WEEK 1 PROJECT SCHEDULE
WEEK 2 THREE-PRODUCT PITCH
This project pitch was for pyrography etched bookmarks, books, and pencil cases. For the final products I removed the bookmarks from my line and added iPad cases instead.
Custom Leather Books - Leather - Unique designs - Pyrography
Bookmarks - Wood - Portraits
Pencil Case - Leather - Arts & Crafts movement - William Morris
WEEK 3 WOW NAMING EXERCISE
Naming Worksheet
™
The name will be one of the most identifiable elements for the entire life of the brand. Creating the right name is a mix of creativity, meaning, impact, use and of course, availability. WOW’s naming process starts by exploring possibilities in each of the following categories. As you work
Playful Origin Invented Descriptive Technical
Conjoined Acronym
through this sheet, you may find that some names are actually a combination of more than one. The goal of this exercise is to get as many ideas as possible and uncover which stream the greatest. For this reason we ask that you
Corio, Stiches, Dragonair.
Thurlow Studios, Gold Coast Leather, Southport Pyrography.
Tyrosurn, Blanch, Sewtwo.
Burn & Etch, Burn & Stich, Handmade Leather Goods.
Pyrography, Leather Coperation, Pyroburn.
Peacefire, Pyroburn, Leatherstitch.
TH ST, PP, B&S.
Metaphoric
Architecture, Euphoria, Life.
Random
Hands Down, Jupiter, Wood.
Playful, Irreverent, Arbitrary, Oxymoron Names that challenge the ordinary. (Yahoo/Monster/Steel
Completely made up words. (Kodak/Viagra)
Conjoined Names that are a combination or
Thurlow Studios
Peacefire
Corio
Burn & Stich
Pyroburn
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WEEK 4 BUSINESS MODEL CANVAS
The Business Model Canvas
Designed for:
Thurlow Studios
Designed by:
Tayla Thurlow
Key Activities
Value Propositions
Customer Relationships
Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform?
What Key Activities do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue streams?
What value do we deliver to the customer? Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying?
motivations for partnerships: Optimization and economy Reduction of risk and uncertainty Acquisition of particular resources and activities
categories Production Problem Solving Platform/Network
Leffler - leather supplier.
The key activities that my company cooperates closely with Julia Burton Burns Trust to create a new product line to help people in Australia with burn injury’s.
characteristics Newness Performance Customization “Getting the Job Done” Design Brand/Status Price Cost Reduction Risk Reduction Accessibility Convenience/Usability
What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they?
Leffler and Spotlight will provide my brand with the materials that I need to create the products. Julia Burton Burns Trust - non-profit organisation dedicated to burn injury. Julia Burton Burns Trust will provide my brand with a joint partnership in helping Australians burns victims, which ties closely towards my own brand that creates handcrafted leather pyrography goods.
Key Resources
The value we deliver to our customers is of high quality because the products are catered to the middle class and wealthy consumer. If The customer is not happy with the product then a full refund will be supplied once the product has been shipped back to us. We will provide free shipping for orders over $60 to satisfy the customers needs.
is your business more: Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing) Value Driven ( focused on value creation, premium value proposition) sample characteristics: Fixed Costs (salaries, rents, utilities) Variable costs Economies of scale Economies of scope
Leather: Side Mahogany Waxy Panel 1.9mm (SQ FT) $8.25 per square feet 11 ft = 1.021933m² $90.75 for 1m² Felt: Grey & Black $6.63 per meter² Australian post cost $16.85 for Postage and handling
www.businessmodelgeneration.com
Modern businessperson, Wealthy and midrange wage, 20-50 years of age, Male and female.
Channels Through which Channels do our Customer Segments want to be reached? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines?
What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams?
channel phases: 1. Awareness
The key resources required is leather from Leffler, which is an Australian wholesaler. I will also be using the Australian Post system to give everyone their products.
Cost Structure
Customer Segments For whom are we creating value? Who are our most important customers?
My brand brings a modern stylish appeal for the average businessperson. They can expect a professional look and feel towards my brand. I have already established that my brand will include Australian leather hand crafted for perfectionists.
How do we raise awareness about our company’s products and services?
