Assignment 3 Business Report

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DIA30003 INTERIOR ARCHITECTURE ENTREPRENEURSHIP & PROFESSIONAL DEVELOPMENT

ASSIGNMENT 3 BUSINESS REPORT FOOD & BEVERAGE BETHANY LO 103620472

Swinburne University of Technology School of Design Bachelor of Design (Interior Architecture (Honours) Bethany Lo 103620472 DIA 30003 Interior Architecture Entrepreneurship & Professional Development Assignment 3 Business Report Semester 2, 2023 Tutor: Linus Tan All Rights Reserved No part of this publication may be reproduced or transmitted in any form by means, electronic or mechanical, including photography, recording or any other information storage and retrieval system, without prior permission in writing from Swinburne University of Technology.

Declaration of Originality and Copyright Unless specifically, correctly and accurately reference 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 DDD30013 Publication Design. While every effort has been made to ensure the accuracy, the publisher does not under any circumstances accept any responsibility for error or omission.

Content Part A: Introduction Designer Profile Part B: Future Context Context Introduction Into the distance: Peculating the world in 2043 Into the near future: Trend Thesis Part C: Existing competitors: Case Studies Business competitoes: General description Business competitors: Value Proposition analysis Competition analysis Strategic Implications Part D: Proposed business identity Visioning your design firm in 2043 Positioning yourself in 2043 Part E: Proposed business development Target client/ User persona Value Proposition Canvas Business Model Canvas Business Desirability Business Feasability Business identitiy Part F: Conclusion Conclusion Part G: Personal learnings Seminar Descussions FInal refelction References

DESIGNER PROFILE Bethany Lo A Third Year Interior Architecture Bachelor student who is passionate about sustainable design. She believes architecture should be human-centred and transcendent to evolove over time according to the needs of society.

With multiple years of work experience in hospitality, Bethany understands and apprieciates the labour of runnning and working in a restaurant.

GIVEN CONTEXT The Food & Beverage Experience of the Future The food and beverage sector continually transforms and adjusts to shifting consumer tastes and trends. Similarly, the interior design of F&B establishments is poised for significant transformations in the years ahead. While sustainability, personalization, and technology integration have already gained prominence due to growing market demands, these trends are likely to evolve even further in the future. Expect interior architecture to push the boundaries of the physical, psychological, and technological realms to unprecedented levels.

This report will focus on how BL Studio, an interior architecture firm, will be approaching these future trends and turn them into business opportunities within the next two decades. BL Studio aims to bring F&B establishments to life through human-centred, innovative and sustainable design.

SPECULATING THE FUTURE 2028

The food and beverage industry is positioned to embrace technology to an unprecedented degree. This entails a continued reliance on contactless ordering systems, online booking, and highly efficient delivery services. Moreover, the industry will begin incorporating artificial intelligence into waste management processes, while designers explore novel technological solutions for sustainable design, construction, and consumables. Proposed designs will become more easily visualized for clients through rendering software and up-to-date modeling and documentation data.

Driven by sustainability concerns and the challenges of overpopulation, the F&B dining experience will become increasingly versatile and adaptable. F&B spaces will have the capability to transform into various configurations within the same establishment, catering to diverse needs. This adaptability will extend to accommodating seasonal events, serving both individual and group dining, and even facilitating two different businesses alternating occupancy during different times of the day or night within the same venue.

2033

Buildings will increasingly prioritize sustainability, with many moving towards complete reliance on alternative energy and gas sources. Designers will harness the power of AI technology to aid in spatial planning and initial concept design. The majority of ordering processes will shift towards contactless methods, reducing the need for extensive restaurant and cafe staffing. Restaurants will leverage customer data and feedback to curate more personalized menus and adapt meal offerings. AI technology will play a crucial role in crafting menu items to meet individual preferences.

Additionally, emotion detecting interior spaces that respond to customer mood will emerge. Cutting-edge technologies such as brain signal, auto-visual, and body language sensors will be integrated into the physical infrastructure of the F&B industry to detect customer emotions. Interior elements will then respond to this data by adjusting colors, dimming lights, and generating personalized audio to enhance the overall customer experience.

We may witness an increased use of robots for both service and food preparation in restaurants. Design software will become more immersive, incorporating elements like smell, sound, and tactile sensations into design concepts. Interior architecture firms will have the capability to provide clients with virtual walkthroughs that engage all five senses. As technology advances, virtual reality will become more accessible and cost-effective, allowing for immersive and interactive interior architecture design walkthroughs that closely mimic actual reality. Interior architects will excel in incorporating two challenging senses, taste and touch, into their walkthroughs with remarkable lifelike accuracy, enabling clients to fully immerse themselves in their designs.

