Some aspects of the industry are highly saturated which is why we have a plan

Some aspects of the industry are highly saturated

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Some aspects of the industry are highly saturated which is why we have a plan in place to remain competitive within the industry. Because we are currently servicing two different generations, Generation Y/Millennials (born 1980-1994) and Gen Zers (born 1995-2015), we will continuously be revamping our services to cater to our changing clientele and evaluating the differences between what older generations preferred in comparison to what our younger clients prefer in terms of product and service offerings. We plan to offer incentives to returning clients as well as offer a higher, more personalized value of service than our competitors which are similar to “wedding factories” and like shopping at a “big box store” where service is not tailored to each client’s needs. We will stay abreast of changes in the market allowing us to tap into the
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PATANE’S PARTY PLANNING 3 newest trends before our competitors. Bonura Hospitality Group is our largest competitor in the area. They currently own four full-service wedding and event venues, two restaurants that offer a slew of event services and most recently they built Water Club, which hosts their luxury one, two- and three-bedroom apartments (Bonura Hospitality, 2015). They have been established in the event business since 1982 and have been growing ever since. Though, how big is TOO big? Their operation is spread out over 2 counties and their locations host multiple events at the same time. Though their services have “wowed” guests for years and they have the business down to a science, clients that choose this route for their event will subsequently end up with a cookie cutter result. Patane’s Party Planning offers a more personal, one on one planning experience versus the check list offered at these larger operations. Bonura is not a publicly traded company therefore no exact figure is available to the public to use for determining their market share. It is
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  • Fall '16
  • Mr.Kinkle
  • Event planning, wedding industry, Party Planning Marketing Research and Evaluation

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