Marketing Plan 1

Chapter 1.

Introduction

1.1. Present Status:

A destination wedding is any wedding that’s held away from the area in which the couple

currently lives. So technically speaking, a wedding in a different city or state is a Destination

Wedding. Not only are we planning to do it outside city but also we would like promote and use

our royal heritage sites to accommodate the bridal families, conduct ceremonies there to create a

royal feeling among our guests. The concept is completely new for our country and nobody yet

dared to work on this issue. So as a challenge we have accepted to work on the planning and

implementation of destination wedding according to Bangladeshi perception.

1.2. Mission:

To plan and implement Destination Wedding Service in Bangladesh.

1.3. Goals:

 Spread our culture of wedding not only in our own country but also all over the world.

 Highlight our Bangladeshi culture and tradition to the new generation

 Help our clients make their wedding stress free

 Ensure the full consultancy and management to our clients about their wedding

 Renovate our old archeological sites

 Working with the Government to promote our cultural heritage and make Bangladesh one the

best destinations for wedding.

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1.4. Competitive Advantage:

The cost of production in a developing state like Bangladesh is lower due to lower cost of

labor, improving infrastructure and also subsidies provided from government funds. This

will allow us to topple down potential foreign competitors. Moreover, as ancient heritages

will attract larger customers both from the local and international consumers it will lead

to higher revenue earnings and thus profit turnover will be rising. Earnings for the state

will also rise due to the attraction of heritage for tourists are higher. Thereby earnings

from foreign currency will also be retained.

1.5. Market Needs:

 Getting the right service at the right time right place with the right pricing strategy so

that a bundle of values could be created.

 High quality destination wedding planners who are punctual, reliable and effective.

 They need Price, Quality and Service.

1.6. Popular trends in Wedding Management:

 Professional wedding planner or event management

 Wedding stage Décor and Floral art

 Mehndi design and cultural program

 Bridal make up and designer clothing

 Buffet meal and Exquisite cuisine

 Professional Wedding Photography

 Party place and community centers

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1.7. Market Map and Gap:

Dream Theatre
High Price Weddings

Dream Weavers Wedding Diary

Standerd Image Healthy Image

Low Price

Figure no: 1

Market Map outlines the position of product in the market in terms of its competitors.

Other wedding planners relies on various places on the market map. Local planners are less

expensive but has poor image, so reliability is very low.

Established competitors like Wedding diary bear a healthy image with competitive pricing which

is neither too expensive nor cheap.

So if we hit the market at Price Skimming and associate high price extraordinary image, people

from a higher socio economic class will consider as potentials. And as the next placed competitor

will look to increase their image, costs will rise and with their higher price they will move out of

competition as people will think-

“Why pay more for Wedding Diary if we can afford Dream Theatre with a bit more.”
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Chapter 2.

Research Approach

2.1. Methodology:

Primary Data:

This is a literature based project and therefore to conduct this study, data collection from

customer through questionnaire were avoided. But a number of wedding attendee and observer

were interviewed for detailed information. We also tried to contact with some caterer, wedding

planner, wedding photographer, event manager within our reach.

Secondary Data:

The source of secondary data are websites, printed material, articles, catalogs and online social

media of various firms providing services wedding ceremony in urban area.

2.2. Research Method:

Sampling Approach:

We planned to approach our customers in different samples. So before conducting the research

we divided our total population into 3 different samples-

 Bachelors
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 Newly Weds

 Parents of Generation Z

Sampling Procedure-

To reach our message and the details of our service, we need to reach all of our potential

customers. But accomplishing that task could not be done all together. That is why we divided

our potential customers into samples. There are various procedures of sampling-

 Simple random sampling-

In simple random sampling a random group of people are selected from the total

population and it is then stated as a sample. In this type of sampling method there is no

consideration of age, ethnicity, and gender and there is no specific aim or reasons while

doing the sampling.

 Stratified random sampling-

In this kind of sampling method, a sampler primarily divides the total population group

into separate groups based on relevant characteristics. This type of sampling procedure is

followed when the sampler wants to make sure that the subgroups of the original

population are properly represented within the sample.

Stratified random sampling procedure has some specific steps. They are-

o Determining the strata/group the population will be divided into o Allocating the
number of participants of each group

o Splitting the specifications of the analysis within the different strata. o Randomly
selecting any participant from the prescribed strata.

