IAEPD Final Business Report

a” DESIGN STUDIO

Swinburne University of Technology | School of Design

Bachelor of Interior Architecture (BH-DESTINA)

Ashley Tew Li Wen 104323756

DIA 30003 Interior Architecture Entrepreneurship & Professional Development

Assignment 2 : Business Report Draft

Semester 1 2023

Kevin Shen

All Rights Reserved

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Declaration of Originality and Copyright

Unless specifically, correctly and accurately referenced indicated above, the publication and all other material in this publication is the original creation of the designer submitting this assignment as part of their coursework for DDD300013 Publiction Design. While every effort has been made to ensure the accuracy, the publisher does not under any circumstance accept any responsibility for error or omission.

INTRODUCTION

Designer

Profile x

DESIGN STUDIO

Ashley Tew Li Wen is the director of a” Design Studio, specializes in designing and creating interior spaces that are both functional and aesthetically pleasing, creating and execute briefs by selecting and implementing futuristic elements into space.

The food and beverage industry includes restaurants, bars, catering companies, and related services. Since the pandemic, the industry has shifted their focus onto the future of food delivery and creating upcoming trends of interior architecture that impacts customer psychology and influences on their experience with meals. Food and beverage industry has taken a step forward to utilize interior design as their branding and marketing strategy towards its target customers as it affects how customers perceive the restaurant concept and first impressions. The industry looks to the future of interior architecture by applying rising trends to breathe new life into old restaurans and take new ons to the cutting edge.

INTRODUCTION

Figure 1

The F&B industry is known for being aglie and constantly bringing innovation into the picture. The industry is investing in e-commerce, robotics, and technology. The industry also embracing wellness and health concerns, with food and beverage manufacturers who successfully balance consumer health concerns with affordability being most likely to win consumers. Technical improvements in food science and technology, both in the sector and beyond, are presenting lucrative opportunities.

SPECULATING THE 2028

2033

The digital revolution has changed many aspects of our lives beyond imagination, and it will continue to impact the food and beverage industry. Technology will continue to accelerate at a feverish pace in the F&B industry and permeate every sector and process. Some of the key trends in the F&B industry include the growth of DTC, more robot kitchen assistants, vertical farming, and the demand for vegan food. The future of food and beverage is expected to see increased production, lower prices, improved quality and variety, all while maintaining a commitment to sustainability. Robots and AI will start to take over starting from the kitchen to the dining and serving throughout the whole restaurant.

The industry is expected to explore new avenues for products, sourcing, and technology to become better equipped. It is expected to continue to embrace sustainability and change, with customers demanding higher quality and better presentation, as well as immersive dining experience.

2038

2043

By now the F&B industry will evolved to meet the ever changing needs and expectations of customers, to provide solutions that keep pace with their way of living, to make food and beverage an experience itself. The industry is exploring new destination that is within our reach with the fusion of technology like online alternative dimension, example would be gourmet burger bars, cocktail speakeasies, Michelin chef’s table that is linked directly in front of our dining table at home. F&B industry also make full use of 3D printing to effectively duplicate meals within a short amount of time.

THE FUTURE IN 2043

Digital touch enabled menus

Higher Order multi-sensory dining experience

FACTORS

• Social Distancing

A result of the pandemic that affected human interaction

• Typical dining experiences

No suprise element, dining is no longer fun and to be enjoyed

• Environmental cost & efficiency

An unconventional food consumption that intergrate with technology

TREND FORECASTING TREND

IDEA DEN

Immersive dining using VR

Figure 2

Experimental play with lighting

Figure 3

Figure 4

Figure 5

OPPOTUNITY CARTOGRAM

Experience focused design

• Incorporating all senses

• Focusing on the environment

• How users move through the experience

+

Environmentally conscious design

• Environmental friendly

• Innovative

• Informing users about how the building has been made - creating a greater connection

TREND THESIS

The pandemic still has its effect on the world as technological mediums are still very much in used in the food & beverage sector and also unfortunately worsen the issue of global warming. This became a huge generator for new trends to arise act as solutions to the global issue.

