Entrepreneurship Development Report: Photo Travel Marketing Strategy

This report offers a comprehensive analysis of Photo Travel, a company providing professional photography services. It examines the company's entrepreneurial development, including its value proposition canvas, lean business canvas, and customer engagement strategies. The report details the roles and responsibilities of a Chief Marketing Officer (CMO) in developing marketing plans and strategies to achieve revenue goals. It also includes a financial plan and discusses the company's financing strategy, highlighting key partners and activities. Furthermore, the report covers customer relationship management, distribution channels, and customer segments. The report concludes with a discussion on why investors should invest in Photo Travel, summarizing the key aspects of its business model and growth potential. The report is developed by a student and is available on Desklib for study purposes.

Entrepreneurship
Development

Table of Contents
INTRODUCTION...........................................................................................................................3
VALUE PROPOSITION CANVAS...............................................................................................4
Customer’s Value Proposition Canvas...................................................................................4
LEAN BUSINESS CANVAS.........................................................................................................5
A Business Canvas Model......................................................................................................5
THE C LEVEL SPECIALISTS CONTRIBUTION........................................................................7
An Engagement Plan for Customer and Marketing Strategy.................................................7
FINANCING AND FINANCIAL PLAN........................................................................................8
Plan for Financing..................................................................................................................8
SUMMARY.....................................................................................................................................9
Why should investor invest in venture?.................................................................................9
REFERENCES..............................................................................................................................10
APPENDIX....................................................................................................................................10

INTRODUCTION
A process with the help of which a person enhances their skills and knowledge relating to
innovating a new business idea through a number of training programs as well as class rooms
learning is said to be entrepreneurship development. It is important to establish an
entrepreneurial unit so that the number of entrepreneurial units throughout the world can be
increased. It is developed to give unique and innovative products to customers in order attract
and retain them (Jones and Sakong, 2020). It is important to develop entrepreneurship in a
country as it helps in economic development and also helps in decreasing unemployment rate in
an economy. This following report is based upon Photo Travel which is dealing in providing
comprehensive as well as professional photography services with the help of their latest
photography equipment. There are a number of other services they provide which include
advertisement, brand photography, digital marketing, editing for bloggers and so on. They are
helping clients through creating customized packages for their clients according to clients need
and requirements.
In the following project I will be acting as the CMO (Chief Marketing Officer) of this
company. It is my duty as well as responsibility to look after marketing services provided by this
company. A Chief Marketing Officer is the head of marketing department in an organisation. All
the tasks and activities related to marketing are performed under his supervision. There are a
number of roles and responsibilities of a CMO in an organisation which includes planning,
developing, implementing as well as monitoring and controlling the marketing strategy for an
organisation. There are also some additional jobs which come around along with the post of a
CMO which includes pricing, product planning, market research, advertising, public relations,
promotion as well as marketing communication. They help their subordinates who work under
them by guiding and motivating them continuously so that organisational goals can be achieved
effectively.
Photo Travel have successfully developed their objectives and goal which they aim at
achieving and in order to achieve these they require to formulate an effective strategy and work
accordingly. Company have aimed to achieve a revenue from sales of 200000 units at the
beginning of the year to which they think will increase up to 250000 (Mitra, 2019). The total cost
was calculated to approximately be around 100000. This report is developed in order to make a
business plan for the company. Following report will be discussing value proposition canvas,

model for business canvas as well as financial plan for the company. It also includes a CFO who
is developing financial plan for the business.
VALUE PROPOSITION CANVAS
Customer’s Value Proposition Canvas
A process of marketing segment which focuses on a particular targeted customer group is
called as customer value proposition canvas. This is a factor which helps in organisation in
ensuring that they provide their customers with quality products and services so that they can
retain their potential customers and octane maximum customer satisfaction by meeting all their
requirements and needs. There are a number of benefits of this canvas to an organisation such as
it helps employees in developing and designing the product as per the specifications provided by
customers. There are two sides to a customer value proposition and each of this site is divided
into three aspects.
In the right side of customer value proposition canvas information regarding customer
profile is divided into three factors which are customer job, gains as well as pain.
Gain: This factor is related to effectiveness of the services which photo travel provide
(Etzkowitz and Zhou, 2017). These services major we include nature, production within given
time period, professional services, comfort and luxury services auction.
Pains: This aspect includes the experience of a customer while they are availing the services. It
includes time management by the company, photo edits provided, traffic as well as organizing
tours for customers.
Jobs: It includes all the jobs which are conducted by the organisation as well as its client while
they receive the service from 4 to travel. These services include a photographer with a mode of
conveyance, sightseeing, high-quality photographs, organisation of tour and so on. These are
major services which are experienced by the audience all the customers while they avail the
services and products of photo travel.
When considering the left side element of customer value proposition canvas, it is also
divided into three aspects. These three aspects include products and services, gain creators and
pain relievers. All these aspects help the business to conduct their work effectively in a
successful manner. The three major aspects of left side of value proposition canvas for customer
is mentioned below:

Products and services: Products and services provided by the company include professional
photography shoot and various options for tour in London United Kingdom. In addition to all
this they also provide luxury welcome services for their customers.
Gain creators: Gain creators for company include the luxury budget as they provide to their
customers, in order to develop the poor packages for visiting all the famous landmarks present in
London, United Kingdom (Haghighi, Mahmoudi and Bijani, 2018). There are different packages
offered by them which are bronze, silver and gold packages. Along with this they also customize
packages for their customers specific needs.
Pain relievers: Pain relievers refers to the services which are offered by a company which can be
booked as a one service. Time saving and comfortable services provided by company along with
professionals who are always there to click good pictures which can be kept by customers as a
memory of their mesmerising trip to London. This is a great way to attract more customers
towards the new step taken by the company. It also helps company in retaining its customers and
gaining customer loyalty for a lifetime.
LEAN BUSINESS CANVAS
A Business Canvas Model
The tools and techniques used by an organisation for differentiated elements in a business unit is
called as business canvas model. This business model is developed in order to create awareness
in internal as well as external stakeholders of the companies about the business idea which they
have developed and also make them understand all the key areas of this business idea. And
affective business canvas model helps an organisation to attract more investors towards them so
that they can invest in the business and the business can affectively reach its financial
requirements (Sauka and Chepurenko, 2017). Necessary to mention all the information in detail
in this model so that more funds can be attracted towards the organisation. In context of this
company the creative idea of photography adopted by companies will help them in attracting
more customers and generating a potential market place for them in the industry. Along with this
we will also be attracting investors in huge numbers. They can easily deliver all of the required
information to their stakeholders with the help of this business model. Below mentioned is a
Business mode canvas for Photo Travel:

Key partners: this refers to all those people who take part in decision-making process of
companies and also provide funds in order to conduct business activities in an effective manner.
When taking photo travel into consideration Barclays bank is their major partner who affectively
provide funds to the company. They also have Nikon and canon cameras as their sponsors who
sponsor all the cameras and related equipment used by them. They have MTC chauffeuring Ltd
as their partner who provide them vehicle or arrange vehicles for them.
Key activities: These are all the activities which are conducted by company in order to boost up
their business so that they can increase their profitability (Fritsch and Wyrwich, 2017). When
taking photo travel into context, the major activities which company offer is providing photo suit
along with chauffeur services in all the famous landmarks across London, United Kingdom.
Key resources: these are all the resources and materials through the help of which a company
can conduct all the practices in an effective manner so that they can reach their desired goals and
objectives in the stipulated time period. When considering photo travel the key resources are
suppliers, they get all their camera for photo shoots, logistics, management team, finance team,
development team and their branding team. Through all these respective resources company is
conducting all the business activities in an efficient manner.
Value proposition: It is the major aspect of model which is considered when developing a
decision related to functions or operations of a business take place. The major value proposition
for photo travel are luxury vehicles, public transports, professional photographer, comfortable
services as well as customised packages.
Customer relationship: These are all the activities which are conducted by an organisation in
order to attract their customer and develop a long lasting relationship with the customers. Photo
travel provide phone assistance and a number of different social media channel to make sure that
they maintain good customer relationships.
Distribution channels: Distribution channels are various channels used by a company for
distribution of the products and services provided by them so that they reach to the customer in
the given quality and on the expected time (Pandey and Ansari, 2016). Photo travel uses
channels like travel bloggers, mobile marketing, word of mouth, influencers and many more in
order to distribute their services.
Customer segment: customer segment basically refers to the target group of customers on which
an organisation has to focus and develop their products and services according to them. Photo

