WHATKNOT PHOTOGRAPHY: VALUE VERSUS VOLUME
CASE STUDY SOLUTION
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SYNOPSIS
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WhatKnot Wedding Photography (WhatKnot), a mid-size wedding photography service provider based in
Mumbai, India, faced the challenging dilemma of choosing between a high-value focus and a high-volume
differentiation business strategy. In June 2021, WhatKnot was in line to secure a contract for a US$35,0002
celebrity wedding photography event. This amounted to nearly nine times their revenue from a regular mid-
size client ($4,000) and promised widespread coverage of their work in leading media channels. It was a
n
chance to showcase their talent and capture the attention of the country’s elite while earning substantial
tio
income. However, the key concern was their capacity to execute such a high-value opportunity. This
entailed intensive and prolonged involvement of senior management, directing all company resources to
this project for a period of eight to ten months, and the necessity of additional resources.
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Up to this point, WhatKnot had been servicing mid-size weddings and handling approximately 55 such
So
The Case Solution Starts From page 6
,• Conduct environmental and organizational analysis to make target segment choices.
• Apply Porter’s generic strategy model to decide on a future growth strategy. Students will be required
to choose between differentiation, cost leadership, and focus strategies within the given opportunities
and constraints.
• Evaluate the financial implications of different opportunities. Students will identify short-term and
long-term expenditures, earnings, and profits to arrive at a decision. In the process, they will understand
the critical need for accurate forecasting to facilitate better decision-making.
• Apply the classic attention, interest, desire, and action (AIDA) model in the context of the two strategic
options.
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ASSIGNMENT QUESTIONS
1. What are the pros and cons of the two strategic options Marathe and Mahagaonkar are considering for
WhatKnot?
2. Evaluate the financial implications of the two options.
3. What would be an ideal segment to target?
4. Analyze the case using Porter’s generic strategy model and recommend a future growth strategy for
WhatKnot.
The Case Solution Starts From page 6
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pl
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ANALYSIS
1. What are the pros and cons of the two strategic options Marathe and Mahagaonkar are
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considering for WhatKnot?
WhatKnot can either go ahead with the celebrity wedding (high-value business) or continue catering to
mid-size clients (volume business). A detailed analysis of the advantages and disadvantages of each option
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are given below:
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Celebrity Weddings: Advantages
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• Publicity, media coverage, and stardom. A celebrity wedding can fetch publicity and stardom. It
ensures extensive media coverage; if WhatKnot successfully caters to such weddings, it can rise to the
So
status of a celebrity photography firm. This would not be possible if it serviced only mid-size clients.
A couple of successful celebrity weddings could ensure more business from the celebrity circle.
• Higher profit margin. A celebrity wedding ensures much higher profit margins compared to a mid-size
wedding.
• A leaner team. If WhatKnot decides to go ahead with celebrity weddings, they can maintain a lean
organizational structure since there will typically be one celebrity wedding at a time. Sustaining this
business with a team of just 15–20 people is possible. Unlike mid-size weddings, which are a volume
business, celebrity weddings are niche. They require fewer employees, but those employees need to be
highly skilled. Therefore, the complexities of hiring and attrition will be different, given that there
would not be a big team of in-house talent needed to handle this business.
•
•
The Case Solution Starts From page 6
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EXHIBIT -2: FORECASTING ANALYSIS FOR BOTH PROPOSALS FOR THE NEXT 5 YEARS
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Scenario one: celebrity Scenario two: mid-size
wedding photography wedding photography
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Number of weddings in year 5* 20 300
Per wedding revenue earned ($) 35,000 4,000
Total revenue for fifth year ($) 700,000 1,200,000
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Expense ($)
Number of employees 25 100
Average salary 9,800 3,500
Total salary 245,000 350,000
Equipment cost 150,000 350,000
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50,000
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So
The Case Solution Starts From page 6
, EXHIBIT -5: COMPARATIVE ANALYSIS
Celebrity/high-value Mid-size/high-volume
wedding photography wedding photography
Similar; slightly higher in the beginning
Profit Similar; slightly higher when volumes achieved
but the profit will level out
Status &
aspiration
AIDA stage
e
pl
Differentiation
m
Sa
n
tio
lu
So
The Case Solution Starts From page 6
CASE STUDY SOLUTION
e
pl
m
SYNOPSIS
Sa
WhatKnot Wedding Photography (WhatKnot), a mid-size wedding photography service provider based in
Mumbai, India, faced the challenging dilemma of choosing between a high-value focus and a high-volume
differentiation business strategy. In June 2021, WhatKnot was in line to secure a contract for a US$35,0002
celebrity wedding photography event. This amounted to nearly nine times their revenue from a regular mid-
size client ($4,000) and promised widespread coverage of their work in leading media channels. It was a
n
chance to showcase their talent and capture the attention of the country’s elite while earning substantial
tio
income. However, the key concern was their capacity to execute such a high-value opportunity. This
entailed intensive and prolonged involvement of senior management, directing all company resources to
this project for a period of eight to ten months, and the necessity of additional resources.