Trend Predictions

• Sustainable interior materials

• Technological implemented ordering system will be maintained

• Immersive, extravagant interior spatial theme

• Dining experience will be more crucial to customers

Since post pandemic, varios F&B brands are rebranding/ are trying to come out with out-of-the-box theme to attract customers back into their market. This allows interior architecture industry to see a continuous growing business oppotunity. But how would one stand out from a crowd of IA firms?

FORECASTING TREND FORECASTING

CASE STUDIES

Business Competitors Overview

Acme & Co is a multidisciplinary design firm delivering a broad range of creative projects. With extensive professional experience in both small and large scale projects.

Flack Studio provides full scope architectural services in the residential, hotel and hospitality sectors alongside furniture, lighting, textile and art curation.

Hassell is a multidisciplinary architecture, design and urban planning practice

IF Architecture is an architectural and interior design company drawing inspiration from art, fashion, psychology, branding, graphic design, social and cultural trends

The Stylesmiths are a leading interior design studio creating intelligent, beautifully designed spaces. We’re all about creating seamless interior design experiences, for homes, hospitality, retail and commercial spaces across London, Melbourne, Sydney and Brisbane.

The 5P Analysis

PRODUCTS & SERVICES

• Hospitality and workplace interior

• Holistic design solutions

• Following themes rather than aesthetics

• Layouts partner with the style of food

• Pushing the boundaries of hospitality

• Each client outcome is unique

GAIN CREATORS

PAIN RELIEVERS

• Boutique experince

• Industry experience in hospitality

• Well equipped softwares

Value Proposition

Product (Services)

• Architecture/ interior design

• F&B and residential focused Price

• Unknown

Promotion

• Social media accounts

• Website Place

• NSW based studio People

• Small group of designers

EXISTING COMPETITORS

CASE STUDIES

• Unique aesthetic interior/ mixing styles

• High media exposure

PRODUCTS & SERVICES

• Hospitality and residential design

• Internal layouts/ interior design

• Providing unique products/ art pieces

• Ability to create meaningful connections with clients

GAIN CREATORS

PAIN RELIEVERS

• Small personal team of designers

• Up to date softwares

• Industry experiences

Value Proposition

Product (Services)

• Architecture/ interior design

Promotion

• Shortlisted top 100 studios by Architecture Digest

The 5P Analysis

• F&B and residential focused Price

• Unknown

• Providing internship program competition annually

• Featured in Vogue, Belle, Inside, AD, Elle etc.

Place

• Residential, commercial, hospitality and retail People

•Tight-knit, dynamic team of young professionals

The 5P Analysis

PRODUCTS & SERVICES

• Hospitality and residential design

• Internal layouts/ interior design

• Real time VR mode

• Active in social media

• Bond with clients

GAIN CREATORS

PAIN RELIEVERS

• Small personal team of designers

• Up to date softwares

• Industry experiences

Value Proposition

Product (Services)

• Architecture/ interior design urban planning

• BIM and VR to communicate

Price

• Unknown

Promotion

• Strong Instagram following ; 50K Place

• International People

• Close to 1000 employees

EXISTING COMPETITORS

CASE STUDIES

The 5P Analysis

PRODUCTS & SERVICES

• 3D rendering and visualisation

• Technology implementation

• Discount rate

• Social media

GAIN CREATORS

PAIN RELIEVERS

• Industry knowledge

• Well equipped with related software

Value Proposition

Product (Services)

• Produce spaces that create delightful experiences for customers

Price

• Unknown

Promotion

• Social media

• Good reputation

Place

• Collingwood

People

• <10 employees

The 5P Analysis

PRODUCTS & SERVICES

• Space planning

• Retail & hospitality design

• 3D rendering

•Budget forecasting

• Item sourcing & delivery

• Instagramable space

• Digital catalog

• Social media

GAIN CREATORS

PAIN RELIEVERS

• Experienced team

• Well equipped with related software

Value Proposition

Product (Services)

