writen analysis of case

written analysis of case SAba Akmal 11108014WWW.DHONUK.COM MARKETING ART IN AN EMERGING MARKETIssues:The key issues that dhonuk.com face right now is following:1. Positioning strategy was a challenge for dhonuk in market like India where art was not a common place consumer item.2. Target market was the second issue they need to focus what is their main and important target marketAnalysis:In the first issue Positioning is the main challenge that DHONUK is facing. Art in India was a niche market in the sense that this sector had untapped potential and unfathomed opportunities in the market The growth factors of the social class structure in India, should lead Dhonuk.com to focus the positioning of the company on this growing middle class. Although the middle class was not necessarily made up of art enthusiast, it presented a group of people who were interested in finding out more about the culture of art. And the second issue was where the Dhounk.com presents themselves as an online platform for art lovers, art enthusiasts and artists. This structure limits their market reach and ignores the larger segment of India. The survey conducted by Dhonuk.com presents a good picture of the make-up of their ideal customer/user. The consumers that are attracted to Dhonuk.com are passionate, knowledgeable, and very socially active. At the same time, this group is occasional buyers of art and is not very concerned with self-image in relation to purchasing products. These occasional buyers are independent and are not influenced by what others think of their tastes in products.Dhonuk.com has a unique opportunity to enter the market at a time when there is such fast growth in economic social class structure of India. The target market with the most potential they should focus on is the occasional buyer from the middle class

Options: They should focus on highlighting the combination of abstract and figurative art as their main product types and present Dhonuk.com as a website that offers their customers value by being interactive, informative and convenient.Decision Criteria:As company is facing positioning as a challenge they need to Position themselves as an interactive website meant for the occasional buyers who were from the emerging middle class. No one is focusing enough on this segment of the market so it offers a great chance for a company like Dhonuk.com to come in and increase their awareness of art.Dhounk.com can accomplish this if they offer the valuable tools of information, interaction with experts and convenienceRecommendations:1. Position them as an interactive website meant for the occasional buyers who were from the emerging middle class.2. Focus on highlighting the combination of abstract and figurative art as their main product types.3. Present Dhonuk.com as a website that offers their customers value by being interactive, informative and convenient.1. What are the customers perceptions of art? Will these perceptions closer to reality? Does there exists relationship among them?The art market has developed in India around the high net worth individuals who have different motives and derives varied benefits from purchasing art works. From the exhibits we see that although the overall size of HNI in India is less as compared to the APAC and the world but the growth of HNI is quite promising in India as compared to the rest of the world. HNI size growth in India is at a CAGR of 13% from 2005 to 2010 as compared to CAGR of 5% and 3.79% for APAC and the world from 2005 to 2010. Over the couple of years, leaving year 2009 which marked the erosion of wealth for every economy, we see Indias growth in HNI size is much higher Year on Year against the APAC and the World. This means that more and more people are becoming richer and they would look for lucrative investment options, unique market places to spend their disposable incomes, higher need to differentiate themselves and accentuate their status levels. Therefore, luxury items market has tremendous growth potentials in India. Since art works contribute to a large portion of the luxury goods pie it is critically important to make informed and focused efforts to grow the pie. The market would function sub optimally in every category unless the capabilities are realized in full strength. Since we see that buyers of art forms are very unique in themselves and they have own perceptions, it is of prime importance to research them. This will help both the Artists, the buyers and the marketers. Artists: From young and budding artists to experienced artists, everyone needs income to nourish, develop and grow in their respective fields. When they become aware of how their potential buyers thinks and derive benefits from their work, or what their buyers will buy would help them focus and build on their areas of interest.Buyers: As already mentioned, wealthy buyers buy out of passion or to demonstrate their status, some buy as an obsession, some appreciate art as well as consider it as a lucrative option, some buy for decorative purposes and so on. The personality of a buyer is one of the main driving factors for art form purchase. Therefore, buyers must have adequate information, accessibility and options to make their informed decisions. For buyers who look upon art forms as an investment options must see the market place to be rewarding enough for them to invest in it. Art market must be segmented according to the key driving factors that emerge from the personality and perception studies and each segment must have a clear brand image for buyers to derive the full benefit from it. Therefore, buyer research is very important to make the market place more efficient and rewarding.Marketers: For every marketer, it is very important to promote the product in order to grow the market, drive volumes, grow category and so on. If marketers understand their buyers then they would be able to do a better segmentation, targeting and positioning of their product or service. Since, the buyers here are of dynamic nature and are dependent on cyclical and structural patterns, marketers should do the research even better to keep their market place alive. Depending on the outcome of their research they would be able to promote, attract and drive sales for themselves. Also, our very target should be to have a consistently growing market where buyers should be motivated to make repeat purchases, investments. By capturing buyer perceptions, it would be easier to move them through the funnel and help to form a more robust dependable market.

2. Compare and contrast the customers involvement in art with detail analysis of variables upon which this involvement is dependent?3. Are consumers diverse? Make an analysis of consumers demographics and its impact?4. What would be your product portfolio for this site and your positioning strategy?5. How would you identify your consumers? How would you differentiate yourself from competitors?6. What strategy would you form in dealing with such consumers?a) How should you introduce this website?b) Develop a concept for your brand as well?

Exhibit: 2

Following exhibit analysis shows the consumer behavior where the horizontal axis (X ) represents the interactivity with respect to the action fields of art and how visitors frequent the fields of action of the art platforms . Where the (Y) represents the influence of brand personality that is the image the manufacturer wants to project the market for a specific product

This graph analyzed the interaction off the mark where the horizontal axis (X ) shows the accessibility with regard to the action fields of art so that we consider less visited by people who are left and the most visited on the right. And in the ordinate ( Y) it is defined by the role of shaping experience and concepts of art , gaining four quadrants that allow us to make decisions about how to begin to develop a plan for the organization.