1 / 24

The Perfect Day

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

hetal
Download Presentation

The Perfect Day

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

  2. Overview • Internal Strengths • Weakness • External Opportunities • Market Size / Growth • Threats • Number of Competitors • Quantified, Measurable, Profits

  3. 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.

  4. 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.

  5. 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

  6. 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.

  7. 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.

  8. Conclusion • Internal Strengths • Weakness • External Opportunities • Market Size / Growth • Threats • Number of Competitors • Quantified, Measurable, Profits

  9. 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.

  10. 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.

  11. 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.

  12. 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.

  13. Dimensions • Demographics • Billings and surrounded area • Targeting Males and Females, but primarily females in their 20’s • 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

  14. Product Means End Chain • Product • Wedding Consulting/Service • Attributes • Professional • Try to get them the lowest prices • Convenient-located on West End

  15. 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.

  16. Perceptual Map PERSONAL CARE A F F O R D A B L E E X P E N I S V E The Perfect Day Step’n Out Gainan’s Family or Friends DO IT YOURSELF

  17. Product • Brand Positioning Statement • Offer an affordable day filled with joyous memories with your loved ones that will last a lifetime.

  18. 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)

  19. 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.

  20. 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.

  21. Place • Facility: Mid-sized building with offices. • Preferably West-End • Possible Location: • West End: Off Shiloh or on Broadwater.

  22. Promotion • Objective • To inform potential customers of our wedding services. • Direct Advertising • Bridal Conventions • Yellow Pages • Website

  23. Promotion • Publicity • Referrals • Workshops • Vendors • Discount • Referring • Seasonal

  24. Sources and Resources • http://factfinder.census.gov/servlet/ADPTable?_bm=y&-qr_name=ACS_2005_EST_G00_DP2&-geo_id=04000US30&-ds_name=&-redoLog=false • http://www.oneweb.com • http://www.aweddingministers.com • http://www.epodunk.com • http://sellmoreweddings.com • www.gainans.com

More Related