• Easy & convenient

• Smooth collaboration between designer and client Price

• Varies between clients and projects

Promotion

• Exclusive perks

• Good management Place

• Residential area

• Retail shops

• Office People

• Design & support team

EXISTING COMPETITORS

RECAP

Generic Design Specific Design

Looking at the competitor analysis chart, Flack Studio and The Stylesmiths focuses more on the full scope in their design services, whereas Hassell, Acme and IF Architecture focuses on specializing in specific design areas to cater for that particular target group. Flack Studio, Hassell and Acme’s design approach are more innovative and creative in terms of constantly coming out with original ideas. On the other hand, The Stylesmiths and IF Architecture prioritises on keep up with the trend and matching the current preferences of their clients.

If I were to use the competitor analysis chart, the best business strategic is to place my firm at the area with the lesser competition, which is either the three areas on the left and bottom. Placing myself at the top right corner might not be a good idea as there is already 2 well established company in the game, and as a result my firm might be overshadowed.

The chart helps me to analyse what my competitor offers, and that helps me to set apart from them. Focus on differentiating my design business from competitors by offering unique services, innovative design solutions, or specialized expertise. Identiify and highlight what sets my business apart and why clients should choose me over others. This could include showcasing a distinct design style, specialized knowledge in a particular industry, or a track record of successful projects. As result I could gain an advantage over interior architecture business competitors.

STRATEGIC

IMPLICATIONS

We continue to embrace technology and innovation, focusing on sustainability and accessibility with the implementation of AI to create unique and more personalized designs in the future. We seek to empower new and existing users with the knowledge to design, deploy, and manage their own applications in design, producing a resilient design delivery system that enables dining experiences to thrive.

VISION 2043

Figure 6

THE GOLDEN CIRCLE

We believe that through merging food and beverage and the advancement of technology with interior architecture, dining experiences of the future will no longer be restricted in one space, it would possess endless possibilities becoming limitless, virtual would turn into reality.

Why How What

By balancing our pace with the trends and changes in every aspect. To fabricate new and innovative approaches to domestic efficiency and circularity using technological advances, disrupting inefficient traditional interior design system.

We provide real time virtual interior spaces preview where clients can experience firsthand with VR. Introduction to cloud meetings and consultation as face-to-face is no longer needed so that it is accessible to anyone. AI analysis of client’s preferrences is conducted to automatively pair up with our own team member that suits the client’s need, which allows the designs to be more personalized.

BUSINESS

• Rapid shift in market trends

• Established businesses in the industry

• Competition with AI in generating designs

• Market become more & more populated in the future

• Create effective alliances & a wide network in the industry

• Use effective marketing techniques to connect with your target audience

• Influence client’s decision through exceptional customer service & cultivating strong relationships

• Clear value proposition

• Maintain an investment in developing your interior architecture knowledge and abilities

• To ensure seamless project execution, implement efficient project management methods and procedures

STEEPLE ANALYSIS

Social

• Changing in client’s preferences

• Lifestyle changes

• Demop]graphic shifts

Technological

• Smart technologies & automated systems

• Virtual & Augmented Reality (VR / AR)

• Digital intergration in F&B practices

Environmental

• Focus on sustainable design & materials

• Environmental certifications, regulations, and standards that apply to F&B industry

Political

• Licensing and permit regulations for F&B

• Safety regulations eg building codes, fire safety etc.

Economic • Fluctuations in disposable income

• Trends in consumer expenditure

• Changes in economic policies

Legal

• Contractual agreements

• Laws pertaining to copyright and intellectual property

Ethical

• Ethical sourcing and supply chain

S T E E P E L

• Inclusivity and accessibility changes

POSITIONING

I want my firm to be recognised for its aptitude for embracing a variety of aesthetics and styles, reactivity, capability for creating spaces that are mold breaking today and in the future.