2. Evaluation How do we help customers evaluate our organization’s Value Proposition?
3. Purchase How do we allow customers to purchase specific products and services?
4. Delivery How do we deliver a Value Proposition to customers?
5. After sales How do we provide post-purchase customer support?
Raise awareness through magazine advertising and online presence. Contact leading magazine brands to post advertising in their books and use Facebook, and Instagram for banner adds. The most cost-efficient way of advertising is through facebook.
Revenue Streams For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? types: Asset sale Usage fee Subscription Fees Lending/Renting/Leasing Licensing Brokerage fees Advertising
fixed pricing List Price Product feature dependent Customer segment dependent Volume dependent
dynamic pricing Negotiation( bargaining) Yield Management Real-time-Market
Our brands products are expensive and that is because real leather doesn’t come cheap, but my brands reputation and sophistication will cater towards the modern businessperson. Customers can pay online through the website.
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Month
Year
23/03/15
Mass Market Niche Market Segmented Diversified Multi-sided Platform
examples Personal assistance Dedicated Personal Assistance Self-Service Automated Services Communities Co-creation
types of resources Physical Intellectual (brand patents, copyrights, data) Human Financial
What are the most important costs inherent in our business model? Which Key Resources are most expensive? Which Key Activities are most expensive?
Day
Iteration:
Key Partners
Spotlight - other materials.
On:
No.
1
WEEK 5 STYLING MOOD BOARD
WEEK 6 BUSINESS PLAN
My Business Plan My business details
21 Barrine Dr Worongary QLD 4213
Business structure Sole trader, partnership, trust, company.
ABN
Tayla Thurlow Your name
Registered Australian Business Number.
ACN
Tayla Thurlow
Registered Australian Company Number, if applicable.
Your title
GST
Graphic Designer, Manager
Are you registered for Goods and Services Tax? Date registered?
Business name
Domain names
Thurlow
Thurlow Studios
Main business address
Licences & permits
21 Barrine drive Worongary QLD 4213
List all the licences or permits you have registered
Management & ownership
ABN
Tayla Thurlow Names of owners
ACN
Tayla Thurlow
Details of management & ownership
The Business
CEO
Business Details
Experience
Handcrafted leather pyrography engraved goods.
Graphic Design
Products/services
Products/services
Products/Services
Handcrafted leather pyrography engraved goods.
Registration details
Engraved Fern Book Thurlow Studios
Product/Service
Business name
Engraved Fern Book
Thurlow Studios
Description
Trading name(s)
This beautiful engrave fern book is stylised to ďŹ t the perfect modern business person. This book is made from 100% brown leather with an intricate burned design
Registered trading name(s)
Price
Date registration
$50.00
13/4/15
Engraved Flower Book
Location(s) registered
Product/Service
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Engraved Flower Book
Price
Description
$80.00
This beautiful engraved flower book is stylised to fit the perfect modern business person. This book is made from 100% leather with an intricate burned design.
Market position My products and services fit in the high end market because of the quality leather provided by Australian wholesaler. Compared to my competitors I bring great customer service that will keep them coming back.
Price $50.00
Engraved Fern Pencil Case Product/Service
Market position
Engraved Fern Pencil Case
My products and services fit in the high end market because of the quality leather provided by Australian wholesaler. Compared to my competitors I bring great customer service that will keep them coming back.
Description
Unique selling position
This elegant fern engraved pencil case is stylised to fit the perfect modern business person. This pencil case is made from 100% brown leather with an intricate burned design.
Price $40.00
My products and services are better than my competitors because there isn't a market out there yet for engraved pyrography burned designs in leather, which gives my brand originality and more respect. Unique selling position
Engraved Flower Pencil Case Product/Service
My products and services are better than my competitors because there isn't a market out there yet for engraved pyrography burned designs in leather, which gives my brand originality and more respect.
Anticipated demand
Engraved Flower Pencil Case
Description This elegant flower engraved pencil case is stylised to fit the perfect modern business person. This pencil case is made from 100% brown leather with an intricate burned design.
Price
The anticipated quantity of products and services my customer are likely to purchase at least 2-3 products a year. Anticipated demand The anticipated quantity of products and services my customer are likely to purchase at least 2-3 products a year.
$40.00
Engraved Fern iPad Cover
Pricing strategy My pricing strategy is to markup 20% of original costs for the materials and costing to make per products. This strategy runs wide around the globe and best fits my customers needs.
Product/Service Engraved Fern iPad Cover
Pricing strategy
Description This wonderful fern engraved iPad case is stylised to fit the perfect modern business person. This iPad cover is made from 100% brown leather with an intricate burned design.
