT 201) of Bachelors of Business Administration program of East West
University. Our course instructor Nurun Nahar Popy , Lecturer has assigned us this report as a
part of the course. Ma’am has authorized the task of writing this report on a group basis.

1.3 Objective of the study :

The primary objective of the study is to learn the practical implementation of the taught theories
in this course. Other objectives include;
• To encourage innovative thinking of us.
• Motivate us to be future entrepreneur.
• To let us recognize how to prepare a business plan.
• To make us understand how to work with group collaboration.
• To make us capable of solving business issues.

1.4 Limitation of the Study:

We can’t prepare a report without limitations. As this is a new idea; lack of information and
also we couldn’t meet with our group members face to face, we had to do everything through
social media & verbal communication. It was a big challenge for preparing the report.

2.1 Discussion :

2.2 Why we have chosen this service :

• Art is the most amazing creativity in the world. Art influences people by changing their
point of view towards nature, people & every single thing.
• Art can give peace of mind. But art & artists do not have that much value in our country.
• Mainly, we are art loving group. So, if we have to think about a business, art is the first
thing which comes in our mind.
• We want to represent people’s art in our website. We want to touch people’s heart with
our service. And only art can do that.
• Also our service will encourage the artists more to illustrate their story or their creativity
through arts.
• Art Flora will help the beginner artists financially. It will be an encouragement for
them.
• ‘Art Flora’ can give the artists a new platform which will increase their popularity.
• We think our this initiative will increase the value of art culture in Bangladesh.
• There are so much negativity among people. We think art can connect people’s mind
with one another.

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This is why we choose this service as our business. We want to value the art & the artists.

2.3 Marketing Mix:

Marketing mix has been developed over time, but before it became 7ps marketing Mix, the
original strategy revolved around the 4ps. They were: product, price, promotion, and place. The
4ps became the marketing Mix 7ps. Which are: product, price, promotion, place, physical
evidence, people, and process. The 7ps helps companies to review and define key issues that
affect the marketing of its products and services.
7Ps of Art flora marketing mix:
Product:
Art flora sell superior quality art and craft products through online where the users log in to Art
flora through website and place orders. These are then delivered to the consumers through its
distribution channels. Here in our website, consumers will get a huge collection of paintings,
hand crafted product, home decoration product and customized gift items.
Price:
It is really a big challenge for Art flora to setting prices for the first time. Art flora will be
charged 20% of every single item sold. Here we also keep in mind the seller would get the best
possible price for their art work. The customer has to select payment method when they order
something through our website.
Place:
At first Art flora will conduct the business within Bangladesh. If we become successful to
arouse response in the customers mind, then they will think to expand our business outside the
country. The customer will buy Art flora products throughout Art flora website. Art flora will
set up an effective supply chain. The seller sends us their product images and Art flora will
attach that with necessary information to the website. When customer order any item, we will
deliver that product from the seller’s door.
Promotion:
Art flora will use aggressive marketing campaigns to promote their art work. When it is the
matter of promotion Art flora will leave no stone unturned in its marketing mix promotional
strategy. Its major focus is on advertising- through print ads in newspapers. Art flora will use
creative television commercial for their promotion. Social media promotion can create a great
impact in our selling. The trade fair is the best place to introduce ourselves.
Physical Evidence:
Art flora business is carried out online through its website. Art flora biggest physical presence
is its well defined website. We should hire well trained staff in delivering the artwork to
consumers and try to give a premium quality of packaging to our consumers so that they feel
special.
People:
Art flora will give a great importance to its workforce. Irrespective of what level and domain
of the organization they will be working people get benefits from Art flora which makes it a
desirable employer. These benefits include health, financial assistance program.
Process:
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In order to purchase the product from the website consumer should have to follow some steps;
*go to the website
*select desirable product
*select payment method
*see overview of the entire order
*confirm and place order
After placing an order now its duty for art flora to deliver the product to the customer’s door.

