6.1 Stakeholder Analysis
Stakeholder analysis is the first stage of stakeholder management and it is the process of identifying the most important stakeholders and understanding how to win their support (Thompson).
Every business depends on the existence of suppliers, customers and owners (Barnes, 2015). These and other groups in anyway involved with the business, whose needs and concerns need to be considered, are known as stakeholders. It is important to know the power, interest and influence of the stakeholders in regards to your business, if they have low or high involvement and which are more important than others.
Judy Laing Photography is a small business run by a single person and therefore has a fewer stakeholders than other bigger companies. Judy Laing is the main stakeholder as she is the single owner of the business and does not have any other employees. Her interest is high in regards to the success of the project/campaign as it would bring her new customers and get more recognition to her business. She has a significant role in planning the campaign as the client and our goal is to apply her wishes into our campaign plan to our best ability. We are constantly communicating with her through email as it is important to keep her informed of the progress due to her high interest, power and influence as the main stakeholder.
Second stakeholder in her business and in the success of this project is the target market/audience. They have a high power, the success of the business depends on the number of customers, and high interest as they want to know exactly what they are spending their money on. For the success of the project it is important that the audience remains interested and informed as they will be the ones bringing in new customers.
Other stakeholders are the people involved in the filming of the promotional commercials. They have no personal interest in the success of the project but need to be informed what the project is about and to what purpose their images are going to be used.
6.2 Competitor analysis
“Relaxed, natural family portraiture from start to finish. This is not an appointment…this is family time.”
Judy Laing Photography’s main competitors are other photographers located in the Aberdeenshire area who do portrait photography, in the studio as well as on location. Judy’s brand value is to deliver a lovely experience as well as amazing photos. While this is not the case for some of her competitors they still need to be taken into consideration as the experience part of the shoot is only an addition to the main reason customers seek out photographers and that is the actual photographs.
- Emma Lawson photography is based in Aberdeenshire and does very similar photography as Judy. She takes photos on location and of families but based on her website she specializes more in photographing weddings.
- Nicholas Frost Photography is also located in Aberdeen and specializes in children photography but also does maternity, newborns and family portraits.
- Portraiture states that their family photography covers Aberdeenshire and does on location photography in the customer’s own homes.
- Flash photography is a big photography company in Aberdeen and does offer a huge range of different style photos.
Based on the competitors listed above Judy’s business, while not overly different in the style of the photos, has a unique approach to the process of shooting the photographs and that is her unique selling point.
Barnes, L, & Westenius, A 2015, ‘MANAGING COMPLEX BUSINESS RELATIONSHIPS: SMALL BUSINESS AND STAKEHOLDER SALIENCE’, Journal Of Developing Areas, 49, 6, pp. 481-488, Business Source Complete, EBSCO, viewed 5 March 2016.
Flash Photography [online]. Aberdeen. Available from:http://www.flash-photography.com/%5BAccessed 6 March 2016].
Frost, N. Nicholas Frost Photography. [online]. Aberdeen. Available from:http://www.nicholasfrostphotography.co.uk/portraits %5BAccessed 6 March 2016].
Lawson, E. Emma Lawson Photography. [online]. Aberdeen/Glasgow. Available from: http://emmalawsonphotography.com/portfolio/family/ [Accessed 6 March 2016].
Portraiture photography. [online]. Aberdeenshire. Available from: http://www.portra.it/PORTRAITS-FAMILY.aspx [Accessed 6 March 2016].
Thompson, R. Stakeholder Analysis. Winning Support for Your Project. [online]. London: BBC. Available from: https://www.mindtools.com/pages/article/newPPM_07.htm [Accessed 4 March 2016].