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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

    3

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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

    4

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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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    http://www.futurelab.net/blogs/marketing-strategy-innovation/2009/09/challenges_fmcg_brands_social_.htmlhttp://www.futurelab.net/blogs/marketing-strategy-innovation/2009/09/challenges_fmcg_brands_social_.htmlhttp://www.futurelab.net/blogs/marketing-strategy-innovation/2009/09/challenges_fmcg_brands_social_.html
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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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