Personally I’m still lacking in experience, but I will make it up by working for established design firms and learn first hand from there. I will also keep tab on the latest trend news and predictions to keep up with the current.

Figure 7

SWOT ANALYSIS

• A team of designers, strategists, specialists, and architects committed to creativity, innovation, and growth.

• Outstanding knowledge of a diverse variety of styles, aesthetics, and design principles

S• Excellent communication skills, providing valuable insights and feedback to clients

Strength

• Committed to sustainability and accessibility, implementing the best practices needed

• Experienced in virtual mediums and digital forms

• Avant-garde interior designs, not afraid to e periment

w Weakness O Oppotunity T Threat

• Designs are too unrestricted

• More costly

• Balancing the needs and expectations of clients with our own creative vision

• Punctuality and meeting deadlines

• Having access to low-cost/ free student perks software as a student

• Enrolling in an interior architecture course and design pin-up crits for improvements

• Able to take sub courses that aids with our career in the future

• Parents working in the same field

• Lots of existing companies in the field

• Not local Australian

• New to the industry and working society

• Inexperience

TARGET CLIENT

Who’s my target clients?

a” Design Studio tackles with clients such as fine dining restaurants and high class chef soloist who is ambitious on taking dining experiences to the next level

Fine dining restaurants & Solo chefs

a” DESIGN STUDIO Offer design solutions that enables smooth & fast transistion between our clients & their customers

Gordon Ramsay

Michellin star chef

56 years/o

From Johnstone, United Kingdom

Based in LA & UK

Gordon James Ramsay is a well known British celebrity chef, restaurateur, & TV presenter. His restaurant group, Gordon Ramsay Restaurants, has opened 33 restaurants globally, employing over 700 people, and earning 6 Michelin stars.

GOALS

• To work on reopening a restaurant in Melbourne that could sustain for a long period of time

• Switching up the theme of his restaurant instead of the classic sophisticated design, more out of the box design to attrach his customers back

PAIN POINTS

• Gordon has no knowledge in interior architecture design, but he is willing to pay professionals to handle for him

• He needs a restaurant layout that could function even if he is not around

USER PERSONA 1

Gehan Rajapakse

Owner of Fable Melbourne

41 years/o

From Melbourne, Austrailia

Gehan is an experienced operational and strategic entrepreneur and has thrived in his career across multiple industries including technology, property, marketing, and hospitality.

“When you love what you do, and love the people you do it with - it’s not work. It’s a lifestyle.”

GOALS

• To open a new restaurant that is distinct and can stands out in the F&B industry in Melbourne

• He would like his space to enable people interact wiith one another, a immersive & interractive space.

PAIN POINTS

• Gehan is not a creative juice in designing, so he would have a hard time starting up his vision

• He could pay for professionals to assist him, but there is a budget to meet

BRANDS

Figure 9

Our virtual technological design helps fine dining restaurant softwares and mediums to design interior spaces virtually, and enabling convenience of clients by assist in planning design process from start to finish, including all steps and informations of task for customer.

Figure 10

PRODUCTS & SERVICES

• Immersive technological elements in design

• Edit/ change and virtual preview of interior spaces in VR

• Real time online cloud meetings and consultation in virtual space

• Vitual visualisation walkthrough

• Detailed set of drawings and design layout

• Budget forecasting

• Item sourcing and delivery

VALUE PROPOSITION

• Implementing interactive technology into interior space

• Keeping up with current trend, creating aesthetic spaces

• Use of social media/ online platform/ metaverse the ‘new’ world to promote

• Digital catalog

• Utilizing affiliate links

GAIN CREATORS

PAIN RELIEVERS

• Experienced team

• Various team category that oversees the different parts of design process (consult, design, sourcing, scheduling etc.)