2038

There will be a greater adoption of 3D printing and prefabricated construction methods. The introduction of metaverse dining experiences will revolutionize the industry. Additionally, buildings will have zero carbon emissions and be completely eco-friendly to promote sustainability.

The implementation of lab-grown foods, which require no traditional farming methods and can grow rapidly in smaller spaces, is on the rise. Self-driving cars and drones have become the primary choices for delivery services. Holographic restaurants have the ability to materialize in different locations, operating much like food trucks.

Thanks to technology, interior architects have redefined the boundaries between the physical and virtual worlds, creating flexible and adaptable structures that can manifest themselves in any location. Restaurant owners now travel the world with their holographic outlets, capable of being set up within minutes. A popular business model blending elements of food trucks and traditional restaurants has emerged, leading to increased demand for interior architects to provide such services.

Interestingly, amidst all this technological advancement, there is a potential trend towards simpler service models, where human interaction becomes the main attraction, drawing people in search of community and connection.

2043

Trend Thesis By 2043, the F&B industry is poised to embrace transformable architecture as a cornerstone for catering to the real-time, individualized needs of each customer. The boundary between physical and non-physical architecture has become increasingly indistinct, enabling designers to mold and customize spaces as they see fit. This shift contributes to the creation of unique and intangible F&B experiences in the future.

COMPETITOR ANALYSIS POST COMPANY

COMPETITOR ANALYSIS MASQUESPACIO

COMPETITOR ANALYSIS PATRICIA URQUIOLA

COMPETITOR ANALYSIS AZAZ ARCHITECTS

COMPETITOR ANALYSIS BLOOM ARCHITECTURE

20 YEARS FROM NOW VISIONING DESIGN FIRM

How Our priority is the valuing our clients. We strive to integrate the newest technology and always further and own knowledge through continuous research about the F&B industry and our clients to ensure we are meeting market and client needs.

Why To create a better quality of life and use sustainable design to ameliorate the world.

What We aim to offer unique and personalised experiences that bring joy and illustrate sustainable design. The practice aims to give back to local communities to benefit local economies and people.

OUR VALUES Sustainability

Innovation

Human-centred

Our sustainable solutions revolve around creating a better quality of life and transforming the design industry to be more environmentally responsible.

Our aim to to seek fresh and innovative concepts for every project. We prioritise pushing the limits of research and technology which allows us to face new challenges.

We look for authenticity in each project, working closely with our clients with the aim to create a unique experience for our clients and the end users. Our attention to detail ensures that all client needs are met.

OUR PURPOSE Improve Quality of Life

Minimise Negative Environmental Impacts

Through sustainable design practices we aim to improve quality of life. We strive to use local labour and resources to benefit local communities. We also want to instill construction knowledge in local communities to boost employment and share to future generations.

We aim to minimise the negative impacts of the design industry on the environment. We strive to be sustainable by being environmentally conscious throughout the construction and design process, passive design, and adaptability.

Create Human Connections

We prioritise an open and communicative relationship with our clients. We value creating spaces that foster human connection and encourage community.

VISION STATEMENT “Architecture is a tool to improve lives”

OUR VISION BL Studio is committed to delivering sustainable, innovative, transformative interiors of the F&B industry.

We pride ourselves on creating interiors for our clients that are unique and evoke human connection.

DEFINING OUR VALUE PROPOSITION Gain Creators

Products & Services

Establishemnt and/or continuation of brand

Reduced costs of contruction methods, design and research into zero carbon construction

Delivery of project on time and in budget Incorporation of technology to increase interior functionality Design & Spacial Planning Client-designer platform Marketing/ that keeps clients upBranding services dated in real time Guaranteed 80% of skils, materials and construction techniques are local

Ensure clients final project is sustainable and envrionmentally responsible

Designs that are customer focused to augment dining experience

Updates on latest trends

Environmental Report Feasability Studies

Project management skills

Design software skills Open and honest communication and expectations - daily updates throughout design process

Concept Design Access to industry professionals

Preliminary time spent on client to understand vision

Pain Releivers

Value Proposition

Gains Design that set them apart from other competitors Brand alignment Sustainable design

Design a space that is associated to the brand

Help improve local economies Design solutions that aid in the growth of the business Limited design skills Access to industry and supplier connections

Communicating their idea and vision to design team Create a completely sustainable unique experience for users Detailed designs at a lower cost

