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WeDDing Dreamz
Your satisfaction is our responsibility
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Group Assignment
Principles of Marketing
MKT: 202
Sec: 5
Submitted By:
Group Name : Creative’s
Name: Monowar Hossain Sarker Id# 101 0357 030
Name: Sakib Ahmed khan. Id# 101 0690 030
Name: Md. Assad Al Mamun Id# 101 0403 030
Name: MD. Saifullah Id# 101 0874 030
Name: Sazzad Hossain Id# 101 0015 030
Name: Syeda Tanzina Aziz Id# 092 0673 530
Submitted To:
Farzan Mitu (FrM)
Semester Title:
Spring 2011
Date of Submission:
19th April 2011
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LETTER OF TRANSMITTAL
Farzan Mitu (FrM)
Faculty
BBA Department
North South University
Bashundhara Residential Area, Dhaka.
Dear Madam,
Enclosed is a copy of the group project on the business analysis of Wedding Dreamz. This file includes
all the necessary information and evalutaion. It will aid in promoting our entrepreneurial skills and
analytical ability. This project was assigned to us by you in Fubruary 2011. We completed the project on
schedule and met all our required objectives within the allotted limitations. This project will work as a
partial fulfillment of our MKT 202 course for Spring 2011.
This project includes everything as per the outline. This report also includes an assessment of the business
and recommendations. We took a face-to-face interview of the entrepreneur of such kind business and
gathered all other information from trustworthy and reliable sources.
If you have any questions and/or comments regarding the interpretation of this project please feel free to
contact us. Thank you for providing us with the opportunity to work as a team for this interesting project.
We gained invaluable experience via this project and it was a pleasure. We look forward to working
under your guidance again in the near future.
Thanking you,
Name: Monowar Hossain Sarker. Id# 101 0357 030
Name: Sakib Ahmed khan. Id# 101 0690 030
Name: Md. Assad Al Mamun. Id# 101 0403 030
Name: MD. Saifullah. Id# 101 0874 030
Name: Sazzad Hossain. Id# 101 0015 030
Name: Syeda Tanzina Aziz. Id# 092 0673 530
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Table of Contents
Contents Page Number
Introduction 5
Company Ownership 6
Outline of Proposed Launching Wedding dreamz 6
Start-up Summary 7
Source of finance 7
Target market profile 8
Differentiation strategy 9
Positioning strategy 9
Service
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Price 17
Promotion 18
Place 18
SWOT analysis 19
Competitors analysis 20
Strategy and Implementation Summary/Process 20
Conclusion 20
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Introduction
Marriage happens once in a life time. People want to make their marriage ceremony special,
everyone has a dream to make their wedding party special and we are here to make their dream
come true. They might know or may not know the proper way of arranging a ceremony we are
here to guide you and help you to make no mistake in once in a life time memorable event. So
take a nice seat and relax have a chill drink, and let us carry your headache and build your dream
in reality .
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EXECUTIVE SUMMARY
Wedding dreamz is a full wedding planning service company situated in Dhaka that provides
complete planning and organizing services for weddings and other functions related to wedding
such as- gaye holud, mehendi, wedding reciption. The rich people of Dhaka are really in need of
an efficient wedding planning company who can properly plan, organise and design their
wedding functions with quality service. Wedding dreamz is ready to take the responsibility of
satisfying this types of customers need. The experienced employees and other dedicated
professionals will work for wedding dreamz by the guidelins of their educated management to
satisfy their customers.
Wedding dreamz is unique because we will give our customers our undivided attention. We will
listen to their needs and work with them to create the events of their dreams. Our customers
wishes become our command. So whether our customers want western, typical or traditional
wedding, we can help them. Our services include: Decoration of the venue, stage design,
designing the invitation cards, arrenging musicians and dj, providding the food according to their
want, photography etc.
Our prices will be competitive with other upscale wedding planning company’s. How ever it’s
the strategy of wedding dreamz to give a perception of higher value than its competitors.
Wedding dreamz will be the perfect wedding planning compamy for those people who always
dream to complete their wedding ceremony in a beautiful way. We will always try to serve the
best quality service and satisfy our customers.
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Company Ownership
Wedding dreamz is an event management company. It will be a partnership business owned by
its founders Monowar Hossain Sarker, Sakib Ahmed Khan, MD.Saifullah, Assad Pappu, Syeda
Tanzina Aziz and Sazzadur Rahman.
