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Baylor Balloons and Flowers. Background Information.

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Presentation on theme: "Baylor Balloons and Flowers. Background Information."— Presentation transcript:

1 Baylor Balloons and Flowers

2 Background Information

3 History Originally established on Speight Avenue/11 th St. Acquired by Kathy Dove in 2000 Moved to Bagby Ave./4 th Street Hours: M-F 9 a.m. to p.m. Sat 9 a.m. to 12 p.m. Closed Sunday

4 Scope & Purpose Meet unsatisfied niche of student population Mission statement: To provide quality, beautiful floral arrangements to members of the Baylor and Waco community. Also offers other merchandise that complement floral purchases. 100% satisfaction guarantee on all floral and gift items.

5 Major Products and Services Offered Cut flowers Floral arrangements Potted plants Helium latex/Mylar balloons Gourmet fruit baskets Plush animals Candles Sorority paraphernalia Chocolate truffles Delivery service

6 Retail Establishment Layout Main cut flower displays Refrigerated cooler Merchandise displays Payment counter Design area Consultation area

7 Managerial Structure Owner Designers Student Employees Delivery

8 Customer Environment

9 Target Markets Baylor Students  Most homogeneous group Baylor Faculty Parents of Baylor Students

10 About the Purchase Two ways to purchase  In Store  Online Primary use  Gifts  Decoration

11 Trends Internet  Social Media  Increase interaction with customers  Easy and free  Online ordering  Increase retail range  Customers see products

12 Contact With Customers Social Media  Interaction via Facebook  Daily & Weekly promotions CRM  Gather information from online sales  In store

13 Competitive Analysis

14 Major Competitors Other Florists in Waco Grocery Stores Online Flower Shops

15 Waco Florists Competition based on history and internet presence  Baylor Flowers, 35 years  Reeds, 80 years  Croziers, 50 years  Rosetree, 20 years  Bloomingals, 8 years Specialized arrangements, typically more expensive

16 Grocery Stores Simpler, less expensive arrangements that customers must put together themselves  HEB  Wal-Mart  Target Not always the high quality that can be provided by a florist No internet presence

17 Online Florists Similar arrangement styles and pricing as brick- and-mortar stores  1 (800) Flowers  ProFlowers  FTD  TeleFlora Allows customers to order anytime and provides an easy, efficient system Cuts down on human error in information input

18 Market Position  ProFlower s Inexpensive Expensive Specialized Generic  Reeds  Croziers  Rosetree  Bloomingals  Wal-Mart  Target  HEB  FTD  Baylor Flowers  1 (800) Flowers

19 Market Position Similarly placed with other Waco florists and online ventures More expensive than a supermarket Overall position is positively placed among competitors

20 External Environment

21 Economic Stability Floral industry as a whole falling by approximately 3.6% yearly for the past 5 years  Threats by supermarkets and online ventures  Diminishing disposable income due to economic recession and cutting spending on non-necessities Florists cutting prices by up to 70%, creating a ripple effect on loss of revenue Need to keep up with change in technology and stay price sensitive to stay in operation

22 Political Issues International tariffs with Colombia, who holds 65% of imported flower market, and Ecuador  US/Colombia FTA signed April 2011 will phase out tariffs over next 10 years National Floriculture and Nursery Research Initiative  $6.25 million per year  Improve product quality and enhance competitiveness  Improve crop production tools  Provide protection against pests and diseases  Promote environmental stewardship

23 Legal Issues National Antitrust laws Americans With Disabilities Act Taxes & transport fees

24 Regulatory Issues Quarantine 37  Targets horticulture and livestock that could bring invasive diseases and pests at port  Florists must deal with reputable growers to insure they get the supplies they need

25 SWOT Analysis STRENGTHS - Name -Location -Quality -History -Sponsor of Baylor Athletics WEAKNESSES -Advertising -Lack of Baylor Directory -Small Market -Grandfather Clause OPPORTUNITIES -Social Media -Online Presence -Unified Appearance -US/Colombia FTA THREATS -Loyalty to Other Florists -Online Retailers -Grocery Stores -Reliance on Disposable Income SWOT Analysis

26 Strengths Name with “Baylor” in it  Provides affiliation with school Location  In “Baylor Bubble” furthering school connection Quality History  In business for 35 years with a solid reputation Sponsor of Baylor Athletics

27 Weaknesses Advertising  No strong, effective advertising campaign to draw in new customers Lack of Baylor Directory  Hard to target parents with direct mail Small Market  Strong competition from local florists Grandfather Clause  Forced to keep “Balloons” in name which could convey the idea of lower quality service

28 Opportunities Social Media  Reach largest target market, students, more successfully  More options than traditional advertising Online Presence Unified Appearance  Current logos not cohesive US/Colombia FTA  Pass tariffs on to customers

29 Threats Loyalty to Other Florists  Many historical florists in Waco that clients have stronger loyalties to  Florals are a relationship business Online Retailers  Pricing and convenience Grocery Stores Reliance on Disposable Income  Cannot control economy but can price to continue to attract customers

30 Major Marketing Issues

31 Product Mix Wide range of products, not just flowers Website increases variety of flowers carried Offers inexpensive and highly priced flowers

32 Advertising Difficulty marketing to students and faculty Heavy advertising during Homecoming and Parents Weekend Lack of uniformity in advertisements

33 Research Needed Facebook statistics Twitter statistics Web site statistics Market research

34 Recommended Changes Word of mouth campaign by Utilizing Facebook and Twitter more efficiently Reach students and faculty more aggressively Create homogeneous advertisements Handcuffed by lack of funding

35 Priority of Issues Confronting the Company

36 Company Name One of few with “Baylor” in title Remove “Balloons” Make name simply: “Baylor Flowers”

37 Technology Company website Established Facebook account In process of setting up Twitter account

38 Action Areas and Solutions

39 Product Issues Products vary all the time Need to have staple products

40 Pricing Issues No set prices Based on shipping costs and tariffs Be more “student-friendly”

41 Advertising and Promotion Issues No access to Baylor students’ home addresses For online purchases, suggest e-mail list Facebook, Twitter The Lariat, Waco Tribune- Herald

42 Specific Promotion and Marketing Strategies Facebook  Increase number of fans  Utilize page to dost daily deals and specials  Post pictures Twitter  Updated more frequently than Facebook  Daily deals  Trivia questions  Retweets Lariat  Advertisement  Coupon Thursday Direct e-mail  Newsletter  Promotions  Reminders

43 Ad Concepts – New Logo & Print Ad

44 Ad Concepts - Newsletter

45 Promotional Strategy for Each Segment Social Media  Students Print Media  Students & Faculty Customer Database  Parents New Logo  All Segments

46 Goals and Expectations Higher in-store traffic Larger promotions Increase orders by 10% for next year

47 Questions?


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