Among the aforementioned sampling procedure, we followed the stratified random sampling

procedure.
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Our total population were the potential brides and grooms along with their families who

are trying to get married soon. We divided them into

3 separate strata’s-

 Bachelors

 Newly weds

 Parents of Generation Y.

2.3. Data Analysis and Interpretation:

The members of each stratum randomly participated in the interviews. In these interviews, our

team asked them about the problems they faced most while planning wedding for themselves or

their children. They listed out the following problems-

1. Lack of effective planning by existing planners.

2. Wedding to be outside the main city and it’s like a wedding trip, is really exciting for

wedding hopefuls.

3. Sometimes having no trust on the agency

4. Opportunity to have a luxury wedding for the couple and travelling and roaming around

for its guests.

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2.4. Micro and Macro Environment Analysis:

Roles Rights Responsibilities

Customers  Purchase goods  Receive goods  To be honest to pay
and services and services with for goods
 Provide revenue proper laws and  Not to steel
from sales for the health and safety  Not make false came
business.  Offered over the goods
replacements
compensations
and repairs plus
provide PQS.
Suppliers  Supply goods and  To be paid on  Supply goods and
services to allow time services ordered by
the business for  Fair treatment the business in time
producing and protected by and according to
law contract

Employees  Provide manual  Paid under  To be honest

labor services national  To meet conditions
required to minimum wage of employee contract
produce the  Paid according observe under
product or service to employee ethical code of
contract conduct
 Permission of
trade union
Local  Provide local  To be consulted  To cooperate with
services and during changes the business and
Community infrastructure to to their other expansion
the business to surroundings so plans
allow it to operate, that lives are not  Meet reasonable
produce, sell affected request such as
within legal limits. public transport
Governmen  Provides law and  Business have  To treat business
order to allow dutied of putting equally under the
t legal business taxes on time, law
 Provides sell and produce  Prevent unfair
economic stability legal goods, etc. competition
and environment  Allow international
to do business trade

Table no: 1
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Chapter 3.

Marketing Models and Tools

For making our business stand out we must devise a strategic planning. To accomplish that, a

detailed analysis of the field must be done. The analysis is given below-

3.1. Ansoff Matrix:

It is the portfolio planning tool for identifying company growth opportunities; it is the risk

associated with the four growth strategies of market penetration, market development, product

development and diversification.

Existing
Products

Market Penetration Product Development

Sell more in existing Sell new products in
markets. existing markets.

Markets
Market Development Diversification
Achieve more sales and Sell new products in
market share for existing new markets.
products in new markets.
Increasing
risk

Figure no: 2
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Findings-

We are trying to sell new products in the existing market that’s is we are at Product Development.

As you know that the wedding market is very traditional and already has a few competitors but, the

concept of destination wedding, i.e. conducting the wedding outside the chains of the city at a

location that would create a youthful vibe of entering new life.

Further, at the position of product development, risks are limited, so, startup will be less riskier than

diversification and other opportunities.

3.2. GE Matrix;

Developed by General Electric with McKinsey and Company. The Model identifies the market

position the Market Attractiveness and Business Unit Strength.

Business Unit Strength

Mark High Medium Low

et
Attra High Invest Invest Protect
ctiven
ess Mediu Invest Protect Harvest
m
Low Protect Harvest Divest

Figure no: 3

We fall in the criteria where our business unit strength is medium but as this is a new concept

with immense potentiality as wedding is an event where people do not want to compromise with

anything, Market Attractiveness is very high. So investment is the objective according to GE

Matrix.

But potential competitors will be catching up quickly as they already have a good will and

customer equity. So long term we might need to protect with Medium Strength and
Attractiveness.
Marketing Plan 10

3.3. SWOT Analysis:

SWOT stands for: Strength, Weakness, Opportunity, and Threat. A SWOT analysis guides to

identify an organization’s strengths and weaknesses (S-W), as well as broader opportunities and

threats (O-T). Developing a fuller awareness of the situation helps with both strategic planning

and decision-making.

Strength and Weakness are the internal factors. That is, the factors of the company that can prove

to be beneficial to themselves are the strengths whereas the factors that can be beneficial to the

competitors or can make the progress hard for the company are the weaknesses.

On the other hand, Opportunity and Threat are the external factors. The competitors going down

or a new door to the market opening can be an opportunity for the company. Again, the

competitor capturing the market and rising can be a threat. So all these factors are external.