Price $80.00
Engraved Flower iPad Cover
My pricing strategy is to markup 20% of original costs for the materials and costing to make per products. This strategy runs wide around the globe and best fits my customers needs.
Value to customer My products are essentially needed in every business persons trade. I have catered to the modern business person because most carry around a iPad/tablet, book, and pencil case in their suitcases.
Product/Service
Value to customer
Engraved Flower iPad Cover
My products are essentially needed in every business persons trade. I have catered to the modern business person because most carry around a iPad/tablet, book, and pencil case in their suitcases.
Description This wonderful flower engraved iPad case is stylised to fit the perfect modern business person. This iPad cover is made from 100% brown leather with an intricate burned design.
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Growth potential
Page 4
I plan on growing 15% in the first year then another 20-30% the year after due to gaining customer respect and having those customers speak word of mouth about my products encouraging others to by my products. Growth potential
Upperclass men and woman with an important role in society.
Customer management I plan on keeping good customer relationships by providing quality products and giving them discounts on their next order.
S.W.O.T. analysis
I plan on growing 15% in the first year then another 20-30% the year after due to gaining customer respect and having those customers speak word of mouth about my products encouraging others to by my products.
Strengths: * Beautiful hand made leather products * Original pyrography etched designs * Great customer relationships
Innovation Trademarked logo Thurlow Studios. Two trademarked designs. Intellectual property strategy
I plan on using all my strengths to target wealthy consumers and give quality products.
Trademarked logo Thurlow Studios. Two trademarked designs.
Weaknesses: * leather is costly * Supplies take a while to arrive * Difficult to hand make
Research & development (R&D)/innovation activities I will personally research a develop upon my own brand to create new products. Thurlow Studios will also have close ties with Julia Burton Burns Trust to help develop new innovative designs.
Sustainability plan My business could have negative impact towards animals.
I plan on tackling my weaknesses front on and finding cheaper but quality leather to keep customer satisfaction.
Environmental/resource impacts
Opportunities: * Market to business companies * Products sell well and I can make a lot of money * Shop owners feature my products in store
My business could have negative impact towards animals.
Community impact and engagement My business could have negative impact towards customers who don't like the use of animal skin. To minimise this I could sell an exclusive fake leather line of products.
The many opportunities that come from this brand will be highly regarded and acted upon.
Risks/constraints Risk is people stop buying products because it's expensive and they wish for animal friendly products.
Threats: * Disputes against products * Competitors feature similar products * Competitors feature products cheaper than mine
Strategies I will make sure that the leather I am receiving is 100% Australian and cruelty free.
Action plan Find quality leather in Australia, April 2015 Find cruelty free leather, June 2015, Find premium Eco friendly leather, November 2015
When treats to my brand arise I will act with caution and help subside the developing risks. S.W.O.T. analysis
The Market Your customers Wealthy, middle class, modern person, minimalist, 20-50 year olds, male and female, business person with modern technology, higher education, postgraduates and graduates. Customer demographics Wealthy, middle class, modern person, minimalist, 20-50 year olds, male and female, business person with modern technology, higher education, postgraduates and graduates.
Key customers
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Strengths: * Beautiful hand made leather products * Original pyrography etched designs * Great customer relationships
Short term goals/objectives: * Create good customer feedback * Research leather wholesalers * Advertise on social media
I plan on using all my strengths to target wealthy consumers and give quality products. Weaknesses: * leather is costly * Supplies take a while to arrive * DifďŹ cult to hand make
Within the year goals/objectives: * Develop a new line of products * Hire staff to help with product disruption * Advertise in magazines and other revenues
I plan on tackling my weaknesses front on and ďŹ nding cheaper but quality leather to keep customer satisfaction.
Five year goals/objectives: * Offset products * Become successful * Have company run its self
Opportunities: * Market to business companies * Products sell well and I can make a lot of money * Shop owners feature my products in store The many opportunities that come from this brand will be highly regarded and acted upon.
