One of the very most significant days and nights in someone's life is her big day! To ensure that such a momentous event will go off with out a hitch, appropriate planning is required. And when it comes to wedding ceremony planning, picking one's partner may be the easiest of all the planning decisions to make. Calendar months will be spent prior to the wedding researching distributors, evaluating products and prices, ending up in photographers, hotel managers, and many more wedding sellers to regulate how to save costs on each wedding item (Hammond, 2007). "The absence of a clearly identified project plan consistently shows up as the major reason behind task failures, " (Gray & Lawson, 2005, p. 118). Lacking any execution plan that outlines finances, how important duties should be structured, and what the contingencies are in the event that something goes awry, could bring about what should be one of the happiest times of someone's life turning into a complete devastation. "The success of all of your day will depend on your ability to organize, plan, and budget, " (Hammond, 2007, para. 1).
The stakeholders in a marriage task are numerous. By natural means the groom and bride are the biggest stakeholders. But also one of them set of stakeholders will be the bride and groom's family, users of the marriage party (maid of honor, bridesmaid, best man, and groomsmen), wedding guests, wedding sellers (florist, music artists, caterer, cake manufacturer, clothiers, venue directors), and the officiate. Further, an effective wedding requires the orchestration of many moving parts and the option of many resources including people, skills, equipment, materials, and working capital.
Research demonstrates the average couple in Beirut, Lebanon will spend $20, 940 on a typical wedding. This budget will not include cost for a honeymoon, gemstone, bridal expert, or wedding planner. A wedding budget is completely essential to planning for a wedding and in simple fact should be one of the very first things a marrying couple should do, (Callaway, 2007). Further, a typical wedding takes weeks to plan. You will discover plans to make, reservations to secure, what to order, and logistics to work through. Our happy few may be prepared to pay just a little more for his or her particular wedding since this couple would like to get married at the earliest opportunity; doing so should come at a cost. Often, expediting key activities in just a project brings about increased expense of the job, (Gray & Lawson, 2005).
Because the few has a combined income of $60, 000 per year, a top-down approach will be utilized for budgeting. Rather than deciding the budget by breaking down the wedding into the individual the different parts of the wedding task and summing them along to reach at the couple's budget, instead a given budget will be divided on the various activities of the marriage. This will provide to drive enough time and performance components of the wedding task. Further, this process will provide a negotiating point to work within when bidding out the average person activities associate with this task.
Budgeting about $100 per wedding visitor should give a good start concerning how many people the few can afford to ask and stay within their budget, (Callaway, 2007). This should be split around $50 a head for catering, and the remaining $50 towards the rest - flowers, clothes, venues, wedding mementos, decor, etc. This might not leave enough money to pay for everything that is needed but it will serve as a reasonable baseline. The general guideline would be that the more guests that can be found, a lot more formal and lavish the wedding can be, (Callaway, 2007).
Before getting too much in to the wedding plan, one would want to determine a time for the wedding. Most of the major decisions that will need to be made out of this point will be contingent on the wedding date. Choosing the right date for your wedding also requires more than deciding on a date randomly. "Most couples choose the spring and summer months over the semester and winter months because of the warmer weather, " (Erickson, 2007, p. 11). Some lovers also have a holiday preference and look forward to engaged and getting married on ROMANTIC DAYS CELEBRATION or even Halloween, (Erickson, 2007).
When identifying time scope, it might be helpful to get started on with the last activity, in cases like this the wedding day itself, and work backwards towards the beginning of the job. The logical series of tasks will be organized by identifying what must be completed immediately before each successive task. Once the task network has been laid out, you need to check frontward by confirming that each activity is the only real activity necessary immediately before starting the next activity.
After reviewing these discussed factors because of this task, the performance opportunity of this task is to provide a top quality, custom wedding for the Bridegroom and Bride next 6 months at a cost not to surpass $25, 000. This wedding is to include 150 guests, a marriage get together of 10, a pre-wedding nights rehearsal dinner, and a reception at a spot to be driven after last budget evaluation.