A SWOT analysis can offer helpful perspectives at any stage of an effort. One might use it to-

 Explore possibilities for new efforts or solutions to problems.

 Make decisions about the best path for initiative. Identifying opportunities for success in

context of threats which can clarify directions and choices.

 Determine where change is possible. If one is at a turning point, an inventory of strengths

and weaknesses can reveal priorities as well as possibilities.

 Adjust and refine plans mid-course. A new opportunity might open wider avenues, while

a new threat could close a path that once existed.

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Findings-

The strength of our business is that this type of business is unique in the field so we have the new

mover’s advantage.

The weakness of our business is, since it is a startup business, not a lot of people knows about

our service. Hence, people would not get to use our services that much in the beginning.

The opportunity of our business is no other services provide destination wedding in the way we

do as, we specialize in making the wedding a feast all the way. Plus, our wedding destinations

will be famous archeological sites across Bangladesh- Bhawal Rajbari, Gazipur, etc. will be

modified to suit wedding conditions for 2 to 3 days. That gives us the opportunity to retain the

lion’s share of the market.

The threat that we have is Wedding Diary. They are already in a similar business. SO they can

move in our business any time and then their brand value will hamper our sales.
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Table no - 2

Strengths Weakness
1. Lower Cost of 1. Lack of technology
production 2. Lack of extensive
2. Potential tourist equipments for
earning infrastructure
Opportunities Threats
1. Higher target market 1. Potential strong
2. Increased demand competitors like
Wedding Diary
expansion

3.4. PESTLE Analysis:

PESTLE analysis, which is sometimes referred as PEST analysis, is used as a tool by companies

to track the environment they’re operating in or are planning to launch a new

project/product/service etc.
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PESTLE is a mnemonic which in its expanded form denotes P for Political, E for Economic, S

for Social, T for Technological, L for Legal and E for Environmental. It gives a bird’s eye view

of the whole environment from many different angles that one wants to check and keep a track of

while contemplating on a certain idea/plan.

There are certain questions that one needs to ask while conducting this analysis, which give them

an idea of what things to keep in mind. They are-

 What is the political situation of the country and how can it affect the industry?

 What are the prevalent economic factors?

 How much importance does culture has in the market and what are its determinants?

 What technological innovations are likely to pop up and affect the market structure?

 Are there any current legislations that regulate the industry or can there be any change in

the legislations for the industry?

 What are the environmental concerns for the industry?

All the aspects of this technique are crucial for any industry a business might be in. More than

just understanding the market, this framework represents one of the vertebras of the backbone of

strategic management that not only defines what a company should do, but also accounts for an

organization’s goals and the strategies stringed to them.

Findings-

 The political situation of our country could hamper our business in certain ways. Since

ours is a wedding service, a lot depends on transportation and movements outside Dhaka.

Strikes and other political turbulences might thus hamper our business as potential

customers will not risk their lives just for a wedding.

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 The economy of the people of our country is much diversified. This is a prime concern is
economic stability, because wedding spending depends on the weight of the pockets.

 The culture of our country is diversified. A lot of these people are much inclined by

Western and Indian culture. These people are our potential target customer and with the

rise in these cultures we are making a fusion so that our Bangladeshi culture is not

diminished.

Table no - 3

Political Economic
 Strikes and other turbulence might  Economic state to be stable
hamper

Social Technological
 People interested in modern
cultures with traditional fusion  Technological advancement would
be beneficial for communication.

Legal Environmental
 Nothing going against law  Not harmful to nature in any way

 Legal environment in support  Helpful to preserve cultural heritage

 We will be using a unique smartphone app for our business. It would contain all the

necessary information regarding our supplies and services. It would make it easier for the

business to organize and communicate easily.

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 Nothing in our business would go against the law, nor would it go against any

instructions by the government. So, the legal environment is on the support of our

business.

 Our services will not hamper the environment in any ways. Moreover, we formulated our

plan with a view to preserve the nature and as well as the heritage sites that are being

diminished day by day. Dumping of wastages will be according to the moral views of the

society and even residues will be sold by By-Product pricing to be more competitive.

3.5. 7Ps of Marketing Mix:

7P’s are the extended version of the 4 P’s of marketing mix. At first the 4 P’s are described

below-

 Product - The Product should fit the task consumers want it for, it should work and it

should be what the consumers are expecting to get.

