1 / 47

Baylor Balloons and Flowers

Baylor Balloons and Flowers. Background Information. History. Originally established on Speight Avenue/11 th St. Acquired by Kathy Dove in 2000 Moved to Bagby Ave./4 th Street Hours: M-F 9 a.m. to p.m. Sat 9 a.m. to 12 p.m. Closed Sunday. Scope & Purpose.

zandra
Download Presentation

Baylor Balloons and Flowers

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Baylor Balloons and Flowers

  2. Background Information

  3. History Originally established on Speight Avenue/11th St. Acquired by Kathy Dove in 2000 Moved to Bagby Ave./4th Street Hours: M-F 9 a.m. to p.m. Sat 9 a.m. to 12 p.m. Closed Sunday

  4. Scope & Purpose Meet unsatisfied niche of student population Mission statement: To provide quality, beautiful floral arrangements to members of the Baylor and Waco community. Also offers other merchandise that complement floral purchases. 100% satisfaction guarantee on all floral and gift items.

  5. Major Products and Services Offered Cut flowers Floral arrangements Potted plants Helium latex/Mylar balloons Gourmet fruit baskets Plush animals Candles Sorority paraphernalia Chocolate truffles Delivery service

  6. Retail Establishment Layout Main cut flower displays Refrigerated cooler Merchandise displays Payment counter Design area Consultation area

  7. Managerial Structure Owner Student Employees Delivery Designers

  8. Customer Environment

  9. Target Markets • Baylor Students • Most homogeneous group • Baylor Faculty • Parents of Baylor Students

  10. About the Purchase • Two ways to purchase • In Store • Online • Primary use • Gifts • Decoration

  11. Trends • Internet • Social Media • Increase interaction with customers • Easy and free • Online ordering • Increase retail range • Customers see products

  12. Contact With Customers • Social Media • Interaction via Facebook • Daily & Weekly promotions • CRM • Gather information from online sales • In store

  13. Competitive Analysis

  14. Major Competitors Other Florists in Waco Grocery Stores Online Flower Shops

  15. Waco Florists • Competition based on history and internet presence • Baylor Flowers, 35 years • Reeds, 80 years • Croziers, 50 years • Rosetree, 20 years • Bloomingals, 8 years • Specialized arrangements, typically more expensive

  16. Grocery Stores • Simpler, less expensive arrangements that customers must put together themselves • HEB • Wal-Mart • Target • Not always the high quality that can be provided by a florist • No internet presence

  17. Online Florists • Similar arrangement styles and pricing as brick-and-mortar stores • 1 (800) Flowers • ProFlowers • FTD • TeleFlora • Allows customers to order anytime and provides an easy, efficient system • Cuts down on human error in information input

  18. Specialized • Croziers • Bloomingals • Reeds Inexpensive Expensive • Rosetree • Baylor Flowers • 1 (800) Flowers • FTD • HEB • Target Generic • Wal-Mart • ProFlowers Market Position

  19. Market Position Similarly placed with other Waco florists and online ventures More expensive than a supermarket Overall position is positively placed among competitors

  20. External Environment

  21. Economic Stability • Floral industry as a whole falling by approximately 3.6% yearly for the past 5 years • Threats by supermarkets and online ventures • Diminishing disposable income due to economic recession and cutting spending on non-necessities • Florists cutting prices by up to 70%, creating a ripple effect on loss of revenue • Need to keep up with change in technology and stay price sensitive to stay in operation

  22. Political Issues • International tariffs with Colombia, who holds 65% of imported flower market, and Ecuador • US/Colombia FTA signed April 2011 will phase out tariffs over next 10 years • National Floriculture and Nursery Research Initiative • $6.25 million per year • Improve product quality and enhance competitiveness • Improve crop production tools • Provide protection against pests and diseases • Promote environmental stewardship

  23. Legal Issues National Antitrust laws Americans With Disabilities Act Taxes & transport fees

  24. Regulatory Issues • Quarantine 37 • Targets horticulture and livestock that could bring invasive diseases and pests at port • Florists must deal with reputable growers to insure they get the supplies they need

  25. SWOT Analysis

  26. Strengths • Name with “Baylor” in it • Provides affiliation with school • Location • In “Baylor Bubble” furthering school connection • Quality • History • In business for 35 years with a solid reputation • Sponsor of Baylor Athletics

  27. Weaknesses • Advertising • No strong, effective advertising campaign to draw in new customers • Lack of Baylor Directory • Hard to target parents with direct mail • Small Market • Strong competition from local florists • Grandfather Clause • Forced to keep “Balloons” in name which could convey the idea of lower quality service

  28. Opportunities • Social Media • Reach largest target market, students, more successfully • More options than traditional advertising • Online Presence • Unified Appearance • Current logos not cohesive • US/Colombia FTA • Pass tariffs on to customers

  29. Threats • Loyalty to Other Florists • Many historical florists in Waco that clients have stronger loyalties to • Florals are a relationship business • Online Retailers • Pricing and convenience • Grocery Stores • Reliance on Disposable Income • Cannot control economy but can price to continue to attract customers

  30. Major Marketing Issues

  31. Product Mix Wide range of products, not just flowers Website increases variety of flowers carried Offers inexpensive and highly priced flowers

  32. Advertising Difficulty marketing to students and faculty Heavy advertising during Homecoming and Parents Weekend Lack of uniformity in advertisements

  33. Research Needed Facebook statistics Twitter statistics Web site statistics Market research

  34. Recommended Changes Word of mouth campaign by Utilizing Facebook and Twitter more efficiently Reach students and faculty more aggressively Create homogeneous advertisements Handcuffed by lack of funding

  35. Priority of Issues Confronting the Company

  36. Company Name One of few with “Baylor” in title Remove “Balloons” Make name simply: “Baylor Flowers”

  37. Technology Company website Established Facebook account In process of setting up Twitter account

  38. Action Areas and Solutions

  39. Product Issues Products vary all the time Need to have staple products

  40. Pricing Issues No set prices Based on shipping costs and tariffs Be more “student-friendly”

  41. Advertising and Promotion Issues No access to Baylor students’ home addresses For online purchases, suggest e-mail list Facebook, Twitter The Lariat, Waco Tribune-Herald

  42. Specific Promotion and Marketing Strategies • Facebook • Increase number of fans • Utilize page to dost daily deals and specials • Post pictures • Twitter • Updated more frequently than Facebook • Daily deals • Trivia questions • Retweets • Lariat • Advertisement • Coupon Thursday • Direct e-mail • Newsletter • Promotions • Reminders

  43. Ad Concepts – New Logo & Print Ad

  44. Ad Concepts - Newsletter

  45. Promotional Strategy for Each Segment • Social Media • Students • Print Media • Students & Faculty • Customer Database • Parents • New Logo • All Segments

  46. Goals and Expectations Higher in-store traffic Larger promotions Increase orders by 10% for next year

  47. Questions?

More Related