Lack of project management and marketing skills Generic designs

Integrate new technologies and trends

Busy schedule and can’t be as involved in process as client would like

Pains

Client Segment

Client Jobs

Experienced design team

20 YEARS FROM NOW POSITIONING PRACTICE

Control Honesty, transparency & client realtionship

The design process

Original & innovative design ideas

Our boundaries and values

Attention to detail & quality of work

Services offered

Influence Exposure and industry networking

Innovation & development

Client budget, expectation and deadlines

Team memeber & stakeholders

Outsourcing skills & services

Suppliers

Concern Competitors

Technoology that takes time to develop and integrate

General population views on emerging ideas, trends & technology

Supply shortages

Market, social, political & economic changes

Start-up and running costs

»

Proficient knowledge in multiple CAD

»

Need to verbally express my ideas more

softwares »

Organised and hardworking

»

Minimal industry experience

»

Good listener

»

Need guidance to know if I’m on the

»

Work well individually and also in a team

»

»

Very organised

»

Young and eager to know more

S O

Stick to my own aesthetic preferences

20 YEARS FROM NOW SWOT ANALYSIS

»

Gain industry experience

»

Practive being in a collaborative industry

»

Build industry connections

»

Improve society and quality of life as a

»

right track

»

W T

Customers will work with someone with more industry experience

»

Customers may not trust a younger designer

»

If I have one aesthetic, customers will

designer

be limited to those who share the

Use design to minimise negative

same aesthetic preferences

environmental impacts

»

Other new and young designers entering the industry

STEEPLE ANALYSIS Social

» Consumer attitudes to more digital and less personal services. » Higher standardsof living means more people will look for unique F&B experience » Ease and acessibility of delivery services and shift to less in person dining. » Urban sprawl - tool to build culture out of CBD. » Comsumer data driven menus closely matched to customer wants, therefore leaves people less surprised/excited. Courpled with everything beong posted on social media. » The growing awareness of diversity, especially concerning race and culture, within society has fostered a greater openness among consumers in the food and beverage industry to explore a wider range of cuisines.

Business owners are increasingly inclined to venture into diverse culinary offerings. » However, the older generations, who often favor stability over change, may contribute to a slower pace in the digitalization of F&B environments. » Improved education and heightened health consciousness have made consumers more mindful of their nutritional choices and dietary intake.

Environmental

» Need for a lower carbon footprint during operation and construction. » Some legislation or issues with permits ie noise, can effect where pop ups can be and operating hours. » Push for more ventillation and spcae for social distancing as a resut of Covid 19. » Consumers show a preference for businesses that make claims of using environmentally friendly materials in their store construction and sourcing of ingredients. » The demand for sustainable built environments has driven business owners to explore alternative solutions, aiming to achieve the same efficiency and functionality while reducing carbon footprints in their designs.

Political

» Unemployment isses may cause the government to put restriction on the digitalising process of the F&B industry to maintain adequate employment levels. » Changing policies around buikding standards, material types and usage can effect how projects are sourced and timelines » Increase in interest rates will leave people wanting more malue for money - opportunity for business » Sustainability codes and regulation in order to be considered operating environmentally resonsibly

Technological

» Use of data - how can we use consumer data in a safe way to offer more personalised and unique experiences? » With ever evoloving technology, how can we future proof design to keep up with QR codes, AI, VR etc. » The continuous advancement in display technology simplifies the process of digitizing and making F&B establishments more flexible. » Advancements in technology focused on understanding people’s real-time emotions, needs, and thoughts can facilitate the development of adaptive designs. » The utilization of powerful software and modeling engines reduces the duration of the design process.

Economic

» Rising rental costs make business owners to look for alternative solutions such as ssmaller venue or alterning with another busniess in the same venue » Rising inflation rates which leads to higher minimum wage is likely to result in digitalised busniesses where less employees are required » Cost of living effects sonsumer budgets » Current economic climete - consumer looking to escape reality » Post Covid 19 restaurants are struggling to find staff - being short staffed means the cost of labour will rise » Cost of living determines how much consumers want to spend

Legal

» When undergoing the digitalization process and possibly transitioning the business onto a cloud-based or IoT platform, it is crucial to establish robust security measures to safeguard the private and legal information of users. » Implementing complex technological installations in a built environment necessitates adherence to legal procedures to ensure the safety and compliance of such equipment, which may extend both the design and business initiation phases. » Diversity and minority laws have a significant influence on any F&B business, obligating employers to uphold equality and transparency both before and after the hiring process.