 Place – The product should be available from where your target consumer finds it easiest

to shop. This may be High Street, Mail Order or the more current option via e-commerce

or an online shop.

 Price – The Product should always be seen as representing good value for money. This

does not necessarily mean it should be the cheapest available; one of the main tenets of

the marketing concept is that customers are usually happy to pay a little more for

something that works really well for them.

 Promotion – Advertising, PR, Sales Promotion, Personal Selling and, in more recent

times, Social Media are all key communication tools for an organization. These tools
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should be used to put across the organization’s message to the correct audiences in the

manner they would most like to hear, whether it be informative or appealing to their

emotions.

Figure no - 4

The Extended version of the mix contains 3 more Ps that makes it 7Ps in total. They are-

 People – All companies are reliant on the people who run them from front line Sales staff

to the Managing Director. Having the right people is essential because they are as much a

part of your business offering as the products/services you are offering.

 Processes –The delivery of your service is usually done with the customer present so how

the service is delivered is once again part of what the consumer is paying for.

 Physical Evidence – Almost all services include some physical elements even if the bulk of

what the consumer is paying for is intangible. For example, a hair salon would provide their

client with a completed hairdo and an insurance company would give their customers some

form of printed material. Even if the material is not physically printed

(in the case of PDF’s) they are still receiving a “physical product” by this definition.
 Marketing Plan 17

Findings-

Ours is not a product, it’s a unique service. It will provide our customer with what they want,

how they want make these special moments more than memorable, so it’s not just a picture to

cherish at the end of the day. It will provide a hassle free experience which the customers crave

for and moreover we call it “Wedding Trip” rather than a just a normal wedding.

We would set up our head office near Tejgaon, Dhaka. That gives us access to potential

customers living around that area as well as this will create an image that our company is unique

in terms of choice of venue and state of art office as the wedding customers want to feel special

every moment, from making the deal to completing all the rasms.

3.6. Porter’s Five Forces:

Porter’s Five Forces Analysis assumes that there are five important forces that determine

competitive power in a business situation. These are-

1. Supplier Power: Here one can assess how easy it is for suppliers to drive up prices. This

is driven by the number of suppliers of each key input, the uniqueness of their product or

service, and so on. The fewer the supplier choices one has, and the more he needs

suppliers' help, the more powerful the suppliers are.

Though Dream Theatre has a few tough competitors in wedding management but we are

the sole suppliers in the destination wedding. So we have more advantage in terms of

supplier power as we could exploit low prices and higher profits.

2. Buyer Power: Here one sees how easy it is for buyers to drive prices down. Again, this is

driven by the number of buyers, the importance of each individual buyer to the business,

the cost to them of switching from your products and services to those of someone else,

and so on. If one deals with few, powerful buyers, then they are often able to dictate

terms to him. It’s always win while you are buying.

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The buyers of our service are being recognized to a new way of getting into the wedding

commitment. They might or might not adopt this means. So even if there are no

competitors in the field currently, the customers’ attractiveness to such high end

luxurious wedding determine whether our business will flourish or not.

3. Competitive Rivalry: What is important here is the number and capability of your

competitors. If one has many competitors, and they offer equally attractive products and

services, then he'll most likely have little power in the situation, because suppliers and

buyers will go elsewhere if they don't get a good deal from him. On the other hand, if no-

one else can do what he does, then he can often have tremendous strength.

In this field we don’t have any competitors. This gives us the first mover’s plus

competitive advantage and provides us with great strength.

4. Threat of Substitution: This is affected by the ability of the customers to find a

different way of doing – for example, if one supplies a unique software product that

automates an important process, people may substitute by doing the process manually or

by outsourcing it. If substitution is easy and substitution is viable, then this weakens the

power.

The service that we are providing is a substitution itself to the monotonous process of

conducting wedding by the families themselves. We are making it fun and hassle free

consuming for the people and making it a business for ourselves. So, now the threat of

substitution is fairly low.

5. Threat of New Entry: Power is also affected by the ability of people to enter the

market. If it costs little in time or money to enter the market and compete effectively, if

there are few economies of scale in place, or if he has little protection for your key

technologies, then new competitors can quickly enter the market and weaken his position.
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This market has been untapped so far. We are the pioneers in the field. But this is a field in

which a business can generate profit if operated properly. So as we are going to point this out lots

of other entrepreneurs may reside to this business.

