Executive Summary The art market in which Saffronart operates is notoriously cyclical with booms followed by inevitable busts. The strategic issue it faces is the uncertainty of where the art market is heading. The problem is that Saffronart cannot extend its sources of competitive advantage to markets outside of India and modern schools of art. For this reason, Saffronart is recommended to vertically integrate in India by entering the primary market and competing with galleries and dealers. This solution is optimal and actionable in India if Saffronart uses its sources of competitive advantage. Industry Analysis The fine art industry is profitable as most forces as buyer power, supplier power, threat of new entrants, threat of rivalry, …show more content…
This is true since Saffronart worked “patiently to build trust” by “partnering with galleries that the founders already had relationships with” in India. Minal and Dinesh may not have these same relationships with contemporary-specific galleries in new regions like Pakistan. Thus, a shift in the art market threatens Saffronart’s sourcing system. Second, Saffronart’s team cannot extend their knowledge and experiences in modern Indian art to new segments. Exhibit 3 reveals that of the 5 team members, only one—Yamini Telkar—has a degree in Fine Arts. The others received degrees in Mathematics, Electronics, Commerce and Marketing. Thus, if the market shifts to contemporary Pakistani segments, all but Yamini may not be able to adjust to the shift. The threats associated with the strategic issue intensify when considering imitators such as Christie’s and Sothbey’s. These imitators have aggressively improved their sourcing tactics, diversified into multiple segments, and built barriers to protect against competitors in the expanding secondary market. For one, their relationship with galleries and consignors is so strong that it has forced Saffronart to lower commissions that they charge to consignors (Khaire and Wadhwani , pg. 10). There is nothing stopping these international players from doing the same in emerging markets since they possess the economies of scale and have
Art galleries are essential to the art world, however, is not the only source for audiences to view art. To begin with, art and artwork is defined as the application of human skill, creativity and imagination. Taking this into consideration, individuals need to examine the nature and purpose of art galleries as a facility to collaborate, organize and display a collection of artworks. As art however, is any expression of human creativity, its presence is not bound to art galleries and is evidently present in the world around us be it in photographs, the internet or even in graffiti.
Margaret Lazzari (Author),. "Exploring Art: A Global, Thematic Approach 5th Edition." Exploring Art: A Global, Thematic Approach: Margaret Lazzari, Dona Schlesier: 9781285858166: Amazon.com: Books. N.p., n.d. Web. 29 June
"Exploring Art: A Global, Thematic Approach, 5th Edition. "Exploring Art: A Global, Thematic Approach: Margaret Lazzari, Dona Schlesier: 9781285858166: Amazon.com: Books. N.p., n.d. Web. 11 July
Working in studios is the key to promoting and selling their successful works of art.
Her success has recently come in 2011. My plan is to open a second sleep study in San Antonio, Texas. Roxanne will continue to manage the center in Corpus Christ and will help me virtually manage the San Antonio location. Because Roxanne has the information needed to model her sleep center it will be much easier to open up my own sleep evaluation center based on her proposal.
Strategic planning is a critical element of an organization’s annual business plan. A strategic plan consists of a number of components. In addition to analyzing a company’s strengths and weaknesses, a strategic plan also includes implementation and control techniques. While this may seem easy enough, implementing a strategic plan into an organization can be challenging. Barnes and Noble, like a number of corporations are seeking ways to improve productivity and profitability. This essay will identify business alternatives for the bookseller which will enable them to diversify their product offerings.
The Los Angeles County Museum of Art, or LACMA as it is commonly known, is among the world’s largest art collections in North America, and to be specific enough the most prevalent artwork in the western United States (Compton 165). This massive art museum has a collection of over 100,000 artworks, which extends from the ancient times to present days (Gilbert and Mills 174). These collections, which are mainly from Asia, Africa, Europe, Latin-America and America itself, are grouped into several departments within the museums buildings, depending on the region, culture, media, and time period. This paper analyzes the different genres of art and explains the main features that make the Islamic artworks
Chapter One selects works of art from a wide variety of cultures and times. What might you not notice about Fig. 1-8, if you did not know that the Mugal ruler Akbar believed that “a synthesis of the world’s faiths would surpass the teachings of any of them.”