Ethical

» In the digital age, individuals are placing a greater emphasis on personal privacy. » In the F&B industry, particularly as it embraces diverse cuisines and traditions within a single area, it is imperative to consider and address issues related to cultural appropriation. » The collection and storage of sensitive data, such as sound data, raise questions about how we can ensure its protection. » With a decreasing number of people consuming meat, it becomes essential to assess how this shift might impact kitchen setup and storage requirements.

USER PERSONA Ravi Organised, thoughtful, meticulous Age: 29 Occupation: Data Engineer Relationship status: In a committed relationship Location: Melbourne

Goals

Pain Points

Ravi wants to develop a restaurant that represents his company’s niche and high-tech brand. He wants to showcase his experience in data analytics in the F&B industry to improve business operations, marketing strategies, occupancy rates and yield. He also wants to broaden the company’s image and popularity.

While Ravi is experienced in data analytics, he is not familiar with the F&B industry. He is unsure what knowledge he will need to acquire about the F&B to reach his end goal. He is also inexperienced in the design process and doesn’t know how to develop his visions.

Personality

Brands

Introverted

Extroverted

Tech Savvy

Tech Rookie

Logic

Emotion

Analytical

Creative

BUSNESS DESIRABILITY

TYPES OF CUSTOMER RELATIONSHIPS

Pers Assist

Long Term

Cultivate enduring customer loyalty by consistently delivering exceptional customer service, providing personalised experiences, upholding transparency throughout the design process, and actively responding to feedback.

Foster genuine humanby engaging custome personalized design providing proact accommodating de flexibility, and dem understanding of cust and prefe

TYPES OF CHANNELS Partner Indirect

Enhanced market outreach: enables the company to connect with a broader audience, collaborate with partners, and leverage existing relationships and networks to introduce its services to new customers and markets. » Cost-effectiveness: the capability to expand its reach without incurring substantial marketing or sales expenses. » Heightened credibility and expertise through partnerships. Provides the company with the flexibilty to adapt to changing market conditions. »

Web

Digital representati as an online showc portfolio and employ as a digital storefro information availab allowing them to exp and the b » Data and analytic valuable insights in demographics, preferenc This information can be marketing strategies, e and data-driven d »

sonal tance

Co-creation

To establish a connection among community members and clients, both past and potential, enabling them to share reviews and seek opportunities for customer feedback that can drive company improvements and growth. Our objective is to co-create designs alongside customers rather than just for them.

-to-human interactions ers directly, offering n recommendations, tive assistance, esign changes with monstrating a deep tomers’ needs, tastes, erences.

bsite

ion: The website serves case for the company’s yee profiles, functioning ont. It makes company ble to a global audience, plore the services offered brand identity. cs: The website offers nto visitor behavior, ces, and market trends. e used to refine future enabling more informed decision-making.

Social Media

Enhanced exposure: Social media platforms provide the most effective means to reach a global audience due to their billions of active users, ensuring that a business’s identity is accessible to a vast and diverse audience. » Influencer collaboration: Partnering with influencers who align with the business’s target market can extend the reach of the business identity to a similar audience within the influencers’ own following. This collaboration also fosters trust and credibility with potential customers. » Customer interaction: Sharing content about products and services on social media initiates a ripple effect, prompting users to engage directly or indirectly with the business. This can involve responding to questions and nurturing meaningful conversations. »

BUSINESS FEASABILITY KEY ACTIVITIES Positive Customer Relations

Optimal Design & Documenting

3D Modelling

A deep and personalised grasp of client needs, coupled with a willingness to navigate design flexibilities and limitations, are essential for fostering a positive client-customer relationship that accurately mirrors the company’s identity.

This process holds significance in providing clients with insights into the progress of their projects, as well as in ensuring the construction phase’s requirement for precision and accuracy in all documents.

Certain clients may lack familiarity with architectural drawings, making it challenging for them to interpret such documents. Utilizing 3D visualization proves to be an effective means of communicating design concepts to these clients.

Social Media

Collaborations

Research`

Running social media and the Studio webiste to reach potential clients.

Promote effective project management and team collaboration to cultivate a favorable company culture and a harmonious work environment.

Continuous research and development in design and technology, aligned with market trends and emerging technologies, will open up new growth opportunities for the company within the industry.

KEY RESOURCES Website

InDesign

Showcase the the company’s portfolio and employee profiles, and to share moodboard with client.

