Epic Design Business Strategies - Example

Epic Design Name: Instructor: Course: Date: Executive Summary Epic Design is a company that will be formed by a group of graduates who want to unleash their potential. The company will be situated in Sydney. It will mainly deal with posters designing and graphic designs. The company will have a major strength in the skills of the subordinates. In addition, the members will have diversified skills which will enable the business to deal with different challenges faced by the firms in the market. In addition, the graduates have been raising money to support the business. These resources will be used to establish the business in the market. Moreover, diversified products will reduce the risks and uncertainties associated with concentrating on a single market. On the other hand, different personal issues might affect the performance of the business. This will call for the spirit of team work in order to spearhead growth of the business. However, increasing population in Australia and improving levels of technology provides an opportunity for the business to segment the market. Nevertheless, the threat posed by global business cannot be ignored if the business is planning to expand its operations to the global market. Background Epic Design is a new company that is aiming at providing new opportunities to the graduates to bring their ideas together and develop them into income generating activities. Many of the graduates in the country end up in a career that they never expected. As a result, they end up wasting their talents and not fulfilling their overall potential. With the increasing levels of globalization resulting from liberalization of markets, efficient flow of information and integration of markets, the level of competition in the market has increased tremendously. This has resulted from the entry of multinational companies in the local markets. These firms have a huge financial base to segment the market, position their products strategically in the market, and attract customer loyalty towards their products and services. In order for the companies in the Australian market to remain competitive to remain competitive, they have been diversifying their operations in order to reduce the risks and uncertainties associated with concentrating on a single market. Therefore, majority of the businesses that have ventured in poster designing and installation are doing so as a way of diversifying their source of income. Therefore, they are not putting a lot of focus on the sector an aspect that creates a gap that will be filled by this company. On the other hand, there are medium sized designers who have been designing the posters and installing them on behalf of the customers. However, there is an increasing demand for advertisement services which cannot be handled by the existing players in the market. The company will therefore focus on providing the target market with high quality designs which are affordable. The graduates are also aiming at charging less installation charges in order to attract the market. This will play a significant role in penetration of the market and positioning the company strategically in the market. The company will be located in Sydney. The reason behind the selection of this location is to ensure that the graduates are able to tap in this market which has been growing over the years. In the past one decade, there have been an increasing number of multinational companies which have invested in the city. As a result, locating the company in the city will make it easy for the company to reach major customers. In addition, the move will reduce the cost associated with getting access to the required materials which will be used to make posters. The design industry in Australia is not regulated effectively. As a result, entry and exit of the market is based on the company’s financial power. However, there are some well established businesses which have been able to position themselves strategically in the market. For instance, Kentaylor, AGDA, and the Narrows have been in the market for a very long time. As a result, they have been able to evolve with time and incorporate the new changes which have been experienced in the industry. However, due to low competition levels, the companies have not put more focus on marketing themselves. This is because there are fewer substitutes in the market and the customers rely on them entirely. This has made them to increase their charges in order to maximize their returns. Through the playful and complex use of colour, materials and forms, the designing of spaces and clear patterns through the use of seamless integration Epic Design aims at creating a very colourful environment that reinforces the identity. In addition, the company will integrate the industrial, architectural, interior, and graphic designs in order to satisfy the interests of the target market. The company will design, manufacture, and install any image onto any service according to the wish of the customer. This can be indoor, outdoor, commercial, or even personal signs. These can be made for the shop front, company van, offices or even cafes. The business will also create logos or designs in three dimensional forms. This will perfectly be according to the customers’ requests. Moreover, the company is in a position to customize customers’ graphics to order to meet demographic region, age, or gender. In addition, it will have the necessary equipments and manpower to design the graphics to reflect a specific season. Furthermore, it will produce graphic programs which are entirely in-house with quick turnaround times. In addition, the program will have an unparalleled attention to detail. On the other hand if the customers’ targets want to access the information through their Smartphones, the company will be in a position to integrate QR codes in the designs. Product and Services Trade Shows Displays Currently, many companies are using trade shows to display