Goals/objectives
Threats: * Disputes against products * Competitors feature similar products * Competitors feature products cheaper than mine
Short term goals/objectives: * Create good customer feedback * Research leather wholesalers * Advertise on social media
When treats to my brand arise I will act with caution and help subside the developing risks. Within the year goals/objectives: * Develop a new line of products * Hire staff to help with product disruption * Advertise in magazines and other revenues
The Future Vision statement My vision for this brand is to become well known for quality products and sophisticated design that will accommodate for the modern business man and woman. Vision statement
Five year goals/objectives: * Offset products * Become successful * Have company run its self
The Finances
My vision for this brand is to become well known for quality products and sophisticated design that will accommodate for the modern business man and woman.
Mission statement
Supporting documents
My mission for Thurlow Studios is to become successful enough to offset, and develop more lines of products. Mission statement My mission for Thurlow Studios is to become successful enough to offset, and develop more lines of products.
Goals/objectives
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WEEK 7 VENTURE SUMMARY
VENTURE NAME: Thurlow Studios Public Disclosure Summary: Thurlow Studios products work exclusively with leather or wood, which is not manufactured, but handmade to accommodate the modern business person. Each pattern derives from nature to ensure the customer has a unique experience, which, and a whole, signifies the modern feeling for the modern person. VENTURE OVERVIEW: The reason I have created the brand Thurlow Studios was because of my own personal interest in leather and the use of pyrography, which is the act of burning designs with a heating tool. I bring a personal touch to my handmade products, which will show through in my designs. The products I am selling are unique and one of a kind, and through market research on leather products, none are close or alike to my own designs. The products I offer are handmade using Australian leather, with an intricate pyrography design. I have split my products into two categories, design one called Engraved Fern, and design two called Engraved Flower. The
inspiration for both designs has been derived from nature itself to give the consumer a professional but natural feel and look. Some of the problems I may have with my product are that the leather can cost a lot of money, to tackle this I will always be on the lookout for new leather wholesalers and bargain with them for a cheaper price with the agreement of larger orders. Another problem than can occur is that my supplies can take a while to arrive depending on where I get my leather from, this is why I choose to have my leather supplies from Queensland or New South Wales to minimise the time of shipping. The last problem that will happen is that leather can be very difficult to hand make and be very time consuming, this is why the cost of my products are pricey. Once the business picks up I can hire people to help with the workload, which will lessen the production by half. With these problems sorted or during the process of being sorted, I can expect opportunities like marketing to business companies to allow my products to be featured in store, which will result in more profit for my business.
TARGET AUDIENCE/MARKET: My products and services fit in the highend market due to the quality leather provided by my Australian wholesaler. Compared to my competitors I bring great customer service that will keep them coming back. To keep good customer relationships I will provide quality products and discounts towards their next order. My products are essentially needed in every business persons trade. I have catered to the modern business person because research has found that most of the wealthy carry around a tablet, book, and pencil case in their suitcases. Specific key words to describe my clients are wealthy, middle class, modern people, minimalist, 20-50 year olds, male and female, business person with modern technology, higher education, postgraduates and graduates. The aim is to target the wealthiest 20% of Australians that have a net worth of A$2.2 million per household which are the upper class men and woman with important roles in society. These people will buy my products because I am providing them with quality leather products that a suit for the modern business man and woman. I know this is the right choice because research has concluded that all of the wealthy have the products I have to offer.
RESOURCES: At this point of time I am the only one working for this company, which will put strain on my financials. I am a university student with a part time job that supports my rent and not a lot more extra, which will put myself in financial debt if I am not careful enough. Currently I have all the resources to sustain my company for two months, this number will be larger once my company takes off and gets revenue. Due to the financial costing’s of the resources I will have to keep up with the demand of the public. I will do this by saving a portion of the products profit and placing that in a fund to get more resources. DEVELOPMENT: There are a few short term and long term steps needed to develop my idea into the brand that It should be. The short term steps include continuing to give good customer service and feedback. I would also like to develop upon my current wholesalers and bargain for better deals, so my products can become cheaper to buy. The last step would be to continue to gain revenue from social media and become really invested into my brands product placement. I also wish to outline steps that I have to complete within the
year. The first step is to develop a new line of products, because I need to gain more customers through their interest in different styles. The more styles and products I have the more I can target a number of consumers likes. The second step would be to hire staff to help with product distribution and to minimise the production time by half. The last step is to place multiple magazine advertisements, posters, billboard ads, and advertisement across multiple technology platforms. The very last step would be to become successful, offset my products, and basically have the company run itself so that I can collect all the profits. All these steps can guarantee that my company will develop and continue to grow over time.
