1. New Business Strategy Development
Nick Ozog
BIT 335: Business Driven Technology
Walsh College

2. 350 Livernois Rd, Troy, MI 48007
TELEPHONE | 734-555-3200
EMAIL | info@nickozogphotography.com
thethickofit.wix.com/nickozogphotography
j facebook.com/nickozogphotography
twitter.com/nickozogphotography
Families - Couples - Weddings - Headshots
Front
Business Card
Back

3. Porter’s Five Forces Model
BUYER POWER:
• Large number of potential customers as everyone desires quality photos of
their loved ones, especially at special events like weddings. Headshots are a
niche market with less demand.
• First time customers highly sensitive to price. Repeat customers determined
by a combination of price and loyalty based on satisfaction of previous
experience and end product.
• Orders both small and large depending on project. Cost ranges with expected
number of photos taken and shoot time, from a few hours to an entire day per
client. End prints purchased also vary from a few to several dozen.
• Differences between competitors are most often very small, depending on
specificity of what is desired and shown mostly by the style and quality of
displayed portfolios.
Conclusion: Buyer power is STRONG, with potential clients having many different
photographers to choose from in the metro Detroit area and initial decisions
primarily based on price. Although product quality is a close second determiner, it
comes into play mostly for repeat customers and referrals. Loyalty program could
reduce repeat buyer power.

4. Porter’s Five Forces Model
SUPPLIER POWER:
• Very high number of suppliers for needed materials and equipment (ie: film,
cameras, photo paper, etc).
• Suppliers are mostly large companies (ie: Kodak, Canon).
• Products offered are extremely similar.
• Able to be substituted, such as film for digital, or different types of print paper.
• Cost of changing would be minimal if necessary.
Conclusion: Supplier power is WEAK, with many suppliers to choose from and
most equipment being good for long-time usage.

5. Porter’s Five Forces Model
THREAT OF SUBSTITUTE PRODUCTS OR SERVICES:
• Substitutes for services and end product depend on clients’ desired level of
quality. Possible professional photographer alternatives include amateur
friends/family photographers using their own cameras (digital, film, or video)
or even smart phones.
• Many substitutes for event/wedding prints, such as pictures taken by other
guests or client choosing to print themselves from the given photo data DVD.
Less of a problem for family portraits and headshot prints.
• Cost of substitutes is substantially less for customer, often free.
Conclusion: The threat of substitute products and services is potentially STRONG,
depending entirely on the project and customer’s desired level of quality. Most
alternatives are of noticeably lesser value, but readily available.

6. Porter’s Five Forces Model
THREAT OF NEW ENTRANTS:
• Depending on extent of operation and services offered, not too costly to enter
industry. Much time required from new entrants to create a portfolio and
trusting customer base.
• Experience needed and talent required that can usually not be taught.
• Economies of scale are minimal, only really applying to supplies and cost of
photo lab for prints.
• Photographers who have been in the business for a while and acquired all
necessary equipment see a cost advantage over others who still need to
acquire these things.
• No technology protection
(continued on next slide)

7. Porter’s Five Forces Model
THREAT OF NEW ENTRANTS (continued):
• Entry barriers include talent and skill needed to consistently shoot good
photos. In addition, a photographer’s own studio, offerings of different photo
manipulations, such as black and white or selective colorization, and the
photographer’s ability to work well with people would be expected and put a
business ahead of one that does not possess these things.
Conclusion: The threat of new entrants is STRONG. Although experience and time
required limit the threat, professional photographers (as well as amateurs) are
abundant and can enter the portrait market easily.

