3. Jan 11,2011, Shamit
Bagchi was in a
contemplative mood.
He was working
as an engineer
for the past 8
years.
He decided
to do his
post
graduation
from IIM
Banglore
An idea struck
him: combine
Consumer
Behavior and Art
He resigns his
job
He started an
online art
firm
www.dhonuk
.com
5. A HNI was defined as a person with
net assets of at least US Dollar 1
million (roughly INR 50 million),
excluding that persons primary
residence and consumables. An
Ultra HNI was a person who had an
investable income of US Dollar 30
million (roughly INR 1.5 billion).
HIGH NETWORTH INDIVIDUALS
6. Worldwide, art related
products were
estimated to comprise
approximately 16% of
all luxury goods.
SHARE OF LUXURY GOODS/
PASSION INVESTMENT
9. The art categorized as “Affordable” saw huge rise of
sale in India.
It as in a range between INR20,000 to INR75,000.
This segment of buyers was probably expanding and
benefiting the most.
India was not a big market for arts, but technological
interventions like The Art Project by Google
broadened the interest of anyone who had
dormant interest in the visual fine arts.
Online art auctions had also seen a rise in the Indian
art context.
13. DHONUK – INDIAN ART LEAGUE
Dhonuk is an online platform for art lovers.
It provides an online space for creativity in
the art.
It is a platform to connect artist and
artsumer.
14. FEATURES ON THE WEBSITE
• Enabled registered artists to showcase their own
profile and upload photos of their artwork.
• Leave comment
• Discussion forum for consumer
• Art lover and art connoisseurs could interact with
artists and other buyers.
• Art can be Ordered through email or telephone
• Affiliated artist create art according to customer
feedback
• Dhonuk provides
- Convenience buying
- Includes added advantage.
15.
16. FORMS OF ART AVAILABLE IN
DHONUK
AbstractArtDigitalArt
17. FINE ART
• It was created on aesthetic rather than decorative
ground.
• Fine art buyers
- Home decorator
- Art collector
- Wealthy HNIs
• Lifestyle
- Very active socially
- Indulged themselves in art in some way
- Travel in luxury car
- Stay in luxury apartment
18.
19. ABSTRACT ART
• It does not represent reality, it s based on actual reality.
• Abstract art buyers
- One who understand the deeper meaning behind
the symbol of religion
- Who had deep aesthetic sense
- Who is not very open in discussing their ideas,
etc.
• Lifestyle
- Contemplative person – enjoy walking in park,
indulge in gardening.
- They were often reclusive and solitary beings
- They will read lot of books.
- Read more religious books
20.
21. FIGURATIVE ART
• It is inspired by natural world.
Make use of tangible objects to convey
message.
• Figurative art buyers
- Understands exactly what the artwork
conveys.
- They have strong analytical skills.
• Lifestyle
- High level TV viewing.
- Highly social.
22.
23. DIGITAL ART
Artworks created on a computer
Digital art buyers
- Enjoys non-traditional and concept
imaginary art.
- Consumers are interested in a
contemporary society.
Lifestyle
- Relies on social networking for art.
- Easily socializes with people.
24.
25. NUMBER OF HIGH NET WORTH
INDIVIDUALS
YEAR
2005
2006
2007
2008
2009
2010
29. LIFE STYLE ANALUSIS – QUESTIONNAIRE
SAMPLE QUESTIONS
• ACTIVITIES:
• I often go to theatres
• I read the newspaper everyday
• I follow news on the arts
• INTERESTS:
• I am interested in learning about society
• I like to collect art works
• I like to buy a variety of things
30. OPINIONS:
We should be updated with different aspects
and issues in the society.
I feel emotionally involved with art as this
makes me feel satisfied.
I am a very spiritual person
31. CONSUMERS UNIQUENESS ANALYSIS –
QUESTIONNAIRE
SAMPLE QUESTIONS
SELF-CONCEPT SCALES:
I collect unusual products as a way of telling
people that I am different
I actively seek to develop my personal
uniqueness by special products or brands
Concern for being out of place doesn’t prevent
me from wearing what I want to wear
32. INVOLVEMENT ANALYSIS –
QUESTIONNAIRE
SAMPLE QUESTIONS
INVOLVEMENT SCALES:
I would be interested in reading about how
the artwork is made
I would be interested in art journals and
magazines
I speak to a lot of curators before buying an
art
33.
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35.
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43.
44.
45.
46. ANALYSIS
• The analysis has been carried for from three
dimensions of consumer behavior:
– Lifestyle
– Uniqueness
– Involvement levels
• Buyers lifestyle, income and social status contribute
much to a customer’s preference on art materials
and their sense of uniqueness and involvement in
the field.
47. • Data showing increase in the no. of HNI in India is a
positive sign showing a great opportunity for
Dhonuk
• Young buyers are more interested in digital arts.
Indian population statistics shows the future census
of Indian consumer sector would be of 70% youth.
A bi-polar segmentation for both elite league (fine
art) and youth (digital art) could help Dhonuk to
wake up from the present stagnant situation
54. PROPOSED MARKETING MIX
• Price: Artwork price range on Dhonuk is from INR
5000 to INR 100,000.
• Product: Products include digital and
contemporary art. Contemporary art works
will be displayed with prominent themes
relating to nature, spiritual symbols along
with ample data provided about each of the
artworks. Details of technique, history of the
artist’s shows to establish their reputation will
all be documented in greater detail.
55. • Place: Online availability is definitely the key
differentiator to provide greater accessibility. Online
transaction gateway to enable online buying is in the
plans for the near future.
• Promotion: Promotion will be through word of mouth
and targeting the psychographics identified through
advertising, PR campaigns, and social media, art
awareness events and seminars, free art pamphlets
usage along with art exhibition event promos.
