Business Plan Evaluation and Analysis: MKV Design, London, UK

This report provides a comprehensive analysis of the business plan for MKV Design, a London-based interior design company. It examines the company's overview, objectives, vision, mission, key partners, and activities. The report delves into MKV Design's value propositions, customer relationships, segments, and resources, alongside its channels, cost structure, and revenue streams. Key aspects discussed include the company's marketing strategies, competitive analysis, and customer analysis, highlighting the importance of online platforms, e-commerce, and customer service. The report also explores MKV Design's success strategies, including partnerships, cost-effective services, and customer-centric approaches. The document concludes with a detailed evaluation of the company's marketing plan and its focus on digital marketing, local area marketing, and customer engagement.

Running head: BUSINESS PLAN FOR MKV DESIGN
BUSINESS PLAN FOR MKV DESIGN
Name of the Student:
Name of the University
Author Note:

1BUSINESS PLAN FOR MKV DESIGN
Executive summary
The report aims to discuss the business plan followed by a renowned interior designing
company of the United Kingdom namely MKV Design. The company has a huge fan
following in the popular social media and television. It has customers in various countries of
the world therefore the designers have expertise in designing interiors to meet various
customers with different socio-cultural background. The report discusses the key activities of
the company in detail including their stakeholders. The purpose of this business plan is to
help the company run with more cohesive vision and earn more reputation as well as revenue.

2BUSINESS PLAN FOR MKV DESIGN
Table of Contents
Introduction:...............................................................................................................................3
Company overview:...............................................................................................................3
Objectives:..............................................................................................................................3
Vision and mission:................................................................................................................4
Key Partners:..........................................................................................................................5
Key activities:.........................................................................................................................6
Value propositions:..............................................................................................................11
Customer Relationships:......................................................................................................11
Customer Segments:.............................................................................................................12
Key Resources:.....................................................................................................................12
Channels:..............................................................................................................................13
Cost Structure.......................................................................................................................13
Revenue Streams:.................................................................................................................13
Conclusion:..............................................................................................................................14
References:...............................................................................................................................15

3BUSINESS PLAN FOR MKV DESIGN
Introduction:
The essay discusses the various aspects of the business plan followed by a London
based interior design company namely MKV Design. It creates ambience that deliver at
different levels such as practical, aesthetic, experiential even commercial. They blend
creativity with intelligence and create exponential designs which bring their vision into life.
They have active partners who help them to create market in various place of the United
Kingdom (Idec.org, 2018). They have direct connection with the interior companies, web
page designers and sponsors to help them to execute their activities. Various advertising
method are applied by the company in order to gain more reach and revenue. The report
discusses the company’s activity, resources, channels, review and costs to analyse the
business plan.
Company overview:
MKV design is a privately owned company and planning to register in London, UK. It
is owned by Maria Katsarou Vafiadis, who has been a professional interior planner in a
famous firm with huge experience (Mkvdesign.com, 2018).
MKV design is a business idea that takes inspiration from various health care
companies, legal firms, financial services, image consultancies, insurance and loan product
services. It also gets inspiration from their methods to significantly improve the visibility as
well as escalation the sales volume through delivering a cost-effective yet convenient
entrance to their services by the medium like the smart phone or internet technologies (Kang,
Choo and Watters 2015).

4BUSINESS PLAN FOR MKV DESIGN
Objectives:
The company offers interior designing on web platforms to provide the customers a
complete control over their desire reflected on their planning, spending and executing
their interior planning requirement.
It offers all the vendor related and interior designing service on the common web
platform very easily.
Provide free of cost assistance to the registered users regarding their interior designing
consultation so that they can avail the paid service after taking full advantage of free
sampling
Enabling the 1BHK,2BHK, 3BHK apartments owners to take complete advantage of
the professional help for the panel of leading planners in designing their interiors in
most cost effective as well as aesthetically pleasing manner.
Helping the customers living in the remote places to save money along with time
through providing consultation services
Offering end to end services starting from purchase to the final installation from the
listed and certified contractors and vendors.
Helping contractors, vendors, painters, electricians, plumbers and carpenters to get
online visibility through the company’s web platform (Mkvdesign.com, 2018).
Making ecommerce available for those to want to sell their furnishes, artefacts,
electrical fittings, glasses, furniture, sanitary fittings, plywood laminates or veneers,
paints as well as flooring or wall tiles.
Providing the registered users reliable payment gateway so that they can make a
convenient purchase.

