Garden
Valley
Wedding
Barn
Table of Contents
I.
Situational
Analysis
....3-11
A. Business
Environment
3-4
B. Industry
Characteristics..........................................................................................
.........4-5
C. Competitor
Analysis
.6-8
D. Customer
Analysis
..9-10
E. Summary
.10-11
II.
Marketing
Strategies
.11-18
A. Positioning
..11
B. Marketing
Segmentation..
.11
C. Product/Service
Strategy.1
2-16
D. Price
Strategy
16-17
E. Promotion
Strategy
..17-19
F. Distribution
Strategy
19
I.
Situation Analysis
A. Business Environment
Social:
Economic uncertainty and an increasing acceptance of cohabitation caused
Couples to postpone their nuptials over the past five years, posing a challenge to the
Wedding Services industry.
The high rate of unemployment caused people to delay spending on industry services.
This resulted in a 0.6% revenue decline in 2010. Meanwhile, slowly changing social norms have
dragged down the marriage rate over the past several decades; in the five years to 2014, it is
estimated to decline at an annualized 0.3%. During this time, industry revenue is anticipated to
increase at an average annual rate of 0.6% to $52.4 billion, including a 0.8% expected rise in
2014, thanks to rising consumer spending.
Faster internet connections over the past five years have enabled industry operators to
reach out to potential clients at a lower cost. In addition, social-networking platform
developments have shifted vendors' marketing strategies toward communicating a unique vision
to consumers. Less expensive and more effective online communication has also increased
competition by enabling new industry entrants to market to the same demographics as
established businesses. Such improved marketing channels are expected to drive enterprise
growth at an annualized 4.9% to 522,847 firms in the five years to 2014. As a result, industry
profit is also estimated to increase from 3.5% of revenue in 2009 to 4.1% in 2014.
The marriage rate is forecast to continue declining 1.2% per year on average during the
five years to 2019, though this is not expected to dramatically impact industry performance. The
amount spent on weddings is estimated to grow during the next five years, as higher disposable
income increases the demand for large, costly weddings. A slow but steady 2.6% annualized
increase in consumer spending is projected to support revenue growth, as unemployment falls at
an average annual rate of 3.5% during the next five years. In addition, as the average age of
marriage and length of engagement further increase, couples will have more time to plan and
save money for their ceremonies. As a result, industry revenue is projected to rise at an
annualized 2.1% to $58.0 billion in the five years to 2019.
Legal:
Although each state regulates marriage, there are no other regulations that apply
specifically to wedding service providers. Most state laws dictate that officiates must be
registered in the state or have state approval by holding a recognized position in the community,
such as that of a judge, priest or rabbi, in order to perform a legal ceremony. For our wedding
barn, we will have to apply for our zoning permit, allowing our businesss land to be considered
a business, not residential. Another legal issue our business would need to take care of is
applying for a liquor license, if we plan on selling alcoholic beverages at any point. Our wedding
business would also need to fit all the criteria of a business, including handicap accessible areas,
emergency exit signs, plumbing, and other things needed for running a successful and legal
operation.
Technology:
The software, machinery, equipment and intellectual property of most wedding services
professionals have not changed greatly during the past few decades. Venues and clothing retailers
are much the same, as is the job of caterers, florists, entertainers, coordinators and hair, nail and
makeup artists.
More competition because of online resources for advertising
However, an abundance of online resources for consumers has boosted the competition
between vendors. Likewise, the internet has facilitated price comparison and customization.
Online services, such as The Knot or Style Me Pretty, share information from and about wedding
vendors, making it easier for consumers to learn about the variety of options available to them.
More intense competition, in turn encourages vendors to set themselves apart by catering to a
niche audience or offering discounts or unique services. As a result, many vendors are
transitioning their marketing strategies toward communicating a unique vision to clients through
social networking, blogging and wedding websites. Effective online communications have also
lowered the barriers to entry for wedding services providers by enabling anyone to market to the
same demographics as established businesses.
Photography is highly impacted by technology
One segment of the industry that has benefited greatly from technological change is the
photography segment. Digital photography has revolutionized wedding photography businesses.
Digital technology also allows photographers to easily edit and touch up images without the need
for studio technology or manual airbrushing. Programs such as Adobe Photoshop make these
editing capabilities commercially available. Such advancements and other features, such as
online album design, have enabled photographers to provide more add-on services. As a result,
photographers now deliver more personalized, unique products to clients, increasing their
revenue per wedding and their share of the industry. This change has also benefited other
vendors because photographers often provide the pictures or videos they then use for marketing.
