SCAD DFIID Business Project 2021

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DFIID Executive-Summary Presentation LEAD 746 | Winter 2021 | Course Project Part 10 Professor Chris Peeler Student Aiyue Wang

Problem-Definition Statement Potential Customers Market Segments Value of a Solution Preliminary Market Size Blue Ocean Strategy Canvas Customer and Problem Description Minimum Viable Product Value Proposition Canvas The Get/Keep/Grow Diagram Rough Cut Channels Access to Customers Customer-Acquisition Cost Profit and Loss Pro Forma Cash Flow Balance Sheet Dashboard DFIID BMC Final Summary References

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Elevator Pitch for Business Idea

ELEVATOR PITCH FOR BUSINESS IDEA DFIID is an interior design studio focused on creativity. It is mainly responsible for the pre-conceptual design of interior architectural projects, which effectively conveys the designer's source of inspiration and vision for the space. It briefly describes how we create designs and deal with specific design challenges.

In addition, DFIID is also responsible for contacting the rest of the business, such as advertising, construction plan, and decoration design, which are handled by the company we cooperate with.

In short, the design studio is equivalent to a third-party intermediary company, which serves as a communication bridge to connect Party A and Party C.

Conceptual design belongs to the early design stage, which mainly includes two aspects: phase

is

space character and organizational concept. The conception

more

helpful

than

any

other

phase

in

determining

the

basic

fit

between the design and project requirements. Successful design needs to organize all necessary functions in a coherent concept and physical structure to make the user experience more orderly and attractive. dfiid emphasizes the importance of conceptual design and develops its business accordingly.

PROBLEM-DEFINITION STATEMENT

POTENTIAL CUSTOMERS DFIID has a clear target market customers, which will be the basis for this business. DFIID's customer base is mainly commercial design, but also connects with some high-end residential improvement customer groups.

Effective design concepts and the best product mix are critical to DFIID's success and future profitability. The owner has reliable information about the market and has a lot of knowledge about the common characteristics that are expected to become precious and loyal customers. This information will be used to better understand who DFIID will serve, their specific needs and how to better communicate with them.

MARKET SEGMENTS DFIID marketing strategy will enable the target market to have awareness, interest and attraction for the services DFIID provides to its customers.

The target market is divided into four parts:

Municipality Boomers in Transition Professional Youngsters Home Builders The main marketing opportunity is to provide services and design to these clearly defined and easily accessible target markets.

VALUE OF A SOLUTION New Home Construction: Contracted consulting responsibilities with the builders can include one or more of the companies services, i.e. strategic planning, master planning, and lighting, floor or carpet design.

Remodeling Projects: These projects have some of the same characteristics as new home construction (i.e. working as a consultant with builders) but can also include greater control over all aspect of the project.

Interior Design of Existing Home: DFIID will control all aspects of these projects.

PRELIMINARY MARKET SIZE

TAM Resident population of Zhuzhou City

The 2018 census showed that the permanent population of Zhuzhou City

SAM Zhuzhou Family Household

was 4.0215 million.

Zhuzhou has a total of 3.5954 million households with a population of 1.0641

SOM

million households. The per capita housing area is 44.71 square meters.

Age: 18-55

There are 633,400 houses in the city.

Among them, 44.86% of the houses are

Income: annual above

¥1 5 0 , 0 0 0

more than 90 square meters, the renovation cost is more than 50,000 yuan, and the total cost of house renovation is 14.21 million yuan. (About 219,000 USD)

Willing to decorate the house

BLUE OCEAN STRATEGY CANVAS DFIID mentioned the residential project, which is an example of the implementation of the Blue Ocean Strategy in the residential property sector taking into account social infrastructure factors. We have constructed a strategic canvas for apartments and traditional buildings. In this chart, consumer preferences in the form of a set of parameters are horizontally specified. At the same time, these parameters are the competitive factors for the apartments designed by DFIID in the market.

CUSTOMER AND PROBLEM DESCRIPTION Most of the problems during the project work are related to human factors, including

misunderstandings, high expectations, self-centeredness and unwillingness to listen to each other. When the client tries to make any changes to the proposed concept, the designer will feel very frustrated: the client is disrupting the entire process instead of listening to the "professional" voice. DFIID transforms such "predictions" to react positively: it is open to any ideas or suggestions from customers. Our designers are building a home for them, not ourselves!

DFIID emphasizes the importance of conceptual design and develops its business accordingly. How to maintain the company's unique design concept in the current city and attract more customer groups to maintain the company's business development is the current challenge DFIID is facing

DFIID's MVP is our design service: Our comprehensive conceptual design concept for customers.

