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MARKETING
MANAGEMENT
Wedding Planners
SUBMITTED TO:
Pradeep Pandey
SUBMITTED BY:
Samyam Joshi
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ACKNOWLEDGEMENT
This report needed a lot of work and spirit in order to get to its complete form.
I would also like to express our gratitude towards our course instructor, Mr. Pradeep Pandey,
who has been a continuous source of inspiration for us and for guiding us throughout this report.
We would also like to thank the management of South Asian Institute of Management (S.A.I.M)
I also highly indebted to many other people whose names are not mentioned in this page but
whose constant support has led to the development and completion of this report.
Thank you.
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Table of Contents
1. INTRODUCTION ...................................................................................................... 5
1.1 Background of the Company .......................................................................... 5
1.3 Our Mission .................................................................................................... 7
1.4 Our Goal......................................................................................................... 8
1.5 Typical Nepali wedding consists of the following ceremonies ........................ 8
1.6 Location analysis: .......................................................................................... 9
2 MARKETING STRATEGY .......................................................................................... 10
Product .............................................................................................................. 10
Price ................................................................................................................... 10
Promotion .......................................................................................................... 11
Place .................................................................................................................. 12
People ................................................................................................................ 12
Physical evidence ............................................................................................... 12
Pull strategy ....................................................................................................... 12
3 MARKET SEGMENTATION ....................................................................................... 13
3.1 Market Segments ......................................................................................... 13
3.2 Market needs ............................................................................................... 13
3.3 SWOT Analysis ............................................................................................. 14
3.4 Keys to Success ........................................................................................... 16
3.5 Critical Issues ............................................................................................... 16
3.6 Marketing Objectives ................................................................................... 17
Create brand awareness among customers. ...................................................... 17
3.7 Target market .............................................................................................. 17
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3.8 Positioning ................................................................................................... 17
5. FINANCIAL REQUIREMENTS .................................................................................. 17
4.1 CAPITAL REQUIREMENT ................................................................................ 17
Total 5,00,000 ....................................................... 18
5.4 SOCIAL MEDIA MARKETING .......................................................................... 18
5. CONCLUSION ........................................................................................................ 19
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CHAPTER 1
1. INTRODUCTION
1.1 Background of the Company
Nepalese wedding is more a religious ritual than a social ceremony. That is why; a Nepalese
wedding is full of several traditional rituals and cultural customs being followed from centuries.
It is an elaborate, expensive and emotional event full of sacred religious rituals and customs. For
Nepalese, wedding is a grand affair that includes participation from each and every family
member, relatives and even neighbors.
In Nepal, a wedding calls for a grand feast and loud celebrations (by bursting crackers and
playing music). Nepalese Wedding is not only a nuptial knot between two human beings rather it
is a tie between two families. Once both the party agrees to the relationship, the wedding
preparations begin in a family. Shopping of jewelry, wedding attire, household items and gifts
start in both the families. Booking of venue, arranging caterers, music bands, printing of
invitation cards are also simultaneously done. Several pre-wedding rituals go hand in hand; this
includes Engagement, Swoyambhar, Janti, and many other rituals in general.
Arranging every functions and work by the family themselves is a difficult task. However to
avoid hassle, most of the Nepalese families also want professional wedding planners to arrange
their wedding ceremonies.
We therefore plan to open up wedding planning organization named WEDDING PLANNERS.
We will provide complete wedding ceremony related information, product and services to suit
our customers taste, style, budget & requirements.
We will make all the arrangements regarding a marriage, at a price. We will also take over our
customers tension of making the arrangements for the special day and help them enjoy every
moment of wedding. Planning out everything as per their needs and aspirations, we will turn
their dream into reality.
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1.2 WEDDING PLANNERSWe make your moments special
Wedding Planners Pvt. Ltd. is a full phase wedding planning and coordinating company,
providing services for all the Nepalese people worldwide. As a wedding planner, we provide
services which starts from Matchmaking, Budget Planning, Ceremonies Planning, Receptions,
Honeymoon Planning, answers to etiquette questions, as well as full-service referrals to
Astrologers, Printer, Florists, Beauticians, Caterer, Party Venues, Entertainers, Musicians,
Designers, Hotels, Jewelers, Decorators, Photographer, Videographer, Tailors, Boutiques, Rental
Services, Loans, etc.
Delightful and memorable Nepalese wedding dont just happen, they take thoughtful planning
and careful co-ordination. Wedding Planners will help in developing a vision to make the event
totally unique and remarkable both nationally and internationally. We believe in creating better
than the best and strive for complete satisfaction of our clients. Wedding Planners can ease the
burden of finding and arranging every requirement of the Nepalese wedding, lighten the task of
coordinating the event and most definitely save your time and money.
