Presentation on theme: "The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl."— Presentation transcript:
The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl
Overview Internal Strengths Weakness External Opportunities Market Size / Growth Threats Number of Competitors Quantified, Measurable, Profits
S.W.O.T Strengths More and more couples are looking for a wedding consultant. Saves Bride and Groom time. Offer wedding planning workshops. Financial Advising after marriage. Weakness We are new to the industry.
Opportunities Many couples are wanting an affordable but nice wedding. Weddings in 2006 were 988 in Billings. In Montana 6,365 wedding were held in 2006. If we consulted 40 wedding a year, we would have 4% of the market. Market Targets Men and women between the age of 25-34 is 108,797. The Average age for a man to get married is 28 years old and 26 years old for women. Mothers and fathers of the Bride and Groom.
Threats Competitors Montana Kalispell Romanic Weddings & Celebration Billings Gainan s Bozeman Custom Dining Experiences Paradise Custom Weddings Great Falls Aaladin s Wedding & Party Coordinating Target / Competitors = 108,797 / 13 Market = 8,369 men and women
Product Life Cycle Market growth: a stage of the product life cycle when industry sales grow fast but industry profits rise and then start falling.
Quantified, Measurable, Profits The average cost for a wedding in Montana is $18,970 The average person spends $21,170 on their wedding in Billings. Price: For a small consultation the price is based per hour. $40 per hour If the couple wants little involvement with the planning the price is 15% of the total cost of the wedding. If the average price of a wedding in Billings is $21,170 and we charged 15% commission fee. We would make approximately $3,175 per wedding.
Conclusion Internal Strengths Weakness External Opportunities Market Size / Growth Threats Number of Competitors Quantified, Measurable, Profits
Segmentation Strategy Target Women Ages between 25-34 Middle to High Income In the Billings area Behavior Feel it is necessary to get married in a ceremony with friends and family. Want to share their special day. Psychographics Women are starting their career or at their career peak. Thinking about settling down and starting a family.
Segmentation Strategy Target Men Ages Between 25-34 Middle to High Income In Billings area Behavior Feel it is needed to get married with a ceremony. Share the special day with family and friends. Psychographics Men are usually starting their career or in their peak. Usually ready to settle down and start a family.
Decision Making What is the problem? Clients are busy, overwhelmed, or do not know where to begin to plan his/her wedding. Where can our customers go for information on their problem? Clients can learn information by completing workshops or consultations. They can also find information in brochures, on-line, yellow pages, or word of mouth.
What are the alternatives? The alternatives for consumers if they do not are: Completing workshops, specific consultations, or get help planning the whole ceremony. They will evaluate the alternative by planning their own wedding. Having family and friends help plan the wedding. They can also go to the Justice of Peace. Why will customers pick us: Customers would pick us because we would reduce stress and make sure everything is in order before the ceremony. Evaluate the Decision: Customers would be happy knowing that they have a second opinion and get the advice they need.
Dimensions Demographics Billings and surrounded area Targeting Males and Females, but primarily females in their 20s Middle Class to Upper Class Behavior Customers want Heterogeneous service There are not many wedding coordinators in the Billings area and they want quality service. knowing they will receive special attention. Want to know they will get a Psychographics Want to their wedding day to be perfect. It is their day and they want it to be filled with good memories
Product Means End Chain Product Wedding Consulting/Service Attributes Professional Try to get them the lowest prices Convenient-located on West End
Physical Consequences Beautiful wedding date Will not be worn out from going place to place making sure everything is in order. Psychological Consequences Less stress Relief-knowing everything will get done and be in place Value A time one will remember for the rest of their life. The perfect day.
Perceptual Map DO IT YOURSELF PERSONAL CARE EXPENISVEEXPENISVE AFFORDABLEAFFORDABLE Gainans Stepn Out The Perfect Day Family or Friends
Product Brand Positioning Statement Offer an affordable day filled with joyous memories with your loved ones that will last a lifetime.
Price Objectives: Sales Oriented Growth in Market Share With our affordable prices and great service. More people will want us to organize their wedding and hopefully we can pull in more than our Market Share Strategy Penetration Elite market- not many want an expensive wedding- competition for low prices Competitive Price Flowers Bouquet (Our Price: $25-50, Competitors: $30-50) Corsage (Our Price: $8-25, Competitors: $11.25-38) Boutonnière (Our Price: $5-25, Competitors: $5-30)
Price For a small consultation the price is based per hour. $40 per hour If the couple wants little involvement with the planning the price is 15% of the total cost of the wedding. If the average price of a wedding in Billings is $21,170 and we charged 15% commission fee. We would make approximately $3,175 per wedding.
Place Objective: To reach newly engaged couples by offering a convenient location and high customer service. Strategy: Channel- Direct Make us more aware of our customer needs and attitude changes of our target audience. Customer Service Level: Extensive Make our customers feel as involved or uninvolved as they chose. Gives us as a business, a better idea of what the specific customer needs are.
Place Facility: Mid-sized building with offices. Preferably West-End Possible Location: West End: Off Shiloh or on Broadwater.
Promotion Objective To inform potential customers of our wedding services. Direct Advertising Bridal Conventions Yellow Pages Website