5BUSINESS PLAN FOR MKV DESIGN
Vision and mission:
To become top one stop company where people from all over the globe can contact
for their interior planning requirements starting from furniture and ceiling designs, electrical
and plumbing layout planning, selecting paint, purchasing materials and hiring contractor.
The mission of the organisation are-
 Enabling the registered customers design their own interiors via MKV design free as
well as paid consultation, applying business to consumer model from eliminating the
middle men and conducting business in an efficient, transparent and cost effective
manner (Afacan 2016).
 Building an effective business to business platform to the local contractors,
electricians, plumbers and material vendors so that they can sell their products
directly from their portal. The company aims to provide all the marketing support to
the stakeholders so that they can expand reach as well as revenue via the internet
medium.
Key Partners:
MKV Designs have a huge partner who help it to grow the business these are the real
estate agents, architects, painters, builders, electricians and computer service executives for
installing hardware in the designed properties. As MKV Design is an online aggregator for on
demand interior services that has two sets of audience:
Service providers: architects, painters, electricians, furniture companies and material
suppliers are the company’s service providers. They list their services with the company.
Service seekers: apartment owners, companies which own and hire guesthouses for
executives, serviced apartments, real-estate agents along with builders, building contractors

6BUSINESS PLAN FOR MKV DESIGN
and finally the well-informed individuals are our service seekers. They make their purchases
online (Cho and Cho 2014).
Beside these stakeholders the company has connection with a large number of interior
design schools from where the designers are placed in the company in order to designed
innovative interiors that achieve a healthier as well as more aesthetically pleasing
environment for the valued customers.
The company has maintained good terms with all the partners like web page
managers, franchise managers, sponsors and deliverers. The company’s classified or online
marketplace offers a perfect platform to the London based local vendors, contractors and
other suppliers as well as deliverers to give them opportunities for building a strong online
manifestation (Kim and Lee 2015). By partnering with MKV Design, they can be sure of
having
 Increased visibility
 More reach
 Full-suit marketing
 advertising support
Key activities:
Through online portal the customers and stake holders can avail following services.
Furniture layout: the customers can upload a floor plan for their 1BHK, 2BHK or 3BHK
apartments and get brilliant furniture ideas from the expert interior planners free of change.
Paid services: after paying specified charge the customers can get exceptionally detailed
sketching pertaining to:
o Ceiling designs

7BUSINESS PLAN FOR MKV DESIGN
o Electrical layout
o Furniture design
o 3d views
o Estimation
Materials library: the clients can book as well as order any or all the materials that they may
want from the company’s online portal at any time through the completely-encrypted e-
commerce platform (Dell'Era, Landoni and Verganti 2015).
List of suppliers and contractors: the interment portal of the company has lists of certified,
skilled and qualified suppliers so that the consumers can ask for their help and rate them
according to experience.
E-magazine: the registered clients can subscribe the monthly e-magazine of MKV design in
order to stay conversant to the latest trends in interior planning (Money et al. 2015). Besides,
the clients will find DIY tips from the leading industry specialists to be able to design their
space residential, commercial as well as industrial in an attractive, efficient as well as an
affordable way.
Helpline service: the company designers stay available for answering all the queries along
with doubts on the company’s 24/7 platform.
Chief competitors:
 foyr.com
 roomstory.com
 helengreendesign.com
 livingspaceuk.com
 interiorproduct.com

8BUSINESS PLAN FOR MKV DESIGN
 pepperfry.com
 askmeoninteriors.com
success strategies: the company aims in creating a strong position in the UK market by
following these strategies:
 starting partnership with a number of certified, skilled and efficient contractors
including local vendors for increasing the convenience of all types of customers
 making professionally designed interior plans available to the customers at a cost
effective prices so that anybody can avail the services (Galford, Hawkins and
Hertweck 2015).
 Building excellent and loyal relationship with the vendors, contractors along with sub-
contractors so that they can have more reach and revenue as well as expend footprint.
 The company is a third party aggregator of the home décor services therefore it makes
sure that the products and services are delivers to the customers on time, exact place
and within their budget (Moultrie and Livesey 2014).
 Clearing the interrogations as well as solving the vendor customer issues immediately
through the customer care representatives who remain available a various time zones.
 Delivering high quality interior planning consultancy for free, under DIY models to
the clients who cannot afford the professional help of the top designers (Gruber et al.
2015).
Marketing philosophy:
For increasing visibility of the online interior planning portal within the company’s
customer base, MKV Design intend to participate in different kinds of events as well as
exhibitions that are hosted in the local communities as well as international groups (Sailer,
Pomeroy and Haslem 2015). In this process the company can develop contacts with both the