Wedding Miracles is a complete service company which offers complete assessment services for marriages & every other strange event. Our assessment has experience & dedicated professionals with numerous years of event planning experience. WONDERS is exclusive in that we give our customers our undivided awareness. We are aware of their needs & work with them to generate the event of the dreams. Our customers' hopes come out t be our orders. So whether our customer demands a American, Tropical, NEVADA or even more traditional wedding, we can assist. Our services comprise marriages, honeymoons, receptions, wedding anniversary consultations, budget planning, answers to etiquette questions, as well as entertainers, music artists, full-service florists, wild hair stylists, etc. We also provide you with the inventions & "many thanks" cards
Wedding is a dream, wedding can be an experience and wedding is also a trouble for newlyweds. Luckily for us, with the help of the marriage service companies, new couples are having the ability to enjoy the entire process without difficult bagatelles. Here, we wish to define the marriage service companies clearly: They are really companies who offer wedding ceremony services. There are also some wedding related companies such as honeymoon trip company and the picture taking studio, however, in this statement we will only discus the marriage service industry in a member of family smaller conceptual construction and analyze the marketplace qualifications, service components, service problems and future development of the industry.
Whether this is our customer's first wedding, a revitalization with their vows or their anniversary, we want each detail of these event to be both a agreeable & a memorable experience. With our full service the client doesn't have to stress on having everything done, we do everything for them. Therefore we supply a host of services entirely tailored to the desires of each couple.
At Miracles our mission is to maintain our customers satisfied! Party's could be very distressing & time consuming; we're here to have the heaviness of the customer so they could spend extra free time with family. We listen to their needs & work with them to create the event of these dreams. Our customer's needs turn out to be our instructions. We're certain that that business enterprise would be an success.
Keys to Success
Service our customers' needs rapidly & efficiently.
Preserve excellent working human relationships with sellers such as music artists, locks salons & bridal shops.
Preserve a specialist image all the time. net gain would increase more than 10% by the next year.
Wedding Magic is a start-up company that provides wedding, reunions, & wedding anniversary consulting services to brides, grooms & other members of the family. We are a full-service bridal consulting group & our goal is to place the fun back into planning a wedding, birthday or wedding anniversary party. Too many people become excessively pressured & frustrated when planning these wonderful occurrences. Our company is experienced & professional discussion & would use our knowledge to help create memorable & stress free happenings for our customers. Using this method, our customers can relax & enjoy their event. The effect? We create incidents suited to the couple's unique style--a true expression of their romance & individuality as one or two.
This business would begin as a simple proprietorship, had by its founders, Christian Dior, & Giovanna Versace. As the procedure grows, the proprietors would consider re-registering as a restricted liability company or as a organization, whichever would better suite the near future business needs.
2. 2 Start-up Summary
The company founders, Religious Dior, & Giovanna Versace, would deal with day-to-day procedures of the plan & would work collaboratively to ensure that business enterprise is successful. We estimate that our start-up costs would be $3, 000 (including legal costs, company logo, advertising, direct mail, & related bills). An additional $5, 000 would be required in the lender bank account as an operating capital for the first 8 weeks of operation. The start-up costs should be financed in identical servings by the proprietors personal cash (i. e. , Religious Dior, & Giovanna Versace are spending $4, 000 each).
Company Locations & Facilities
Initially this might be a home-based business; however, by 2005, we intend to exp& our facilities into a well-equipped & functional office in Beirut.
We are a full-service wedding consultant group & provide the pursuing services: etiquette advice, event scheduling, discounted invites & products, merchant verification, rehearsal attendance, supervision of both service & reception set up & budget planning.
Market Research Summary
Nearly $35 billion are put in annually on wedding ceremonies & receptions. Therefore, professional wedding appointment are a product, not really a calamity. Wedding Wonders are full-service wedding appointment that give a variety of services to your customers. We pride ourselves on being professional & courteous all the time & we'd packages to match everyone's needs. As recently stated, marriage is a billion dollars industry, therefore, just about everyone we meet is a potential customer. However, we usually advertise to brides, grooms, & members of the family.