Create moodboard layout

Microsoft Word

Pinterest Create a moodboard to make sure the project is in line with the client’s brand.

Create a brief, a return brief, and to make sure the brief gives a good indivative fee.

KEY PARTNERSHIPS Architecture & Design Firms Architecture and design firms benefit from a mutually beneficial relationship, fostering the exchange of expertise and knowledge development. Collaborations within this category can further enhance risk management in the face of project or market fluctuations, offering a safeguard against market uncertainties and minimizing setbacks.

Material Suppliers/ Manufacturers Material suppliers offer competitive pricing, expedited access, and exclusive updates on new materials and their availability. The trusted relationship between interior architects and these suppliers is crucial as it enables them to specify the most suitable products for each project.

Agencies We engage in partnerships with governments, NGOs, private sector companies, and healthcare experts to champion the needs of the most underserved communities and establish scalable models for community-based development and training.

COST STRUCTURES Labour Costs Employee wages, payroll, benefits etc.

Rent & Utilities Office space, electricity, internet, water, etc.

Brand Marketing Brand marketing team, advertising activities, public relations

Insurance Public liablity, professional indemnity, property insurance

Taxes GST, payroll tax, fringe benefits etc.

Licensing Fees & Computor Maintenance

Photoshop, Illustrator, Revit, Autocad, Rhino, Microsoft, Google Drive etc.

REVENUE STREAMS Fundraising Funding from partners, donations, catalyst fund, government funding

Advertising Fee Advertising placements, sponsorships, brand collaborations

Goods & Services Fee Fees from services and goods provided (not including community architecture projects).

Certain deals for recurring clients as revenue drivers.

Documentaries Views and adsense from documentaries documenting projects

Lectures + Talks Ticket sales and online views of lectures, seminars and Tedtalks

CONCLUSION

The F&B industry is dynamic and continually evolving, much like the field of interior architecture. Together, they present numerous opportunities for symbiotic growth. In the future, there is evident potential for the development of architectural forms that center on delivering adaptable, transformative designs tailored to the requirements of F&B businesses, as well as those of their customers.

Architecture doesn’t need to remain static but has the potential to evolve and adapt in harmony with its users.

This evolution can lead to a more human-centric approach, contributing to community well-being and supporting local economies.

Seminar Discussions What do you want out of this unit?

Throughout this unit I want to learn the practicality of how the business and interior architecture industry collaborate and mesh together. I also want to learn how to identify and analyse trends to be able to respond by using interior architecture as a tool to help businesses. I am also keen to learn how to prepare ad present a business presentation.

What are the opportunities for architects in your given topic?

Opportunities for architects in the food and beverages industry include the ability for consumers to have elevated sensory experiences, themed experiences. Interior architects’ have the opportunity to design technology centred experiences that may include AI, interactive experiences, and contactless design.

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

I think it very important for interior architects to be aware and design for future trends because it allows the industry to stay relevant and for design services to be desirable for customers to use. We can see that the industry has increasingly become more technology based with the engagement and refinement of social media, AI and 3D visualisation in the business. If interior designers don’t make this more digital shift, they risk their business. Trends reflect the culture and if interior architects don’t respond to the culture around them, their work is useless as it doesn’t respond to the market or consumer needs.

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

An interior architect’s value proposition can include experience in residential, commercial, retail and hospitality design. Services such as consultation, refurbishment, restoration are also of great value to clients. Critical thinking and problem-solving skills are also valuable when working with clients as the interior designer must adhere and adapt to their decisions. Technical skills in software are also helpful for clients who want to visualise their design in 3D.

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

An architect is the composer and conductor of the built environment, working within a team to create something people with see, use, and experience every day for many years. The value of an architect lies in their well-rounded professional training, skill, expertise, and creativity. Many people aren’t sure what architects do or how they are different than a building design and a drafter. Also, they’re not sure what value an architect can bring to a project. Architects are more than just service providers. They are always working for the client and prioritising their health, safety, and concerns. Overall, yes architects should have a higher value in society and the reason this is not the case now is that people don’t understand and appreciate an architect’s work.

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

Interior architecture firms can provide a unique value if they have done a competitor analysis, so they are able to distinguish themselves and have a unique value. Interior architecture firms can offer clients a personalised experience through clear communication and small design teams. Firms can offer experience in international design practices or sustainable design practices. If a firm is well informed and well researched on new and emerging materials, practices and technologies in design they can be more innovative, which can be of value to their clients.

