The first challenge for the consultants of KDH Wedding Consulting Agency is to know what they need to market and how to go about doing this. Knowing the product that is going to be marketed is a large part of this, as it helps the consultants understand who to market it to and how. In this case the product is the perfect wedding or anniversary. The consultants will strive to develop packages that will appeal to even the least traditional of couples.
The consultants have spent a number of years developing the needed skills to meet this goal and will continue to develop the perfect wedding in order to make the agency an indispensable part of every wedding. The consultants will present the product in a way that demonstrates high quality and professionalism. Market The next step is to know the market for the business. The market for this business is couples who are planning weddings or anniversaries and need assistance with the planning. Nearly ? 35 billion are spent every year on weddings and receptions.
The agency primarily markets its services to the people who need them most, brides and grooms. In 1997, 2. 4 million marriages took place in the United States. According to the Encarta Encyclopedia, the current US marriage rate of nine marriages per 1,000 people is still the highest rate among the industrialized countries. This marriage rate is expected to remain at the same level in the near future. In the Eugene, OR area where KDH Wedding Consultants plan to operate their business; over 1,500 marriages are registered each year which creates a sizable market potential for this line of business?
Another customer segment is represented by the numerous family members and guests attending weddings, anniversaries, and similar events. This segment requires event preparation services like gift ideas, etiquette tips, etc. Location, Location, Location KDH Wedding Consultants plan to operate in the Eugene, Oregon area. This area has at least 15,000 weddings in addition to the number of anniversaries celebrated each year in the area. It is a very promising area for the wedding consultant industry. The consultants will get to know the tastes and traditions of the wedding couples in the area.
In the future the consultants will consider reaching outside of the city limits to a larger surrounding area and possibly offering some consulting services over the phone or internet. A large part of the location aspect of the marketing plan centers around the business’s competition (Elliot, 2008). The consultants will research the competition in the area and find ways to make their agency more appealing to the target market than the competition. This will be accomplished by providing quality service, catering to the specific needs of each customer and making a positive appearance in the community.
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