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Chapter 4.

The Marketing Plan

4.1. The Value Delivery Process:

The traditional view of marketing is that the firm makes something and then sells it, with

marketing taking place in the selling process. Companies that subscribe to this view have the

best chance of succeeding in economies marked by goods shortages where consumers are not

fussy about quality, features, or style—for example, basic staple goods in developing markets.

But here this traditional view will not work. In this business of ours we have different types of

people with different wants and different offerings. They also fall under different buying

criteria.

Because of this we would have to deliver our offerings in a well segregated manner to a definite

target market and in a specific way. We will also have to offer some unique delight. We are not

delivering a service to the customers like all other organization. But we are rather providing a value

to them to their wedding that the can cherish for the whole lifetime.

4.2. The Value Chain:

Harvard’s Michael Porter has proposed the value chain as a tool for identifying ways to create

more customer value. According to this model, every firm is a synthesis of activities performed

to design, produce, and market, deliver, and support its product. The value chain identifies nine

strategically relevant activities—five primary and four support activities—that create value and

cost in a specific business.

The primary activities are (1) inbound logistics, or bringing materials into the business; (2)

operations, or converting materials into final products; (3) outbound logistics, or shipping out
 Marketing Plan 21

final products; (4) marketing, which includes sales; and (5) service. Specialized departments

handle the support activities— (1) procurement, (2) technology development, (3) human resource

management, and (4) firm infrastructure.

Figure no: 5

Each part of the value chain will allow Dream Theatre to coordinate and make a synchronization

of the primary and the supporting activities which, from the very beginning will provide us with

competitive advantage and a quality to be market leaders. Moreover, to make compliance with

the whole value chain theory we will setup Enterprise Resource Planning (ERP) like Sysnova

ERP of Bangladesh. This will apparently create long term value laden profitable relationship

with our clients.

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In our business we also plan to evaluate the customers with our services. For that we plan to go

through the following activities in the described ways:

4.3. Setting up The Business:

Every wedding season during the winters, we will create a campaign that will encourage

customers to contact us and get pricing quotation. Moreover, we will contact our destinations

like partner hotels, resorts, heritage sites, and amazing locations that our customers prefer.

Contacting us will be mainly through websites and also face to face at our office in Tejgaon.

We will also promote our wedding business through our partner hotels, resorts, etc. so that

people who have already visited those hotels will strongly recommend us thus we will have word

of mouth promotion.

4.4. Ordering:

Our customers could order from our website or face to face at our office or we could fix a place

for meeting at the clients’ house or restaurants for initial planning. The website will be

attractively assorted and segregated according to the customer preferences so that browsing

through it is user friendly and persuasive, enthralling the young generations to enjoy every bit of

their 2nd innings of their lives.

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4.5. Competitor Analysis-

The definition suggests that it is the process of identifying key competitors: assessing their

objectives, strategies, strength and selecting which competitors to attack or avoid.

Figure no: 6

Being the market challenger in the wedding market though we have our own Unique Selling

Proposition (USP), the main strategy to enter the competitive market through Flanking Attack

where we have addressed the market gap for superb quality and expensive pricing. These will

show customers that we are not like the other competitors though we are challenging the market.

Unfortunately, the other attacks like frontal, guerilla and encirclement are more risker as we have

a small venture going face to face with wedding diary would give us second movers advantage in

wedding planning and first movers advantage in destination wedding. Even guerilla attack will

increase the costs initially.

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4.6. Pricing:

For the customers right after the launch we will keep prices high so that customers will be

able to perceive that we are exclusive wedding planners than our competitors plus we will

fully utilize the new mover’s advantages. we look forward to expand, we will do this so that

we can always give a good itinerary and provide our customers hassle free service.

We would be starting our service with the following pricing strategies-

Market Skimming Pricing-

At first we will let our service off at market skimming pricing.

According to market skimming pricing, the firm charges a high price for a new product or

service to skim maximum revenue layer by layer from the segments who are willing to pay a

high price, the company makes fewer but more profitable sales. Here the quality and image

has to support the high price.

In this process the company will make initial profits with lower break even and more revenue

and total cost gap. The perceptive quality associated with the high price create a hype and

passively let create an identity of their service in the customer’s head. Especially when it

comes to wedding planning and destination selections.

