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
•
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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, online, 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
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
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
PERSONAL CARE
A
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Step’n Out
The Perfect Day
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Gainan’s
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Family or Friends
DO IT YOURSELF
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 weddingcompetition 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
Promotion
• Publicity
• Referrals
• Workshops
• Vendors
• Discount
• Referring
• Seasonal
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
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http://www.aweddingministers.com
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http://www.epodunk.com
•
http://sellmoreweddings.com
•
www.gainans.com