travel mainly focuses on bloggers, influencers, fashion and travel editors, wedding arrangements,
tourist and digital creators who are their targeted customers.
Cost structure: The cost incurred by a business while conducting all the operation and function
to reach its goals and objectives is determined at the cost of structure. Photo travel I am an
estimated cost of £100,000 which is divided into fixed as well as variable cost. This helps the
company to generate their financial budget as well.
Revenue stream: Revenue stream includes all the activities conducted by organisation so that
they can generate higher revenue in the market. When taking photos travel into consideration the
major revenue streams for company our website, selling of stock image, advertisement and their
photo presets. Along with this they also had additional services like printed photos, albums as
well as material according to different customers.
THE C LEVEL SPECIALISTS CONTRIBUTION
An Engagement Plan for Customer and Marketing Strategy
A procedure in which a company attracts and encourages all their potential customers in
order to retain them for a longer period of time is known as customer engagement. It also helps
in organisation in enhancing their brand image in the market place. With the development of a
customer engagement plan company can grow its business along with facing all the competitive
threats in market. Customer engagement program also provides a company with competitive
advantage in the market. In order to conduct an effective customer engagement for them it is
needed by the organisation to conduct an effective and attractive advertisement and promotion of
the product so that a number of customers can be attracted to words the good and services
provided by the company (Devi, 2016). Chief marketing officer of a company plays an important
role while developing a customer engagement plan. It is the duty of chief marketing officer in a
company to look after all the marketing activities in an organisation. Religious functions of chief
marketing officer include advertisement, raising brand awareness, choosing between various
promotion methods, distribution strategies and many more. A CMO of company is it possible for
smooth flow of business operations in a completely through enhancing the brand value of
organisation in the marketplace. The chief executive officer is the one to which the chief
marketing officer of company reports. CEO is responsible for handling all the queries of CMO of
an organisation.

When taking photo travel into context, they offer why are you need a range of options for
photography to their potential customers in order to make sure that they are encouraged to buy
the services provided by company. It is the duty of chief marketing officer of photo travel to
make sure that there are a number of activities and duties required to be fulfilled by them so that
an effective marketing plan could be formulated. This effective marketing plan will help them to
attract a number of customers towards them increasing their revenues as well as profits. It is
important that what are the ideas that chief marketing officer is going to market. The chief
marketing officer of photo travel needs to market that they offer a wide range of photo shoots
dependent on budget of their customers (Ngoasong and Kimbu, 2016). There are two benefits
from this marketing plan first is that it will attract all the different income class group people and
second is that the services of company can be promoted effectively. Company can also use
various social media networks which will enable companies to reach a large customer base.
Some of such social media networks are Twitter, Facebook, Instagram, LinkedIn and many
more. This will help companies to cover domestic, local, regional as well as international
customers. This will also help to come in contact with customers and build customer
relationships through resolving any of the queries customers have before availing the services
provided by company. There is also a requirement of a budget which CMO of the company
needs to plan for marketing promotion activities of the company. It is necessary to make the
budget so that it is clear where to spend and how much to spend in order to achieve the desired
goals in the limited time period. Other aspects including cost of camera, suppliers, employees,
investors and so on.
FINANCING AND FINANCIAL PLAN
Plan for Financing
Financial plan is prepared by the individual as well as entity in terms to maintain long
term monetary planning in order to improve the existing situation and keep certain money as
reserve stock to cope up with unexpected situation. An organisation comprises of wide role as
well as activity due to which financial Manager independently manage all the transaction of
company and works for the long-term growth perspective (Coulibaly, Erbao and Mekongcho,
2018). In context to Photo Travel company which works in diverse geographic area to deliver
their professional photography services. So in order to carry out their diverse services like