2.4 Segmenting
Segmentation:
Market segmentation is the process of dividing a market up into distinct groups of buyers
who have different needs, characteristics or behaviors and who might require separate
products or marketing efforts. We have divided our market using geographic and
psychographic segmentation. Geographically we divided the market on country basis. We
have chosen to serve the people of Bangladesh. The reason behind it is that we can
effectively reach and serve this segment. And it will be profitable as well. We might expand
our business in other countries based on our performance, popularity and profit in the
future. Psychographically we have divided the market based on the personality of the
customers.
Targeting:
Targeting in marketing is a strategy of concentrating on a specific segment of customers.
We have chosen to serve the people of Bangladesh because we can effectively reach and
serve them. And also Bangladesh has a potentially profitable market for our product. But
not everyone will be interested to buy our product. So, rather than serving the whole market
of Bangladesh, we decided to target and serve those who are fond of art, crafts and love to
collect them. In short, our target market is the art and craft loving people of Bangladesh.
Positioning:
We will position our company in the customers mind as an authentic, superior quality art
and craft supplies and also a platform for new artists to begin their journey of becoming
professionals. Art Flora will position itself by it’s trustworthy service.
Differentiating:
Our website will work as a platform for new and rising artists. They’ll have all the essential
facilities they need from us for selling their products. We will help the artist in their supply
of raw materials, pricing, packaging and delivering of their products. They may seek advice
from us and the customers about their products. These facilities will encourage more artist
to sell their work through our website and become professionals. For our customers, we
will verify the authenticity of the products in our website. As a result no one in our website
will get scammed. Customs will have the option available for them to customize their
products such as changing the canvas size, printing the art they want to buy on a t-shirt,
cup, bag etc., modifying the package of the product. We will provide special discount for

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 our customers occasionally. There will be a club program arranged for our premium
customers. These facilities from our website will encourage the customers to buy from us.

2.5 SWOT Analysis :

SWOT analysis is a crucial fact for an organization. SWOT stands for Strengths,
Weaknesses, Opportunities, and Threats. By doing SWOT analysis, an organization can
easily find out its advantages along with the possible reason of failure. SWOT analysis
of Art flora is given below:

Strength:
• Different Art work: Art flora will sell different kind of art work like painting,
home decoration product, handmade craft and customized gift items. Art flora
also serve raw materials to their art loving customers.
• First art-based website in BD: Art flora is a first art- based website in
Bangladesh. As it is an only site which is related to art work, so this will serve
the whole art loving population.
• Multiple way of payment: There are several ways of payment. So that customer
can pay with their convenient way. Art flora is giving that platform to their
customers. After buying the products art loving people can pay through bKash,
cash on delivery, DBBL, and Visa card.
• Platform for new and arising artist: One of the main objectives of art flora is to
give a platform to the creative people. By art flora art loving people can find a
platform to make them professional by selling their art works.
• Customized art work: It’s very rare for the art loving people to find any art work
according to their choice. Here, art flora is giving that platform to making the
choice comes true. Any customer can find their customized product with a
minimal cost.
• Authentic product: Website will be verified so that no one can scammed the
products of art flora. As a result, customer will have authentic product.
• Discount in special occasion: We will give special discount to our premium
customer in special occasion.
• Easy accessibility: Website will provide an easy access to everyone so that
people can easily find out their desire product without any disruption.

Weakness:
• Low profit margin: As we will work as a middle man between seller and buyer,
so, we will take only 20% of profit in each product. Day by day we will increase
our profit margin.
• Specific product: Like other websites, we will not sell random products that are
necessary to daily activities rather we will sell specific product related to art
work.
Opportunities:
• Growing e-commerce sales: Present world is all about e-commerce business. So, day
by day this business will be increasing. Demand for art work will also increase. And

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 people are now getting more comfortable with online shopping. So, sales volume will
rise in near future.
• Rapid growth of internet: As a part of technological era, people are being comfortable
with online shopping. In every corner of Bangladesh, people are in under the internet
umbrella. So, people can easily access and shop in their own privacy.

• Love for traditional work: All human being has a love for authentic product. People
always search for creative and genuine product. Here, we are giving this opportunity to
our customers to grave their root level emotion.

