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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/