loveforevergroup2FINALREVISION.docx

loveforevergroup2FINALREVISION.docx

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loveforevergroup2FINALREVISION

EntrepreneurshipSeminar

GroupProject:

LoveForeverWeddingCompany

Group2

Lin-xiuling（Ruby）（Groupleader）

Lin-yaqian（Arche）

Hong-yi（HongYI）

Zhong-yu（Fish）

Lin-zhongyu（AllyLan）

Zhu-weichao（More）

1.0ExecutiveSummary3

2.0SituationAnalysis3

2.1MarketSummary3

2.2SWOTAnalysis5

2.2.1Strength5

2.2.2Weakness6

2.2.3Opportunity6

2.2.4Threats7

2.3CompetitorandCompetition7

2.4Serviceswhichwewilloffer8

2.5Keystosuccess9

2.6CriticalIssues9

2.7Microenvironment10

3.0MarketingStrategy11

3.1Mission11

3.2Objectives11

3.3TargetMarketing12

3.4Positioning14

3.5Marketingmixes15

3.5.1Pricing15

3.5.2Serviceandservicemarketing15

3.5.3MarketingCommunication16

3.6MarketResearch16

4.0Financials,Budgets,andForecasts16

4.1Break-evenAnalysis17

4.2SalesorServiceForecast18

4.3ExpenseForecast19

4.4LinkingSalesandExpensestoStrategy20

4.5ContributionMargin.21

4.6fiscalyear22

4.7balancesheet24

5.0Controls25

5.1ImplementationMilestones25

5.2MarketingOrganization26

5.3ContingencyPlanning27

LoveForeverWeddingCompany

1.0ExecutiveSummary

LoveforeverWeddingCompanyisaweddingplanningcompanythatcatererstolocalclientsgettingmarried.ThecompanyconsistsofagroupofsixinvestorsandwillbebasedinthecentreofTianheDistrictinGuangzhou,China;itwillbegintooperateinJanuaryof2011.LoveforeverWeddingCompanyisuniqueinthatwegiveourclientsourundividedattention.Welistentotheirneedsandworkwiththemtocreatetheeventoftheirdreams.Ourclients'wishesbecomeourcommands.SowhetherourclientwantsaChinese,American,Japaneseoranyfashionweddings,wecanhelp.OurclientsaremainlyresidentsofthecityofGuangzhou,andourmarketfocusonGuangdongProvince.Theywillbefromdifferentdemographicshowevermoretowardtheaffluentsociety.Ourservicesinclude,butnotlimitedto,completeweddingpreparation,ceremony,film&video,reception,honeymoontravelifneeded.

2.0SituationAnalysis

2.1MarketSummary

1.Thereisagreatweddingdemand.

ChineseMinistryofCivilAffairsstatisticsshowthatChinahasnearly10millioncouplesmarriedeveryyear.Thetotalconsumptionin2009wasnearly500billionYuanfrommarriage.

2.Thetotalmarketsupplyofmarriagewasexpandedinrecentyears.AccordingtoChinaWeddingExpo’sresearch,therewere276registrationsofweddingServiceCompanyattheendof2005andatleastdoubledin2006.Sincethefirstweddingcompanywasestablishedin1993,China’sweddingbusinesshasgraduallyincreasedovertheyears.

3.TherearemanyweddingcompaniesinChina,buttheyareallsmall-scale,andtheweddingindustryleaderisnotappearingyet.Accordingtoasurvey,62.9%ofpeoplethinktheirmarriagesneedweddingceremony.Theweddingindustrybusinessissmallbutisgrowingveryfast.Accordingtostatistics,varioustypesofphotographicbusinessesinvolvedinweddingshavegrowntomorethan450,000.Andtherearemorethan6millionemployeesworkinginweddingcompanies.SomeexpertsbelievethatweddingbusinessesinChinaarestillveryweakandscattered.Theindustryleadershavenotyetemerged;thereforetheweddingbusinessremainsafragmentedindustry.

4.Weddingcompaniesdonotoperateinscaleanditsserviceisnarrow.

Weddingindustrymarketisgreat,buthasnotformedtheindustrychain.Andnottomentionthesizeandbrandmanagementservicesofweddingindustry.Besides,thereisacrisisinServicequalityandservicelevel.AnditsnarrowservicesareDifficulttomeetthediversityoffashion,personalservice.

5.Thechangeofsocialattitudemakesagreatimpactonweddingconsumption.

1SincetheconceptofChinesetraditionalfamilygetweakerandweaker,youngpeoplehavegreaterautonomytocontroltheirconsumptiononwedding.

2Maritalqualityandhappinessispeople'spursuit,andtheywantanunforgettableweddingceremony.

3Highfashionmarriageconsumptionleadsthetrend,moreandmorepeoplefocusonthequalityandpersonalizationofwedding.

2.2SWOTAnalysis

2.2.1Strength

1.Ouryoungteam.

Weareallthenewgenerationof80syoung.Wehavealotoffreshideasandhaveabetterunderstandingthananyotherweddingcompanieswedding.

2.Uniqueservice

Wewilldesignyourownpersonalizedweddingceremonyaccordingtoyourdemandandpromiseprovidesauniqueplan.

3.Ourcompetitiveadvantage

Ourserviceispricedcompetitivecomparedtoothercompanies.Sincewesupplyweddingproductsdirectly,ourproductsarenotexpensive.