B. Industry Characteristics
All wedding venues are independently run, meaning there is no huge franchise or line of
wedding venue locations. Some of these businesses operate like businesses while others run their
business as a hobby. Each venue is unique and has different characteristics that set them aside
from the others. This could be their buildings, the landscape, location, features in the area, or
even their reputation of previous weddings or events. One of the key factors of a successful
owner is the owner being able to communicate to the benefit of the bride and their mother. When
planning a wedding, there are many people to please in the planning process and if the planner or
venue owner is able to properly communicate and please everyone, it will keep their reputation
going. If someone is able to keep peace between the bride, their mother, and the mother-in-law,
things should go well for the business.
Competitors are able to successfully please their brides and keep a good reputation. Giving what
the bride wants is key to success because each bride wants something different. Wedding barn
venues are able to bring something unique and different to a wedding compared to supper clubs,
gardens, churches, and ballrooms. Churches have always been a common place for people to get
married in, but with time people are wanting to become more original with their wedding venues.
Many forces are driving change with wedding venues:
Fewer formal weddings
Different views in religion causing people to not use church as venue
Brides are more willing to be different and unique
Change in lifestyle causing brides to get married at a later age
Increase in destination weddings
Greater importance of social media and technology
Rivals are becoming much more flexible with their wedding venues, fitting a variety of
themes to please their brides. Technology and social media is becoming of huge importance to
businesses. Brides find their information for their weddings on the Internet now, also many
different trade magazines. Trade magazines serve more for deciding on themes and decorations,
but when it comes to deciding on a wedding venue, it is usually found by word of mouth or
searched on the internet. Marketing and advertising the business is of such importance because
of all the choices brides have.
The profit of the wedding venue business really varies across the spectrum, depending on
people and business savviness of the owner. With the increase number of states allowing gay
marriage, wedding numbers are increasing.
Fergusons Orchard, Eau Claire, WI
What makes Fergusons Orchard so unique is they are an apple
orchard, with a barn venue that they use to host weddings at. The
beautiful landscape of the 100 acre orchard gives it a strength this venue
has over many others. The way their weddings are set up isnt always
the same. They allow weddings to be held inside the barn or outside in
the lawn, both set up very beautifully. The themes could range from
rustic/country to very classy and elegant, depending on what the bride
and groom want. This venue has a lot to offer with the venue and set up
of activities given such a big area.
Another unique resources that Fergusons has to offer is being
located only an hour or so away from the city, yet managing to pick up
customers from rural towns in Wisconsin. Being located just outside of Eau Claire, there are
plenty of hotels for visitors to stay at. Being that they are a very wellknown apple orchard in the Midwest, owning three different
locations, they are able to advertise their wedding venue to a variety
of people and locations. At the Eau Claire orchard, they have farm
animals and other fun activities to entertain the youth at wedding
events.
Even though Fergusons doesn't quite offer the ability to be as
elegant and fancy as some other venues, it offers what a lot of people
are looking for: originality and uniqueness.
Green Acres (listed below) is a much more elegant and fancy
wedding barn venue
while Garden Valley Barn
and Fergusons barn are more moderate and rustic,
with the ability to be somewhat elaborate.
Pros:
Rustic/country theme available
Good location out of Eau Claire (city)
Apple orchard
Lots of land for photos
Cons:
Not very elegant, but still very classy
Destination Weddings
Destination weddings are able to give the bride
and groom a gorgeous and unique place to exchange
vows. The point of a destination wedding goes with
the idea that people should be able to say I do
anywhere. Resorts offer free planning help to couples
which puts a lot less stress on planning for the bride.
With a destination wedding, if the bride knows what
she wants for her backdrop, a castle, mountains, a
vineyard, or an ocean, it doesnt take much to dress
the rest up. This allows for a lot of money saved on decor. Of all the weddings in the US in a
year, only 25% are destination weddings.
Although destination weddings have many pros for
the bride and groom, it can cut their guest list down quite
a lot. Only people that are extremely important to the
couple or people that are able to afford the vacation would
be able to attend. Having a wedding in the Bahamas or
Hawaii can also be less personal to the couple and their
family. If a couple wants their wedding to be more of a
personal experience rather than a huge celebration with
tons of people, then a destination wedding is perfect for them.