Threats:
• Increase of online retailers: There are huge competitiveness in online platform. Though
we are the first who came up with this kind of website, but if new retailer also come up
with the same idea, definitely we will have a difficult competition in this particular
field.
• Government policies: If govt. impose tax on online based website, it will create trouble
in making profit.
• Lack of trust issues: Though everything is being digitalized, people are also getting
comfortable with online shopping, there is still a fear of not getting authentic product.
Quality of product is not determined by the online platform, so there is a huge lack of
trust issue regarding online shopping.

2.6 Pricing Strategy:

A pricing strategy is a model or method used to establish the best price for a product or
service. It helps to choose prices to maximize profits and value while considering
consumer and market demand.
Establishing Prices for Art Flora :
We have already examined the Art Flora business nature and the importance of price setting.
Setting price for the first time is a real challenge to introduce our services to customers and
also keeping in mind that art-loving people can easily interact and selling their art with best
possible price on our Art Flora website.
Fee Structure: Joining and starting a shop on Art Flora is completely free.
There are three basic selling fees.1) Listing fee 2) Transaction fee 3) Payment processing fee.
Art Flora Charges: 20% fee will be charged on every single item once it is sold on the website.

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 Stages Involved in Price Setting for Art Flora

Assessment of
Selection of pricing target market’s Determination of
objective evaluation of price demand
and its ability to
purchase

Selection of a pricing Determination of a

method specific price

Value-based pricing:

Value-based pricing is a strategy of setting prices primarily based on a consumer’s perceived

value of a product or service. Value pricing is customer-focused pricing, meaning companies
base their pricing on how much the customer believes a product is worth.
Since Art Flora offer unique or highly valuable features or services are better positioned to
take advantage of the Value-based pricing model to compare to other models.
For this model, Art Flora’s seller will enjoy the possible best price for their product and on
other hand Art Flora’s buyer also enjoy freedom to buy any product according to product
perceive value.

2.7 Competitive advantages:

Competitive advantage is a favorable position a business holds in the market which
results in more customers and profits. It is what makes the brand, product, or service to
be perceived as superior to the other competitors.
Competitive Advantage of Art Flora:
Art Flora’s big competitive advantage is offering new unique services in the local market.
Which position itself focused differentiation strategy.

Differentiation strategy: A differentiation strategy is an approach businesses develop by

providing customers with something unique, different and distinct from items their competitors
may offer in the marketplace.
Art Flora’s benefits of having differentiation strategy
• Reduced price competition.
• Better profit margins.
• Consumer brand loyalty.
• Reputation
• No direct substitute.
2.8 POD criteria of Art Flora:

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 Points of difference (PODs) are attributes or benefits that consumers strongly associate
with a brand, positively evaluate, and believe they could not find to the same extent
with a competitive brand.
Creating strong, favorable, and unique associations is a real challenge, but an essential one for
competitive brand positioning. Strong brands often have multiple points-of-differences.
It should be mentioned that we are launching a completely new website which means we have
no competitors yet. But Art Flora is an online shopping platform where we will be selling the
artworks only so in that case the certain Facebook pages can be our partial competitors.
There are three parts of ‘PODs’ criteria:
1. Desirable to consumer: Here, Consumers must relate the certain brand’s benefit and also
the market need to provide the compelling reasons to believe, why the brand can deliver the
desired benefit.
Our art based website called Art Flora will fulfil the commitment feasibly and profitably create
and maintain the brand association in the mind of our customers through having the benefits
below-
• Convenient, distinctive and intuitive interface of the website: Our website is easily
designed with rich and colorful listings of products with pictures and videos which will
be segmented based on the artwork products. Customers can easily get their desired
product without wasting their time and without bargaining as the price will be set fixed.
Whereas, the Facebook online pages are really a hassle.
• Wide range of products: In our website there are hundreds of variety art products which
consumer can easily buy as their preferred choices. In several online pages there are
few segments of products to choice so by our website customer can be benefited in
many ways.
• Variety of payment options: As Art Flora is a certified website, we are going to add the
debit card or credit card option along with cash on delivery and bKash which the online
pages fail to deliver the benefit to the consumers.

