WhatKnot Photography: Value versus Volume

In June 2021, Mumbai-based WhatKnot Wedding Photography faced a critical decision between pursuing high-value celebrity weddings or maintaining their focus on mid-size clients. A potential celebrity wedding contract posed a significant opportunity for both revenue and exposure. However, this venture required extensive senior management involvement, redirection of resources, and potential strain on existing client relationships. The company’s co-founders held opposing views: while one favoured consolidating their position in the mid-size market, prioritizing stability, and client relationships, the other advocated for pursuing high-value contracts to gain prominence and higher revenue. The dilemma highlighted the trade-off between pursuing high-value opportunities and maintaining existing business models. This decision would shape the company’s future direction and market positioning, with implications for both short-term gains and long-term sustainability.

This case can be incorporated into marketing management, strategic management, and entrepreneurship courses. It is suitable for undergraduate business administration or the first year of a postgraduate or master’s program in business management. It may also be readily utilized in executive education programs for practicing managers or entrepreneurs.<br><br>The case elaborates on the tangible and intangible benefits of the two distinct target segments that WhatKnot could serve. The opportunity for the company is to move up the value pyramid. However, the risks are high. The objective of the case is to help students make targeting decisions. The case also lends itself to teaching pragmatic entrepreneurial decision-making. After working through the case and assignment questions, students will be able to do the following:<br><br><ul><li>Conduct environmental and organizational analysis to make target segment choices.</li><li>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.</li><li>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.</li><li>Apply the classic attention, interest, desire, and action (AIDA) model in the context of the two strategic options. (Students could also extend this application to identify how consumers engage at different touchpoints in the context of a given business.)</li></ul>

• Whatknot
• wedding photography
• Mumbai-based
• celebrity weddings
• mid-size clients
• business dilemma
• strategic decision
• market positioning
• target segments
• growth strategy
• porter's model
• financial implications
• forecasting
• aida model
• environmental analysis
• organizational analysis
• entrepreneurship
• marketing management
• executive education
• entrepreneurship
• targeting
• value-volume dilemma
• short-term strategy
• long-term strategy