their products and services they offer. However, with the increasing competition for space, others prefer to use banners in order to attract the attention of the customers towards their exhibition shops. In order to tap into this demand, Epic Design will be creating various displays for the customers. These will range from A4 poster sizes to huge banners. The sizes will depend on the requirements provided by the customer. However, each product will be prized differently depending on the shape, size, amount of work, and time to be taken to complete them. This is to ensure all work is well pain, an aspect that will prevent losses which might stall the growth of the business. Epic Design will design and produce very outstanding trade shows display that is outstanding. The colour and designs will be blended in order to bring out an eye-catching display. The graduates who have marketing and graphic design expertise will also guide the customers on entire process in order to ensure that they get the best out of their investments. In addition, they will participate in drafting the appropriate message to enable the client market the products or services. The style and custom designs of the displays will be fit the interest of the modern market. Special advice will also be given to the customer on the best time to display the message. In addition, depending on the customer, the firm will enable the customers to decide whether the displays require animations or other promotional items. Backlit graphics Backlit displays are special graphics that are designed to be lit from behind in order to have more colour depth, an aspect that attracts the attention of the passersby. These graphics will be printed on backlit films through the use of UV inks. This is to ensure that that the colours are vibrant and accurate. These products will be expected to have five years indoors and two years outdoors. The film will mainly be put between the two sheets of Plexiglas inside the light box. The maximum width will be expected to be 1200 mm full bleed. However, the length will be unlimited and instead, it will depend on the requirements of the customers. Mainly, backlight display will be covered with crystal laminate in order to be used on trade show backlit frames which mainly come in handy with trade show booths. Moreover, the materials will also be velcroed to the frames in order to attract the attention of the people. The backlit display will be available at all sizes. In addition, they will be printed on a very high-quality laminated material for graphics which are brilliant and durable. In many cases, the indoor backlit printings are more popular for displays and directories. They are commonly found in malls, financial institutions, restaurants, airports, and other special events. The firm will ensure that all materials are available in order to accommodate every type of lighted display and light box. This is to ensure that it supplies both indoor and outdoor displays either for short or long term display. Vehicle Graphics Vehicles have become an important promotional tool. Different companies in Australia are branding vehicles in order to advertise their products and services. Epic Design will ensure that whether the clients want to showcase the businesses, services, or new products, there will always be unique vehicle graphic solutions. This will ensure that they meet the clients’ objectives and the dimensions of the vehicle. When needed, the company will also create a brand or corporate identity. Vinyl banners Vinyl banners provide solutions for the visual communication through creating durable, affordable, and convenient banners that are portable. It provides major benefits whether its for exhibition, retail stores, or other uses by the businesses. Epic Design will therefore produce fade-resistant banners which are of all sizes. They will be professionally produced in order to create a close customer relationship, an aspect that will play a significant role in improving the performance of the business in the market. The company will design job site signs. The banners will have a life of 3 years in sunlight, accurate and vibrant colors, and stronger and tear resistant nylon reinforced material. These banners can be hammered or even grommeted, an aspect that will make them desirable for any business in the market. Epic Design will design and produce trail signs and political signs. Trail signs will be designed in full four color printing. On the other hand, political signs will be looking great with various political lawn signs. They will have affordable solutions. Corporate Signage Image of the business has become an important component towards the success of any business. The demand for corporate signage has increased over the years. As a result, the business will produce corporate signage for both the interior and exterior applications and varying projects. This is through combining the endless material selection with modern fabrication methods. In addition, the business will offer various cutting edge lobbies, conference and reception branding displays. This is in an attempt to match the corporate identity and building décor. Posters and Graphics Epic Design will design and print high quality posters and graphics that are rigid in order to satisfy the interests of the target market. The posters and graphics will aim at bring life to the offices through temporary signs, cut-outs and any other graphics that can be mounted on forex, foam board, or even glass. Furthermore, the posters and graphics can be mounted on polycarbonate, alucobond, colorbond, or even acrylic. This will be a new intervention that will be innovative and up-to-date. Architectural wraps Buildings especially in urban areas have become important advertising tools. Many companies are targeting pedestrians and even motorists through erecting their wraps on the buildings. Epic Design will create architectural wraps which will be able to invite the customers towards the clients businesses. This is through involving the client through the whole process. This will ensure that the clients’ businesses seize the opportunity to showcase their products. In addition, it will enable the businesses to reinforce their brands and marketing position. This will be significant in increasing their overall revenue. The company’s subordinates will go ahead and schedule the installation in a place that is convenient for the business and which does not disturb the business operations. Two architectural wraps that will be made by the company include: 1. Win-Wraps These are wraps that are transparent from inside but bright and colourful when viewed by a person on the outer side. These do not require permits. In addition, they do not require a business to apply to the signage allotment. This has made them to be popular among many businesses across Australia. 