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5 Moves to target and position
1. Couples who finally decide to tie the knot after a long wait
2. Who need to document their story3. An artistry that tries to capture or
understand the couple and the nature of their relationship and give it at a competitive price
4. Gap is other services focus on pricing and neglecting quality
5. The market size is P3B with BongVideos only having less than 1% niche due to the number of players in the market
5 Moves to mix and strategize
6. Pre-wedding and wedding videography services using HD camcorders with HQ-DVD output
7. 14 to 20% of premium8. Uses online marketing and search
engine optimization9. Available in Luzon, particularly
in NCR and Region V10. Uses a differentiation strategy
1. BongVideo’s primary target is..
• Couples 25 to 35 years old, part of the lower to upper B class who are getting married
• Artists, mostly have their own businesses or do freelance work, young families usually with a young child
• understand that marriage is not just an event but a milestone in their relationship
2. Couples need to Get Bonged!
• To have their day documented artistically and meaningfully.
• To have their videographer understand that their story is unique and would want a unique output and not just concentrate on current trends or styles of video editing
Why couples want to Get Bonged!
Effort to understand the couple and the dynamics of their relationship
The output or videos entices couples to Get Bonged!
The couples see the dynamics of their relationship/wedding and feel happy and satisfied
Couples expect from Getting Bonged!
• Effort: if the couple works well with the videographer, the expectation would be a videographer that understands and sees their dynamics
• Performance: if the video successfully reflects their style and relationship, the expectation would be a feeling of pride from a memento that would last
• Reward: satisfaction, happiness, nostalgia, pride, self-esteem from being together and reaching this new milestone in their lives
Couples choose BongVideos because of artistry, a fresh take on each video, price, and an awareness of the couple’s story
Couples expect a story of who they are as a couple that later generations could still watch
3a. Challengers to BongVideos
• Direct: MartinDV, Kris Katungan, Marvin Barbarona, Jason Magbanua, Threelogy, Phoeben Teocson
• Indirect: friends of the couple who have basic knowledge on videography and editing, DSLR cameras with video feature, iPhone 4, nokia N8
• Variables: income, price, style, quality, flexibility, artistry, brand
3b. Competitive Position Map
a)Price vs Qualityb)Brand vs Positioningc)Equipment vs Mobility
Mid-range Price for High Quality Output
Quality
Pric
e
Low High
Hig
hLo
w
Bong Videos
Jason
Magbanua
Threelogy
Kris Katungan
Martin DV
Marvin Barbarona
Kris Katungan
Martin DV Phoeben Teocson
Competitive MapJason Magbanua
Threelogy
Phoeben Teocson
Bongvideos
Martin DV
KrisKatungan
MartinBarbarona
InnovativeConceptStyleMusicEmotionStory ALL JASON MAGBANUA STYLEHeartSoulEquipmentLocationDestinationWeddingHigh Profile Weddings
ArtistrySaves moneyHigh Quality
4. BongVideos in a sea of wedding videographers
Bongvideos is the only service– that has the ability to reflect the personality of the couple
– that creates personalized poetry that goes along with the video
– that has emotion, heart, and soul
Other services focus on low price or high profile weddings though providing almost the same type or style of video for all clients.
5a. Wedding Industry at P39B
• Based on NSO data for 2004, there were 212, 236 marriages solemnized in Catholic churches
• Couples who marry in Catholic churches are usually the ones who spend more for a wedding
• An average wedding budget is P250,000.00 with only a fourth of the 212,236 that can afford the budget
• The percentage for video services is 8% • The total size of the wedding industry is P39B• The size of the videography industry for weddings is P3B
5b. The competition in the market
• High end video services can go up to P250,000 depending on the location of the wedding while low end services can only cost P2,500
• Well-known videographers can average about 2-4 weddings per week or an average of 18 weddings a month which also depends on the month of the year. Statistics show that April and January has the most number of weddings
• High end videographers occupy 39% of the market, 21% for mid market, and 40% for low-end videographers
5c. When the market Gets Bonged!
• Bongvideos officially began in 2008 with 2 clients.
• In 2009, the number of clients increased to 100%.
• In 2010, clients increased 350% or 18 clients. This year, Bongvideos also catered to destination weddings from Camarines Sur to California.
• Rates range from P18 to 45,000. Market share for BongVideos is very minimal because it is a start up and because of the number of players in the market.
6a. Wedding video services dominated by price range
• Three types: high-end, mid-range, low-end
What does it mean exactly?• Getting Bonged! means striving to compete with
itself. Its goal is to bring to life the couple’s story therefore its tagline of “Videos with emotion. With heart. With soul. Get Bonged.”
• Videos are quirky and nostalgic at the same time. It tries to mix artistic elements to the video to enhance the couple’s story but not to the point where it becomes distracting.
• The service is flexible enough to cater to the desires of the couple.
• The experience of getting Bonged is all about fun during and after the event.
7. Price is not a problem
• Bongvideos is priced at 14 to 20% of premium
• Prices depends on the services that the couple wants such as pre-nup, videography, video editing, and photo slideshows
• It prices itself slightly lower than the mid-range average
• What makes BongVideos unique is that it focuses on the couple’s story and not on their budget.
8a. How to Get Bonged!
• Website, google analytics, SEO, contests, forums
• W@W yahoogroup forums and Sulit.com.ph ads
8b. How others do it
• Wedding expos, exhibits, word-of-mouth, tie-ups with wedding planners
9. Where do couples Get Bonged?
EVERYWHERE!
As long as the couple shoulders travel expenses and accommodations
10. BongVideos seeks to be different
• In a sea of wedding video service providers, being different could be difficult
• But it is the only way to stand out
• Strategy is to bring the couple’s story to the forefront
• To attract couple’s who understand what getting hitched really means
5 Moves to target and position
1. Couples who finally decide to tie the knot after a long wait
2. Who need to document their story3. An artistry that tries to capture or
understand the couple and the nature of their relationship and give it at a competitive price
4. Gap is other services focus on pricing and neglecting quality
5. The market size is P3B with BongVideos only having less than 1% niche due to the number of players in the market
5 Moves to mix and strategize
6. Pre-wedding and wedding videography services using HD camcorders with HQ-DVD output
7. 14 to 20% of premium8. Uses online marketing and search engine optimization
9. Available everywhere10. Uses a differentiation strategy
