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Our group chooses to start a service business venture. The service we provide is Photo editing software that includes tutoring for beginners and students who need guidance. We also give exclusive designs for those who subscribe to our service. the idea of starting this business comes after one of our groupmate could not afford to subscribe to photo editing.

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Short term goal: introduce the software to iium student

Intermediate-term goal: do a collaboration with other businesses to obtain license certification

Long term goal: make our software well-known globally for professional designing tools

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In terms of service operations, our photo editing software offer customer support and technical assistance to our clients that pay for subscription, which can be considered a service operation within the supply chain.

In terms of goods production, the development and manufacturing of the photo editing software itself can be considered a part of the goods production process within the supply chain.

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Some factors that would determine our marketing strategy include the target market for the software (individuals and organizations in need), the competition in the market (other open-source and proprietary photo editing software options), and the unique value proposition of our product (free and accessible alternative to expensive options).

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Our marketing plan would include the following:

Market Segment: Our target market would be individuals and organizations in need, such as low-income individuals, nonprofit organizations, and educational institutions. We believe that these segments would benefit the most from a free and accessible photo editing software option.

Marketing Mix (Four Ps):

Product: Our product is the open-source photo editing software, which offers a free and accessible alternative to expensive options.

Price: Our pricing strategy would be to offer the software for free, with the option for users to make donations to support the development and maintenance of the software.

Place: The software would be available for download on our website, as well as popular app stores and marketplaces.

Promotion: We would promote the software through online marketing campaigns, community outreach, and partnerships with relevant organizations and institutions.

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We would use both internal and external resources to finance our business enterprise. Internally, we would use our own cash and might ask friends and family for investments. We would look for investment externally from venture capital companies and other investors that are enthusiastic about our business plan and objective. This decision was made in order to benefit from the resources and assistance that both internal and external sources can offer.

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Our human resource planning for our new business venture would involve offering competitive compensation packages for all positions, as well as providing benefits such as health insurance and retirement plans. We would also offer incentives for employees who contribute to the success of the business, such as bonuses and equity in the company.

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Expert power, referent power, and legitimate power are the forms of power that our company venture's leaders would value most. In order to properly guide and lead the team, our executives would need to have competence in the areas of software development and photo editing. Referent power is crucial because for our leaders to be successful, they must gain the team's respect and trust. Because our executives would need to have the power to decide and act on behalf of the company, legitimate power is crucial.

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Ammar - One lesson we have learned from this project is the importance of having a clear and well-defined business model and strategy. It is crucial to have a clear understanding of the product or service being offered, the target market, and the unique value proposition in order to attract investors and customers. Additionally, having a strong and dedicated team is essential for the success of any business venture

Aizuddin - what I get from this group project activity is That you need to analyze, find the problem and come out with a solution for any kind of businesses. To make sure any business to run well, it is encourage for them to plan out the business, do market research, take good examples from the expert or competeter as well as take opportunities in business.

Najihah - what I get from this group project activity is the importance of communication between group members. It is good to hear different perspectives from others and try to accept it. This show how we can tolerate with the idea of give-and-take between members.

Aisar - what I get from this group project activity is you need to learn and get knowledge by doing researches for your project. It is important as knowledge sharpens our skills like reasoning and problem-solving. A strong base of knowledge helps brains function more smoothly and effectively. We become smarter with the power of knowledge and solve problems more easily.

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Photo Editing Software - IIUMEdit

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Bidayatun Najihah Binti Bukhaari
2216798

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Aisar Nasrun Bin Ramjee
2216791

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https://docs.google.com/document/d/1VasF31tVo47OkMMFMHz6ynP-smX842J_oeEm4dtrnF0/edit

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Aizuddin Ishqal Bin Abdullah
2216207

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Ammar Qasiem Footen bin john Anthony Footen
2217441

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We actually have done the blog in Canva, but it cannot be published and we don't know why it happens. So, feel free to visit it!