Vision
“Serve the best”- Our vision is based on it. Our vision is to provide the best quality service to the
customer and become the best wedding planner company in Bangladesh
Outline of Proposed Launching Wedding dreamz
The service that we have selected is becoming more and more popular for this reason many
entrepreneurs are trying to gain profit through such kind of a business. As this kind of a business
does not need huge amount of capital we are expecting to launch this business on 1st August
2011. November-December-January is the wedding season in Bangladesh that’s why we are
looking forward to launch our business in August so that we can earn some experience and grab
some wedding project in the wedding season.
Our objectives for the first three years of operation include:
Keeping employee labor cost between 24-29% of revenue.
Achieve 12% return on investment to investors for the first two years and 15% for the
next three years
Expand our business to divisional districts
Averaging sales between TK.50, 00,000-TK.60, 00,000 per year.
Start-up Summary
Our start-up costs come to TK.40,00,000 which is mostly expensed equipment, furniture,
painting, rent, start-up labor and other executive employees, six months operating cash, and legal
and consulting costs associated with opening our company. At the beginning we’ll mainly spend
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money for our office. Because we are targeting the higher middle class and high class people. A
luxurious office in a good place will create a good impression to our target customers mind.
These are the start-up requirements to the best of our knowledge and experience in the industry.
Start-up Funding
Start-up Expenses to Fund TK.10,00,000
Start-up cash in hand TK.30,00,000
Total Funding required TK.40,00,000
Source of finance
As we said earlier that it’s a partnership business so each partner will contribute to raise the
capital according to the total fund. We will take long term loan from the bank and it is obvious
that bank will not provide the whole money which is 45,00,000 tk. So we’ll take loan of
15,00,000tk. From the bank and rest of the money will be provided by each partner. A table is
given below which will show our source of financing:
Liabilities:
Long-term Liabilities (Bank Loan) TK.15,00,000
Capital:
Planned investment TK.45,00,000
Sakib Ahmed Khan TK.5,00,000
Monowar Hossain Sarkar TK.5,00,000
Sazzad Hossain TK.5,00,000
MD. Saifullah TK.5,00,000
Syeda Tanzina Aziz TK.5,00,000
Assad Al Mamun TK.5,00,000
Total Capital & Liabilities TK.45,00,000
Total Funding: TK. 45,00,000
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Target market Profile
Our main target market is given below:
1. Upper middle class- high class people
2. Celebrity
3. NRB (Non residence of Bangladesh)
There are lots of reasons for choosing this target market. We are targeting upper middle class to
high class people because they are highly interested than other to make a gorgeous wedding
ceremony. Celebrities are always wanted to be the center topic of the media. They always have
news making tendency in their mind that’s why they also want to prepare their wedding
ceremony in a gorgeous way and they have enough money to spend. Another very important
target market is NRB’s.
Why we are choosing this target market?
Upper middle class & upper class people:
90% of our target customers are upper middle class and high class people. These types of people
have enough money. They want maintain their class and that’s why they want to make their
wedding ceremony very luxurious. And we are here to make their wedding luxurious. They want
to spend money and we will provide them the service. They are willing to spend money for their
wedding program. Their requirements for a wedding are given below:
1. Gorgeous venue
2. Highly decorated stage
3. Innovative ideas from the wedding planners
4. Rich food supply etc.
Celebrity:
Celebrities are the most important customer for our business. Normally celebrities are very rich.
Many other celebrities, lots of rich people and other guest who are related to the media are
invited in their wedding. That’s why they always plan to do the wedding ceremony in a luxurious
way and we are here to help them. We will satisfy them with our planning and service.
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NRB (Non-Residence of Bangladesh) :
Most of the NRB’s are rich. There are some personalities who established their career in abroad
but they always have a dream to complete their wedding ceremony in their own country with
their family members and other relatives. They look for a wedding planner who can make their
wedding ceremony very special. They want beautiful venue with gorgeous decoration, rich food
items, and different ideas for the wedding. So we will provide them all the facilities. We have
different types of services for them.
Differentiation strategy
Your one stop shop for designer weddings.
Uniqueness to your wedding event.
Strong network to offer you various specialties.
Designer touch to enhance the ambiance.
Highly cost effective.
We help you to figure out the best service providers of your town.
High professionalism and dedication.
Covering every aspect of wedding and giving a symmetric touch to it.
Our development department gives new concepts and designs.
