Friday, October 18, 2019

Maximising Sales and Client Base of Contemporary Art Gallery Essay

Maximising Sales and Client Base of Contemporary Art Gallery - Essay Example CAG would be catering to the needs of customers ranging from various age groups possibly from 16-65 and people from diverse lifestyles. The company has a strong belief in values and therefore the employees would be given a 10% gain sharing on the basis of their performance in the next year. Apart from this the company is aimed at acquiring 20% return on its applied capital assets in the next 15 months. Company has identified the following tasks on the basis of short term plan: Approach to the clients for the CAG to identify their needs and tastes more into the roots. Locate the sponsors and investors for implementing the objectives. Establish the infrastructure for the art gallery with all the latest facilities and equipment. Plan the first art exhibition and first musical concert which will held within the next six months. External Environment The external environment for CAG is explained using the PEST analysis. PEST is an abbreviation for political, economical, social and technolo gical analysis. It is primarily used to describe the macro environment for any newly started project in order to analyze the external factors which might influence the business in the short run or in the long run. In the recent times the horizon of pest analysis has broaden to PESTEL which further includes the environmental and legal factors affecting the business activity. Political The stable political condition of the country enables the company to carry out its operation smoothly and soundly. However the expected areas for the political intervention would be tax policy; this will be dealt through modern age accounting solutions such as the principle of depreciation which is a helpful tool in decreasing the tax rate and simultaneously increasing the company... Maximizing sales and client base of Contemporary Art Gallery The paper presents a deep business activity analysis of a Contemporary Art Gallery and future forecasting on the basis of PESTEL analysis and Seven Ps of marketing. It also describes a substantial and suitable mission statement and has also assigned the immediate tasks to be done to improve the business situation. The initial business plan is made on the basis of ‘The Pyramid of Goals’ presented in ‘The Business Plan Workbook’. Within the next 3 years, the aim of the plan is to achieve a significant position in the world of Art as well as in the artists’ lives. Over the next year, the sales and client base is expected to be increased by 15% which would enable the company to achieve the future goals as well. The company has a strong belief in values and therefore the employees would be given a 10% gain sharing on the basis of their performance in the next year. Apart from this, the company is aimed at acquiring 20% return on its applied capital assets in the next 15 months. The plan emphasizes that extending the business operations while considering different external and internal environmental aspects will facilitate the company to maximize its sales and increase the client base. The initial business plan clarifies the aims and objectives of the company and also encourages the employees by assigning them certain goals for a specified time period. Motivated employees play a vital role in increasing the overall productivity.

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