• Up to date design softwares that produces digital outcomes

Value Proposition

PROPOSITION CANVAS

• Final outcome meets the client’s needs and expectation

• Help decrease both task uncertainty and information ambiguity

• Capturing unique knowledge which leads to innovation and new service development in their job (which will slowly improve the overall dining sector)

• Have ready final designs to showcase digitally

CUSTOMER’S JOB GAIN

PAIN

• Limited budget

• No knowledge of technical aspects in interior architecture design

• Trouble conveying design ideas

• Study on technological implementation to create fresh dining concept

• Promoting online

• To consult experienced acquaintance in either dining/ technological field

• Be involved in the design process with interior architect

• To experience the space before lauching

Customer Segment

KEY PARTNERS

BUSINESS MODEL

KEY ACTIVITIES

• Partnership with Contractors and Suppliers

KEY PROPOSITIONS

• Equipment Suppliers

• Graphic Designers/ Content Creators

• Chefs and Culinary Professionals

• Effective Branding and Marketing

• Collaboration with Culinary Experts and Professionals

KEY RESOURCES

• Design Team

• Industry Expertise

COST STRUCTURE

• Employee Costs

• Materials and Equipments

• Labor Costs

• Office Rent and Expenses

• Software Subscriptions

• Quality Materials Craftsmanship

• Inovative Design Solutions

• Functional Efficient Design

• Brand Enchancement

MODEL CANVAS

PROPOSITIONS

CUSTOMER RELATIONSHIPS

• Comprehensive meetings

CUSTOMER SEGMENT

Materials and Craftsmanship Design Functional and Design

Enchancement

• Communicate throughout design process

• Continuous help support

CHANNELS

• Referrals

• Online medium

REVENUE STREAMS

• Design Fees

• Project Implementation

• Upgrades and Maintainance

• Restaurant Owners and Chef Soloist

• Architects and Interior Designers

BUSINESS

Key Propositions

Quality Materials and Craftsmanship

Using top-notch materials and working with experienced craftsmen to produce outstanding outcomes.

Innovative Design Solutions

Offering innovative and original interior design ideas that satisfy clients’ aesthetic and functional needs.

Functional and Efficient Design

Designing kitchens, storage spaces, and service stations with a focus on functionality and operational effectiveness.

Brand and Enhancement

Creating captivating and memorable dining spaces that reflect the brand and enhance the overall dining experience.

Customer Relationship

• Utilising comprehensive with clients to learn goals, prerequisites, identity.

• Keeping lines of communication open throughout construction phase, updates, and taking comments into consideration.

• Provide continuing support for any upcoming adjustments or additions.

Channels

• Referrals: Developing connections with entrepreneurs, chefs, business leaders recommend clients.

• Online: Use website networking sites to testimonials, display draw in new clients.

Customer Relationship

comprehensive meetings learn about their prerequisites, and brand communication the design and phase, giving taking client consideration. continuing help and upcoming additions.

Channels

Developing with restaurant chefs, and other who could clients. website and social to publish client display designs, and clients.

Customer Segment

Restaurant Owners and Chef Soloist

• Restaurant owners and independent chefs who are looking to rebrand/ create a unique and appealing dining experience.

• Franchisees seeking distinctive interior styles that adhere to their brand values.

Collaborations with Architects and Interior Designers

• Interior architecture companies teaming up with architects or interior designers that might not be food and beverage industry specialists but require expertise in restaurant or hospitality design.

DESIRABILITY

BUSINESS

Key Resources

Design Team

Employing skilled interior designers, architects, and CAD specialists with expertise in the F&B industry.

Industry Expertise

Keeping abreast with the most recent trends, regulations, and design standards for restaurants.

Key Activities

Foster solid partnerships Contractors and Create and maintain credible suppliers with expertise in the

Effective Marketing

To advertise the firm’s use a variety of marketing methods. Engage marketing initiatives with clients who may interested in my product in the F&B sector.

Partnership with Culinary and Professionals

Work closely with prehend their operational branding, and culinary Make sure the final flects the client’s objectives being involved throughout design process.

