Wedding planer swot analysis Essay
Each year thousands of men and women get married. When getting married, couples basically have two main planning options. They can either plan their own wedding or they can hire a professional wedding planner. Our company plan elegant, stylish, glamorous and fun celebrations for sophisticated couples who want first class service and a world-class event. Our company is based in Paris, the most romantic city in the world. Let’s talk now about Strengths: A wedding planner must first identify the strengths of the business before being able to translate these advantages into business growth.
These strengths could be years of experience in the wedding industry, a background in interior design that reinstates into wedding decor set-up, or even a vast network of vendors for clients can choose from. By discerning what comparative advantage your business has in the marketplace, you can begin to develop a strategy that highlights these strengths and conveys them to your target market. Value added wedding planner services is more popular than ever. There are plenty of wedding planners that provide down-market services, so by providing high-end services, we can create a competitive advantage in this marketplace.
Having high quality staff members will allow us to focus our
Need essay sample on "Wedding planer swot analysis"? We will write a custom essay sample specifically for you for only $ 13.90/page
What’s more as Paris is the city of love , we have overtime more and more foreign clients who have decided to celebrate their love here. Wedding planer soot analysis By skibob even videos of marriages we aim at making them wanting to have their marriage organized by us. We also have created an online guestroom where our clients can leave comments on everything and so it can be used to win over potential clients We have to satisfy all of our clients because word of mouth can either build a good reputation or either gives a bad image of our brand. Now about Weaknesses Every business has weaknesses.
By identifying them before your clients do, you can work on minimizing their impact. For a wedding planner, you may determine that you have a smaller staff than other wedding planning companies, or you may have a Geiger price point. These are not necessarily things you need to change in your business model, but being aware of them can help you to craft advertising materials that downplay these potential weaknesses. For example, you could spin “small staff into “personal attention,” which gives the possible weakness a positive connotation for the consumer.
Do not have established reputation in the wedding planning business. We have to face day after day the launch of new businesses in this market; we have to face a tough competition with a large network who can easily sell wedding planner services to their existing network. Given that we provide high-end wedding planner services, couples with tight budgets cannot call on our services too expensive for them. So we lose clients who are getting married. Opportunities Identify areas that your wedding planning business can grow, or the opportunities in the marketplace.
For example, if outdoor weddings are becoming more popular in your area, and you have vast experience in planning these events, an array of outdoor wedding venues you work with, or numerous wedding props suitable for an outdoor event, this could be an opportunity for your business to grow. By identifying n opportunity in the marketplace, you can exploit that opening by gearing your messages towards that target market. Banquet facility managers. Thanks to these strategic relationships we will sustain long term growth.
We can generate positive cash flow after the first several weddings. For a better yield, we can outsource wedding planner services to trusted partners. The price for someone who wants to start up a wedding planner business is about ten thousand euros, so is not very expensive to start this type of business. As a consultant, we do not need to purchase a great deal of inventory or have items in stock to show potential clients. With the approval of same-sex marriage in France since May 2013, there is a fast- growing marketplace that we have to conquer.
Threats Threats differ from weaknesses in that a weakness is generally internal and a threat is external. For example, if there is proprietary wedding planning software that your competition has developed that could help them take away some of your potential clients, that could be viewed as a threat. A do-it-yourself wedding magazine, or a website that helps consumers and potential clients plan their wedding themselves, can also be viewed as a threat to your business. Any outside force that could tangentially minimize your flow of business is considered a threat in your SOOT analysis and must be identified.
Awareness of potential threats can help you to plan for them in your strategy and marketing tactics. We do not have to pay inventory unless our client is paying for it, in this way, we do not waste our money and time. Cheaper prices than us, we will lose a large number of clients. Conclusion: So now as a conclusion we could say that the most important thing is a good network that could help us having every time more influence and so our partners’ reputation could benefit to our brand image and attract clients.
One other point that basically could tip the scale is prices even if our prices are kind of pricey/expensive the key is having exclusive features that distinguish our company from others and making us more competitive than ever, that was for the external part. Now for the internal part the key to success are our staff motivation and our organization that would make up for every problem that could occur and help us to run our business efficiently. What’s more as our staff is directly dealing with clients we have to be sure that they are our company reflection and that they are not harming our brand image.