Presented By:

Vikas Bharti Sharma

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.

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.

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.

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.

INDIAN ART MARKET & GLOBAL ART

MARKET FACEOFF

Online art auctions became popular amongst Indian

buyers.

MODES OF SELLING

Art galleries

Physical art auction

Online art like Saffron Art

Art websites

Art fairs like Indian Art Summit.

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.

WEBSITES SELLING ART

Christie’s (1766)

Showcase unique & beautiful art forms.

variety of services for art collectors.

good FAQ section in their website.

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.

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.

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

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

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.

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

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.

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

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.

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.

COMPETITORS OF DHONUK

Saffron Art-largest modern art auction

houses

Indian Art Collectors

Artjini

Artflute

IndianArtIdeas

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

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?

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.

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.

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.