4. 1 Market Segmentation
Although the flash & thrills of impending nuptials can be intoxicating, it can also be overwhelming. Therefore, we mostly market our services to the people who need them most--brides & grooms. In 1997, 2. 4 million marriages took place in america. In the administrative centre OR area where Miracles Wedding Consultant's plans to use their business, The full total marriages in 2008 are 39, 758, which creates a big market potential for this occupation. Another customer segment is displayed by the numerous members of the family & guests joining wedding ceremonies, anniversaries, & similar occurrences. This portion requires event prep services like gift ideas, etiquette tips, etc. Aside from the wedding arrangements, which Wedding Wonders imagine to be their major customer assignments, other events the business would provide services to include corporate retreats, etiquette training, etc. This customer portion is approximated to acquired the annual volume of 1, 000 purchases in the Beirut area.
4. 2 Target Market Segment Strategy
According to Jinma wedding ceremony company, yr 2005 is a negative time for both wedding couples and wedding companies, because because of the Lebanese politics instability. So the business volume level is quite low this year and all the marriage service firms are facing a more fierce competition. Therefore the pricing battle is inevitable in that market situation and the margin will be trim to a lower level.
To get rid off the rates war and keep a comparatively high revenue level, the simplest way is to identify the service and position the business in a distinctive way. Based on the Hotelling model, if the wedding service company can provide more exclusive service, it will gain more coverage from the purchase price impact of other companies.
On the other side, customers may also be segmented into different submarkets. For example, some prefer traditional western style wedding while some like to execute the marriage process in a Lebanese traditional way; some favor grass garden wedding ceremony while others like to take it inside house; some choose an extravagance and glorious marriage party without even thinking about the cost while others like to follow a high value-cost ratio inexpensive way. Therefore the job of marriage ceremony companies are to deliver different consumers with the service selection they are looking for, and as an expert in a few kind of service will surely draw in more customers from the relevant marketing segments.
Actually, many wedding ceremony businesses are doing the segmentation now. Some big companies are providing high quality-high price services while small organizations are more centered on some low-income customers. And one firm called "Excess" is now the best provider for outdoor marriage ceremony. So this trend will still go on in the foreseeable future and there will be more and more special wedding companies on the market.
Strategy & Execution Summary
Our strategy is simple: we intend to provide our customers with a variety of services custom personalized to their specific needs. Therefore, if they need a complete package, or just consulting on a specific service, we can help.
5. 1 Competitive Edge
By aggregating an entire selection of wedding services under one roof structure, Wedding Miracles would offer its customers the ease of one-stop shopping. The business would leverage its proprietors' experience in planning such events to competitively position itself as a premier service provider of wedding services. Both proprietors experienced very strong communication skills that would help develop the 'hype' about the superior quality of the services offered by Magic Wedding Discussion.
5. 2 Sales Strategy
The company's sales Advertising in the Yellow strategy would be based on the following elements: Webpages - two inch by three-inch advertising describing the assistance would be placed in the Placing advertisements in the local press, including The local Yellow Pages. Expanding the up & coming & local r / c, affiliate relationships with other providers (musicians, locks stylists, -caterers) that would receive a ratio of sales to the referred customers. Word of mouth referrals - producing sales leads in the neighborhood community through customer recommendations.
Our wedding consultation are Christian Dior & Giovanna Versace. Collaboratively they had organized & serviced over 50 wedding ceremonies, receptions & happenings. They are knowledgeable about all areas of planning, designing, as well as budgeting. Religious has been involved in arts & crafts, sales, & event planning for 25 years. She became enthusiastic about providing expert services when she effectively planned her first five marriages for family & friends. Giovanna is getting here Degree in Business, &, like Christian, she became enthusiastic about becoming a specialist when she successfully designed her first three weddings. Giovanna likes all aspects of planning traditional & nontraditional weddings.
