the paint bar final presentation

“Unleashing the creative potential within us all.”

Provide an engaging atmosphere where customers have the freedom to express

creativity

Portfolio Development:Reposition Corporate events as Team-building

Product Development: Offer new products for current target market

Capitalizing on Paint Bar’s Strengths in Inspiring Creative Confidence Leads to Growth Opportunities

Business Plan 1:Redefining Corporate Events

Currently, the Paint Bar Offers Corporate Events Positioned as Fun Events

Q. How did you come about your decision?

A. “…. for fun and something different to do.”

- Emily Libby, BU MBA Director

Q. How was the experience facilitate team building?

A: “.. Get to have fun [with] yourself and friends…”

- Focus Group ParticipantSource: The Paint Bar Website

Paint Nite2.50690588

41%

Paint Bar1.389281256

23%

Muse Paint Bar

1.1628919%

PCAB0.49822

58%

Others0.615832836

10%

Estimated Paint-and-Sip Market Size in Boston

Total Market Size: $6.2m

With 1.7m full-time employees in Greater Boston, the total market size

is over $400m in 2015 .

Corporate Events Positioned as Team Building Have Upside Potential

Estimated EE Training Market Size in Boston

- Dr. Fred Foulkes, Director of HRPI

50% Of HR Respondents View Culture and Engagement as “very important”

“Decide your purpose and goals, and let them dictate the type of team building to try…”

- David Jacobson, TrivWorks Founder

“Look at goals [of events], is it a one time thing?”

Corporate Events Positioned as Team Building Have Upside Potential

Challenge HR Executives Face Today #1

Industries Rank Culture and Engagement as Their Biggest Organization Challenge5/9

Redefine Events that Meet Corporate Objectives

Acquire Team Building Certification for Instructors

Market with the Focus on Team Building Outcomes

Reposition Paint Bar’s Corporate Events to Address Engagement and Culture

Reposition Paint Bar’s Corporate Events to Address Engagement and Culture

Redefine Acquire Market

Mission Statement• Cultivate Creativity at Every Stage of a Team• Foster Belief in Creative Capacity• Create Strong Engagement Amongst

Participants

Introducing...

Corporate Package 1 Redefined to Fit Organization Needs

Redefine Acquire MarketCustomer Needs

Type: New Teams, New HiresChallenges: Trust, Communication, Being ComfortableReason: Getting Participants to BondSkills: Self Expression,

Communication

CurrentProducts

Redefined

Products

Redefine Acquire Market

Customer

NeedsCurrent Products:

Everyone Follows AlongRedefine

d Products

Corporate Package 1 Redefined to Fit Organization Needs

Redefine Acquire Market

Customer

NeedsCurrent Product

Redefined Products:Break the Ice

Corporate Package 1 Redefined to Fit Organization Needs

Corporate Package 2 Redefined to Fit Organization Needs

Redefine Acquire Market

Customer Needs

Type: Cross-Functional Teams

Challenges: Coordination, Understanding Different Mindsets

Reason: Work on Differences Across Team

Skills: Understand Different Perspective

Current Products

Redefined

Products

Redefine Acquire Market

Customer Needs

Current Products:Complementary Painting

Redefined

Products

Corporate Package 2 Redefined to Fit Organization Needs

Redefine Acquire Market

Customer Needs

Current Products

Redefined Products:Coordinated Mural Paintings

Corporate Package 2 Redefined to Fit Organization Needs

Corporate Package 3 Redefined to Fit Organization Needs

Redefine Acquire MarketCustomer Needs

Type: Mature, DevelopedChallenges: Seeing Individual Impact to OrganizationReason: Rejuvenate Team by

Celebrating Hard work and Successes

Skills: Navigate uncertainty, Team

Identity

Current Product

Redefined

Product

Redefine Acquire Market

Customer Needs

Current ProductWorking Together as a Group

Redefined

Product

Corporate Package 3 Redefined to Fit Organization Needs

Redefine Acquire Market

Customer

NeedsCurrent Products

Redefined Products:Build Your Cultural Artifact

Build a Cultural Artifact

Corporate Package 3 Redefined to Fit Organization Needs

Acquire Team Building Certification Provide Validity to Class Structure

Redefine Acquire Market

Why Get Certified?• Low Investment Cost• Establish Reputation• Access to Global Professionals

Website RedesignSales LinkedIn

Blogging

Develop a Clear Marketing Language with a Team Building Focus is Key

Redefine Acquire Market

Hiring a Salesperson with Extensive Experience in Both Team Building and Sales

Redefine Acquire Market

Salesperson Responsibilities:1. Communicate StrengthsLinkedIn BlogsManage Client Relationships

Hiring a Salesperson with Extensive Experience in Both Team Building and Sales

Redefine Acquire Market

Salesperson Responsibilities:1. Communicate Strengths2. LinkedIn BlogsManage Client Relationships

Hiring a Salesperson with Extensive Experience in Both Team Building and Sales

Redefine Acquire Market

Salesperson Responsibilities:1. Communicate Strengths2. LinkedIn Blogs3. Manage Client Relationships

Calendar Private Teambuilding Contact

Package 2: Coordinated Painting“Communicate and Connect!”