Service including: Client “I am a designer myself” Lack of trust Private space Perception / imagination

MINIMUM VIABLE PRODUCT

VALUE PROPOSITION CANVAS

Products & Services

Gain Creators

Gains

Pain Relievers

Pains

Customer Jobs

THE GET/KEEP/GROW DIAGRAM

DEMOGRAPHIC

BEHAVIORAL

Age: 18-65

Pursue service

Income: $20,000+ Annual income

Pursue the product

Education: Well-educated

Pursue artistry and design

Family life cycle: Single or married

Pursue other designs

GEOGRAPHIC

PSYCHOGRAPHIC

Country: China

Character: Be kind, friendly, and perfect

Region: Chinese

Hobbies: sports, painting, music

Province: Hunan

Activities: shopping, dressing up, discussing

City: Zhuzhou City

Pets: cats, dogs

ROUGH CUT

CHANNELS

TV CHANNELS On the decoration channels.

PHYSICAL CHANNELS ONLINE CHANNELS

Our design office to related shops

Website, TikTok, YouTube,

and stores.

Facebook, Instagram, etc.

ACCESS TO CUSTOMERS Companies that focus on customers and the companies that make them both unique and successful have been widely introduced by consultants and business media. Usually, they create emotional drive, participation, and even brand experience for customers, thereby separating them from their peers strategically.

Customer obsession, customer-centricity called "from the inside out" has always been the theme of the company. The same is true for DFIID. We value the ideas of our customers and are determined to serve them.

CUSTOMER-ACQUISITION COST

Loyalty program as a cross-channel marketing and communication/influence tool.

Many loyalty program members are active both online and offline. Programs not only need to understand why and how brand- related informal communication is taking place, they need to actively consider incentivizing members to engage in this kind of dialogue.

When members interact through their various connections, this generates a tremendous amount of data from within their social sphere; and these valuable insights can be leveraged to drive both marketing and loyalty program efforts. Building such incentives into the loyalty program, the most influen- tial and engaged customers help drive program awareness, interest, and new member acquisition.

PROFIT AND LOSS

PRO FORMA CASH FLOW

BALANCE SHEET

DASHBOARD

DASHBOARD

DFIID BMC (BUSINESS MODEL CANVAS)

FINAL SUMMARY The focus and shared objects of performance evaluation are the content that can most benefit from customer behavior (loyalty, emotional and communication indicators, such as brand binding and advocacy, instead of satisfaction and recommendation).

Customer service (as well as pipelines and processes) is the primary task of a company, and is regarded as an important and profitable element of value creation. The management model is more horizontal, replacing the traditional hierarchical structure. It also emphasizes the creation or enhancement of value through teamwork and customer tolerance.

Admin, Teams, S., & Hicken, W. (2018, March 26). Get Ready to Dominate Your Interior Design Competition. Retrieved January 24, 2021, from https://interiordesignmasterclass.ca/the-plan-for-domination-beating-your-interior-design-competitors/?c=4a011de101f7 Department, S. (2020). Ethan Allen Interiors Inc. Porter Five Forces Analysis, Porter 5 forces analysis. Retrieved January 24, 2021, from http://fernfortuniversity.com/term-papers/porter5/analysis/646-ethan-allen-interiors-inc-.phpYour Competitive Advantage - Win Clients with Designs You Are Proud Of. (2020). Retrieved January 24, 2021, from https://www.mlldesignlab.com/blog/how-to-create-competitive-advantage-and-win-clients-with-designsyou-are-proud-of Ralph Whittle and Conrad B. Mryick, Enterprise Business Architecture: The Formal Link between Strategy and Results (CRC Press 2004), page 31.

James Martin, The Great Transition: Using the Seven Disciplines of Enterprise Engineering to Align People, Technology, and Strategy (American Management Association 1995), page 104.

Ralph Whittle and Conrad B. Mryick, Enterprise Business Architecture: The Formal Link between Strategy and Results (CRC Press 2004), page 31.

James Martin, The Great Transition: Using the Seven Disciplines of Enterprise Engineering to Align People, Technology, and Strategy (American Management Association 1995), page 104.

Michael E. Porter, Competitive Advantage: Creating and Sustaining Superior Performance (The Free Press 1985), pages 33-34.

Michael E. Porter, Competitive Advantage: Creating and Sustaining Superior Performance (The Free Press 1985), page 40.

The Business Architecture, Value Streams and Value Chains. (n.d.). Retrieved January 17, 2021, from https://www.bainstitute.org/resources/articles/businessarchitecture-value-streams-and-value-chains Infurnia. (2020, February 13). 5 major problems existing in the Interior Design Industry. Retrieved January 17, 2021, from https://www.infurnia.com/problemsinterior-design-industry/ Software, P. (n.d.). Interior Design Business Plan - Market Analysis Summary. Retrieved January 17, 2021, from https://www.bplans.com/interior-design-businessplan/market-analysis-summary/

REFERENCES