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

Yes, it’s very important for interior architecture firms to analyse their competitors to understand their strengths and weaknesses to find a gap in the market. In turn this will help you analyse your own business strategy as you can determine what works and what doesn’t. A competitor analysis will help you grow your industry knowledge which you can share with your colleagues and clients. This can also help to structure your marketing and refine your services.

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

Interior architecture firms can establish themselves apart from their competitors if they do a competitor analysis to be informed of what they offer and their business and marketing strategy. By determining the strengths and weaknesses of competitors, firms can be able to distinguish themselves from their competitors by making more informed choices.

Do you think interior architecture firms need to have a long-term vision? Why or why not?

It is important for interior architecture firms to have a long-term vision because it gives the firm clarity and focus which helps employees understand what they are working towards and a sense of purpose. A strong vision helps align stakeholders and employees with similar values. A clear vision also helps decision making as decisions will be made to nurture the firms’ goals and values. Having a vision also helps with the firms branding and reputation to attract customers that align with this vision, and demonstrate to customers, partners, and other stakeholders that the company is committed to its mission and values.

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

I think a firm’s visions and company values need to be well-grounded.

However, an interior architecture firms’ visions should adapt to social, environmental, economic, and technological influences. The company should update their vision to maintain relevancy and demonstrate adaptability, to keep up with competitors and offer leading services and optimal outcomes. Therefore, I think firms should be able to adjust their vision without compromising its direction and values.

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

I think interior architecture firms don’t get appropriately remunerated for their value. Interior architects are often overlooked as they fall between the gap of architect and interior designer. Their services and contribution to a project are valuable as they have extensive technical knowledge that helps assist in creating the function and aesthetic of a space. Interior architecture is often undervalued unless it is already a well-established firm with a large clientele or the firm specialises in a particular niche, only will then clients see its value.

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

The way in which interior architects communicate their values depends on what suits the company. Interior architects can effectively communicate their values to prospective clients by showing how the firms services will personally benefit the client and alleviate concerns. It is important for the firm to have a Unique Selling Proposition to clearly convey their benefits, credibility, and services and how these enhance their value. Further, the firm should express their design processes for a project and explain their past relationships with clients and how they have communicated and included previous clients in past projects.

What is Positioning and why is it important?

Positioning is a vital component of the STP (Segmentation, Targeting, Positioning) model, widely employed in contemporary marketing to assess the way customers perceive a product or service. This analysis is instrumental in crafting a potent marketing strategy. It empowers businesses to devise tactics that influence customer perception through a diverse array of communication channels and categorizes products into three distinct groups: variety-based, needs-based, and access-based categories. Furthermore, positioning assists businesses in forging a distinctive brand identity that deeply connects with the intended audience and sets it apart from its rivals.

Seminar Discussions What does a good business positioning look like?

An effective business positioning involves marketing a brand that deeply connects with its intended audience. It not only addresses the specific desires and requirements of its target customers but also convincingly illustrates how its product can fulfill their preferences and alleviate specific challenges in their lives. Ideally, this positioning centres around a well-defined niche, enabling the company to craft a more streamlined value proposition that offers unmistakable advantages to its target demographic.

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?

I believe there are commonalities shared by various interior architecture business models. In the end, these firms operate within the same industry, all working toward achieving similar design-build results. These models are already widely standardized and firmly established in the industry, so many firms opt to follow them. Industry trends can also contribute to the widespread adoption of these models. However, as technology continues to advance, we might anticipate a shift in business models in response to this growing technological influence.

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

Firms have the option to carve out a niche that highlights their expertise in a specific aspect of interior architecture. Another strategy is to invest in staff training and development, fostering a positive work environment and culture for both current and new employees, which in turn promotes ongoing career and company growth. Offering value-added services to customers can further enhance the firm’s business model, such as a unique service tailored to address specific customer needs. Customers are naturally drawn to brands and services that they can relate to and that provide tangible benefits.

FINAL REFLECTION

This unit has imparted valuable insights into the considerations that interior architects should take into account when embarking on a business venture with the goal of achieving long-term success.

As an interior architect, I’ve come to realize that being adept at design doesn’t automatically translate into the ability to operate a thriving business. It demands considerable effort in terms of research, planning, and shaping the business’s image.

Simultaneously, staying attuned to evolving trends and changing user preferences is essential, and I must be prepared for such shifts.

While I was aware of the industry’s ever-changing nature, this unit has underscored the fact that the industry will undergo significant transformations within the next decade. This realization has underscored the importance of having a long-term vision for understanding the evolving market and trends, and devising a comprehensive plan to position myself effectively for these impending changes.

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