Hassle free Wedding.
Working to exacting standards and timely delivery.
Ensuring that all the dealings with clients and suppliers are carried out with integrity and
honesty and complete transparent manner.
Positioning statement
To luxurious, highly desired people who want to make every big moment of their life so colorful,
Weeding Dream takes the responsibility to make their weeding dreamful, unique and perfect and
try to earn customer satisfaction through provided services.
Service
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Wedding dreamz offer a wide variety of packages to fill all of your wedding coordination needs
all over Bangladesh. Whether you are looking for complete coordination from beginning to end,
or just a few tips and pointers along the way, we are here to furnish your every need.
Our promise to you is to provide the organization and knowledge it takes for you to completely
enjoy the wedding day you deserve! Keeping the coming bridal season in mind, wedding planner
wedding dreamz is offering exclusive services for honorable clients.
Because no couple's wedding is the same, neither are the packages we offer. Here at wedding
dreams, we can do everything from "day of" wedding coordination, to full event planning
packages. Whether you are looking for an experienced wedding professional to be there and
guide you every step of the way, or just a fantastic team to set up and work on the day of your
event, wedding dreams promises to customize and create the right package for you
Our services are:
Decoration
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a. Gold package
All events (Holud+Wedding+Reception)
Lighting (using all kind of modern equipment)
Flowers for every event depending on client choice (any kind of flower you want)
Hall decoration with highly professionals group
Car decoration / Luxurious cars (BMW 7series, Mercedes Benz SLK, Bentley, limousine)
Basor ghor decoration (with highly trained groups)
b. Silver package Single event
Lighting (using all kind of modern equipment)
Flowers for every event depending on client choice (any kind of flower you want)
Hall decoration with highly professionals group
Car decoration / Luxurious cars (BMW 7series, Mercedes Benz SLK, Bentley, limousine)
Basor ghor decoration (with highly trained groups)
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c. Bronze package Single event
Lighting (2 type of lighting from your choice)
Flower (4 type of flower from your choice)
Hall decoration with highly professional group
Car decoration
Basor ghor decoration (with highly trained groups)
Catering service
Food item is the most important service in a wedding. We value our client’s importance therefore
we will hire top class professional chefs of Dhaka city for your perfect satisfaction. You can
order any kind of food for your wedding .Our chefs is always ready to fulfill your wants.
Photography
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For capturing your dream moments we have professional photographer. We provide a wide range of packages of photography.
a. Gold package
All events (Holud+Wedding+Reception).
Photographer: 6
Duration: As long as the event continues
Number of Pictures: Unlimited (approximately 2000+)
Print: 200 4R + 20 5R in 2 Album
b. Silver package
Single event
Photographer: 2
Duration: As long as the event continues
Number of Pictures: Unlimited (approximately 1000+)
Print: 100 5R + 20 6R in 2 Albums
c. Bronze package
Single event
Photographer: 1
Duration: As long as the event continues
Number of Pictures: Unlimited (approximately 600+)
Print: 50 5R + 10 6R in 1 Album
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*A surprise gift for the complete program (Holud+Wedding+Reception).
*All pictures taken at the event will be delivered on a DVD.
Video service
a. Gold package
HDV
All Event (Holud+Wedding+Reception).
Edited 8 DVD
b. Silver package
HDV
Single Event
Edited 4 DVD
c. Bronze package
DV
Single Event
Edited 2 DVD
Entertainment
a. Gold package
Single Event
Exclusive Music Nights
2 Singers, Musicians including Flutist, Sound systems and Lights. (Famous musician in
town)
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2 projectors
b. Silver package
Single Event
Singer, Musicians, Sound systems and Lights or/
DJ, Sound systems and Lights (top class singer /DJ in your town )
One projector
c. Bronze package
Single Event
DJ + Sound system and Lights (top class DJ in your town )
One LCD
Invitation cards
As we said we have all kinds of wedding planning solutions. We will provide you invitation
cards that you want to distribute among your guests. Designing the invitation card for a luxurious
wedding is very important. We will design the invitation cards as you need or you can choose the
design from our collection.
Provide Sari
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The most important element of a Bangladeshi wedding is Sari. It’s a symbol of Bangladeshi
wedding. All the brides and other women wear sari in the wedding. Especially the brides’ sari
has to be very gorgeous. So we have the ability to provide you gorgeous sari.
