Executive Summary

 

The Company

Ingenious Africa Media is a creative and innovative advertising and marketing Company based in Rustenburg, South Africa. The Company intends to specialize in the provision of advertising, marketing and media communication oriented solutions. The venture is essentially a start up advertising and marketing Company and is owned and managed by young, passionate and committed business entrepreneurs. Daniel, Craig and Neo are the founders of Ingenious Africa Media. The business was successfully registered as a Company in 201X and has great potential for success in future. Ingenious Africa Media was conceptualized to address one of the major problems facing small and medium enterprises today: access to affordable yet efficient, effective and results-driven advertising and marketing solutions.

As competition within the advertising and marketing arena continues to flourish, pricing pressures push margins lower and lower. Ultimately, only those entities providing value based advertising and marketing solutions will survive. Ingenious Africa Media has been formed by a team of experienced executives whose sole purpose is to provide small and medium sized enterprises with value based advertising and marketing solutions.

Ingenious Africa Media intends to conceive and create marketing concepts and solutions for clients within the tourism and hospitality arena. The business will develop core ideas for marketing campaigns and then create a series of advertising and promotion solutions which address the idea across various media. The media that the business intends to use are a rich media website (with integrated social networking features), magazine and a promotion and advertising solution center. The Company will place a strong focus on the development of new and innovative strategies for potential clients and deliver significant value. Ingenious Africa Media’s guiding corporate philosophy will encompass high quality, innovative, unparalleled and creative services, and competitive value-based prices.

The Business Opportunity

The media and advertising industry currently shows growth (particularly the online media faction) marked by a higher demand. The development of new business strategies and solutions is considered to be significant to most new industry players. Additionally, there is a remarkable growth in the tourism and hospitality industry in South Africa. Upcoming sports events will outlook remarkable growth in the tourism industry and other sectors of South Africa. Moreover, the government has intensified its efforts to promote tourism in South Africa. There is room for more efforts to ensure that the promotion of tourism reaches the households of both domestic and foreign tourists. This presents an opportunity for Ingenious Africa Media to strategically capitalize on this scenario and position itself as an advertising and marketing agency of choice.

The Market

The market predominantly features corporate market segments as compared to individual market segments. The identified market segments include the following: bed and breakfast accommodation providers, lodges, hotels, tour planners, transport/transfers and logistics, tour planners, game reserves, tourist information centers and tourism authorities.

The Target Market
The proposed target market for this exciting business venture will primarily be composed of the corporate market segment. The main customers will encompass small to medium sized tourism related businesses such as bed and breakfasts, lodges, hotels, travel agents, guest houses, tour buses, tourist attraction centers and flight travel agents. Ingenious Africa Media also intends to attract Golf estates, museums and heritage sites.

The Competition
The business will face both direct and indirect competition. Direct competition will primarily emanate from small to medium sized advertising entities in Rustenburg and surrounding areas that serve a similar market as the proposed target market for Ingenious Africa Media. They include: Action Advertising CC, Rusties, Sumari Designs, Impact Leisure Productions, Ledicopa Printers, Pienk Vark graphic design and website design and Mira Media and Advertising amongst others. Indirect competition emanates from radio stations such as North West fm, SAFM and other pioneering radio stations in South Africa. Indirect competition for Ingenious Africa Media also includes: broadcasters such as SABC, established advertising agencies with a national and international presence as well as market research entities to mention a few principle ones.

Competitive Advantages
The competitive advantages for Ingenious Africa Media will be to primarily focus on customer intimacy and building strong value laden relationships with clients and other business stakeholders. This will entail having an excellent understanding of the needs and preferences of the potential clients and delivering as per their expectations. The business will strategically pursue niche markets as opposed to a mass market and tailor its marketing mix to ideally match the proposed target market.