the perfect day presented by: dawn bundy krista roll nicola rath stephanie dahl

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

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

The The Perfect Perfect

DayDayPresented By:Dawn BundyKrista RollNicola Rath

Stephanie Dahl

Page 2: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

OverviewOverview

• Internal Strengths• Weakness• External Opportunities

•Market Size / Growth• Threats

•Number of Competitors• Quantified, Measurable, Profits

Page 3: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

S.W.O.TS.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.

Page 4: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

• 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.

Page 5: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

• 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

Page 6: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

• 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.

Page 7: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

Quantified, Measurable, ProfitsQuantified, 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.

Page 8: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

ConclusionConclusion

• Internal Strengths• Weakness• External Opportunities

• Market Size / Growth

• Threats• Number of Competitors

• Quantified, Measurable, Profits

Page 9: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

Segmentation StrategySegmentation 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.

Page 10: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

Segmentation StrategySegmentation 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.

Page 11: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

Decision MakingDecision 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.

Page 12: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

• 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.

Page 13: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

DimensionsDimensions• 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

Page 14: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

ProductProduct Means End Chain

• Product• Wedding Consulting/Service

• Attributes• Professional• Try to get them the lowest prices• Convenient-located on West End

Page 15: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

• 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.

Page 16: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

Perceptual MapPerceptual Map

DO IT YOURSELF

PERSONAL CARE

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F

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EGainan’s

Step’n Out The Perfect Day

Family or Friends

Page 17: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

ProductProduct

• Brand Positioning Statement• Offer an affordable day filled with joyous

memories with your loved ones that will last a lifetime.

Page 18: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

PricePrice• 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)

Page 19: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

PricePrice

• 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.

Page 20: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

PlacePlace

• 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.

Page 21: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

PlacePlace

• Facility: Mid-sized building with offices.• Preferably West-End

• Possible Location:• West End: Off Shiloh or on Broadwater.

Page 22: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

PromotionPromotion

• Objective• To inform potential customers of our

wedding services.

• Direct Advertising• Bridal Conventions• Yellow Pages• Website

Page 23: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

PromotionPromotion

• Publicity• Referrals• Workshops• Vendors

• Discount• Referring• Seasonal

Page 24: The Perfect Day Presented By: Dawn Bundy Krista Roll Nicola Rath Stephanie Dahl

Sources and ResourcesSources 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