Introduction To Marketing - Assignment
Added on 2021-04-21
11 Pages2308 Words27 Views
Running head: INTRODUCTION TO MARKETINGINTRODUCTION TO MARKETINGName of the StudentName of the UniversityAuthors Note
1INTRODUCTION TO MARKETINGExecutive SummaryThe 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 andturnover for the business. Moreover, the company analysis is done to know the goals andobjectives, mission and service quality. Environmental analysis is also ascertained andfurthermore, PESTEL and SWOT analysis is also done to ascertain the effectiveness of weddingbusiness in Canberra.
2INTRODUCTION TO MARKETINGTable of ContentsMarket analysis:...............................................................................................................................3Company analysis:...........................................................................................................................4PESTEL Analysis:...........................................................................................................................5Competitors analysis........................................................................................................................7SWOT Analysis:..............................................................................................................................8References:......................................................................................................................................9
3INTRODUCTION TO MARKETINGMarket analysis:Wedding barn by Delilah and Monica is a start- up business plan to be initiated in theCanberra region. The mission of the business is to provide a complete package for weddings andanniversaries. 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 moretraditional 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 andmemorable experiences to their clients. The total average cost of a wedding is above $30,000. Maximum cost is spent on thevenue and other cost includes catering, entertainment, car services, florists and musicians(Warnick, Bojanic & Xu, 2015). The large barn is sufficient for arranging the wedding ceremonyin 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 throughoutAustralia (ABC News., 2018). In the recent times professional wedding planners have become acommodity rather than calamity. In Canberra region, every individual is also a potential clienttherefore it is vital to advertize to family members, grooms and brides. The number of marriagehas increased by 4.2% in the year 2016. Market segmentationMarriage is a billion dollar industry in Australia and the marriage rate is still being toremain same in the near future. In Canberra, where Wedding Barn is planned to operate their
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