MARKETING MANAGEMENT

Wedding Planners

SUBMITTED TO:

Pradeep Pandey
SUBMITTED BY:

Samyam Joshi

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.

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

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

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.

1.2 WEDDING PLANNERS We 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 6

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 Make our customer enjoy the occasion with charm and intensity. Create atmosphere and provide service that will remain in the memory of participants for Provide advanced services by continually improving Quality, Management System,
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all botheration of Planning and Execution of various wedding related ceremonies.

a long time. Process and Technology.

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.

Product Our 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 Musicians Decorations/ Florists Catering Party Venue Entertainers Rentals( Transportation, Lighting System, Security Guard) Videographer Photographer Boutiques and Tailors Astrologer/Vaastu(puja kits) Jewelers/Beauticians Others(card printing, dry cleaners, insurance, consultants)

Price 60000 30-50000 100000 and above 80000 and above 10000-20000 30000

15000 15000 15-25000 15000 30000 and above 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. 2. We are first Nepalese professional wedding planners arranging wedding ceremonies. 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. 4. 5. 6. 7. We provide best quality and choice understanding individual need. So, we create an If our customer is full time employee and have no time for planning ceremonies we save Making special moment of our client an unforgettable celebration by providing No two weddings are ever the same, so we definitely will never get bored and work Flexibility while organizing the event is our biggest strength.
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atmosphere and ambience that is warm and individual. their time, money and reduce the stress of planning a wedding. personalized and innovative wedding services. passionately on each wedding.

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 17

1200000

Equity Total

1800000 3000000

4.2 PERFORMA INCOME STATEMENT

Particulars For one wedding Year1 (40Weddings approx) Sales revenue Less: variable cost Contribution margin Less: fixed cost 1000000 500000 500000 40000 40000000 20000000 20000000 500000 19500000

Earning before interest 460000 and tax Less: interest EBT Less :tax 25% Net income 15000 445000 111250 333750

180000 19320000 4830000 1,44,90,000

4.3 FIXED COSTS Rent Salary Others Total 15,000*12 20000*12 1,80,000 2,40,000 80,000 5,00,000

5.4 SOCIAL 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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