Essay About Strengths Location And Largest Selection Of Their Own Work

Business 1220
Pal must be able to support his family
Personal desire to remain in the industry (either through the gallery or photography)
Political
New regulations (Western Hemisphere Travel Initiative ) makes it difficult to ship/trade art
Economy
industry has been stable over time
Recession has shrunk consumer spending, but interest rates are at an all time low (2.225% prime rate)
Weaker US Dollar means fewer US visitors spending money
Social
Growing tourism and art appreciation in Bay field area
Growing use of the internet for buying artwork
Technological
Internet sales becoming a factor
Implications for Decision?
Low interest rate presents good options for borrowing
Potential for loss of sales and increased competition due to internet is a risk
Shipping costs will likely increase across the industry
MAG Competitive Analysis
Strengths Variety of art pieces
Weaknesses No first mover advantage in Bayfield
Artists
Strengths Most knowledgable about heir network, largest selection of their own work, better pricing than retailers
Weaknesses Varsity is limited to their own work, selling and marketing are not their strengths location is not typically in tourist areas
Other galleries carrying out artists
Strengths: Some have better relationships with artist
Weaknesses: website showcase is not being done for artist, since there is 80km exclusivity are not likely is a tourist location like bayfield
Online Galleries
Strengths Variety of art pieces available
Weaknesses Lacks the shopping experience no story behind the artist or help shopping, fraud etc
Indirect Competition: Walmart,Pier- ONE
Strengths : varsity of low priced decor and