A Decline in the Professional Photography Industry
EXECUTIVE SUMMARY
The previous five years of the Professional Photography industry have demonstrated an overall decline. Having being driven down by the demand from advertising services, the effects of rising interest rates on real house hold disposable income and rapid growth in technology all played major parts in the performance of the Professional Photography industry.
The industry is extremely large and highly competitive as there are low barriers in entering the photography, as well as photography becoming growing cultural trend. It is recognized that with a large release of high quality cameras available to the general public, the photography industry is under threat and can fall into becoming obsolete.
Due to stabilizing interest rates and the progress of getting out of the financial crisis, there is an expected growth of the Real Estate Industry to grow up to $28.1billion in 2015. This is to be taken into account as this opens opportunities for growth and development for Open2View.
Action is to be taken to which changes to the website needs to be completely changed. This is a risen opportunity that has been identified, where Open2View can enter the market of Online Property Websites. Establishing alliances and creating a more environmentally friendly approach can be taken onboard to improve brand perception. The Open2View Product of providing a professional and quality service is further concentrated with providing the opportunity for franchisees to be educated on changing technologies and photographic techniques that can be applied.
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TABLE OF CONTENTS
Executive Summary ………………………………………………..i
1.0: Introduction ………………………………………………..4
1.1 Client Introduction & background …………………………………………..4
1.2: Description of Business ………………………………………………..4
1.3: Description of Current Product Mix ………………………………………..5
1.2 Analysis of Core Competence ………………………………………………..5
2.0: Opportunity
The previous five years of the Professional Photography industry have demonstrated an overall decline. Having being driven down by the demand from advertising services, the effects of rising interest rates on real house hold disposable income and rapid growth in technology all played major parts in the performance of the Professional Photography industry.
The industry is extremely large and highly competitive as there are low barriers in entering the photography, as well as photography becoming growing cultural trend. It is recognized that with a large release of high quality cameras available to the general public, the photography industry is under threat and can fall into becoming obsolete.
Due to stabilizing interest rates and the progress of getting out of the financial crisis, there is an expected growth of the Real Estate Industry to grow up to $28.1billion in 2015. This is to be taken into account as this opens opportunities for growth and development for Open2View.
Action is to be taken to which changes to the website needs to be completely changed. This is a risen opportunity that has been identified, where Open2View can enter the market of Online Property Websites. Establishing alliances and creating a more environmentally friendly approach can be taken onboard to improve brand perception. The Open2View Product of providing a professional and quality service is further concentrated with providing the opportunity for franchisees to be educated on changing technologies and photographic techniques that can be applied.
i
TABLE OF CONTENTS
Executive Summary ………………………………………………..i
1.0: Introduction ………………………………………………..4
1.1 Client Introduction & background …………………………………………..4
1.2: Description of Business ………………………………………………..4
1.3: Description of Current Product Mix ………………………………………..5
1.2 Analysis of Core Competence ………………………………………………..5
2.0: Opportunity
References: Dunn, D. (2010). IBISWorld Industry Report L7711: Residential Property Operators and Developers in Australia. IBISWorld. Dunn, D. (2010). IBISWorld Industry Report L7720: Real Estate Agents in Australia. IBISWorld. McMillon, P. (2010). IBISWorld Industry Report Q9523: Professional Photography in Australia. IBISWorld. Open2View. (2010). Services. Retrieved October 2010, from Open2View: www.open2view.com.au/services Moore, G Trott, P. (2008). Innovation Management & New Product Development. English : Pearson Education. Dunn, D. (2010). IBISWorld Industry Report L7720: Real Estate Agents in Australia. IBISWorld. McMillon, P. (2010). IBISWorld Industry Report Q9523: Professional Photography in Australia. IBISWorld. Open2View. (2010). Services. Retrieved October 2010, from Open2View: www.open2view.com.au/services(9 step to greening your business, Unknown author).