After the initial process of market skimming pricing, as our market will grow according to the

product life cycle, we plan to abide by the mark up pricing strategy.

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Dynamic Pricing-

Concentrating on the product mix pricing strategies, Dynamic pricing is when prices are adjusted

continually to meet the characteristics and needs of individual customers and situations.

Example- Dell with its customized computers uses dynamic pricing.

Our service is a customer oriented and we provide specialized service. Thus as customers will

come with their specific requirements for wedding we will adjust the prices according to their

needs. This will allow us to charge specifically and will create a fine line of customer

relationship as there will be no hidden costs.

Since we plan to form a coalition with the government, so we can ensure we not only make

margins on profits but also subsidize our cost of location

4.7. Distribution:

Marketing distribution channel design is the process of designing effective marketing channels

by analyzing customer needs, setting channel objectives, identifying major channel alternatives

and evaluating those alternatives.

The distribution channel is provided with a diagram below:

Figure no - 7

PRODUCER CUSTOMER
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Here, in the above mentioned diagram, the service providers are us, there will be no agent no

intermediaries we will have personal selling and thus will be a direct marketing channel from

producer to customer.

We would be setting up make shift shops in major destination hotels and also in fairs that

concentrate on wedding and travelling, like National Tourism Board Travel Fair.

But permanently e would set up our head office near Tejgaon, Dhaka. That gives us access to

potential customers living around that area as well as this will create an image that our company

is unique in terms of choice of venue and state of art office as the wedding customers want to

feel special every moment, from making the deal to completing all the Rasams.

4.8. Promotion:

The promotions of a product or a service needs special care and a structured approach to succeed.

Ours is a new company and to we will have to utilize all our promotional tools to convey our

message properly to our customers. This is how we could guarantee a successful promotion by

our company.
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A company when promoting their service or product, abides by a certain group of promotional

tools. This is called the promotion mix. We are also going to use a promotional mix for our

service.

4.9. Promotional Mix:

Our promotional mix would contain certain tools-

Advertising- we would put our ads in various social media apps that attract the target market we

are looking for. Moreover, we have plans to launch videos of a few clients that loved giving us

the work to conduct the weddings, digital media boards in hotels and stores where we have our

makeshift booths.

Sales promotion - To increase our sales at the first place we will provide certain coupons that

will give cash rebate during the wedding shopping and discount offerings on your peripheral

activities that include pre and post wedding photography or anniversary photo shoots.

Personal selling- interns or the sales team will attend the clients in that will be very effective as

going after one client at a time.

Public relations we would be working on improving our public relations with the stakeholders.

The packages in which we will be providing our service in will be a unique one that will attract

the attention of the customers and retain them as our customers. Plus, these strategies will also

show that we are concerned about the wellbeing of the society and want to contribute through

CSR in the long run. The goodwill that we will focus to create will be the value in the market.

Direct marketing- we will use digital concept to reach the young audience, and apps will

enlighten our world. To reach wide and reach smoothly we need social media apps.
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4.10. Integrated Marketing Communications (IMC):

A management concept that is designed to make all aspects of marketing communication such as

advertising, sales promotion, public relations, and direct marketing work together as a unified

force, rather than permitting each to work in isolation is known as IMC or Integrated Marketing

Communications. It is an approach to achieving the objectives of a marketing campaign, through

a well-coordinated use of different promotional methods that are intended to reinforce each

other.

That is, IMC helps to keep all the marketing means and tool under one single line and delivers

one single message. With so many products and services to choose from, consumers are often

overwhelmed by the vast number of advertisements flooding both online and offline

communication channels. Marketing messages run the risk of being overlooked and ignored if

they are not relevant to consumers' needs and wants. But if one single messages comes by again

and again from various means, it is bound to create and impact on the consumer mind and leave a

mark. This is where the IMC is successful and necessary.

There are 3 means of communicating the brand message:

1. ATL

2. BTL

3. Digital marketing

Above the Line (ATL)-

ATL is mainly the Billboards, Print ads, TVC etc. that are done for mass marketing. It is targeted

to the mass market in a generalized way. It is rather impersonal.

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In our business, we are not using any ATL means of promotion. This is because we have a

short and concise target group. We don’t want mass marketing. Again, mass marketing needs

a huge budget which we do not want to do right at the moment. SO, we are NOT going for

ATL.

