Dhonuk.com case based presentation

1. Presented By:
Vikas Bharti Sharma

2. INTRODUCTION
 Art in India was a niche market in the sense that this sector
had untapped potential and unfathomed opportunities in the
market.
 Consumer behavior was an essential factor as it depended
on the following:
 Consumer’s perception of the art.
 Art can be reflection of consumer’s personality.
 Can differ according to consumer’s lifestyle.

3. BACKGROUND
 India had witnessed drastic increase in GDP in the recent
years.
 Studies indicate that expenditure on entertainment had
peaked significantly lately.
 Since, India constitutes one-fifth of the world citizen’s
younger than age 20, look & feel good factor was a
significant cause in making their purchase decisions.

4. INDIAN HNI’S
 Indian HNIs weren’t open to the idea of
sophisticated financial instruments & thus were
more conservative in their investment strategies.
 They refrained from investing in passion
investments like luxury goods (e.g., private jets,
custom yatches, high-end automobiles etc.), fine
arts, jewellery and other luxury collectibles unlike
their foreign counterparts.

5. INDIAN ART MARKET & GLOBAL ART
MARKET FACEOFF
 Most of the India growing population, consisted of
middle class households with an annual income of
INR 2,00,000 to 1,000,000.
 They couldn’t afford art & luxury goods as of now.
 The growth in India’s art market in 2010 (approx.
INR 10 billion) indicated that “affordable” art was on
the rise – expanding & benefitting this segment of
buyers.

6. INDIAN ART MARKET & GLOBAL ART
MARKET FACEOFF
 Online art auctions became popular amongst Indian
buyers.

7. MODES OF SELLING
 Art galleries
 Physical art auction
 Online art like Saffron Art
 Art websites
 Art fairs like Indian Art Summit.

8. WEBSITES SELLING ART
 Sotheby’s (1744)
 Operated in over 40 countries
 Locations: New York, London, Hong
Kong and Paris.
 Art auctions, private sales, art related
financing activities.

9. WEBSITES SELLING ART
 Christie’s (1766)
 Showcase unique & beautiful art forms.
 variety of services for art collectors.
 good FAQ section in their website.

10. WEBSITES SELLING ART
 DevianArt
 provided a connection and a
communication.
 represented a breakthrough for the
promotion and exposure of otherwise
stranded artists in all corners of the globe.
 one of the most visited websites.

11. DHONUK-INDIAN ART LEAGUE
 Online platform + Social networking + forums + art
repository + online art gallery + custom art ordering
 Interaction between artists & “artsumer” (art
consumer, connoisseurs, organization, individual).
 Gave opportunity to young & budding artists.

12. DHONUK-INDIAN ART LEAGUE
 Types of product category
 Framed contemporary artwork targeted for
gifting purposes or for decorating home
interiors
 Custom artwork or pre-made authentic art
pieces available at a premium.
 Reprints from digitally generated art
content on the social network

13. ART BUYERS
 Buyers of art broadly categorized
 wealthy and passionate art
collectors(beauty, attractive, pride and
aesthetics and enhancing status).
 purpose of decorating and thus
beautifying one’s home.
 lucrative investment.
 occasional buyers(emotionally attached
after seeing some works)
 lower budgets

14. MAJOR FORMS OF ART AVAILABLE ON
THE DHONUK PLATFORM
 Extensive questionnaire that had been used on the
website.
 Questionnaire itself was demanding on the part of the
respondents. in terms of time and effort.

15. MAJOR FORMS OF ART AVAILABLE ON
THE DHONUK PLATFORM
 This strategy was referred to as “Authors’
hypothetical view of the consumer in another
domain” when three art types were being
discussed
1. Fine art
2. Abstract art
3. Figurative art
4. Digital art

16. 1. Fine Art
 Art created on aesthetic rather than decorative
grounds.
 Fine art was bought by home decorators, art
collectors and wealthy HNIs.
 Lifestyle: Buyers of fine art were usually very
active social & performing arts, either as audience
members or as performers.

17. 2. Abstract Art
 It did not represent reality as we see it, though it
might be based on an actual individual, emotion or
object.
 Lifestyle: Buyers of abstract art were typically
contemplative persons

18. 3. Figurative Art
 Inspired by the natural or visible world and used
tangible forms and objects to convey the artist’s
message.
 The human form or figure was the most common
subject.
 Lifestyle: Buyers of figurative art typically indulged in
high levels of TV viewing, watched movies and
purchased DVDs of their favorite films.

19. 4. Digital Art
 Works that had been created on a computer in
digital form.
 Lifestyle : typically young buyer, computers and
relied heavily on social networking websites to
search for unusual imagery and digital prints to
decorate their homes.

20. COMPETITORS OF DHONUK
 Saffron Art-largest modern art auction
houses
 Indian Art Collectors
 Artjini
Artflute
IndianArtIdeas

21. BUYERS OF COMPETITOR
 Brand A
 Extremely affluent.
 They sold/buy through auctions.
 Bought luxury product
 Brand B
 price-conscious.
 home decoration.
 online buyers.
 Rare buyers

22. KEY ISSUES
The key issues that dhonuk.com face right now following its
in-depth survey:
 Formulating a clear positioning strategy in market like
India where art was not a commonplace consumer item.
 Dhonuk.com must decide what their focal target market
will be.
 Does Dhonuk.com want to focus on the interactive
“social media” setting of their site or be a place for
consumers to research and buy art?

23. KEY RECOMMENDATIONS
 Position themselves as an interactive website
meant for the occasional buyers who were from the
emerging middle class.
 Focus on highlighting the combination of “abstract”
and “figurative” art as their main product types.
 Present Dhonuk.com as a website that offers their
customers value by being interactive, informative
and convenient.

24. CONCLUSION
 Overall, in order to set itself apart from its competitors,
Dhonuk.com should position themselves as an interactive
website.
 Dhonuk.com has a unique opportunity to enter the
market at a time when there is such fast growth in
economic social class structure of India.
 The target market with the most potential they should
focus on is the occasional buyer from the middle class.

25. CONTD..
 No one is focusing enough on this segment of the market
so it offers a great chance for a company like
Dhonuk.com to come in and increase their awareness of
art.
 Dhounk.com can accomplish this if they offer the
valuable tools of information, interaction with experts and
convenience.