Pros:
Unique, beautiful venue
Great photos and memories
Combines honeymoon with wedding
Less planning
Less guests (cheaper)
Cons:
Difficult for family to attend (and afford)
Wont celebrate with many family and friends
More difficult to get wedding license
Green Acres Event Center, Eden Prairie, MN
Green Acres Event Center is a tough competitor. It
is close to the cities and not to mention it is located
in the #1 best place to live in America according to
MONEY Magazine (2010).
What makes it so unique is that it was a barn
built in 1942 and a man named Steven Schussler,
creator of Rainforest Caf, decided to restore it. This
barn was not your typical old fashion simple barn;
Schussler added a nice kind of spice to the
atmosphere. Still having the normal barn feel with
some rustic elegance to it, he also has jukeboxes
and paintings of cows resembling Picasso. The
venue is very elegant in style and the way it is set
up. Furniture, lighting, and decor resemble a
classy theme. They do indeed have land which
comes in hand; you can have the ceremony inside
or outside, and it works great for taking pictures.
Pros:
Very elegant themed and decorated
Near the Twin Cities location
Many rooms/buildings--more people
Cons:
Somewhat stuck with a elegant themed wedding
Located near cities, far away from Garden Valley
D. Customer Analysis
2013 Wedding Statistics Summary for Wisconsin - (State)
o
o
o
o
o
o
o
o
o
o
Number of Weddings (in 2013): 33,260
Eau Claire County-- 655
Trempleau County-- 280
Jackson County--203
Lacrosse County-- 738
Monroe County--425
Juneau County--245
Wood County--426
Clark County--303
Chippewa County--366
Vernon County--263
Total= 3,904 in our area
Average Wedding Cost: $24,354
In Pierce County: $ 20,390 - $ 33,983
a.)
b.)
Most couples spend less than $ 10,000 (Cost)
Average cost of venue $ 12,250 (Cost)
Market Value-- $810 Million
Average number of guests:
Average Number of Guests 150 - 160
In Pierce County: 181 201 (Cost)
Months to marry
2013 August is the busiest months to marry,
followed by July and September (Dhs)
2013 January is the least busiest month (Dhs)
Marriage statistics
- Number of weddings in 2013 was 29,979
(Dhs)
a) Median age in 2013 was 26.4 for women (Dhs)
b) Median age in 2013 was 28 for men (Dhs)
What Do They Buy?
WEDDING GIFTS:
* Couples spend $582 on gifts for each other. The #1 gift from bride to groom is a watch; the #1
gift from groom to bride is jewelry.
* Theyll also spend an additional $760 on gifts for parents ($254), bridesmaids ($268) and
groomsmen ($238).
* #1 gift for bridesmaids is jewelry; #1 gift for groomsmen is liquor related (flasks, shot glasses,
steins or premium liquor).
The customer analysis identifies 33,260 weddings in Wisconsin, and none located in the Black
River Falls area that a wedding venue would be needed and able to earn a profit.
Analysis of customer behavior is important and can be used for market segmentation to
understand what a customer is looking for when searching for a venue. It is important to
understand what type of venue couples are looking for, how couples begin to look and what will
get a couple to make a down payment on a venue.
There are three parts, Market Segmentation:
Identify customer group - which in this case is the bride and groom or a couple;
Customer motivation - what are the customers needs and how do you get them to consider your
wedding venue
What are the unmet needs? - which in this case there are no venues in River Falls, if there are
then how this venue is different than the others
The target customer is women and men in their upper 20s as those are the average age couples
get married. It will be those demographics that the venue will spend money advertising for their
business, the venue will be available to other clients for specials events such as anniversaries or
corporate needs.
The key economic drivers for the success of a wedding venue is consumer spending, marriage
rate, population, the national unemployment rate and the number of college students (Ibis).
Weddings are down due to cohabitation and the high rate of unemployment and has declined at
an estimated rate of .3% (Ibis). Although there is a decline people are still getting married and
celebrating successful marriages and entertainer at venues for other reasons. Due to rising
consumer spending there is an expected rise of revenue of .8% (Ibis).
Summary
1. Importance of Customer Service
Wedding service providers are competing with each other in terms of quality, price, customer
service and marketing. Because services make up the majority of industry revenue, the primary
basis of competition is customer service. No matter how couples find a business, it is imperative
for the representatives to be friendly and informative in order to book that wedding. Yet customer
service only goes so far because the price and (perceived) quality of vendors' goods and services
determines their appeal to the engaged couple. Many vendors choose to provide a wide range of
quality and pricing options in order to expand their consumer base.
