Pricing Structure for Artists on Artnbuff Galleria
Project scope
Categories
Market research Competitive analysis Product or service launchSkills
market pricing financial forecasting researchThe main goal of the project is to recommend a pricing structure for the various levels of membership of Artists on Artnbuff Galleria. This should take into consideration the cost, market pricing, value to the artist, artist's affordability, and the company's goal of connecting Artists with Art Consumers through technology-based platforms.
This will involve several different steps for the students, including:
- Analyzing and identifying direct and indirect costs
- Analyzing the current market pricing for similar platforms and services.
- Researching the cost of membership for artists on other platforms.
- Surveying potential users to understand their affordability and willingness to pay for different membership levels.
- Developing a pricing structure that aligns with the company's mission and goals.
- Creating a financial projection for the potential revenue from the new pricing structure.
By the end of the project, students should complete the following list of activities:
- Identification of direct and indirect costs
- Analysis of market pricing for similar platforms and services.
- Research report on the cost of membership for artists on other platforms.
- Survey results and analysis of potential users' affordability and willingness to pay.
- The proposed pricing structure for the various levels of membership.
- Financial projection for the potential revenue from the new pricing structure.
Final deliverables:
A final report including the analysis, research, proposed pricing structure, and financial projection.
A presentation explaining the research findings and the recommended pricing structure.
Students will connect directly with us for mentorship throughout the project. We will be able to provide answers to questions such as:
- Our goals, target market, products and services
- Input on choices, problems or anything else the students might encounter.
About the company
InnC stands for Innovation Connect. InnC offers Technology-based platforms as Services that aim to connect producers and providers with consumers.