4.One-shopservice

Weprovideone-shopserviceandhelpcustomersavoidsometroubles.Moreoverone-shopservicehelpsusunderstandcustomersmoredeeplyandprovideagreaterservice.

5.Theweddingindustrygreatopportunityformarketexpansion.WeddingcompanyjusthasashorthistoryinChina,sowecancreatemorethingsaboutit.

6.WewilldevelopandimplementE-commercestrategieswhichwillenhanceourcompetitivestrength.

2.2.2Weakness

1.Welackstart-upcapitalsinceweallarestudents.

2.Whenwecooperatewithothercompaniessuchascarrentalcompaniesandcakeshop,wecannotguaranteethatwecangetthesatisfactoryproduceontime.

3.Weareallnewintheweddingindustryanddon’thaveexperiencehowtocontrolit.Besides,ourphotography,make-upabilityisnotgoodenough.Andwedon’thaveexperiencefordecidingtheprice,findingagencyandpromotion.

4.China'sweddingindustryisstillinitsinfancy,anditsindustrystandardsarepoorandnotwell-developed.

2.2.3Opportunity

1.Marriageablepopulationhasreachedapeak.

AccordingtotheChineseWeddingIndustry,thebiggestbabyboomisinthelate1980s.Andthissectionofbabyboomerswillbemarriedabout2007to2012.Guangzhouisagreatcity,sotherewillhasagreatdemandofweddingservice.

2.ManyChinesepaymuchattentiononweddingceremony.Weddingisthebiggest,mostpopularandmostancienttraditionandcustominChina.MostChinesepeoplestillhavethehabitofgreatcelebrationofthewedding.

3.Thedemandsofnewweddingformshaveupgraded.

Asthedevelopmentofeconomyandtheimprovementofpeople’slivingstandards,peoplewanttheirweddingceremonytobemoreluxurious.Sotheywillspendmoremoneyonwedding.

4.Thechangesofconceptinconsumptionaffecttheweddingconsumption.

Chinesetraditionalweddingactivitiesareverycomplex;youngpeoplehavenotimeandnoenergytoprepareawonderfulwedding.Sotheywillaskweddingcompaniedforhelp.

2.2.4Threats

1.Weddingiscyclical.InChina,mostpeopleliketogetmarriedduringholidays.Itmeansthatwehaveseveraloff-seasonmonths.

2.Customers’demandismoreandmoredifficult,sowearehardtoprovideafullysatisfactorywedding.

3.Therearemore6famouscompaniesinTianheDistrict,Guangzhou.

2.3CompetitorandCompetition

1.XishangxiweddingcompanyisafamousbrandinChina,anditisthememberofChineseWeddingIndustryAssociation.Theysetrestaurants,hotels,studio,travelandotherrelatedresourcesinoneandprovideComprehensive,personalizedandprofessionalservicestonewcouples.Itsheadcompanyconsistsofhumanresources,managementdepartment,financedepartment,trainingdepartmentandsoon.Itsbranchcompanyconsistsofthemarketingdepartment,thedepartmentofweddingplanning,schedulingdepartmentandtheexhibitiondepartment,floraldepartment,thedepartmentofcelebrationetiquette,makeupstudio,photography/videostudio,customerservicedepartment.Itmeanstheyhaveagreatandcompletemanagement.

2.HappyMarriageDayweddingcompanyislocatedinGuangzhouTianheSportsCenter.Theyhaveprofessionalweddingplanners,professionalweddingphotographersandmakeupartists;theyalsohaveastrongfloraldivision.

3.RomanticweddingcompanyhasGoodimage,richstageexperience.Theyhaveweddingprofessionalexperienceandalsohavedifferentprofessionalexperienceandstrengths.

4.Manmoliweddingcompany’smainplannersareengagedinthemedia,hotels,professionaldesign,TVshowandothereventsinplanning,organizationandimplementation.Theyhaveafamousweddingplannerwhohashostedmorethan200largeweddingceremonies.

2.4Serviceswhichwewilloffer

1.Plananddecidethewholeprocessofwedding.

2.Weddingdressdesign,weddingphotographyandmake-upservice.

3.Weddingcakedesignandproduction.

4.Providingacarandcardecoration

5.Helpvenueselectionanddecoration,bandandgoodmasterofceremonies.

6.Recordedwiththewholeprocessofmarriage,produceVCDorDVD.

7.Helptobuyotherweddingsuppliesandweddingfood

8.Supplysometipsaboutweddingforfree.

9.Weprovideallexceptreligiousweddingceremony.

10.Providingweddingconsultancy

2.5Keystosuccess

Thekeystoourcompany’ssuccessareasfollows

1.Serveourclients'needspromptlyandefficiently

2.Maintainexcellentworkingrelationshipswithvendorssuchashairsalons,restaurants,hotelsandbridalshops.

3.MaintainaprofitablecooperationwithDepartmentofCivilAffairs.（give5%ofonetradeasagencyfee）

4.Serveourclientswiththemostcreativeandfeaturedideaineconomicalandpracticalway

5.EffectiveOn-lineservicesystem

6.Effectivemanagement

7.Low-coststrategy

2.6CriticalIssues

1.Marketpenetration:

AlthoughtheChinesemarketislarge,notmanypeoplewillturntotheweddingconsultant,becausetheyregarditasafinancialburdenaddingtotheweddingexpenses.

2.Personnelrecruitment:

AsnotmanyChinesepeopleknowaboutsuchprofession,sonotmanypeoplearefamiliarwithitandtheywon’thavemanycreativeidea.

3.Targetcustom