Ultimate Party Planner in Canberra - Case Study Example

ULTIMATE PARTY PLANNER Student name: Institutional affiliation: ULTIMATE PARTY PLANNER INTRODUCTION Ultimate party planner is a party planning company that seeks to be started up in Canberra. The focus of the business will be mostly concerned with kid’s parties and other family celebrations. The business intends to be set up in the city of Canberra. Through this, it intends to counter the competition that is present and put in place the adequate measures and controls to see to it that there is progress in the operations. This will be through fitting into the market and solving and meeting the market needs and demands appropriately in a profitable manner. Over the recent past, there has been a boom and an increase in the demand for party services by the Australian market. The move for the creation of the business is therefore a timely move which will yield great returns for the business and for its continued development. INDUSTRY OVERVIEW Canberra is the capital city of Australia. It has a population of close to 400,000 people. Is has also earned the status of being Australia’s largest inland city. Over the years, the population of the city has been on the rise. This has also given a rise to the demand for a reliable party and events organizing business. With this, this is a market niche that the business is coming in to cover. The city is made up of a population that is majority young. A young population means that it is comprised mostly of people in family lives. This is an encouraging factor in that the company which seeks at the rendering and the planning of parties mostly for kids and families. It will benefit a great lot from the young population that makes up the city of Canberra. The increase in the population that is being witnessed in the city is indicative of increase in the demand for events organizing functions. This therefore suits the job description of the business. UNCONTROLLABLE ENVIRONMENT ANALYSIS The city of Canberra is located at a mountainous region with many large portions of forest cover. It has also taken up the going green initiative and as a result it has been nicknamed the bush city due to the many lawns and yards that are in the city. The region around the city however has a dry continental climate. It is a warm city and it receives the third lowest amount of annual rainfall in comparison to the other cities in the country. This weather suits and well acts as a perfect base for the setting up of day time parties without the threat of being ruined by rain or windy conditions. This is another reason behind the desire of the business to venture into the city. A warm climate is the perfect weather for the planning and organizing of parties in the city. This is for the outdoor parties which are the ultimate favorite of the people of Canberra. The environment and weather serves as a perfect place for the planning and hosting of day events which will incorporate even the children having fun. This is mostly so on weekends and holidays. According to an analysis of the people of the city of Canberra, they have a desire for embarking on parties. This is exemplified by their young and enterprising nature. Young people are fond of parties and the people of Canberra are not different in any way. They are also party lovers. The business, through its intention to fully focus on the offering of events and parties for the kids and families, will be well suited to meet the demands of the people. This will make the company to have a grip on the people of the city and through this; the returns that will be made from the organizing of the parties will be many for the company. Through rendering the services to the delight of the customers, the business will be the preferred party choice of the people of the city. The dynamic nature and the vigorous culture of the young people that make the city makes it an investment which will bring returns that cannot be imagined by the company or its management. COMPETITION ANALYSIS The city of Canberra has one aspect that sets it out from the other city. This is an aspect that acts to the favor of the company. The event organizing business and market has very few competitors if any. This is attributable to the laws and restrictions that were imposed on the earlier days on such things as the ownership and purchase of property in the city. The restrictions were in place so as to reduce and control the population of the capital. This is from some vices such as pollution and congestion. This will act in favor of the business. This is because; it will liaise with the municipality to lease property on the city and lawns from where parties can be held. This is unlike the undertakings of other competitors who are in the other cities. They, on their side prefer to purchase their own properties from where they can hold the parties. The business will be therefore reducing the very neck breaking costs of purchasing land in the city and on the other hand renting and leasing which will be more affordable for the company. MARKETING MIX STRATEGY PRODUCT The business intends to deal with service provision to the people of Canberra. The main product therefore of the business is the party services that it seeks to render to the people of the city. This is well in line with the demand of the people of the city. The demand for a party organizing business in the market has necessitated the development by the company and the intentions to offer such services to the people of the city. Through this, the returns that will be derived from the company embarking on the rendering of the partying services to the people will be many and this will work to the ultimate better of the company. Parties are some of the most social activities that are embarked on by the people in the recent days. They offer as sense of relaxation and interaction among the people. The rendering of exclusive parties will therefor attract many people to the services of the company. MARKET MIX STRATEGY PLACE The city of Canberra is the most perfect place to set up the business. The first reason behind this is that it is comprised of a young population. The company has its objectives set on the rendering of the partying services to the kids and families in the city. The weather of the city is also another reason behind the success of the business in the rendering of the services. The city has a warm and dry climate. It also has minimal rainfall during the year. This gives room for the organizing of perfect out door parties all year round for the better of the people of the city. The city has another special attribute which sets it apart. The numbers of businesses that offer the same services are very few and they lack the relevant resources to well satisfy the huge demands of the market. As such, the company will use this to its benefit and this will serve for the better of its future and the returns that it will make. PRICE The people who make up the population of the city have an aspect in them that sets them apart from those in the other cities. This is the aspect that the people of Canberra have the highest disposable income as compared to any other people from the other cities in the country. With this, the pricing of the services that will be rendered will not be a tricky aspect for the company. This is unlike a case where the people have minimal amounts of disposable income. The business will therefore capitalize on this attribute and seek to make gains and returns from the disposable income of the people of Canberra. The people of the city also have the highest average incomes as compared to those from the other cities. This is the reason behind the large amounts of disposable income of the people of Canberra. The people will go an extra effort therefore to see to it that they get the best out of their hard earned money in such activities as parties. PROMOTION So as to create product and business knowledge among the people of the city, the business must embark on a rigorous promotion campaign. This is in order to make them aware of the existence of the company and the service that it renders. There are some different marketing strategies that the company can put to use in this. The first is personal selling. It can also use print and broadcast media to advertise its services to the people of the city. Sales promotion and use of flyers are also strategies that the company can capitalize on in the seeing to it that the knowledge is created about their services and the unique attribute that they present to the population at large. Revenues will rise from the increase in product and brand knowledge. CONCLUSION In conclusion, the idea of venturing into the Canberra market is a good one by the company. This is because it will reap from the benefits of doing so. Some of the benefits include increased returns and profitability. There are also several actors in the city that will go ahead to foster the development process of the company. They include the young population, the climate of the city, the absence of material competition and the high demand for the services in the city. The business will therefore thrive from the idea of embarking into the city of Canberra. REFERENCES Fitzgerald, A (2007). Canberra in two centuries: a pictorial history. Torrens, Australian Capital Territory: Canberra :Clareville Press. Gibbney, J (2008). Canberra 1913-1953. Canberra: Australian Government publishing Service. Gillespie, L (2001). Canberra 1820-1913. Canberra: Australian Government Publishing Service. Vaisutis, J (2009). Australia. Footscray, Victoria: lonely planet. Read More