Jo’s Bridal Boutique Marketing Plan

1. Jo’s Bridal Boutique Marketing Plan Presented by: Jon Gore Marcia Joseph Nancy Poillucci Justin Pontes

2. Introduction • Jo’s Bridal Boutique is located in Union Street, New Bedford. • Sells bridal wear and accessories. • Currently in second year • Having trouble making significant profits • Needs marketing plan • $8,000 budget

3. Wedding Industry • 60 billion dollar a year industry • Unique industry composed of other smaller industries (florists, caterers, photographers, etc.) • Small businesses don’t always break down wedding vs. non-wedding • Most data covers engagement through ceremony

4. Wedding Stats • 2.4 million weddings in 2008 • Median bride age 25, groom 27 • Engagement period 14 months • Average total cost $25,000 • 30% of bride’s parents will pay for total wedding • 32% will pay entire cost • Majority pays some with help of family

5. Wedding Breakdown by Month

6. Recession Proof? • Debate among professionals in industry • Some say “thriving” • Others seeing longer engagements • Making smarter more informed choices • 1% increase from 2006-2008 • 36% spend more than planned

7. Competitive Profile David’s Bridal Carmen Fashions Bridal Salon Jenn and Jill's Bridal Boutique Alexandra’s Bridal Boutique

8. David’s Bridal • Major Chain Store • Household name • Value Selection • More than just dresses • Prom dresses • Tuxedos • Invitations • Not very personal

9. Carmen Fashions Bridal • Seamstress on site for quick alterations • Alterations are included in dress prices • Large variety of designers • One on one service • Does not have the Branding or name of a chain store

10. Jenn & Jill’s Boutique • Family owned • Very personal one on one service • Only show dresses by appointment • Planner assistance available • Very small so selection lacks in comparison to others

11. Alexandra’s Bridal Boutique • Provides all dresses for a wedding • Brides maids • Flower girls • Reputation for stunning alterations • Very small and website needs some work

12. Customer Profile • Consumer Buying Behavior – • Well researched • Looking for wedding of her dreams • Travel in packs • Will not move to next decision until dress is selected

13. S.W.O.T. Analysis • INTERNAL Strengths Weaknesses • No Website • Only bridal wear • and accessories • Little financial • resources • Small size and staff • Excellent one-to-one • service • Local • Accommodations/ • Servicescape • Attention to influencers

14. S.W.O.T. Analysis EXTERNAL Opportunities Threats • Larger chains, with well known name and more resources • Other local boutiques, already established offering similar products and services • Limited population • Large market unaffected by recession • Currently in “wedding season” • Extension of other services (prom’s, cake, limo, etc.)

15. Target Market and Segmentation Geographic – Greater New Bedford Area Demographic – Variables including life/age cycle • Gender: Female • Age: 19 – 40 • Sexuality: Heterosexual • Ethnic Background: White • Income: Annual$14,999 – 90,000

16. Target Market and Segmentation Psychographic – • Part of South Coast community • Looking for neighborhood shop with latest fashion • Look and feel great, regardless of body size or shape Sub Market • Tweens and teens formal occasions • Bride-to-be influencers

17. Positioning Objective – to develop customer loyalty Strategy – Diversification for new and existing customers Key Strategies • Caters to all levels of income • Product packaging position • Easily matches budget with needs and desires • Packaging provides edge against competitors

18. 4 Positioning Bases • Price and Quality Base: Package prices increase with quality of services within • Product User Base: Targeting a younger market encourages return sales • Product Class Base: Create an elegant stress free atmosphere heightens joy • Emotion Base: Building Block to envelope the customer making them feel special

19. Partnered Product and Services • Cakes • Accessories(candles, favors, decorations, jewelry) • Ceremony sites • DJ’s • Invitations • Florists • Function/Reception Hall Options • Limousines • Photographers • Videographers

20. Implementation Plan • $8000 Budget • Website • Paper Ads • Etc.

21. Website • Jo’s currently does not have a website • Going to spend $2500 to have a local web designer create Jo’s a website • This is 31% of our budget

22. Google AdWords • Jo’s will sign up for Google Adwords to further promote the website • Will allot for $5 worth of clicks a day at $.10 a click • This gives a maximum annual total of $1825 • 22.8% of the budget

23. Standard Times • Jo’s will place an ad in the standard times each week • Cost will be $63.50 per week for and annual total of $3,048 • This uses 38% of the budget

24. Postcards, Business cards, & Brochures • Postcards • 5000 post cards will cost $265 and be 3.3% of the budget • Will be handed out at local schools • Business cards & Brochures(other local stores) • 625 cards will cost $50 • 2000 brochures will cost $280 • Both combined will take up 4.4% of the budget

25. Tracking • 5-10% discount on all paper advertising • Printable coupons from the website

26. Conclusion • Interview with local couples confirms our market research • One stop boutique shopping • Jo’s will see increased foot traffic and revenues from print and web advertising • Estimated annual revenues of $648,000 w/ profit of $176,400

27. Questions? Comments?