2. Improvement of Technology (marketing and advertising)
Technology has drastically increased the competition between businesses in the industry over the
past five years. Social media, blogs, online directories and search engines have facilitated
couples' research about wedding vendors. It also allows word of mouth to travel further and
faster than it used to. Easier communication between vendors and potential clients has facilitated
the availability of information as well. In response to this market opening up, many new
operators are starting businesses in the industry. As the number of vendors rises, competition
intensifies. Additionally, the fast-growing destination weddings segment is relying on these
technologies as couples increasingly book services from online information. The large amount of
information about vendors allows couples to better judge the quality and price of many services
and to choose one to their liking. As a result of these new technologies, wedding services
providers are increasingly competing based on marketing.
3. Brides want to be original and unique to stand out from others
Because most operators in this industry generate a majority of revenue outside of the industry,
external competition is limited. However, the negative financial impact of the economic
downturn caused many couples to reconsider their spending. Many concluded that they could
provide themselves with services or products for their own wedding and many also asked friends
and family to pitch in and help out. This do-it-yourself (DIY) trend took off and became a
popular way for couples to save, but also to personalize their weddings. As consumer spending
revives, the influence of consumer competition on the industry is projected to decline; however,
the DIY segment will continue as a way for couples to customize their weddings.
In Wisconsin and especially in the area where we are located, many people come from a
rural background. Garden Valley Wedding Barn offers the perfect venue for rural families to
share their wedding day. It is the perfect opportunity for the bride and groom to remember where
they came from.
II.
Marketing Strategies
A.
Positioning:
Garden Valley Wedding Barn will position itself in the consumers mind by differentiating it
from the competitors. Our venue includes a small rustic barn, a house, and the ability to hold
events outside, or on the grounds of the venue. Our venue also offers special features, listed
below, and different from our main competitors at the same or lower price.
Garden Valley Wedding Barn gives the bride or planner the ability to choose what they
want. Given the venue, the theme gives off a rustic elegance them but the ability to be more
rustic or be more elegant is possible. We would call the possibilities rustic elegance and rustic
casual, depending on what the bride and groom prefer or decide to go with.
B.
Marketing Segmentation:
Our customer:
Young couple around the age of 25 but can vary a lot
People that are interested in a local and small wedding or event
Couple that is interested in having their wedding at a unique and different venue
Rustic themed wedding
Wants good planning and easy to communicate with people to work with
Our customer will want many things from us, the most important being service and
giving them what they want. The ability to communicate and please the bride and groom, more
the bride than the groom, in the planning of their wedding is vital because the venue is one of the
most important things in the process.
Reaching them will start with attending bridal
shows and having a booth set up. This will get word of mouth going as we have people book at
our venue. Once our businesses starts hosting events, we will be able to pick up more business
because of people who either attended those weddings or by word of mouth. People will start to
look at our website, Like us on Facebook, and receive other ways of advertising. Most of the
people that will be interested in our venue or schedule appointments will be in the areas in and
around Jackson County, as shown in the map below:
Income Segmentation: Garden Valley Wedding Barn doesn't appeal to people that only
want to have a $50 wedding or to people who want to spend $50,000.Our venue is not extremely
price sensitive giving that weddings are a once in a lifetime opportunity and people are willing to
spend more on the event location.
C.
Product/service Strategy:
Branding
Our name, Garden Valley Wedding Barn, comes from the township that it is located it.
The township of Garden Valley is located in the country of Alma Center, WI, which is near Black
River Falls. The landscape includes rolling hills of beautiful crops and farms scattered around the
countryside. This is truly the perfect area for a wedding venue. We will have our logo printed on
our advertisements and on very few things on the actual venue, possibly a sign out front. Inside
the barn, we dont want to take away from the overall decor and layout of the wedding. We
would potentially ask for our logo or name in the wedding invitations or agendas at the wedding.
Features include: Old, rustic barn
Pond with animal
pasture on the venue
propery
Farm house
Table Rock down the road
Beautiful areas to take photos
Service Level
Garden Valley Wedding Barn understands the importance of communication and pleasing
the customer. When it comes to planning a wedding, it becomes even more important as the
potential for dealing with a highly stressed individual is greater. As planners, we will have the
ability to communicate extremely well with our customers, giving them what they want, as well
as giving them as much attention as need be.