Teams of 3-6 people will collaborate on a 3 canvas mural. The team will have to use communication and coordination skills in order to create the finished product.

ObjectivesReinforce DiversityPromote Open Communication

Ideal For Teams:Facing Coordination IssuesMulti-Functional Teams

Testimonials“The event was great for participants to have open dialogue and communicate their problems. It is VERY engaging!”

Nancy T.

Contact Us

Download Details

Group Size…………. 0-30Time………………… 2 hoursPrice………………… $75/Person

Develop Website that Clearly Communicates Teambuilding Focus

Year 5

ROI 390%

Return on New Corporate Investments

Costs Revenue

Amount $132k $ 645k

% Change 10% 45%

Huge Opportunity for Growth in Revenue

Large Competitive Market Makes it High Risk, High Reward Move

1. Multiple Established Competitors

2. New Customer Base

3. High Initial Investment

1. High Value-Added Product

2. Large Potential for Growth

RIS

K

PR

OS

Business Plan 2:Developing New Products

9%

74%

9%

1%7% 1%Facebook Likes

BreakdownF (13-24)F (25-54)F (55-65+)M (13-24)M (25-65+)Others

SOURCE: FACEBOOK PAGE

Today, the Paint Bar’s Main Product Mainly Attracts Females Between Age 25 to 54

“Sometimes I donate paintings because I have no space in my apartment.”

“I’d like something smaller - like pottery.”

Focus Group Participant:

However, Main Customers Show Interest In New Things Besides Paintings

What do our target customers like?

• Home décor

• Cooking classes

• Trendy fitness classes

Understanding Customer Needs Gives Us Insights on Product Development

SOURCE: Survey with 280 ResponsesDIY: Vases,

Candles, etc.

Painting, Canvases

0.0500.0

1,000.01,500.02,000.02,500.0

2,100.0

389.0

Pinterest:

What do our target customers like?

• Home décor

• Cooking classes

• Trendy fitness classes

Understanding Customer Needs Gives Us Insights on Product Development

SOURCE: Survey with 280 Responses

Instagram:

02,0004,0006,0008,000

10,000

8,230.0

2,120.0

Research Shows That Compared with Paintings, People Are More Interested In Home Decoration

37%

10%10%

43%

Preferred Decor Items for Women (25-54)

Decorative Pillow

Floral Ar-rangment/Vase

Painting

Rug

SOURCE: Survey with 89 Responses

“Primp-A-Pillow”

New Products and Alignment with Paint Bar’s Core Strengths

“Centerpiece Sundays”

New Products and Alignment with Paint Bar’s Core Strengths

Marketing Online is the Best Way to Reach the Paint Bar’s Target Customer

Promotion Campaign

Social Media

Inbound Marketing

Use Facebook pay per click ads to target women:• Age . …..…………. 25-54 • Location………….. Greater

Boston• Interests….............. DIY

Marketing through Facebook and Instagram is the Easiest Way to Reach the Paint Bar’s Target Market

Social Media Inbound Marketing Promotion Online

1. Create content that is valuable to the target customer

- “10 ways to dress up your home”

- “5 Instagram DIY accounts”

Use Inbound Marketing to Push Out More Content That Your Customer will Love

Social Media Inbound Marketing Promotion Online

Use Inbound Marketing to Push Out More Content that Your Customer Will Love

1. Create content that is valuable to the target customer

- “10 ways to dress up your home”

- “5 Instagram DIY accounts we love”

2. Include Call-to-Action

Social Media Inbound Marketing Promotion Online

Social Media Campaign• Low Cost• Specific to Paint Bar• Tracks Current

Customers

Encourage Customers to Display and Share their Products Online Through Promotions

Social Media Inbound Marketing Promotion Online

ChristyVanGo

Tina_Tourtellini4 minutes

ago

KayBayBay

PrincessMao

OMG SO CUTE! Take me next time!

Let’s go! I heard they do vases. ;) But first…BRUNCH!

Making my home #PaintBarPretty with my custom pillows! #DIY #ThePaintBar

HawaiiTom,

FrankLinStein, MannieMouse

OMG, Shall we brunch?

Year 5

ROI 60%

Return on New Corporate Investments

Costs Revenue

Amount $120k $192k

% Change 9% 14%

Low Risk Volume Driven Strategy for Growth in Profit

The Product Development is a Risk and Opportunity to be a Leader in the Market

1. Products can be Easily Replicated

2. Increased storage and training

3. FAD Products

1. Reposition Products

2. Low Fixed Costs3. Same Customer

Base4. Adjustable

Strategy

RIS

K

PR

OS

Grow by Focusing on the Mission to Inspire Creative Confidence for All

Deliver the Mission

Corporate Events

New Product Offerings