9BUSINESS PLAN FOR MKV DESIGN
local as well as global businesses which serve the same target consumer base as well as start
partnership with them so that they can help in improving the company’s reach along with the
vendor base.
customer analysis:
MKV Design’s target customer base include the house owners, builders, developers,
restaurant, luxury hotels, resorts owners, industrialists and individuals having in one, two or
three bed room apartments who like to plan interior design in their offices, restaurants, outlets
and apartments. The company also takes care to serve the building contractors, serviced
apartment holders, real estate agents and big restaurant owners who want to design their
properties they deal with without hiring the expensive services of the professional interior
planners (Ghezzi et al. 2015). Property owners who want to go an extra mile by offering pre-
designed places to their clienteles, tech savvy construction contractors, realtors making extra
money by offering interior designed spaces and companies designing for offices or outlets in
a cost effective way are the company’s chief customers.
MKV Design aims to target the young generation of the UK who utilise their
smartphones and avail various online services in all possible way to satisfy their requirements
will find this interior designing company very innovative and useful.
Marketing plan:
The initial step in the marketing plan of MKV Design is to increase awareness as well
as visibility of the interior designing market. The company conducted a thorough research
about the demand of the clients and the latest trends. In order to create inspiring experiences
the designers of the company go beyond the trends (Salim 2017). All the designs are trained
in such a way that they produce woks underpinned with rich depth of knowledge according to
the cultural sensibility and set high standard of creativity. By gathering details of all the

10BUSINESS PLAN FOR MKV DESIGN
stakeholders and supply chain the company has built an innovative platform. The company
has direct connection with the suppliers and the top officials have direct knowledge of the
quality of the materials that are used by the company’s designers (Smith 2015).
Promotion:
The company has identified some advertising strategies through:
Newsletters and magazines: MKV Design makes use of newsletters as this help them to reach
their target patrons directly. They intend placing their advertisements in the established
newspapers of the UK that have huge popularities on the market. It also uses e-magazines
along with trade magazines for reaching their customers who are interested in the innovative
and unmatched designing of MKV Design. It also purchases their own database list from the
trusted list vendors (Hongisto et al. 2016).
Online marketing: Online marketing has been one of the most necessary way to reach the
market as it can welcome the users directly to the company’s online interior planning portal.
MKV Designs use diverse strategies for example social media advertising, content marketing,
blogging, email marketing, pay-per click advertising as well as affiliate marketing in order to
improve visibility including generate traffic to the online portal (Song 2015).
Local area marketing: Banners along with Hoardings have quite effective impact when the
company aims to initiate the local area marketing. These tools aim to increase the company’s
visibility surely and create huge awareness about the company among target audience.
Events: the company attends and play important role in various events arranged by different
organizations here it describes its range of services for example concept creation, schematic
design, artwork packages and artwork packages. MKV Design itself arrange numerous events
where it promotes and exhibits their designed products.

11BUSINESS PLAN FOR MKV DESIGN
MKV Design advertised through sponsored other companies. It is basically due to the
inconsistency between the higher expenses of the event production. In the recent years, the
business of event sponsorship is replaced by sponsoring various charities and other
companies. The company basically sponsors the organizations that have direct connection
with them like fabric, glass, sanitary materials and other material supplier companies. MKV
Design renew catalogues both online and offline so that they can match the growing
competition in this field by coping up with the changing trends.
Value propositions:
The company has a large number of excellent designers heading from different part of
the world. They have expertise in rendering guidance for designing interiors that showcase
multicultural values. They inspect the places prior to design and transform the entire place to
a customised place intermingling materials, texture and brilliant craftsmanship (Wang et al.
2014)
The company also has different outlets that sell vases, cushions, mirrors,
arrangements, storage boxes, centre pieces, posters, wall hangings, paintings and furniture at
a very economic price. These outlets attract the customers more to their services thus provide
competitive advantage. These outlets have catalogues with all their product as well as
services so that the customers visiting their stores can buy directly or book the products
which the company send directly to their places (Wei et al. 2015). The scheme of the
company is that if the customers buy their products they will be provided extra benefits in
case the customers hire the designers.
The company provides help in space planning right from the selection of colours,
style of windows, furniture, fixtures artworks even the style of lighting. The catalogues bear
everything that the customer wants which include different interior decorating styles such as