2. Wall-Wrap Wall-wrap creates new environment for the business. This is through enabling the business to display the product lines or even the brand values. Epic Design will install on behalf of the business because they are quick and easy to install. Retractable and pull up banners The company will produce retractable and pull up banners. The banners will be easy to use. They will be able to stand on the floor. Mainly, they will have the three pole sections which will require the person erecting them to just pull the banner and hang on the pole. The business will produce both economical and premium banners according to the interest of the client. Premium banners will allow the client to connect up to three stands side by side. Epic Design will also handle the designs, the copywriting and printing of all these banners. Scientific Poster Printing Medical and scientific posters require more attention than business-related posters. The graduates have expertise in scientific research posters. Therefore, they will do them on PowerPoint in order to make it possible to handle them using other graphic design programs. STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS ANALYSIS Strengths Experienced Workforce One of the major strength of Epic Design is abundance of the skills among the workforce. The subordinates who will be the graduates have skills in different areas. As a result, they will be able to bring different ideas together in order to overcome various challenges being faced in the modern market. For instance, while some graduates have skills in making posters, others have majored mainly in marketing. These personnel will play a significant role in marketing company’s products. Being young, they will be able to use social media. Currently, the largest market segment composes of the young generation. These are people who have access to the current technology. In addition, they have a disposable income which they are willing to spend on parties. Therefore, this company will not ignore the role being played by the young people in the market. As a result, it will use the social media in order to attract them towards its products and services. In addition, many customers are using the social media reviews in order to make decision on what to purchase. Therefore, the qualified graduates will be able to use the skills they have learnt in school to their advantage. This will be significant in enabling the business to penetrate the market. Adequate Finances The graduates who are forming this company have been phenomenon in terms of savings. They have spent the bigger part of last year trying to save the money that will be used to start the business. As a result, they have been able to raise enough money to establish the company in the city. The money will mainly be used to advertise the company’s products. This will be significant in attracting the customers towards the products, reminding the customers on the existence of the firm, and persuading the customers to visit the company. In addition, some of the companies that are dealing with the same products have invested heavily in different markets across the world. As a result, they have tried to create a barrier of entry for any interested investor. Therefore, the money will be used to penetrate these barriers and position the business strategically in the market (Jedlicka 2010). On the other hand, the business will require purchasing several machines which will be used in designing and printing of posters. Moreover, it will require special software which will be used in graphic design. This is to ensure that products and services offered to the market meet the expectation of the target market. Diversification of products With the increasing levels of globalization, the risks and uncertainties in the market has increased immensely. One aspect in another country can affect a business in other countries across the world. Therefore, the fact that Epic Design has diversified its operations will provide it with a cushion. In addition, customers keep on changing their tastes and preferences. Therefore, diversified products and services will provide them with variety of products to select from. In addition, it will prevent them from looking for substitute in the market. Diversifying the products will increase the channels for revenue. Businesses that depend on one single source of revenue are at a higher risk than those that have diversified their sources. Therefore,, in case one product is not performing well in the market, resources from other products will be used to boost its performance. This will be significant in improving the operations of the business in the market. In addition, it will increase the competitive advantage of the business in the market. Effective Management Many of the businesses in the market have failed to stand the test of management. However, it’s hard for them to make changed because of deep organizational cultures that are hard to change. Nevertheless, Epic Design will ensure that these challenges are dealt with during inception. This is to ensure that they do not affect the performance of the business