Wedding Planners primary goal is to ensure that your event reflects the style and image
associated with who you are and what you stand for. Whether this is our clients Matchmaking,
Wedding Ceremonies, Shopping, Entertainment etc. we want every detail to be both pleasurable
and a memorable experience. Therefore we offer a host of packages and services specifically
tailored to the needs of each couple.
.
The Wedding Nepal Team Comprises of:
1. Event Manager
2. Fashion Designer
3. Interior and Exterior Designers
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4. Food and Beverages Manager
5. Jewellery Designers
6. Beauticians
Services offered to the customer
venue selection
decoration, flower arrangements and lighting
catering
photographers and video
choreography, music and entertainment
beautician and stylist
invitation cards
providing assistance in shopping
security agencies
hospitality services
arrangements of priests and puja kits
doctor call in case of emergencies
arrangements of cars, buggy, chartered plane according to the wish of the costumer
wedding registration
arrangements of the guest during their stay
arrangement of special area for the children attending the marriage ceremony
1.3 Our Mission
To specialize in the Wedding Planning & Co-ordination and relieve our customer from
all botheration of Planning and Execution of various wedding related ceremonies.
Make our customer enjoy the occasion with charm and intensity.
Create atmosphere and provide service that will remain in the memory of participants for
a long time.
Provide advanced services by continually improving Quality, Management System,
Process and Technology.
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Expand our business and provide service not only in Kathmandu but also in other major
cities of Nepal.
1.4 Our Goal
To bring each service associated with the concept of a Wedding under one roof.
To provide every conceivable idea related to a typical Function or Event.
To remain flexible to the needs of our clients.
To maintain good business relationships by providing honest and reliable service.
1.5 Typical Nepali wedding consists of the following ceremonies
Swayambar invitation ceremony
Janti procession
Ratauli dance
Barani, Kanyadaan
Yagya puja
Lajahome
Sila Puja
Saptapadi
Sindur
Chandra Darshan
Hridayalamban
Mahur Khuwaune
Grihatilak
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Anmaune
Vitraune and
Chultho Pathi.
1.6 Location analysis:
A wedding day is notably the most important and memorable day of couples entire life.
There are many specific details to be included in planning the perfect day. For planning
and coordination of the wedding, we require two sites:
The official site where pre-wedding arrangements will be carried out,
The wedding site where necessary puja, function, engagement, reception, etc will take
place.
Office location: As a wedding planner we need to assist our customer in setting the
budget, making the schedule securing vendors, selecting themes, choosing flowers,
decorations, invitations, in short everything involved in the wedding. So for consulting,
planning, organizing, budgeting, negotiating and setting all for a beautiful wedding we
need an office site. To set our office, we have planned to rent a flat at Jawlakhel.
Wedding location: we will offer our customer to choose an exquisite wedding venue
offering uncompromising services, facilities, beautiful landscape, gardens, and other
variety that best suits their needs and preferences. Our customer chooses the one they like
the most and finally we contract with the vendor. We provide an excellent venue to make
the wedding a memorable experience.
CHAPTER 2
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2 MARKETING STRATEGY
For marketing plan, having knowledge about the market is very necessary. Information needs
to be gather which will help in identifying the strength, weakness, opportunities and threat of
the organization. Certainly excessive research would be required to carry out the business
activities smoothly. Our marketing plan is focused on proper integration of the marketing
mix: combination of product, price, promotion and distribution. Service marketing comprises
of additional three Ps, they are: - process, people and physical evidence.
ProductOur marketing strategy is focused on satisfying our clients. Marriage is one of the most
important parts of human life, so we would be striving to make this moment a special one as our
motto describes we make your moments special. We will be providing highly customized
services to our customers, which ultimately lead to higher customer satisfaction. We are highly
concerned about providing quality products to our clients. Our business can get the advantage of
early entry in the Nepalese market, which will help us to gain brand value. We will build our
brand by using similar looks and design in our website, business cards, stationary, thank you
cards and prospectus.
Price
For our product pricing we will be following value pricing strategy. The price would be set
according to the customers perception about our service. Customers perception of the product
can be through market research.
Astrologers, Printer, Florists, Beauticians, Caterer, Party Venues, Entertainers, Musicians,
Designers, Hotels, Jewelers, Decorators, Photographer, Videographer, Tailors, Boutiques, Rental
Services, Loans, etc
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Category Price
Musicians 60000
Decorations/ Florists 30-50000
Catering 100000 and above
Party Venue 80000 and above
Entertainers 10000-20000
Rentals( Transportation, Lighting
System, Security Guard)
30000
Videographer 15000
Photographer 15000
Boutiques and Tailors 15-25000
Astrologer/Vaastu(puja kits) 15000
Jewelers/Beauticians 30000 and above
Others(card printing, dry cleaners,
insurance, consultants)
20000 and above
Promotion
By providing quality services, we are seeking to get more customers through the
recommendation of our existing clients. For the promotion of our business, we will be doing
advertising, sales promotion and public relation.