Pros – If Lancer were to decline this offer from the mass department store the advantage lies in their brand and the image that they maintain in the market. If they were to accept all terms of the offer that pertain to the contract it means that the gallery would have to start sourcing and selling products that are not up to the usual standard that they are known for. So if the company decide to decline the contract they would remain at the top of the market in terms of quality and brand identity.
DeviantART (also known as dA) is a website widely known as an online art market to artists today as a place to showcase or sell their artworks. The site made it possible for artists to upload their original artworks for the public to see and perhaps for other to purchase. The deviantART community has dramatically influenced many contemporary artists to now rely on the use of an online gallery to both display and sell their works as opposed to depending of a gallery in the offline world. deviantART has caused a shift in the way the economy revolves around the art market and art world. This is by its adoption into the art world, its uses and its effects on the art market. A major source that will be majority referenced on will be a interview
The relationship between art and commerce has always been subject of hot discussion. Many people look at creativity as a vehicle for economic interest, while others view it as pure dedication for personal creative needs. The world as we live in today sees the creative industry, including visual and performing arts, sound recording, book publishing, and movie making, a highly commercialized global enterprise. People constantly buy and sell art products in a highly active market. Although it is difficult to conclude whether art and commerce is perfectly compatible or mutually exclusive, one thing is true, that the relationship between the two has not stayed constant throughout the history of art. From the early Renaissance period to contemporary and modern time, we see art gets intertwined with business more and more. There are multiple well known historical examples demonstrate the dynamic evolution of creative expression, though new system also brought challenges.
Anish Kapoor, one of the world’s most distinguished and significant contemporary artists, was born in Mumbai to a Punjabi-Hindu father and an Iraqi-Jewish mother. He has studied art at the Hornsey College of Art and Chelsea School of Art Design. In the 1980s he surfaced as one of the several British sculptors working in an innovative style and gaining global recognition for their work, like Tony Cragg, Richard Deacon, Anthony Gormley, and Bill
Throughout the vast history of art, historians can find connections throughout the centuries. Artists from the beginning of humankind have been inspired by the world around them. From the Apollo 11 stones to present day, history and culture have provided inspiration and have been the focus of various pieces. Examining artwork from the 15th-18th century, viewers can be shown a whole world that would be unknown to us without these artist’s contributions. History, religion, and cultural events have sculpted the art world, and we can observe this through many pieces during the 15th-18th centuries.
Two basic types of paintings can be distinguished in the way the truck sides are done. The first is simple 'painting', which is basically a picture on each segment on the sides with some additional ornaments. The second type, which leaves no square inch uncovered, is the 'Disco Painting’. These 'disco trucks' are the real master pieces. Every time you look at them, you discover new images and decorations. But whether “simple” or “disco”, the paintings on the sides are never identical, and not only because the name of the owing company is written in Urdu on one side and in Roman on the other.
Today, Sorzal Distributors count eleven major players in the artifacts industry that compete directly with them. This number of competitors in addition to others- is a proof that the artifacts business is an attractive industry with low entry barriers (in terms of regulations and capital). In fact, the market of artifacts witnesses different players in terms of nature of their products, scope of business and channels of distribution. These can be importers/distributors, specialty dealers, department stores, amateurs and dealers who sell their products through internet. These competitors display fierce competitive moves ranging from dealing directly with Sorzal's suppliers to selling fake artifacts at exorbitant prices in different locations of the country. (R. Kerin, R. Peterson (2005). Strategic Marketing Problems cases and comments (10th Ed.) In such industry circumstances, Sorzal's initial market segmentation has been blurred. Initially, the company targeted buyers of authentic pieces of artifacts in the United States namely collectors, then responded to its small customers number of gift and decorative items buyers. After the entrance of all these competitors to the market, Sorzal should reconsider