1. Customer support. Operating by its mission statement is usually to be the local's most valued wedding planner, Miracles focused greatly on customer service. New labours complete 6 to 8 eight weeks of training in knowledge, skills, & product training. They shall in addition forward a written test before they're allowed to experience clients. Once in the field, sales reps work for 2 years to complete an accurate certification procedure. Regarding to Giovanna, the task helped the business uphold its only traditions & culture.
2. Unique quality. WONDERS as well placed extreme value on the excellence of its services, watching every part of the Miracles experience. WONDERS centered on the ultimate, & frequently neglected, part of service setting: providing clienteles something symbolizing WONDERS quality, commitment, persistence, esteem, & reputation long after they have walked from the consultancy.
3. Recognition. As one of the Lebanese's most recognizable brand icons, WONDERS took most of its blue box's mechanism.
1. Brand positioning problem: WONDERS is put as luxury brand, for people with superior income. Exactly the same positioning problem may appear in Lebanon. To be able to prevent the corporation should inform Lebanon populating about their prices through advertizing, PR & alternative activities.
1. Currently isn't widely provided: All around the Lebanon there is only one WONDERS store, located in Beirut. This store is a franchise. Range is not great, & metallic products care definitely not presented. Also very poor assortment of yellow gold.
2. Integration in lower priced segments: WONDERS adopts new strategy, to be able to attract clients. Appearance of 100$ & below items in Magic services lit would get new customers, for whom brand name is important.
1. Logistics problems: Miracles is Lebanese company & products should be transported from Lebanon. Logistica franchise transports goods from Lebanon. However, because of big distance orders will come not with time, or breakage rate may be superior. Also during travel goods may be taken.
2. Risk of cheap services: In Lebanon patents & copyrights are almost not important, so in case of good campaign & increased brand recognition encounters from China could be easily broad to the marketplace & brand reputation would be damaged
3. Luxury specific niche market is under risk of turmoil: Nowadays financial meltdown is on the optimum & people have problems with insufficient money, so they might rather prefer to save money than to invest them on luxury goods
4. Low brand consciousness: Besides WONDERS is extremely popular in the west in Lebanon brand understanding is suprisingly low, & a whole lot of money should be spend for advertising
Wedding consultant is based on the customer needs for information. As we have concluded before, there is absolutely no objective evaluating system in the marriage service industry now. The info asymmetry between customers and marriage ceremony company is significant, which includes thrown customers into a drawback situation. Also, they are perplexed by the in depth procedure for wedding, and in the wedding month, you will see so many things to be achieved and for an unprofessional person it is quite normal to find himself lost in these trivial things.
So the clients want some organization to give them some important advices like the service aspect of the wedding ceremony, the analysis of all wedding service companies and an inventory or list of things she or he should notice. There will also be some legal problems climb from the marriage process like the house purchase and the out-bound procedure if the couples arrange an out-bound honeymoon trip. The marriage consulting organization can help the customers to handle these works. The consulting should done by some third party to keep the credibility of the consulting service high and wedding guild is a possible choice.
Couples often perfect for years what the perfect big day will be like. Unfortunately, when enough time finally happens, many realize that a wedding must be limited by budget, time, resources, and the execution of those who are relied to carry it through. However, one can still have the perfect day to remember and remembrances to enjoy through detailed planning and keeping within the original budget that is set forth. Utilizing a disciplined, structured way for selectively collecting information to use throughout all phases of the marriage project and also to meet up with the needs of all the wedding stakeholders provides the most successful and stunning wedding day ever.
To sum up, wedding industry has just experienced a flourishing period and can be on the fast line in the next years. The unrepeatablity of the wedding demands the service agency to deliver perfect service. This is why there is a high complain rate in this industry, however, the claims of customers are much less than 5 years ago due to maturing of the wedding service companies. Along with the increasing of industry regulation and evaluation criterion, the wedding service industry will surely get more business quantity and total client satisfaction.
We write the survey according to our interview and used information, making the report a more qualitative one. And further quantitative research can be executed according to the report in the future.
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