once it commences. This will be achieved through developing an effective organizational structure. In addition, roles of each member will be well defined to prevent their duplication. Moreover, communication channels will be set to ensure that all grievances are addressed without any conflicts (Entrepreneur Group & Entrepreneur Press 2012). Moreover conflict resolution department will be established in order to ensure that all conflicts are dealt with amicably before they get out of hand. This is because they can bring fall out, an aspect that can affect various operations in the business. Weaknesses One of the major weaknesses of the business is disjointed workforce. Although the graduates are willing to work together towards a common goal, they all have personal ambitions to achieve. As a result, in case they feel that the business is not driving them towards their ambitions, they are likely to fall out. This is likely to affect the business which relies heavily on their expertise. Many of the graduates who will be forming the business lack experience in real business. Although they are qualified, experience plays a significant role in enabling the business to deal with various challenges that affect the business. In addition, the subordinates are supposed to emanate from different genders, cultures, religious background, and races. This is crucial in enabling the business to deal with diverse challenges. Furthermore, it improves the reputation of the business because customers want to be associated with a company that represents all people who have diversified interests. The current business will mainly focus on the local market. This will expose the business to various economic challenges which might affect its existence. In addition, the employees need experience in other global markets. However, this cannot be achieved at the moment because the business needs to have a starting point. As a result, it will be easy for the competitors who have invested in other markets to deny the business an opportunity to dominate the market. Opportunities Large population Statistics indicate that the population of Australia has increased over the past one decade. On the other hand, the number of people in Sydney has gone up tremendously. These statistics have attracted international investors who have committed their funds in order to tap in this growing market. However, in order to penetrate this market, they need to advertise their products effectively. This has pushed the demand for posters, banners and website designs. This is a major opportunity for Epic Design which can take up the opportunity and specialize in this sector to become one of the renowned businesses in the country. In addition, currently, people have a disposable income, an aspect that is making them to spend it in parties. This has pushed the demand for our products and services a notch higher. New Technology Currently, the world is experiencing a huge revolution in the technological sector. Many companies are yet to invest in the modern technology. As a result, they are unable to maximize their returns and take advantage of the growing demand for their products and services. However, Epic Design has an opportunity to overtake the existing companies through taking advantage of the new technology. The technology will make it possible for the business to increase its efficiency (Ambrose & Harris 2009). In addition, it will increase the level of production, an aspect that will be directly replicated in the overall returns of the business. Expanding the business Currently, it has become very easy to open the business in different parts of the country and the world. With technology such as video conferencing, it’s easier to coordinate the activities of the subordinates. Therefore, Epic Design will use all these means in order to reach a large number of target markets. In addition, the expansion will be significant in the future plans of venturing in the global market. As a result, the business should put more focus on intensive advertisement in order to develop a strong brand. New Marketing Channels Initially, the advertising cost was affecting the revenues of the businesses. However, this aspect has changed with the entry of the internet which is making it possible for people to get access to social media. Social media will enable the company to reach the target market. Majority of the young population are using the channel to look for products and services to produce. As a result, the use of the media will be crucial for the company to reach the young generation which forms the largest market segment in Australia. In addition, the social media will be significant in conducting a research on the needs of the target market. Furthermore, the business will be able to use the channel to collect feedback from the customers. This will enable the organization to provide products and services that will satisfy the interests of the target market. Threats One of the major threats that will face the business is increased investment of multinational businesses in the same sector. With the growing demand for the posters and graphic designs, other investors have started to show their interests in the sector. Therefore, they are likely to shrink the market for the young business. In addition, these businesses have built a strong brand name. As a result, many customers will have confidence in their products and services. Epic Design has a mandate of ensuring that it enters and settle in the market as soon as possible in order to overcome the challenge posed by global businesses. References Ambrose, G., & Harris, P. (2009). The fundamentals of graphic design. Lausanne: AVA Pub./Academia. Entrepreneur Group., & Entrepreneur Press. (2012). Graphic Design Business: Entrepreneur's Step-by-Step Startup Guide. New York: Entrepreneur Press. Jedlicka, W. (2010). Sustainable graphic design: Tools, systems, and strategies for innovative print design. Hoboken, NJ: John Wiley & Sons. Read More