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dc.contributor.authorDreyer, Charles August
dc.contributor.authorSmet, Dries
dc.date.accessioned2021-04-27T19:01:58Z
dc.date.available2021-04-27T19:01:58Z
dc.date.issued2018
dc.identifier.urihttp://hdl.handle.net/20.500.12127/6816
dc.description.abstractThis report has been the result of our research for the past two months, focusing on the viability of creating a venture, named Artox.eu that offers an online art gallery for affordable art, where we connect upcoming artists with potential buyers. The main purpose of our research study was to determine our customer base, evaluating the proposition of individuals who would be willing to buy art online and determining our competition and unique selling proposition. The method used for this analysis was to conduct interviews and surveys. We determined our go to market strategy and evaluated different marketing channels. We created analogue and digital campaigns to promote our venture. We were able to capture relevant data from our campaigns that will allow us, to efficiently promote our venture in the future. Results of data analysed show that our potential customers are willing to spend on average an amount of 834€ on art, that our sales process should be painless and offer a certain degree of personalized content to the customer. The results from our digital campaigns where detrimental to figure out who and where our customers were and what where the key demographics to target. We were able to determine through our online campaign that our target customer segment should be individuals, aged between 24-35 years old, with a higher engagement coming from women and customers living in the major cities of Belgium. From our research we were able to conclude and synthesize our final value proposition, Artox.eu will focus its artists portfolios based on three key criteria: - Our portfolio will have a majority of art pieces priced at a maximum of 1000€. - We will offer bellow market fees for every art piece the artist sells (20% commission). - Easy returns and personalized art selection for the customers. The report also examines the fact that the market analysis conducted has limitations. Some of the limitations include: - The ability to track and analyse our analogue campaign, we encountered more difficulties to quantify and evaluate the results of those campaigns. - The barrier of buying art online remains a halt on the growth and the ability to scale our business, customers need to be converted and educated in the habit of buying art online. To conclude, our financial analysis allowed us to determine the feasibility of this initiative, which would prove to be beneficial for all parties, while promoting art and culture on the Belgian market.
dc.language.isoen
dc.titleArtox.eu: How can a start-up disrupt the market of affordable art?
dc.source.numberofpages104
vlerick.knowledgedomainMarketing & Sales
vlerick.supervisorLemke, Fred
dc.identifier.vperid186039
vlerick.companynameArtox
vlerick.programmeMGM Leuven - MIE
vlerick.typebusresprojectIn-Company Project


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