I think that the assignment being set out this way was to my advantage, as it helped me not leave everything to the last minute and procrastinate. One thing that I do regret doing is leaving my report to the last minute, i think that next time i should start my report as soon as the second part of the assignment was due, as it will make me stress much less, and. I did try my hardest though, and I do believe that I deserve the best possible mark i can get. Overall I believed i achieved what I planned to and was glad that I was able to hand everything in on time, despite the fact of starting my report late, i think that doing everything else prior to the report such as objectives an strategies. I believe that my teacher done a great job of explaining my assignment as I was able to do it all with no problems, and I was able to fly through it as it was explained properly and in depth. Cite This Essay to export a reference to this article please select a referencing stye below: Essays,. Marketing plan of a wedding reception venue business.
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Price is one of the most important things when you have other competitors, by having cheaper prices customers will come to your reception rather then the competitor's receptions, low and affordable prices will be offered at jay harbour, packages will also be offered allowing customers. However, prices will increase and decrease according to the prices of competitors. Product refers to the service of the business and what the business has to offer, jay harbour offers many services including entertainment, good music, open bar, great view, valet parking, and much more. Place refers to where the business is located, the area that jay harbour is located in is Darling Harbour. With an amazing view of darling harbour and the water, and an alluring atmosphere and amazing breeze, it report is very hard for jay harbour to not become the number one wedding reception in the area. Promotion refers to ways in which the business will promote itself, jay harbour will maintain consumer awareness and interest towards Eternal Happiness. The business must keep advertising through media, suppliers, provide special offers and many more in order for it to stay competitive within the market. Finance financial Forecasts revenue statement sales revenue 460 000 cogs opening stock 50 000 Purchases/income Closing stock Gross profit 240 000 Expenses Advertising 5 000 Salaries and wages 150 000 Insurance 3000 Bank charges 400 Interest paid to banks net profit 71 600 This indicates. Balance Sheet For jay harbour current Assets Cash at Bank Accounts Receivable Stock non-Current Assets Property Equipment Total Assets 227 000 Current liabilities Bank overdraft Accounts payable non-Current liabilities loan Total liabilities 134 000 Owners Equity capital Profit Retained Total liability and owners equity 227. I was able to do all my research and gather all my statistics and information, and put them together before handing in my assignment, i did not stress, as everything was done according to plan until the due date.
Joanne will not spend money on things that aren't needed, money will be spent on what customers need not what joanne needs, money will not be spent on things that make joanne's business "look good" such as a garden company car, or a fancy office, instead. Joanne will make sure that all customers are treated with care, and are satisfied, the happier the customers are, the bigger the business will become, as they will help promote by good words-of-mouth Competition There are many surrounding competitors within the market which have been. Joanne has come up with many strategies in which to compete with its many other competitors. Joanne offers multicultural services, from foods, to themes, music and much more, majority of the other venues offer a minimum amount of cultures. Jay harbour, also has a view like no other, the amazing water view and view of the harbour will attract many customers. Joanne's prices are also very affordable, and suitable for the amount of services one will receive if they decide to have their wedding at jay harbour. Easy access in and out of the venue is also an advantage, as many other competitor venues do not have these elevators and escalators. Marketing Strategies The marketing strategies include product, price, promotion and place.