2. Deliverable by the company: The company or farm must need the manpower or the internal
sources to fulfill commitment for maintaining the brand association in the minds of customers.
Also, the product design and marketing offering must support the desired association.
• It is an online trading platform for the sales of goods by a community of sellers or
artists.
• Our website as a middleman through the buyers and sellers so we encourage the new
artists or suppliers to earn self-dependency by selling their own creative art work
products.
• Thus we can supply effectively and feasibly through the artists as we have enough
resources.
3. Differentiating from competitors: Finally, consumers must realize the product of the
market is different and superior from the competitor.
Our website will effectively and efficiently position itself superior in the customers’ mind by
having these advantages given below-

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 • Empowers entrepreneurial individuals: It is a platform where we give opportunities to
new comers who are interested in artworks or skilled enough but couldn’t have the
opportunity to start their own business.
• Market place community for sellers: We offer a sense of community to buyers and
sellers through communications and interactions. As it is completely a new website
based on only selling artworks, it differentiate us with other big websites.

2.9 Communication tools for promotion:

➢ Advertising–Advertising is the biggest communication tools. Advertising has wide

reach which is great for us because Art Flora is completely new and small scale start
up business, so people will be able to know more about our business. We can use both
paid and unpaid advertisement for Art Flora. The focus of our business advertisement
is to create reason for purchase our product.

➢ Sales promotion–We can use sales promotion for our business by grabbing the attention
of new customers and rewarding the regular customers. Also by sales promotion the
customers will be able to trust ourselves, because most of the online or website based
businesses cannot be trusted.

➢ Trade shows–We can arrange an exhibition for our company in a specific industry to
showcase our new products and services, to find out when the next trade will occur in
our area, we have to contract our local convention facility. The space for such shows
must be reserved well in advanced, and if there's one planned during the next year, the
facility manager's office will be able to give us a date. We can also check with our local
chamber of commerce for information about trade shows in our area.

➢ Building business partnership with other organizations– Business partnership can be

very effective communication tool for promoting our business. Though it is tough to
build a business partnership with an established company as our company isn't
established that much yet. And when we will be able to make business partnership with
other businesses then we will show their arts in National Art Gallery if their arts are up
to the standards.

➢ Public relations– We have to know our customers in person, as many customers

frequent businesses run by people they know and like. By creating a database for
customer phone numbers, mail and e-mail addresses we will be better able to respond
and take the customer's feedback, which is a also an important thing for developing
relationship with customer.

➢ Email campaigns and Newsletters–It is another great and true tactic for lead generation.
It will allow our company Art Flora to identify better quality leads. Email newsletters
are a powerful way to keep the customers engaged with our business Art Flora.

➢ Social media–In today's world most of the things are based on technology and social
media. Social media is much more faster to grab attention and to reach many customers
than any other tools. From Twitter to Facebook, Instagram , social media has rapidly

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 become a valuable method for customers to research a brand before the organization is
even aware of the buyer’s interest. Potential customers are able to find social proof
through other customers who have interacted with brands on social media channels. We
can make the best use of social media for promoting our company.

3.0 Recommendation:
Well, we think our website is going to be one of the best as we are trying to support the
artists of Bangladesh financially & encouraging them to become professionals. We have
already discussed how we are going to reach to our customers & position it. Art Flora
is for the artists who didn’t get deserving respect & popularity in other famous platforms
in Bangladesh. Our platform will do it’s best for connecting with people's heart through
arts.
Here is the website link of Art Flora : https://artflora51.wixsite.com/artflora

4.0 Conclusion:
Art Flora is a new initiative in the business sector. It needs experience. If our business
get it’s identity , then it would be a great idea for representing our art culture outside
the country. This business will bring a newness to the society. We are also thinking
about donating our profit's 5% for the social work. Our business will not only give us
an identity but also new talented artists. If everything goes according to the plan, we
hope that Art Flora will prove itself as a successful & creative business.

5.0 Reference :
• Philip Kotler & Kevin Lane Keller. Marketing Management (15th Edition)
• https://www.google.com/amp/s/www.smartinsights.com/digital-marketing-
strategy/customer-segmentation-targeting/segmentation-targeting-and-positioning/amp/
• https://bizfluent.com/info-8480591-differentiated-marketing-strategy.html
• https://www.qualtrics.com/experience-management/brand/what-is-market-
segmentation/
• https://www.techfunnel.com/martech/essential-marketing-communication-tools-
good-marketing-campaign/

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