Wedding planning is a new concept in Nepalese market we need to make the people aware about
our business by informing them. We will be using various medias for delivering the message like
print media, visual media, audio media, audio visual media and internet.
We will be launching our own website, where people can know about us, get required
information regarding our services. All the cost details will also be available in our website.
Interested clients can even buy our services by being online.
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To promote favorable attitudes and opinions toward our business and to promote favorable
relationship with employees, government, media, customers, suppliers and community we need
to develop public relations. We will be putting the photos regarding our previous works in our
portfolio and web page to show the people what we have done. If possible we will sponsor the
events like bridal contest etc.
Sales promotion could be one of the effective measures for us to promote our service. We will be
providing discount facilities to our customers, gifts and honeymoon packages.
Place
Direct channel will be followed for selling our services. We will be approaching to our
customer directly rather than depending upon the middle men.
People
For our business we need to hire employees for various purposes so we will be providing
them with proper training and development facilities. It could be either on the job
training or the off the job training.(hiring)
Physical evidence
For our wedding planning business, the furniture we use, the venue we select,
equipments, dishes, trays, decoration all enhances quality to our service. So we will
seriously concentrate in this subject matter.
Pull strategy
We will advertise our services in all leading newspapers, magazines, TV channels, and
radio. We will also put hoarding boards in major city areas. By this we aim to attract
customers by informing them about our company and services offered. By this we hope
that customers will come to us seeking our services
CHAPTER 3
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3 MARKET SEGMENTATION
3.1 Market Segments
Identifying target market is essential part of marketing. For our business we will be focusing in
the niche market. Sure, everyone with enough money can use a wedding planner when they get
married, but if we try to market to everyone, our efforts may turn out to be scattered and
ineffective. The concept of wedding planning has already been adopted in other developed as
well as developing countries.
In todays commercialized world, people are living a very busy life. They hardly have any
leisure time. That is why necessity of wedding planners is increasing. Even in Nepal, the number
of working people in the urban areas is increasing. The trend of organizing marriage ceremony
in hotels and party palaces is increasing. These people have the capacity and are willing to
organize their wedding through the wedding planners. So capturing this segment of people will
be beneficial for us.
In order to make our segmentation more authentic we analyzed the customers on the basis of
geographic and demographic behavior.
Geographic
Our organization is mainly focused towards urban areas like Kathmandu, Pokhara, Patan,
Dhulikhel etc. We have selected Kathmandu District for launching our company. The income
level and standard of living people in these areas in higher in comparison to other areas.
Demographic
Since our company deals with arranging wedding, the age group of people who are eligible for
marriage fall under our demographic segment. Generally the legal age for marriage is 18 years in
Nepal. Therefore people above 18 years are targeted by our company as potential customers.
3.2 Market needs
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Satisfying the customer is not enough, for any firm retaining customer is very important.
Customer retention is one of the challenging jobs. We are always focused on doing something
extra to our customers. We will focus on identifying customer needs and cater their needs
accordingly.
We will not just limit our relation with our customer for a time being. For this we will be
keeping the records of customers and send them flowers and cakes on their anniversary. As an
individual customer each one of us feel that while purchasing noodles any buyer would look for
various attributes in an instant noodles such as
3.3 SWOT Analysis
Identifying the strength, weakness, opportunities and threat of the organization is very essential
for the smooth operation of the business. It helps in gaining the competitive advantage to the
organization.
Strength
1. We are first Nepalese professional wedding planners arranging wedding ceremonies.
2. We coordinate every thing from ceremonies, decorations, wedding cakes, bridal wear,
and hair and make up, mens wear, photography and more that suits budget, time frame and
taste of our customer. So, we take over our customer tension and help them enjoy every
moment of a very special day in their life.
3. We provide best quality and choice understanding individual need. So, we create an
atmosphere and ambience that is warm and individual.
4. If our customer is full time employee and have no time for planning ceremonies we save
their time, money and reduce the stress of planning a wedding.
5. Making special moment of our client an unforgettable celebration by providingpersonalized and innovative wedding services.
6. No two weddings are ever the same, so we definitely will never get bored and work
passionately on each wedding.
7. Flexibility while organizing the event is our biggest strength.
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Weakness
1. Every customer want an exotic wedding arrangement but compromises at cost, managing
expectation of client not exceeding the budget is a challenge.
2. Wedding is such a massive event, so as a wedding planner we have all the stress.
3. We do not have established reputation in wedding planning business.
Opportunity
1. Nepalese weddings are elaborate, expensive, grand, emotional, and
loud celebration. Every body wants the ceremony to be different and remembered by the
participants for a long time. Professional wedding planning could be a big business.
