SWOT Analysis of Wedding Barn

The given document is an assignment that requires a comprehensive SWOT analysis of a wedding barn. The task involves identifying the strength, weakness, opportunity, and threat (SWOT) factors affecting the business. It also necessitates examining the impact of customer referrals on the business's success and understanding the effects of seasonal demands on the wedding industry. A thorough analysis is required to provide insights into the current state of the wedding barn and its potential for growth or improvement.

Running head: INTRODUCTION TO MARKETING
INTRODUCTION TO MARKETING
Name of the Student
Name of the University
Authors Note

1INTRODUCTION TO MARKETING
Executive Summary
The report highlights the market analysis of wedding business in Canberra region.
Through the report market analysis for the business is done that involves the profitability and
turnover for the business. Moreover, the company analysis is done to know the goals and
objectives, mission and service quality. Environmental analysis is also ascertained and
furthermore, PESTEL and SWOT analysis is also done to ascertain the effectiveness of wedding
business in Canberra.

2INTRODUCTION TO MARKETING
Table of Contents
Market analysis:...............................................................................................................................3
Company analysis:...........................................................................................................................4
PESTEL Analysis:...........................................................................................................................5
Competitors analysis........................................................................................................................7
SWOT Analysis:..............................................................................................................................8
References:......................................................................................................................................9

3INTRODUCTION TO MARKETING
Market analysis:
Wedding barn by Delilah and Monica is a start- up business plan to be initiated in the
Canberra region. The mission of the business is to provide a complete package for weddings and
anniversaries. Delilah is experienced in organizing large function while Monica is a target chef.
According to the wish of their customers, both of them could provide Tropical, Western or more
traditional kind of wedding parties. The services also consist of catering, entertainers,
hairstylists, musician, honeymoons package, florists and budget planning (Hoye & Johnson,
2016). The main objective of setting the weeding barn is to provide both a pleasurable and
memorable experiences to their clients.
The total average cost of a wedding is above $30,000. Maximum cost is spent on the
venue and other cost includes catering, entertainment, car services, florists and musicians
(Warnick, Bojanic & Xu, 2015). The large barn is sufficient for arranging the wedding ceremony
in the Canberra area. This further saves the high costs related to the wedding business.
Around $35 billion are spent each year on the receptions and wedding throughout
Australia (ABC News., 2018). In the recent times professional wedding planners have become a
commodity rather than calamity. In Canberra region, every individual is also a potential client
therefore it is vital to advertize to family members, grooms and brides. The number of marriage
has increased by 4.2% in the year 2016.
Market segmentation
Marriage is a billion dollar industry in Australia and the marriage rate is still being to
remain same in the near future. In Canberra, where Wedding Barn is planned to operate their

4INTRODUCTION TO MARKETING
business, around 1500 marriages are registered each year. This generates a profitable sized
market for this business line. Customer segment is represented by various family members as
well as guests attending the wedding ceremony (Green & Henseke 2016). This segment needs
efficient event preparation by providing services like etiquette tips and gift ideas.
Target market
Wedding Barn will target mostly the brides and groom as most services will be provided
to them along with the other family members. The organization will always position itself to an
experienced provider of the services of wedding planning. Unlike their competitors, Monica and
Delilah aim to provide the convenience for one-stop shopping for their clients. This will greatly
reduce the time of the customers as well as efforts for their life’s most important event.
Company analysis:
The business of Wedding Barn would start- out as a proprietorship, which is owned by
both Monica and Delilah. As the operational activities of the business will grow, the owner
would consider re-registering itself as a corporation or limited liability company (Rozhkov &
Skriabina, 2015). The company founders, Monica and Delilah will handle the day-to-day
operational activities of the plan. Their main objective is to work collaboratively to make their
wedding business a success in the near future.
The business start-up cost is expected to be $3,000. The cost also includes legal cost,
advertizing, design, direct mail and other related expenses. Moreover, additional $5,000 will be
required as an operating capital in the bank account for the initial two months of the operation.
The start-up costs are to be invested equally from the owner’s personal fund. Both Monica and
Delilah are investing $ 4,000 each. As it is a home based business, it is to be set up in a barn