This is so that the people with the top skills will be hired, and so that they can continue developing their skills and knowledge, also so that the employees stay motivated and productive within the business. Waiters/Waitresses - twelve needed qualifications Must be neat and tidy polite, well-mannered and able to communicate well with people a good service attitude Able to work in a team A good memory in order to remember which customer ordered which dish Must have good physical. Qualification - alcohol beverage licence Experience - experience of 1-2 years within the alcohol industry required Chefs - four needed qualifications leadership skill. Food preparation and presentation skills Financial management - able to manage finances within the kitchen Able to cook a variety of multicultural foods Works well with others Adaptable and able to work well under pressure good communication skills qualification - certificate or college degree from. Experience - 3-4 years of experience within the chef industry required Marketing Market Analysis Customers The target market of this business is obviously people of all ages who are looking to celebrate their marriage. Joanne's business is willing to cater to any customers wants and needs. The Choice of the venues was made between the areas listed in the table, in order to come to a final decision of where the business will get the most customers; population statistics of the areas was gathered. It was obvious that a larger population lives in darling harbour, also, the median age there is the youngest of all the median ages in the other areas, this another advantage as it is the younger people who usually want to get married. Market size and trends joanne aims for her business to expand and hopefully one day turn into a larger business, she aims to create more function rooms in order to cater for other occasions, and also remarkable rooms in which photographs can take place.
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Joanne is looking to cater for any type of wedding, from the traditional wedding, to the modern wedding, she is willing to accommodate for small and intimate homework weddings with around 50 guests, to larger celebrations including up to 300 guests. Professional and friendly staff will be hired in order to ensure that every customer receives a student day that they will remember. Joanne aims to take hold of all the stress which may be felt by the customers, she will leave them all free to relax and enjoy their special day at her venue, she will have a plan of approach which will help not only the. Joanne will offer a great service, superb food, personalised service, divine wines and alcohol, and unforgettable entertainment in order to make the weddings a magical and flawless occasion. Joanne's will provide easy access both in and out of the reception including both weal chair access and elevators. The venue will overlook darling harbour, and will also include a spectacular water view. A valet entrance and a remarkable walk for the entrance of the bride and groom will be included in order to make the wedding feel more special and exceptional.
Table setting wills be offered in numerous types, themes of the wedding are also able to be chosen according what the customers want, floral arrangements will all be made, and food and decorations will be offered in a variety of choices, and in many different. Joanne's Business will be run as a multicultural business, anyone no matter what culture they are a part of, will be able to experience the wedding of their dreams. A bar will be provided at the reception, a wide range of alcohol including many wines and champagnes will be provided. Couples have a choice between having their guest pay for the alcohol at the bar, or having an open bar, meaning the couple must pay a certain amount of money for the unlimited drinks that will be given to guests on the night. Personnel Requirements and skills joanne's business is a small business, meaning under 20 employees will be hired, they will all go through the steps of the human resource cycle, including acquisition, development and maintenance.
Good Reputation is the first main objective of joanne's business, joanne aims to start up her business with a good reputation, and maintain and improve the reputation as the business grows. Joanne is aware that she is not able to manage her own reputation; however it is possible for her to strengthen. Strategies that joanne will take up in order to have good reputation include: Engaging and starting up appealing advertising campaigns joanne will pay a few loyal people who she is on friendly terms with to write blog posts and advertise her wedding reception on facebook. Joanne can only do this and expand her business if she is financially stable enough within the future years. Strategies that joanne will carry out in order to expand her business in the future include: Not spending money on things that aren't needed, money will be spent on what customers need not what joanne needs, money will not be spent on things that make. She needs to do this in order to keep them motivated and stay doing their jobs to the best of their ability Strategies that will be carried out include: having a safe working environment giving suitable and fair wages and payments to employees giving employees.
Joanne aims to cater to many different cultures in order to have a variety of different people using her wedding reception. The business will be a bigger success if it is for many cultures rather than just one or two. Strategies that will be carried out include: Hiring chefs that are able to cook spectacular multicultural food being able to design the reception according to cultures of people being able to design a whole wedding that includes the theme of the desired culture being able. Joanne aims to give customers a night they will never forget. The strategies that will be carried out include: Creating a dynamic atmosphere Offer great food Unforgettable entertainment Planning the wedding for the customers from beginning to end leaving the customer stress free operations Description of the product or service joanne's wedding reception is a wedding. 'jay harbour' is the name given to the business; it is a brand new function centre which is located at 150 day street, darling Harbour.