8. Porter’s Five Forces Model
RIVALRY AMONG EXISTING COMPETITORS:
• A large number of competitors in the metro Detroit area, specializing in all areas
including portrait, wedding, and headshot photography.
• Products are very similar and quality differences are mostly subjective.
• Competitive differences occur in type of photography offered and specialized in.
• Each photography project is an inclusive experience, eliminating any financial
customer switching costs. Intangible switching costs include having to develop
rapport with another photographer and time spent looking for one whose skill is
deemed compatible.
• Customer loyalty high based on earned trust, assuming they were happy with their
experience, made higher with loyalty program discount.
• Number of exit barriers and subsequent cost of leaving market are determined by
magnitude of business, but are usually minimal.
Conclusion: Rivalry among existing competitors is extremely STRONG, with many local
competitors in all avenues of the photography market, offering similar products.
Photographers forced to compete based on customer loyalty, reputation, and price.

9. Porter’s Five Forces Diagram
COMPETITIVE RIVALRY
(STRONG)
- Large number of competitors
- Subjective quality differences
- Minimal switching costs
- High customer loyalty
- Low cost to leave market
BUYER POWER
(STRONG)
- Large customer demand
- Both small and large
orders
- Small difference between
competitors
- High price sensitivity
SUPPLIER POWER
(WEAK)
- Many suppliers
- Mostly large companies
- Products offered are very
similar
- Can be substituted
- Minimal cost of changing
THREAT OF
SUBSTITUTION
(STRONG potential)
- Abundant substitution
with sacrifice of quality
- Alternatives often free
THREAT OF NEW
ENTRY (STRONG)
- Not too costly to enter,
but time required
- Skill/talent needed to be
successful
- Minimal economies of
scale
- Cost benefit for business
that has acquired all
equipment
- No technology protection
- Some substantial entry
barriers

10. Advertising Campaign
1: Google Adwords: Focusing on keywords such as Photographer, Photography,
and Portraits, this will increase chances of being found at the top of Google search
results. After references from others, an internet search is the most likely way a
new prospective client will search for a photographer.
2: One Model Place.com: Develop a profile, including work portfolio, bio, and
contact information for this online community connecting modeling professionals
(photographers, models, and stylists) for industry-related job-postings and
networking. Will be beneficial in an effort to expand model and headshot
business.
3: Email Blasts: Work with a marketing firm to target families with graduating
seniors and persons who subscribe to wedding magazines or have attended
wedding shows or expos within the region. Such emails will increase brand
awareness, as well as encourage visits to my webpage.

11. Advertising Campaign
4: Facebook: Keep my business profile up to date by making daily postings of
studio happenings, special promotions, discounts, and recent pictures from jobs
(as allowed by clients). This will expand my social network and increase business
awareness. Although it may seem obvious, keeping Facebook up to date is as
important as with your actual website, especially for repeat business.
5: Online Photography Workshops: In addition to in-studio photography classes,
hold a free online quarterly workshop teaching photography and editing skills.
This can be done through online web conference and teleconference and will
establish myself as an industry leader and again increase brand awareness. It will
also increase clients as students will turn to me for projects due to familiarity and
knowledge of what I can do.
6: Linked-In: Create a profile to expand professional circle by connecting with
people in and outside my industry. Could lead to jobs as well as advantageous
partnerships.

12. Advertising Campaign
7: Craig’s List: Create a free listing under the Services section. This will reach a large
local customer base actively looking to hire in my industry and field.
8: Yelp.com: Create a free listing describing the business and services offered, and
encourage past, admiring clients to leave reviews. This positive word of mouth can be
the tipping point for a potential client deciding between me and another photographer.
9: Photographer Central.com: This site allows customers to search for photographers
in their area based on style, location, price, and recommendations. It then provides
information on the photographer, testimonials, a sampling of their work, as well as their
website and how to contact them. Setting up a profile to be a contender in this
database is a must.
10: The Knot.com: Similar to the above, but specifically for all wedding businesses, not
just photographers. An attractive profile would serve well to increase brand interest in
wedding photography.

13. Website
This is my website:
www.thethickofit.wix.com/nickozogphotography

14. Image Sources
Actual Studio photo obtained from:
www.iwinkstudios.com/series-ii
All other photos courtesy of:
www.wix.com