WEEK 8 INTEGRATED MEDIA MARKETING STRATEGY
Social Media Planning Template Content
TACTICS & STRATEGY
What will you publish? Marketing
COMPANY: Thurlow Studios
Buyer Persona 1: Mondern Business Person
Buyer Persona 2: University Students
For buyer persona one I will publish mainly on facebook and intstagram, but also on Google+. People will be updated on business information and latest specials. Facebook, Instagram, and Google+.
I will construct a moodboad of product shots with pinterest. Same marketing for persona one for facebook and intragram. Facebook, Instagram, Pinterest.
I will be monitoring personally who is using facebook.
I will be monitoring personally who is using facebook.
Union Metrics & Facebook Analytics.
Union Metrics & Facebook Analytics.
What social media will you use? Who Who will monitor?
WATCHING
How Which tools will you use?
Who will respond?
Because This is a small business I will be taking care of Because This is a small business I will be taking care of negative comments personally, until my company becomes negative comments personally, until my company becomes large enough to hire staff. large enough to hire staff.
Crisis
Tayla Thurlow - CEO
Tayla Thurlow - CEO
CEO and when applicable, assisting staff members
CEO and when applicable, assisting staff members
Negative Comments
EMERGENCY
Who will respond?
EMPLOYEES
TECHNOLOGY Which URLs have you secured?
Who Who is authorised? Blog
www.thurlowstudios.com/Blog
Intagram Twitter
www.intagram.com/thurlowstudios
www.facebook.com/thurlowstudios
Pinterest YouTube
www.pinterest.com/thurlowstudios
www.linkedin.com/thurlowstudios
Google+
www.plus.google.com/thurlowstudios
SUCCESS What are your goals & how do you define success?
Free Download at http://www.bluewiremedia.com.au/social-media-planning-template Bluewire Media www.bluewiremedia.com.au/ 1300 258 394 (BLUEWIRE) @Bluewire_Media
ďƒ“ 2014 by Bluewire Media v2.6 Copyright holder is licensing this under the Creative Commons License, Attribution 3.0 Please feel free to post this on your blog or email, tweet & share it with whomever.
Thurlow Studios June
WEEK 9 PRESS RELEASE
FOR IMMEDIATE RELEASE: 4/5/15 Tayla Thurlow Thurlow Studios 55 747 118 contact@thurlowstudios.com.au
Thurlow Studios Press release Helping burn victims Gold Coast, Queensland: Thurlow Studios is proud to announce the arranged agreement to help Julia Burton Burns Trust, which is an Australian leading non-profit organisation, dedicated to burn injury. Together we are committed to influencing social change to reduce the incidence and impact of burn injury. Burn injury is one of the top three causes of accidental death in children under five years of age and one of the three most common injuries suffered by an Australian each year. “The families and carers of children who suffer severe burns can experience severe psychological trauma that can have lasting effects” (ABC, 2014). With our help we can give burn victims the support they need in their hardship. Thurlow Studios will be promoting a new line called ‘Tingle’ that sells a tin and leather medical box that comes with various first aid supplies, shirts, pencil case, and stickers. We will also be integrating social media and using web banners to promote the new line of products. For each product, 30% of profits will go towards the Julia Burton Burns Trust to help reduce the impact of burn injury. Our main goal here is to give charity to those suffering physically and mentally due to burn injury. This ties in closely with our own brand because our products are handmade pyrography goods. Pyrography is ‘the process of burning designs on wood, leather, etc., with a heated tool’ (Dictionary.com, 2015). We design beautiful etchings on our design just like burn victims have unique beautiful marks on their body. Here’s a list of things we wish to accomplish out of this collaboration: • • • •
Help burn victims accept their injury’s Provide mental and physical therapy to the victim and family Support those in hardship Give those affected a ‘Tingle’ First Aid Box.
About Thurlow Studios: Thurlow Studios products work exclusively with leather or wood, which is not manufactured, but handmade to accommodate the modern business person. Each pattern derives from nature to ensure the customer has a unique experience, which, and a whole, signifies the modern feeling for the modern person. ### Sources: ABC, 2014, obtained from, http://www.abc.net.au/news/2014-05-23/burns-vicitims27families-struggle/5472176 Dictionary.com, 2015, obtained from, http://dictionary.reference.com/browse/pyrography
WEEK 10 MARKET RESEARCH AND TESTING