Situation Analysis:

Syntonizoun’s ( what is the significance of the name? ) is in the beginning stages of its first year as an event coordinating company, headquartered in Glendale, AZ. By utilizing technological advances Syntonizoun’s will be able to reach a vast consumer base. With an explosive growth in population, the market in Glendale is flourishing. There is an increased demand for project managers. By implementing contracting operations with vendors across the Phoenix area, Syntonizoun’s will be able to integrate multiple product services such as wedding, reception and graduation coordination’s for people of all ethnic backgrounds.

Market Summary:

Syntonizoun’s business is structured under sole proprietorship with an EIN of 12-3456789. Located in the vicinity of West Glendale, AZ, home of the Phoenix Cardinals Stadium, Syntonizoun’s operates out of the multi-tenant office building, Westgate Garden Offices. Syntonizoun’s is tailored to coordinate and organize nearly any occasion. As the city continues to develop, the demand for event planners is increasing. By contracting with local organizations across the greater Phoenix area, Syntonizoun’s can expand their versatility to target a broader demographic. Also, with the rise in cultural pride and recognition, event management is experiencing an escalation of ethnic-focused celebrations.
Target Markets:
• Weddings
• Birthdays
• Receptions
• Graduations
• Funerals
• Corporate Events

Market Demographics:

Characteristic of Syntonizoun’s clienteles are the following demographics and geographics considerations:
Geographics:
• Syntonizoun’s stretches across the entire Phoenix region. Utilizing the internet, local media and word of mouth, Syntonizoun’s caters to customers of all ethnic backgrounds.
• Target population number is approximately 1.5,000,000. (is this 15,000,000 or what?) You will need to have a more detailed population breakdown.
Demographics: Income levels will be critical
• Male and female consumer ratios are evenly balanced
• Consumer age range is 18-62, with a majority of consumers aged 21-46. Weddings experience a higher demand than any other events and ranges in age from early twenties to mid-thirties. Birthdays see the oldest and youngest users, with age occasionally dipping below the projected 18 years. Due to the versatility of receptions, they experience a wide-range of age spanning the twenties to fifties. Graduations generally witness late-teens to early thirties. Funerals experience a lower consumer rate; however, the age is commonly more advanced being later in life. Corporate also experiences a lower consumer rate, however, the age of this consumer is typically late twenties to late forties.

Market Trends:

• Preeminent in trends are eco-friendly, “green” events. Every aspect of the celebration originates within the local area. Every effort is taken to ensure nothing but organic product is used. The ambiance of the event reflects the earth conscious tones of the festivities.
• As a rite-of-passage in the Mexican culture, Quinceanera’s are high on the list of consumer products as Phoenix registers nearly 49% in Hispanic population.

SWOT Analysis:

Strengths:
• Knowledgeable employees, vigorous first-rate driving force, positive public relations, good market share, substantial rate of expansion for this business’s marketplace by 2018.
Weaknesses:
• . Inexperienced staff
Opportunities:
• Limited competition, favorable economic conditions, green meetings, local authority support, availability of state of the art infrastructures, corporate sustainability.
Threats:
• Growth of high competition, high rates, unavailability of vendors, increasing tax rates, other events taking place at the same time, safety issues at the event(s), lack of knowledge of regulatory compliance issues.
When the avenue between internal and external implementation effectiveness is dropped, the channel between marketing capabilities and external implementation effectiveness is strong.

Competition:

Competition is limited in the greater metropolitan area as most vendors are situated in the far east valley where white collar consumers reside. The area this event coordinator wants to open business in is a recently developed high-end business community in the far west valley that is seeing entrepreneurs opening businesses that are normally less prominent. This area, under development for almost five years, is showing great promise for advancement.
Event coordinators in this area are less than 1% at this time and of those, most coordinators are geared towards children’s’ events. The few left who do events concentrate mostly on weddings, and they work on one or two specific areas with limited vendors at their disposal. Their positions in the area have been of average quality due to lack of competition to date. Most of the people in this metro area coordinate their own events due to lack of event coordinators who offer all-encompassing services. Their establishments are successful in this area of business, however their future is limited due to the area’s rate of acceleration. Details, details, details. If there are o competitors generally there is no business so I think there are competitors and you haven’t found them yet. Who are they, what do they do, who is the best?

Product (Service) Offering:

There are very few businesses that offer the services this business offers without the customer having to seek out the same service 25 to 50 miles away. This establishment will offer event services including securing optimal vendors for the client who will offer their services at reasonable costs without them having to go out and look for them separately. Services this establishment will secure for the client include appropriate venues for the occasion and necessary options that the occasion may call for, such as florists, DJs, make-up artists, beauticians, photographers/videographers, food & beverage vendors, etc. Budgets will vary for each client and the event planner will work within the client’s limitations. Although the target audience will be toward blue collar events or better, no client will be turned away due to size or budget constraints. This business is conscious of various budgets and will offer the best they can to give an optimal performance to every client because if, satisfied, the client may return to this business when they are more financially capable, or/and they may send other clients to this business.

Keys to Success:

The most important aspects of this business enterprise are market performance and financial performance. Market performance is the extent which this business venture is considered necessary. Desirable goals are high customer attainment rates, sales revenue growth, and market share in the target marketplace. The financial cost to benefit conclusion being sought is the business’s market performance. This will be seen in profit, margins and returns on investment. Marketing capabilities are directly related to the effectiveness of internal and external marketing strategy implementation.

Critical Issues:

Media:
• Media plays an important role in getting word out to consumers, such as print via local newspapers and trade journals. Magazines such as Time, Newsweek, People, etc. are good places for this business to advertise. Press releases, particularly in the start-up phase, will be utilized.
• Invitations to local businesses for a tour and introduction of the company will be offered, and perhaps a one-time reduced rate by Syntonizoun’s will be offered to prospective clients to encourage them to try out Syntonizoun’s services. Pens with the business name printed on them will be offered.
• Old fashioned as it is, word of mouth and telephone are still trademarks of advertising today, as is telemarketing.
• Radio and television commercials will help get the word out. One of the most affluent electronic communications is the internet. So many people “surf the net” when they are taking a break from work or the hum-drum of the day that net advertising is very likely to catch their attention. Facebook, Twitter, MySpace, Yahoo and Google are popular internet sites that people check out frequently.
• This business would provide, for a limited time, free ad space on Syntonizoun’s website where sponsors and clients can promote their products and services. Syntonizoun’s will provide a space for online registration as well.
• Electronic signs glowing are especially attractive in the dark hours and catch the attention of people passing by them, and the most current billboards, electronic billboards, capture the attention of pedestrians and drivers alike. (That will be a future advertisement which will wait until the business is a bit more grounded financially).
• Signs, whether in print or electronic, on busses, trains, automobiles, and airplanes capture peoples’ attention.
• Publicity events are another means to promote Syntonizoun’s sponsors and clients by bringing real people out into the open so prospective consumers may put a face with a name.