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Catchy name, overlooks Harbour, delicious food, great Service. Good music and entertainment, spectacular Water view, target market for all ages. Unique selling points, weakness, small Business, new Business. Joanne hasn't opened up a business before. Not familiar with the industry, unlimited liability, sole trader business meaning joanne is personally responsible for all financial obligations. Limited Funds, limited Reputation, opportunities, increasing number of fruit couples moving to the area. Geographical Location, well established position, huge amount of couples looking to get married In the city of Sydney. Social Interests, threats, other more experienced businesses in the area. Large amount of competitors, stronger promotions by competitors Competitors have advertised their business and have been running for a longer period of time market Demand Economic Conditions Business Objectives and Strategies Each business aims to achieve specific objectives and strategies, an objective is a measurable.
It will help the business organise its three main aspects, these are, marketing, production and movement management finance. The business plan will make sure that joanne's wedding reception will be run successfully, organised and to the best of its ability. The business plan is very important and of great significance of any business, whether it is for future expansion of a business or the development of a new business, a business plan must be written. A business that fails to plan, plans to fail. Situational Analysis, swot analysis, swot analysis is a strategic method used to evaluate and state the strengths, weaknesses, opportunities and threats involved in the business, within both the internal and external. Every business needs a swot analysis in order for it to be prepared for the present and the future, the swot analysis for 'jay harbour' is listed below. Preferred location of the majority of the public. New and Spacious, caters to all needs of couples.
for the financial obligations of the business. There will be fewer than 20 employees hired, as it is only a small business. The target market of this business is obviously people of all ages who are looking to celebrate their marriage. The prime function of the business is to make sure that all special occasion are just the way couples want it-elegant, memorable, and effortless, also that the business is a very successful business and advertised as best as possible, not only in the media, but. The business hopes to achieve all its goals profitably and successfully in order to satisfy all guarantees and pledge's to stakeholders. Purpose Of plan, a business plan is as important for starting a business as a key is to a car. A business plan will provide the firm with a clear direction for the future, and will organise the business. It sets out goals for the business that want to be achieved in both the long term and in the short term.
Joanne's wedding reception has many Strengths, weaknesses, opportunities, and threats which are listed in the report. Each business aims to achieve specific objectives and strategies, an objective is a measurable statement of bill what has to be achieved, where a strategy is a way in which the business aims to achieve its objective. Joanne's wedding reception is a business which aims to accomplish both its objectives and strategies to the best of its ability. Joanne's wedding reception aims to achieve its ultimate goal of success through its five main objectives and strategies. These objectives and strategies are also listed in the report. Business Description and Ownership. Joanne's wedding reception is a business that will cater to all needs of couples who are looking to get married and would like to celebrate with loved ones afterwards. 'jay harbour' is the name chosen for the business, it is a brand new function centre located at 150 day street, darling Harbour; it is very spacious and has a spectacular water view and view of the entire harbour, it will deliver delicious food, great.
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Print, reference this, published: 23rd March, 2015, joanne is nashville looking to start up a wedding reception venue, she would like to open up a small business, as a sole trader. A business plan is one of the most important aspects when starting up a business, The business plan will make sure that joanne's wedding reception will be run successfully, organised and to the best of its ability. It will help the business significantly with time management, as it will help both the business and staff manage their time and stay organised in order to keep the business running efficiently. The plan will explain all the strategies and objectives of the business, this give joanne a huge understanding on what she will be expecting and how she will go about in order to help the business successfully achieve its goals. The business plan will give joanne an in depth understanding on what is going on and what will happen within her business, some of the things it will provide include a description of the services that will be provided, the personal requirements and skills needed. A business that fails to plan, Plans to fail. Swot analysis is a strategic method used to evaluate and state the strengths, weaknesses, opportunities and threats involved in the business, within both the internal and external. Every business needs a swot analysis in order for it to be prepared for the present and the future.