prepare advertisement campaign, work as blogger editor and offer unique photography services
they require latest technology. In this case the role of financial planner is to effectively design
the budget of the company for a certain period of time. This helps the internal stakeholder and
manager to remain well-versed about the financial availability and accordingly plan out their
activities full stop chances of unnecessary expenditure and cash outflow gets minimised in order
to enhance the profitability margin (Caneque and Hart, 2017). This helps in consistently
maintaining the revenue of the company and helps in building the unique image in order to
attract diverse stakeholders. Therefore, with the help of detail planning the company is able to
maintain significant amount of revenue and effective maintain the balance the inflow and
outcome of funds.
SUMMARY
Why should investor invest in venture?
Photo Travel Company basically uses the innovative and latest technology like digital
camera so that they derive out best shoot and pictures. Professional photo shoot is done for
blogger, traveller, magazines, signal campaigns and so on which helps the company to deal with
different stakeholders. Photographs are appealing to the eyes of the customer due to which
effective performance of the company can attract white percentage of the investors which will
probably enhances the market share of entity. Expertise in different areas can help venture to
gain core advantage, so focus needs to be given to develop unique methods and actions in order
to sustain valuable reputation amongst investors. Customised services are delivered by Photo
Travel company to diverse clients on the basis of their requirement and budget which adds value
in carrying out the operations of entity. Training session is offered to the employees so that they
constantly enrich their capabilities and update knowledge with the aim to carry out operate in an
appropriate manner. Even the representative of entity shares their option with customers and
carries out deep discussion in order to mitigate the chances of error or minor faults. In addition to
that efforts are taken to reduce the chances of dissonance so that investor remains connected with
the operations of company. Adequate preparation of budget maintains systematic flow of
activities and helps to deliver various services to multiple investors within stipulated time zone.
Therefore, specialised in terms of delivering the services is the foremost way to attract wide
participate and retain them for long term leading to long term sustainable development.

REFERENCES
Jones, L.P. and Sakong, I., 2020. Government, business, and entrepreneurship in economic
development: The Korean case. Brill.
Mitra, J., 2019. Entrepreneurship, innovation and regional development: an introduction.
Routledge.
Etzkowitz, H. and Zhou, C., 2017. The triple helix: University–industry–government innovation
and entrepreneurship. Routledge.
Haghighi, N.F., Mahmoudi, M. and Bijani, M., 2018. Barriers to entrepreneurship development
in Iran’s higher education: A qualitative case study. Interchange. 49(3). pp.353-375.
Sauka, A. and Chepurenko, A. eds., 2017. Entrepreneurship in transition economies: Diversity,
trends, and perspectives. Springer.
Fritsch, M. and Wyrwich, M., 2017. The effect of entrepreneurship on economic development—
an empirical analysis using regional entrepreneurship culture. Journal of Economic
Geography. 17(1). pp.157-189.
Pandey, N. and Ansari, M.A., 2016. Role of financial institutions in the development of women
entrepreneurship. Indian Research Journal of Extension Education. 12(2). pp.279-
282.
Devi, M.K., 2016. Assessment of entrepreneurship development programme in Salem
District. International Journal of Research in Social Sciences. 6(12). pp.115-135.
Ngoasong, M.Z. and Kimbu, A.N., 2016. Informal microfinance institutions and development-
led tourism entrepreneurship. Tourism Management. 52. pp.430-439.
Coulibaly, S.K., Erbao, C. and Mekongcho, T.M., 2018. Economic globalization,
entrepreneurship, and development. Technological Forecasting and Social
Change. 127. pp.271-280.
Caneque, F.C. and Hart, S.L. eds., 2017. Base of the pyramid 3.0: sustainable development
through innovation and entrepreneurship. Routledge.

APPENDIX
Cost structure
Particulars Amount Amount
Fixed cost 32000
Rent 2000
Car insurance 10000
Camera insurance 15000
Variable cost 68000
Employees salary 3000
Photographers salary 5000
Chauffeurs 5000
Marketing expenses 15000
Bills 10000
Camera maintenance 15000
Supplies 15000
Total cost 100000
Revenue stream
Particulars Amount
Sales (120000-100000= 200000) 200000
Revenues:
Website 10000
Advertisements 15000
Selling of photo presents and stock images 10000
Additional services 15000
Total 250000
BEP= Fixed cost/contribution
Contribution per unit = Sales - variable cost
= 200000-68000

= 132000
Contribution per unit (100 units) = 132000/100
= 1320
BEP= 32000/1320
= 24.24 or 24 units
Cash flow analysis:
Particulars Amount Amount
Cash receipts: 200000
Opening balance -
Sales 200000
Total 200000
Cash payments: 100000
Rent 2000
Car insurance 10000
Camera insurance 15000
Employees salary 3000
Photographers salary 5000
Chauffeurs 5000
Marketing expenses 15000
Bills 10000
Camera maintenance 15000
Supplies 15000
Total 100000
Net balance of cash (200000-100000) 100000
Sources of funds
 Bank loan
 Using personal capital
 Usage of funds
Usage of funds
 Rent payment