**All services can be customized to the client’s needs.
Price
Our target markets are society’s high class people so our price and quality will be high. At the
beginning we will apply price skimming. Our price ranges from (for all our services) 10, 00,000
BDT to 50, 00,000 BDT. We will provide some discount for our client (maximum 10-15%). Our
service is for luxury so we do not have regular sale. Our company makes fewer but profitable
sale. We targeted society’s upper middle to upper class, NRB and our special attention for
celebrities they want to expose their luxury and by our service we can provide them what they
want so they are bound to take our service .Therefore our profit margin will be high even though
our sale volume is low. Our market price is inelastic because our targeted customers are society’s
rich people.
Promotion:
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Promotion is our main priority portion to make people knowledgeable about our weeding
dreams. We budget high for the advertisement of our company. We will use media, billboard,
and website for our advertisement. We will make ads about us which will make sure that the
customer will know about our service categories, the mission of our company. We will set
billboards on some busy roads of gulshan, banani, dhanmondi to attract attention of the
customers. We will give advertisement in the magazines which are most popular to our target
customer. Our special promotion will be to give discount offer if the customer take services from
renowned beauty parlor like persona, lee, women’s world etc. then the parlor will offer the
discount card of our company to take our services. As we are not known at all to our target
market, it is most important to make sure that our target market is well aware of us. We will give
commercial advertisement in face book which is very popular online social network. People can
like our page and they will get updated information about our services. People can also visit our
website to know about us, our services and features.
Place:
According to our target market we will provide our service in the whole Dhaka city. We have our
office at Gulshan Avenue. Customer can visit our office & know about our services. We will also
allow online contact service so that the customer can contact with us in online about our services,
their demand & their booking schedule. We will target primarily high-class known residential
area like gulshan, baridhara, dhanmondi, banani, bashundhara first to give our service. As we are
new in the market we will try to strict with our target market to provide services. So we will not
target any secondary geographical locations to target now. Our service cost will not differ for
different location. Our service pattern will be the same for all different locations.
SWOT analysis
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Strength:
1. Efficient workforce
2. Strong financial position
3. Proper planning
4. Efficient management
5. For the first time, coming up with different features for the wedding
Weakness:
1. Inexperience
2. Geographic segment
3. Lack of management efficiency
Opportunities:
1. Less competitor
2. Customer demand
3. Fashionable people
4. Increasing number of NRB’s
Threat:
1. Main competitor- Shadibondhon company
2. High probability of increased government regulations
3. Huge time will take to achieve the target customers
Competitors analysis
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There are many business organizations related to event management in our country and they all
offer various organizational facilities related to various events. They don’t focus on a perticular
event. These organization are: KDR event planner, Immagination event organizer. For different
even they focus but they don’t prefer any perticular event. These are our competotor in the
market we are dealing with.
We have the monosubjective organization who has the main subject as wedding planning to plan
the wedding ceremonies. We are only focusing in wedding events. To compete in the business
we are having better quality of resource with performance and the utilities. The competitors have
name, fame and brands but we have the expertise to focusing in single business. For the
competition in the business market it may not be tough but it is always tough when you are
competing in business.
Strategy and Implementation Summary/Process
Our strategy is simple; we intend to succeed by giving people a combination of excellent and
interesting service. We will focus on maintaining quality and establishing a strong identity in our
community. Our main focus in marketing will be to increase customer awareness in the
surrounding communities. We will direct all of our tactics and programs toward the goal of
explaining who we are and what we do. We will keep our standards high.
Conclusion
At the end of the day, the business we are going to do is all about satisfying the customers with
quality service. Wedding dreamz will penetrate the market keeping this concept in mind and
will try to give its customers the greatest experience of wedding ceremony through providing
different and best quality service. And wedding dreamz will work keeping one thing in mind
that “your satisfaction is our responsibility”.
Reference:
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http://www.bplans.com/wedding_consultant_business_plan/executive_summary_fc.cfm
http://www.google.com.br/#hl=pt-
BR&source=hp&biw=1024&bih=578&q=executive+summary+of+a+wedding+planning+compa
ny&aq=f&aqi=&aql=&oq=&fp=8b55df3c7e943900
http://www.google.com.br/images?hl=pt-
BR&source=hp&biw=1024&bih=578&q=bangladeshi+wedding+pics&gbv=2&aq=o&aqi=g10
&aql=&oq=
http://www.bdweddingplanners.com/