lu
Up to this point, WhatKnot had been servicing mid-size weddings and handling approximately 55 such
So
The Case Solution Starts From page 6
,• Conduct environmental and organizational analysis to make target segment choices.
• Apply Porter’s generic strategy model to decide on a future growth strategy. Students will be required
to choose between differentiation, cost leadership, and focus strategies within the given opportunities
and constraints.
• Evaluate the financial implications of different opportunities. Students will identify short-term and
long-term expenditures, earnings, and profits to arrive at a decision. In the process, they will understand
the critical need for accurate forecasting to facilitate better decision-making.
• Apply the classic attention, interest, desire, and action (AIDA) model in the context of the two strategic
options.
e
pl
m
Sa
n
tio
lu
So
ASSIGNMENT QUESTIONS
1. What are the pros and cons of the two strategic options Marathe and Mahagaonkar are considering for
WhatKnot?
2. Evaluate the financial implications of the two options.
3. What would be an ideal segment to target?
4. Analyze the case using Porter’s generic strategy model and recommend a future growth strategy for
WhatKnot.
The Case Solution Starts From page 6
, e
pl
m
ANALYSIS
1. What are the pros and cons of the two strategic options Marathe and Mahagaonkar are
Sa
considering for WhatKnot?
WhatKnot can either go ahead with the celebrity wedding (high-value business) or continue catering to
mid-size clients (volume business). A detailed analysis of the advantages and disadvantages of each option
n
are given below:
tio
Celebrity Weddings: Advantages
lu
• Publicity, media coverage, and stardom. A celebrity wedding can fetch publicity and stardom. It
ensures extensive media coverage; if WhatKnot successfully caters to such weddings, it can rise to the
So
status of a celebrity photography firm. This would not be possible if it serviced only mid-size clients.
A couple of successful celebrity weddings could ensure more business from the celebrity circle.
• Higher profit margin. A celebrity wedding ensures much higher profit margins compared to a mid-size
wedding.
• A leaner team. If WhatKnot decides to go ahead with celebrity weddings, they can maintain a lean
organizational structure since there will typically be one celebrity wedding at a time. Sustaining this
business with a team of just 15–20 people is possible. Unlike mid-size weddings, which are a volume
business, celebrity weddings are niche. They require fewer employees, but those employees need to be
highly skilled. Therefore, the complexities of hiring and attrition will be different, given that there
would not be a big team of in-house talent needed to handle this business.
•
•
The Case Solution Starts From page 6
, e
EXHIBIT -2: FORECASTING ANALYSIS FOR BOTH PROPOSALS FOR THE NEXT 5 YEARS
pl
Scenario one: celebrity Scenario two: mid-size
wedding photography wedding photography
m
Number of weddings in year 5* 20 300
Per wedding revenue earned ($) 35,000 4,000
Total revenue for fifth year ($) 700,000 1,200,000
Sa
Expense ($)
Number of employees 25 100
Average salary 9,800 3,500
Total salary 245,000 350,000
Equipment cost 150,000 350,000
n
50,000
tio
lu
So
The Case Solution Starts From page 6
, EXHIBIT -5: COMPARATIVE ANALYSIS
Celebrity/high-value Mid-size/high-volume
wedding photography wedding photography
Similar; slightly higher in the beginning
Profit Similar; slightly higher when volumes achieved
but the profit will level out
Status &
aspiration
AIDA stage
e
pl
Differentiation
m
Sa
n
tio
lu
So
The Case Solution Starts From page 6