5INTRODUCTION TO MARKETING
close to Canberra region. The services for the wedding function would include etiquette advices,
discounted products and invitations, event scheduling, rehearsal attendance, supervision of the
ceremony and wedding setup and budget planning.
PESTEL Analysis:
PESTEL analysis is therefore used to investigate the crucial factors that affect the
wedding industry in Canberra.
Political factors: this involves the procedures of the government that is associated with
this industry. This includes conventions, laws, restrictions, rules and tariffs. The couples living in
the area and viewing Australia as their wedding destination is expected. It is highly significant
that the political structure in the Canberra region is highly stable to attract more couples. The law
of Australia gives the organization all the provision related to approach individuals that dates are
registered with the marriage registrar and therefore the can approach either of the parties to
manage the wedding functions (Castaño, Méndez & Galindo, 2015).
Economic factors: this involves all those financial forces, which is present in the country.
This includes the wider economic performances. This factor affects the economic performance of
the business through exchange rates, interest rates and inflation. Last year, various parts of the
worlds faced recession. This led rise to inflation, which was the major cause for people loosing
their job and money. During such phase, it becomes quite difficult for the wedding business to
attract and retain clients for their wedding. Therefore it is important to focus the wedding
services to provide more flexibility and convenience to the clients for every aspect of marriage
(Guenther, Endrikat & Guenther, 2016). Moreover, the wedding services should be made
irresistible to the potential brides and grooms for the marriage function.

6INTRODUCTION TO MARKETING
Social factors: social factors are highly significant for every business. It is to be
considered before preparing any marketing plan that is concerned with the society facets.
Moreover various forces within the society such as family, religion, education, social structure
and population growth can influence the businesses both negatively and positively (Saleem,
2017). Wedding industries are bound to involve social influences. Marriage is itself very special
and auspicious occasion for all the couples. Consumer’s behavior is increasing at a rapid rate in
the region for wedding planners and the marketing strategies is planned considering the social
influences on target customers.
Technological factors: in the recent times, advent of innovative or new technology is vital
for the success of a business. The world is rapidly moving towards globalization as there is
increase in the application of e-commerce and internet in every aspects of the business
(Mahmoud, 2015). The demands of the customers are also changing over times and business
seeks to meet the firms demand by adapting to the latest technology that is available in the
market.
Wedding Barn would use the latest software that is available in the market. Operational
plan would be designed according to it and customer should also be provided as per their
requirement and budget. Recently there are various internet savvy customers in Canberra area.
They would use the internet to access information related to services and background the
company offers. Such as testimonials and contact information. Therefore, it is crucial to upgrade
as per the latest technology to serve the customers in a more efficient manner.
Environment factors: Australia is one such country that provides unique and special
location to celebrate the couple’s most crucial aspect of their life that is marriage. Canberra is

7INTRODUCTION TO MARKETING
such a region of Australia, where both church wedding or ceremonial wedding at the mountain
top or on a garden is beautiful in its own aspect. The attractive landscape provides unforgettable
experiences to the couples for their special day. Besides the other parameters environment and
season also motivate couples and further influences the wedding planning business.
Legal factors: this constitutes of the rules of law in which the business would operate.
Every organization has to follow legal rules of the nation in which the business is established.
The government of Australia has made flexibility for making the country as destination for all
those couples wanting to get married there (Phadermrod, Crowder & Wills, 2016).
Competitors analysis
In Canberra recently there are more than 25 companies that offer wedding planning
services. However, majority of the competitors only a limited kind of services like flower
arrangements, catering and gifts. In fact only 10 of the competitive company would offer such
services as compared to the Wedding Barn services of Monica and Delilah. The following is the
list of major competitors with the brief discussion of the services
 Pink Parasol Events It offers innovative and creative wedding and also
event styling, décor hire and planning services.
 Events with Distinction This provides indoor, outdoor as well wedding with
themes like rustic and vintage style. It also provides
catering and flower arrangements
 Couture wedding by Nektaria This is a luxury wedding planning services
that offers catering, rehearsing services.