Activities

partnerships with Suppliers maintain a network of suppliers and contractors the F&B sector. Marketing and Branding firm’s services, marketing Engage in targeted initiatives to connect may be product service

Key Partnerships

Equipment Suppliers

Collaborating with manufacturers and suppliers of furniture, appliances, and equipment for commercial kitchens.

Content Creators

Collaborate with graphic designers or marketing team to manage the firm’s social activity to stay active and relavant.

Culinary Experts

Professionals clients to comoperational needs, culinary vision. final product reobjectives by throughout the

Chefs and Culinary Professionals

Establishing connections with qualified chefs and other food industry experts to get their feedback on kitchen layout and functionality.

FEASIBILITY

Cost Structure

Materials and Equipment

Budgeting for the procurement of quality materials, fixtures, and kitchen equipment.

Employee Costs

Allocating funds for salaries, benefits, and ongoing training for design and project management professionals.

Revenue Streams

Design Fees

Cost of providing interior design, space planning, and idea creation services.

Project Implementation

Generating income through project management fees and commisions from the purchase of supplies, furnishings, and equipment.

Upgrades and Maintainance

Providing continuing design upkeep for current clients.

BUSINESS VIABILITY

Labor Cost Office Rent Software Subcriptions

CONCLUSION

In conclusion, interior architecture firms have a plethora of potential in the future of the food and beverage industry. They will be able to develop intriguing spaces that enrich the dining experience and make a lasting impact on diners by remaining tuned in to ever-shifting consumer trends, technology breakthroughs, environmental aims, and the merging of culinary art and design. Interior architecture firms are poised to impact the future of food and beverage through the application of their expertise in space planning, interior design, and material selection to make it more thrilling, interesting, and immersive for both chefs and diners.

SEMINAR DISCUSSIONS

WEEK 1

What do you want out of this unit?

To improve my knowledge of business identity issues as they pertain to interior architecture, and to be able to build professional abilities in connection to the practice of interior architecture on marketing and entrepreneurship. I want to learn about mode-of practice strategic planning and competitor analysis in connection to a future career in interior architecture so that I may assess new and developing professional difficulties and be able to anticipate client expectations in my firm.

What are the opportunities for interior architects in your given topic?

The F&B business has long benefited architects. Even when the pandemic struck and stores closed never endingly, I noted that another retail chain would always take over the lot one after the other. And the result? The shop would be refurbished every time. Since the lockdown, social media, particularly Instagram has risen, creating a domino effect in the F&B business, where the tendency has become interior aesthetics trumps food quality. Cafes continue to compete visually, and with more F&B establishments remodeling extravagantly, interior architects have a plethora of opportunities and business in the industry.

Should interior architects be aware and design for future trends? Why or why not?

Absolutely. As a designer, keeping up with the trend is one of the most crucial steps in leading a successful business. Designers should learn about the different styles of interior design so they can match their clients’ needs. it enables designers to start thinking about how they can make variations in their designs to accommodate for future trends in interior design. I became increasingly aware that as a designer, you need to be aware of trends and their influence on the consumers’ buying decision. To put it simply, you cannot design and then get the consumer to desire the product, the design needs to suit their needs and desires.

WEEK 2

What do you think is an interior architect’s value proposition to their clients?

One of the value propositions would be their proficiency in designing interior spaces that are both practical and aesthetically pleasing, To examine a client’s requirements and preferences in order to provide design solutions that strike a balance between form and function, subsequently managing the project from planning to completion, which includes setting a budget, organising tasks, and keeping an eye on construction. Utilise knowledge of materials, lighting, colour, and texture to choose and arrange them in a way that makes the most use of the given space and improves the client’s experience. Interior architects should use sustainable design techniques to lessen their influence on the environment and increase energy efficiency as the focus on sustainability increases globally. Overall, an interior architect’s value proposition is to offer customers a full range of design services that satisfy their requirements, improve their quality of life, and increase the value of their home.

