Nouveau Event Planning Essay Sample
- Word count: 929
- Category: competition
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Nouveau Event Planning Essay Sample
Campana is currently facing threat from existing competitors and new entrants. The threat of substitution is high when the competitor, Odyssey, can offer a similar or lower price-performance than Nouveau Planning. Although Nouveau Planning operates within a mature market, the lack of barrier can force Nouveau to lose its exhibitors to other entrants. Rivalry among existing competitors occurred due to the undifferentiated product and low switching costs. Nouveau Planning should approach competitive threat without losing any value in the market and involving any price competition.
Clarified Target Audience
In full capacity, the event is currently running with 200 exhibitors and fashion shows. Campana has been running very successfully with many supportive exhibitors. However, the number of participants has shown a decrease of nearly 100 brides over????. Campana needs to analyze the bride segments and determine the segment that will help her target them in the competitive environment. Focusing on the objective of the event could ensure that the proper audience will be identified.
Possible external cause of decrease in bride attendance
According to Windsor Census of 2006, the majority of age group which is under the age of nineteen represents 25% the entire population.  Controversially, the average age of the first-time brides is 26, the first-time grooms is 28. Aged 25-34, 11% of the Windsor population, are the group that is most likely to get married. Due to external factors of changes in the trends, Campana has lack of control over the decrease in the marriage certificate issued. Furthermore, Couples are waiting longer to get married. A couple takes up time to save money for their wedding and honeymoon which have the cost of $5,287 and $23,000 on average respectively.
Confusion created??? between Odyssey and Nouveau Planning
In addition to the threat of new entrants, Odyssey’s promotional strategy could harm Nouveau planning’s reputation. In the competitor analysis, the competitor held the exhibition show at the same location with partially the same client. Thus, brides often confuse on the difference between the two exhibitions. Some of the brides actually attend Odyssey’s exhibition show but thought it was by Nouveau Planning. This indicates the weakness and flaws of Nouveau planning’s promotional strategy. The promotion was easily being imitate by other competitors. Therefore, Nouveau needs to symbolize itself on promotions. (brand image, positioning)
Changing the dates – Changing the date for the exhibition to “destroy “the competitor.
Moving location – starting the exhibition show at Caesars Windsor instead of ???
Modify the Fashion Show – reduce the capacity for fashion shows to create more space in the exhibitions for more exhibitors
Hiring a personnel – hiring an additional associate in order to attract more brides to the exhibitions HOW?
Hiring a wedding planner/ coordinator
Nowadays, the spending behavior of brides has changed. The brides are willingly to spend more on their wedding to ensure a plan of perfection. Since almost all the brides are first-time customer, Nouveau could become the one-stop service. Nouveau Planning can hire a wedding planner or coordinator to offer free consulting services at the event for the couple on their wedding to bring in extra revenues. With help of wedding planner, Nouveau can ensure a special and unique of experience for the wedding guests. In this case, it would increase the level of brides and exhibitors satisfaction.
Promotional Strategy –
Nouveau needs to modify one of her promotional strategy on advertisement. Since there is not a significant amount of people listen to the radio, Campana should develop a different pre-show advertising strategy and post-show promotional activity. First, Nouveau should broaden their slogan on the postcard and websites to refer the event as the “BIG ONE”. Then, Nouveau needs to be more active to make customized offers to current existing brides accordingly to the known about the customers. This will not only save Noveau money on advertising on radio but also be able to produce an effective promotional strategy.
Modify the show
Over the years, Campana has been successful in running the exhibition shows. She has already developed a great value and reputation of the company. Therefore, she should not change the overall operational standards. Modifying the fashion show can potentially attract more exhibitors on the show. However, Campana should be careful on selecting the exhibitors. She could select more variety of exhibitors instead of having the same current exhibitors without outraging the current existing one.
The fashion show can be held in a small section instead of a big runway. On the other hand, to prevent any miscommunications, Campana should inform the current existing exhibitors before taking any further step. Nouveau needs to understand the importance of the action to the exhibitors. Focusing on customer relationship is the key to success on the exhibition shows. However, modifying the fashion could create more workloads for Campana since she operates the company alone. Sole-pr
Exhibit 1 SWOT analysis
· Established a strong reputation in the industry
· Strong potential customer base(waiting list)
· Owns 3 websites
· Maintained good customer relationship with exhibitorsWeaknesses
· Limited capacity
· Identical advertisement postcard
· Not addressing the threats
· Expand the exhibitor
· Third wedding show
· Develop “one-stop” service
· Canadian wedding industry remains potentially profitable Hire new personnelChange location Threats
· New entrants
· Decrease in number of people getting marryFocus on attendeesDevelop differentiation
Exhibit 2 Competitors Analysis
OdysseyProduct- Same exhibition shows
Place- Held 133 exhibitors, 66 of them host at Nouveau Planning as well Promotion- Aggressive advertising campaign, billboard, postcard, coupon Price- Lower or same price