Quality
The quality of service our venue includes is the perfect amount for a couple planning
their wedding. We offer a place for the wedding to be held outside on the lawn or inside the barn.
The reception can be held in the barn or outside as well, depending on the number of people
present. The theme of our venue is very universal and able to be changed around. We have a sole
focus on communication with the planning of the wedding because as a wedding venue, we want
the brides day to be as perfect as it can be.
Product Line
Although we do not offer certain products, we offer a certain variety of bundles or
items on the property that can be used, listed above under features. These include the barn, a
lean-two, farm house, a pond, and locations for photo taking.
Our venue is able to host:
Weddings
Birthdays
Anniversaries
Graduations parties
and much more!
Packaging
The only packaging that our businesses offers
is the ability for us to help plan the decorations for the wedding or event that will be hosted at
our venue. We would not only help you pick a layout, but also help deal with the table
decorations, color themes, and decorations around the venue site.
D.
Price Strategy:
Projected Volume
Due to the size, the barn would only be able to hold 150 people
for the reception or the wedding ceremony. For a gathering or dance
area, it is able to hold more. There is also a downstairs area for more
gathering or reception area.
List Price
Barn $2,000--Bridal party will be responsible for liability insurance which is
approximately $500.00
Farm House $350 per night
Decorating $10.00 per hour + expenses
Bundling - At this point, we arent sure how or if we will bundle.
Terms and Financing- We require a $500 down payment when scheduling and fully paid 30 days
before event date.
E.
Promotional Strategy
Advertising: Since Alma Center is a smaller town advertising out of the town is a must to reach
our target audience.
Public Relations:
Making a website to promote our
business will be one of the first things we do.
Brides are going directly to the computer these
days to research florists, photographers,
venues, and caterers. Selling our concept to the
world by showing all the best features and
attributes. Posting beautiful photos of the
venue and all that it has to offer. It is an
inexpensive thing to do unless you pay for a
web designer, depending on who you have
hired, wedding web designers make a range of
30K-70K yearly. As owners, we can learn to
create the web page on our own so that it can be free of cost but lots of time have someone
update it for us for webpages need to be kept up with and updated daily.
Promoting strategy:
An open house would be our best option for promoting ourselves. We are able to show
everyone around; giving them the face to face experience they need to gain trust and prove that
we will do whatever it takes to give them their dream wedding.
Advertising:
Bridal shows- We would like to be around our targeted audience. Our company would set
up a booth at a bridal show. The booth would be approximately a 10x10 booth and it would
contain brochures and a setting that gives you a sense of what our barn venue has to offer. We
will have a drawing that will draw them in to win a prize. This way we will gain contacts and get
the consumer involved with us. We would also have an e-mail contact list to create subscribers.
Brochure:
We would have three different types of brochures. One would be a tri-fold brochure
(shown below) and would give pictures of what our barn looks like empty and some that have
tables and chairs to give the wedding feeling a visual. It would have descriptive paragraphs of all
of the things we have to offer. Second brochure would be more formal and look like a wedding
invitation with thicker paper. It would attract the brides because invitations are something that
will be on their minds. It will feel more personal for them in a way. The third one we have is a
tiny bag that has pictures and behind each picture is a descriptive paragraph or bullet points that
explain the picture and the special offers we have. Each brochure will also point out our
differences from other venues and a map of where we are located. We will not list prices in order
to keep the bride dreaming about her ideal wedding without putting a price on it quite yet.
Facebook Page/ Website:
We would have a Facebook Page that will be a part of our
Word of mouth. This generation is the generation of likes and
many companies thrive off the likes of their
page. We would post many photos of our
venue and make it look as exciting as possible.
We would also work with several
photographers to get our venue on their
photography pages with our Facebook link
and website connected with the photos.
Networking in social media and keeping a
good brand image is vital to our growing
business.
Having the brochure, website,
Facebook page, and all other ads all keep the
same theme and colors, including the logo,
is important as it will create our brand and
continue to be remembered by the customer.
E. Distribution (place) Strategy:
We are working with individuals that have different types of taste so we will be working
with different companies that go from food, decorations, photography, furniture, lights and other
things that the bride would like to have as part of her wedding. All of these things will come
together in a well-organized way to give the bride her dream wedding.