Do you think we as an industry need to strengthen the architect’s value in the public’s eye? Why or why not?

Definitely. We can raise public knowledge and admiration for the profession by emphasising their principles and contributions to society. Interior architects will provide value and save money through enhancing productivity, functionality, and efficiency in homes and buildings, as well as networking with industry colleagues to secure additional contracts. It might also supply customer-facing sales materials and aid in the building of loyalty with interior architects. It is critical to increase the interior architect’s value in the public eye to continue generating creative and lucrative solutions that improve the world we live in.

WEEK 3

What value do interior architecture firms provide their clients, and is this value unique?

Interior architecture firms employ professional designers who can assist customers in creating efficient and visually beautiful environments that match their individual needs and preferences. They collaborate closely with clients, contractors, and other stakeholders to ensure that everyone is on the same page and that the project runs successfully. They also staffed with an integrated team which also includes customer support, finance, management, and sourcing to supervise the whole design and construction process, ensuring that the project is completed on time and on budget. This value is unique as clients always seek for interior architects that do not offer such services, often times clients suffer with having to outsource materials themselves, managing time and budgets with each individual workers seperately.

Is it important for interior architecture firms to analyse their competitors? Why or why not?

It is important for several reasons, firms can determine their strengths and shortcomings by analysing their competitors. This can aid them in identifying areas for improvement as well as areas where they have a competitive advantage. Firms also could remain competitive in the market by learning what their competitors are doing. They are capable of recognising new trends and advances and incorporating them into their own designs. In addition, firms could distinguish themselves by learning what their competitors are doing. This will help them stand out in the industry and attract more customers. Other than that, firms should analyse to discover prospective risks. Firms can identify potential dangers to their company by analysing their competitors. For example, if a competitor offers a similar service at a cheaper price, the firm’s pricing strategy may need to be adjusted to stay competitive.

How can interior architecture firms establish themselves apart from their competitors?

Interior architecture firms could distinguish themselves by providing personalised services that respond to their clients’ specific demands and preferences. Customising designs to fit unique lives, finances, and aesthetic tastes is one example. A strong brand may help interior architecture firms stand out from their competitors. This may be accomplished through having a distinct brand identity (logo, slogan), maintaining a strong internet presence, and establishing a reputation for quality and innovation in the sector. Another thing that sets themselves out from their competitors is to have a distinct design style that distinguishes them from others in the industry. By introducing aspects like as colour, texture, and materials that are uncommon in the sector, or even adopting new technologies and implementing them into their design processes.

WEEK 5

Do you think interior architecture firms need to have a long-term vision?

Why or why not?

Yes, because it helps them keep focused on their goals and objectives, it is crucial for interior architecture firms to have a long-term vision. They can strategy for the future, and adjust to new trends and technology if they have a long-term perspective of the future. They can attract and keep customers, position themselves as leaders in their field, and develop a strong brand identity with the aid of a long-term vision. Interior architectural firms may find it difficult to remain lucrative, competitive, and relevant in the long run without a long-term strategy.

Should interior architecture firms update their visions regularly, or maintain one for the entirety of the business?

To remain current and competitive in the market, interior architectural firms should periodically update their visions. By updating their vision, they are able to respond to emerging trends and technology, foresee market shifts, and develop long-term plans and strategies. To stand out in the middle of competition, differentiation strategy is equally crucial. However, it is important for the interior architecture firms to still be align with the firm’s core values and mission while updating their vision over the years so that they will not lose their goal and the firm’s authentic style.

WEEK 6

Do you think clients remunerate interior architecture firms’ value appropriately? Why or why not?

It is difficult to determine as it depends on situations, but a lot of the clients whom are inexperienced may not fully understand the value that interior architecture firms bring to their projects, leading to lower compensation. Particularly now where clients always are constantly in a search of a lower cost but produce 100% quality, what they don’t know or see is the complicated work progress behind the scene that adds bit by bit to the cost.