Below the Line (BTL) -

BTL is more of a direct marketing. It is a man to man, one to one communication. Here, a

sales person will go from place to place and talk to the people about the product and the

brand message. By BTL we are looking to create a relationship of product and customer. This

is less costly yet very efficient.

We will go for a bit of BTL around popular community centers. Our salesmen will provide

exactly the same message that we are providing through the other means of communication

so that it follows the theory of Content Marketing with the fluid mix of paid, owned, earned

and shared (POES) where all the theories and people can keep our message and name in their

minds. We tend to capture share of heart in the long run.

Digital Marketing-

For a small startup like ours, the promotion needs to be cost effective yet efficient. The

promotion must reach the target group in the easiest way. As ours is a small startup but

complies with quit gracious competitors, and the target group is mostly available online, we

will mainly go for online promotions, i.e. Digital Promotions. The mean:

Online Ads and Viral Video-

We’ll target all the popular websites like Facebook, twitter, Instagram, imo, etc. Through

Facebook and twitter our message would reach the target group easily. The ads will talk

about us and how we work and how things would get easier through us. And where we have

bench marked the standards that customer might have never imagined.
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We will also have a Facebook page through which people would be able to know about us

and would also be able to place orders and ask for any queries. The Facebook page would be

monitored 24/7.

A viral video would be made so that people watches and shares our video and our word

spreads from mouth to mouth, viewer to viewer.

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4.11. Budget and Reach Analysis:

The financials of our proposed business is provided in the following:

Table no - 4

Area of expense Amount of expense (In taka)

Office rent 40,000

2 Manager’s salary 10,000*2

5 Sales Officer salary 6000*5

1 Security guard’s salary 5000

3 Idea maker + Sales Ofiicer salary 8000*2

Online ads 12000

App 6,000

Website 50,000

5 T-shirt 500

Packaging and Miscellaneous 1000

st
Total cost in the 1 month: Tk. 171500

Reach Analysis:

Online ads: 1 million

App and website: 50 Thousand

Total reach: 10, 50,000

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Findings:

The total cost of the startup business for the first month is Tk. 171500. This is a minimum budget

business. Because it’s a small startup and the investment cannot be much. The main investment

depends on the client we get. So the cost is kept as lower as possible.

The promotional means that are used in our business are easy and effective and feasible. The

means are picked such that the cost is not much, and so that our message reaches our target group

directly. Here, through the online ads in various websites, we have estimated the reach would be

10 lac in a very pessimistic point of view. From our website, we have estimated an additional

reach of 50,000. Thus we have got a total reach of 10, 50,000 people which is not less in respect

of the total cost..

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Chapter 5.

Conclusion

A unique idea of minimizing hassle for both parents and to be weds through wedding

planning service, a first of its kind. Through our service we will try to reach to as many

people as we can and increase the number gradually. In our efforts to find the feasibility of

this venture we tried to show through our previously stated processes, budgets, limitation and

other important aspect as to how this project can be implemented. There are some research

methods that we used to get the primary and necessary knowledge as to what the people in

question actually wants and how exactly we can help them.

Sampling approach were divided into three types: bachelors, newlyweds and parents of

Generation Z. Sampling methods were basically two types simple random sampling and

stratified random sampling. For analyzing the market, we sought out some models like

Ansoff Matrix, GE Matrix, SWOT analysis, PESTLE analysis, 7P’s which is an extension of

the original 4P’s model. Then we also implied Porter’s five forces model in our idea and

showed how it relates with it. The supplier power, buyer power, competitive rivalry, threat of

substitution and threat of new entry.

The marketing plan has also been given by us in the paper. It included everything related with

the marketing process which are value delivery process, value chain, setting the business,
 Marketing Plan 34

ordering, pricing, distribution, promotion, online ads, unique application and along with all these

we showed the required financials that were necessary for the job. Pricing was a crucial factor

here as it was evident from our communication with the customers that the price varied from

customer to customer, which is a very crucial factor. We through our service will make sure that

a reasonable and fair price is maintained in the sacred transaction of wedding with all profits

satisfied.

This service if implemented properly will be a success and in the process will create a new vibe of

destination wedding. We will act as the trend setter in the market from clothes to venues and most

importantly the Bride and Groom will cherish their most amazing moment of life with us. Gradually

this business will grow and cover the whole country or at least that is our intention for this service.