Your assignment is to prepare and submit a paper on business of photo rental equipment company. Photo Rental Co. is a photography equipment rental company that .aims to provide a digital platform, both web, and app, from which travelers across the globe would locate and rent their desired photography equipment. In addition, renters may use the same platform to increase the market visibility of their products. The renter places their products in the platform and the travelers then select a product based on their specification and location.
The main goal of the company is to increase the ease at which the photography rental equipment industry is keen to administer the needs of the regular traveler. The company recognizes that the regular traveler relies heavily on the abilities of their mobile phones to access basic travel amenities. For this reason, the creation of a website and an application provides the ease at which the traveler may access photography rental services. This is the mission shared by the organization as it strives to increase its online presence for the use of travelers across the globe.
Revenue sources for the company are directly linked to the web platform created. Majorly, both the user and the renter that uses the digital platform pay a commission to the company. The users are required to pay a higher commission to the company than the renter. Other revenues sources from the venture include the provision of a marketing prospect for business in the field. For instances, tourism hotspots may use the digital platform to market their products and services.
The success of the company is based on the creation of stages for the market introduction, penetration and dominance. After the creation of the product, the product would go through the first stage of the website creation. The website would then be marketed in New York City. The second stage sees the expansion of the product to the city of Chicago and Miami. The two stages rely massively on the use and maximization on the marketing opportunities provided by giant social networks of Facebook, Twitter, Instagram, and YouTube. The other stage is the creation of the app and the development of the website.