How can interior architects better communicate their value to prospective clients?

One may be to explain the time, money, and complications your services can save them. Show how their design ideas may enhance clients’ quality of life and raise the property’s worth when resell. Describe the steps in your design process. Be open and honest with your clients and the public about your design process. A project’s methodology, information gathering process, and presentation of your design thoughts should all be described so that clients will know where the costs flow from.

What is Positioning and why is it important?

Positioning describes how clients view a brand in relation to its competitors. It is the practise of giving clients a distinct perception of a product or service in comparison to other brands on the market. Positioning enables a product or service to stand out from competing products or services on the market and to provide clients a clear mental representation of it. Business positioning is crucial since it aids in developing a distinctive identity for a brand, good, or service and makes it easier for clients to relate to the company. Additionally, it aids in strengthening a company’s ability to compete and justifies price choices.

What does a good business positioning look like?

A good business positioning should represent the company’s beliefs and personality while remaining true to its brand. It should be unique and distinct from its competitors, providing the company with a competitive edge in the market and making it easier for the public to remember and recall. A good business positioning should be tailored to the demands of the target audience. It should be clear and straightforward, outlining what the company does and how it helps its clients, and it should be consistent in the end quality it creates across all marketing materials and channels. It should also be forward-thinking, anticipating future market trends and developments.

WEEK 9

Do you think interior architecture firms have different business models or do most firms use the same generic business model? Why do you think so?

In my opinion interior architecture firms uses different business models, one of it is experience-based model. This model is for firms who place a high value on giving their customers a top-notch experience. They put a lot of effort into forming bonds with their clients, learning about their wants and preferences, and providing individualised solutions. Another one would be expertise-based model. This model is intended for firms that concentrate on a single field of knowledge, such as healthcare or sustainable design. To provide their clients a special value, they put their attention on gaining indepth knowledge and competence in their field.For efficiency-based model, this model is intended for firms who are more efficient or less expensive than their rivals in completing tasks. To save expenses and boost revenues, they put their attention on simplifying procedures and maximising output. Depending on their objectives, core beliefs, and target market, some firms may choose to combine these models or create their own, which is why we will feel a lot of overlapping going on in the industry.

How can interior architecture firms strengthen their business model to stand out from other interior architecture firms?

Interior architecture firms can strengthen their business model by creating a distinctive value proposition that highlights the advantages they provide to clients and distinguishes them from rivals. They should also select a business model, that is suited and consistent with their goal and principles. In addition, interior architecture firms could simplify operations and increase efficiency, business support technologies with project management and accounting capabilities tailored for the industry.

The process of creating a business proposal may be difficult yet rewarding. I picked up a number of crucial lessons during the process that I could implement in the future. The significance of comprehensive investigation and analysis became clear during the development of the business proposal. I discovered how crucial it is to fully understand the target market, market trends, and competitors. Making sensible choices and offering clients custom solutions are made possible by this knowledge. Furthermore, it takes strategic thinking to develop unique selling qualities, set oneself apart from competitors, and add value to clients while developing a business proposal. Through this, I developed the ability to evaluate my business and the market’s SWOTs.

I had trouble striking a balance between being succinct and comprehensive during the process of developing a business proposal. I have to learn how to simplify material without losing its fullness or clarity. I honed my skills to prioritise important topics and effectively explain them in order to meet this task. I will put this skill to use in my career by making sure that I communicate clearly and effectively while offering thorough information when required. I will also prioritise conducting thorough research to stay abreast of market trends and present creative solutions in the future.

Overall, the process of developing a business proposal gave me insightful knowledge about the complexity of business planning and strategy. I gained knowledge about the value of research, strategic thinking, clear communication, and problem-solving skills. By applying these skills to my career, I will be more equipped to formulate competitive business proposals, and prosper in a fast-paced business environment.

REFLECTION REFLECTION

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