8INTRODUCTION TO MARKETING
The sales strategy for the business should be maintained by developing affiliate
relationship with the other service providers. This includes carters, hairstylists and florists and
would also receive percentage of sales for the referred customers. Word of mouth referrals would
also lead to increase in the businesses of wedding through customer referrals (Abs.gov.au.,
2018).
SWOT Analysis:
Strength
 Strong potential for customer base
 Huge profit margin
 Less investments
 Excellent communication system
 Adequate social contacts
Weakness
 Seasonal demands
 Less experience in the business
 Largely unorganized market.
Opportunity
 Changes in social environment
 Improving business and economy
Threats
 Increasing competition
 Increasing influence of regional,
substitutes and players in the industry.
The success of the wedding barn is completely dependent on the commitment and quality
level of the owners.

9INTRODUCTION TO MARKETING
References:
ABC News. (2018). How to slash the astronomical cost of weddings. ABC News. Retrieved 16
March 2018, from http://www.abc.net.au/news/2017-11-22/how-to-slash-the-
astronomical-cost-of-weddings/9177536
Abs.gov.au. (2018). 3310.0 - Marriages and Divorces, Australia, 2016. Abs.gov.au. Retrieved 16
March 2018, from http://www.abs.gov.au/ausstats/abs@.nsf/mf/3310.0
Castaño, M. S., Méndez, M. T., & Galindo, M. Á. (2015). The effect of social, cultural, and
economic factors on entrepreneurship. Journal of Business Research, 68(7), 1496-1500.
Fisher, C. K., Pan, M., & Wood, E. F. (2015, December). Assimilation of SWOT Observations
for the Creation of Spatially and Temporally Consistent Discharge Records. In AGU Fall
Meeting Abstracts.
Green, F., & Henseke, G. (2016). The changing graduate labour market: analysis using a new
indicator of graduate jobs. IZA Journal of Labor Policy, 5(1), 14.
Guenther, E., Endrikat, J., & Guenther, T. W. (2016). Environmental management control
systems: a conceptualization and a review of the empirical evidence. Journal of cleaner
production, 136, 147-171.
Hoye, E., & Johnson, P. C. (2016). Capturing the hunter valley feeling in wedding tourism
photography. CAUTHE 2016: The Changing Landscape of Tourism and Hospitality: The
Impact of Emerging Markets and Emerging Destinations, 810.
Kassem, M., & Succar, B. (2017). Macro BIM adoption: Comparative market
analysis. Automation in Construction, 81, 286-299.

10INTRODUCTION TO MARKETING
Mahmoud, E. A. (2015). Modern wedding industry in Egypt: the influence of key wedding venue
attributes on newlywed couple satisfaction and future intention. International Journal of
Hospitality and Event Management, 1(3), 244-275.
Phadermrod, B., Crowder, R. M., & Wills, G. B. (2016). Importance-performance analysis based
SWOT analysis. International Journal of Information Management.
Rozhkov, K. L., & Skriabina, N. I. I. (2015). Places, users, and place uses: a theoretical approach
to place market analysis. Journal of Place Management and Development, 8(2), 103-122.
Saleem, M. A. (2017). The impact of socio-economic factors on small business
success. Geografia-Malaysian Journal of Society and Space, 8(1).
Warnick, R. B., Bojanic, D. C., & Xu, F. (2015). Using a trade market analysis technique to
refine measurements for economic impact analysis of special events. Journal of Travel
Research, 54(1), 52-65.