2. In most of the countries hiring a wedding consultant has become a
style statement. The field is growing dramatically on international market. We dont find any
wedding planner in Nepalese market. So, if compared with international scenario, a new
concept wedding planner also could be fastest growing sector in Nepalese market.
3. Today, with families getting busy and having full-time job
responsibilities there simply isn't sufficient time to plan about the entire wedding
ceremonies. So, they would prefer an independent third party to organize it for them.
4. First mover benefits can be gained.
Threat
1. Being first wedding planner, we dont have access to historical customer data. We have
no knowledge if the target market will respond to us as expected.
2. A wedding is a very special moment that takes place once in a life time A major concern
clients may have is that anyone can call themselves a wedding planner, so how do they know
we are serious and can be trusted with their wedding plans? Earning the trust and confidence
of prospective clients can be difficult initially.
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3.4 Keys to Success
The keys to success for Wedding Planners are:
1) Establishing clear brand identity in the wedding organizing industry.
2) Clear identification of the target market and seeking first mover advantage in unexplored
markets.
3) Identification of the best communication strategy.
During peak season we will be planning two weddings in a week, so that we can provide quality
service to our customers with our full dedication to make their moments really special with us.
Initially we need to really work hard to convince people to let us plan their wedding. We would
be directly selling our services to the customers. We will be gathering information from various
sources like our relatives, friends or neighbors regarding if anyone is getting married. For this we
need to keep both our eyes and ears open. Then by meeting those people we can carry forward
our work.
Through our adverse investment in advertising, promotion and exhibition, we will certainly be
getting a wedding to plan.
3.5 Critical Issues
As a new entrant in the wedding organizing industry, our company needs to concentrate on
various critical issues:
Establish itself as a premier wedding organizing brand.
Formulation of a successful strategy to ensure the expenses would not exceed its revenue
base even in early stage of product growth cycle.
The rapid growth strategy of the brand should not affect the level of customer
satisfaction.
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3.6 Marketing Objectives
Create brand awareness among customers.
Increase its market share to 30% in the industry within 1 year of launch.
Positioning Wedding Planners as a company which can deal with everything related to
Nepalese weddings.
3.7 Target market
Our target market consists of people within the legal age of marriage i.e. 18 years and above. We
are focusing mostly in urban areas. Thus the people of Kathmandu, Bhaktapur, Patan, Pokhara
etc are our target customers.
3.8 Positioning
We are positioning our product in the market against the competitors as PartyNepal, Red Carpet
Nepal. We aim to capture customers through quick service. Our company also aims to establish
as a dependable brand in the market.
CHAPTER 4
5. FINANCIAL REQUIREMENTS
4.1 CAPITAL REQUIREMENT
Debt 1200000
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Equity 1800000
Total 3000000
4.2 PERFORMA INCOME STATEMENT
Particulars For one wedding Year1
(40Weddings approx)
Sales revenue 1000000 40000000
Less: variable cost 500000 20000000
Contribution margin 500000 20000000
Less: fixed cost 40000 500000
Earning before interest
and tax
460000 19500000
Less: interest 15000 180000
EBT 445000 19320000
Less :tax 25% 111250 4830000
Net income 333750 1,44,90,000
4.3 FIXED COSTS
Rent 15,000*12 1,80,000
Salary 20000*12 2,40,000
Others 80,000
Total 5,00,000
5.4SOCIAL MEDIA MARKETING
As an important part of the companys promotional campaign, it plans to make the most
innovative use of digital and social media. These marketing activities would be focused to make
an impact about how consumers feel about the brand, not just what they know about it. The ever
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growing popularity of social networking sites like Facebook, Hi5, and Myspace among the urban
population certainly provides with wide range of opportunities. These marketing activities would
be made a part of the life of the consumers, from home to the store where they finally make a
purchase.
We will firstly start our social media marketing campaign in Facebook. A Wedding Planners
fan page would be created that would have information regarding the services offered and would
also have a link to the companys website. The official quiz page would also include some fun
computer games for the brides and grooms to be.
5. CONCLUSION
Wedding is probably one of the most memorable moments of peoples lives. As a wedding
planning company we aim to do our very best and satisfy customers so that they can make their
wedding day more special.
We, Wedding Planners, have sincere objective to make our Clients wedding as Beautiful as
possible and as convenient and Stress-free as possible for them and as for us it would be our
Grand Success to make it happen. That is why; we put our best foot forward in making our
clients wedding dream come true.
Therefore, we proceed our wedding planning by consulting with our client to know them
personally their thoughts and their dream of how would they want their wedding to happen with
their estimated budget and how many friends, family and relatives they wish to invite at their
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wedding, where would they think be the proper venue for their wedding etc. Consultation with
our client will help us envision for their perfect wedding day.
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