Essays on Situation Analysis - Wedding Barn Case Study

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The paper 'Situation Analysis - Wedding Barn" is a perfect example of a marketing case study.   The assignment below will focus on the topic of “ WEDDING BARN” . This area of business is grown in the area and as such, Peter Bachelor and his wife Monica Engago will require this information for marketing forces. The information below starts with giving brief information regarding the overview of the business. This includes the size, growth and the various factors that lead to success in the industry. This information will help us gain a brief introduction and knowledge about the wedding business.

This will assist the couple in strategizing their marketing plan. This information is subsequently followed by a brief discussion about the uncontrollable environment that the business faces during its day to day activities. These are the PESTEL factors; that is the political, economic, socio-cultural and technological and the legal factors. This information is very important when creating a marketing plan for your business. This information also contains the macro-environmental competition factors as well as the type of competition that this organization is exposed to.

This information falls under the competitor analysis category which also contains the levels of competition. The customer or client analysis is also vital to carry out for marketing purposes. This information explains how large the target market is, the demographic shifts as well as where they are located. This information discusses the target market segments for the organization, their characteristics and how the target market and market segments were selected. We shall then conclude by discussing the SWOT analysis of the business. Company overview Peter Bachelor and his wife Monica Engago have inherited a rural property about 60 minutes from Canberra.

They have a large farmhouse with a barn which they have renovated to seat 200 guests plus an outdoor area which seats another 200. The barn can also be configured to just seat 50 -100 guests. The venue is close to a large dam which provides great options for romantic photos. They have bought 400 chairs and 50 tables at an auction for $ 10 000 and crockery, cutlery and cushions and table cloths for another $8000. they have to build a pavillion for $15 000.

They intend to hire decoration for weddings. Industry overview The wedding industry was recently started after World War 2 in America since most people were settling down with their families. When searching for information on the size of the wedding industry, we note that, even though there is a lot of cash in this industry, gowns denote only one section of the industry (Francine, 2002). It is a business that is made up of numerous smaller initiatives like dresses, caterers, wedding consultants, photographers, various beauty suppliers (hair, makeup), music, favors/bridesmaids gifts, honeymoon related, etc.

While the business as a whole signifies a lot of cash, each of the element parts is, however, much smaller some smaller than other parts (Julie, 2001). The growth of the wedding industry has been influenced by various factors. Access to resources such as labor and capital is one of the main factors that lead to the success of an organization in the wedding industry. Research by David, (2009) suggests that they make it easy for the organization to expand hence more profitability. It is also important to consider the needs of the consumer because the wedding is a one-day event that the customers do not want to forget.

Therefore, proper consideration of the consumer needs leads to success to an organization.

References

Thompson, J. and Martin, F. (2010). Strategic Management: Awareness & Change. 6th ed. Cengage Learning EMEA, p. 86-88, 816

http://www.strategicmanagementinsight.com/tools/pest-pestel-analysis.html

Rothaermel, F. T. (2012). Strategic Management: Concepts and Cases. McGraw-Hill/Irwin, p. 56-61

http://www.strategicmanagementinsight.com/tools/pest-pestel-analysis.html

David, F.R. (2009). Strategic Management: Concepts and Cases. 12th ed. FT Prentice Hall, p. 104-114

http://www.strategicmanagementinsight.com/tools/pest-pestel-analysis.html

Johnson, G, Scholes, K. Whittington, R. (2008). Exploring Corporate Strategy. 8th ed. FT Prentice Hall, p. 55-57

http://www.strategicmanagementinsight.com/tools/pest-pestel-analysis.html

Dina El Boghdady (May 25, 2003). "For Love and Money Amid Economic Sickness, Bridal Industry Radiates Health," Washington Postretrieved from:

http://www.loc.gov/rr/business/wedding/

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