Chicory event management

Chicory event managementINTRODUCTIONEstablished at 2012Situated in Malappuram Chicory is partnership companyChicory is event management company The main services are wedding events and home delivery (food products)There are 24 employees working this companyPESTLEpolitical child labor issuenow days many political parties are giving contract to event management Government regulation regarding hygiene, health, and food regulation and food standards4ECONOMIC The gulf economy is booming so the people are having huge amount of disposable income people to spend more money in attractiveness of their functions.SOCIALPopulation growthLife style change certain cultures abhor certain food. For instance Hindus will not eat beef Muslims would not even touch pork. Recently most of the political parties arrive against luxury marriages

Stakeholders mappingThe main stakeholders are the chicory is owners, employees, consumer and suppliers

Competitor analysisThe main competitors are Eventia, olala and airlines Chicory is new comer in the marketThe main advantages of chicory are providing good service with comparatively lower price than competitors chicory has only little year experience in this fieldThe competitors are located in same area. Chicory only advertisement through social network Eventia is the market leader Every year Eventia organize more than 150 events .in the cause of chicory I found they only manage less than 50 events.

SWOTStrengthExperienced partners Experienced chef and employeesChicory is serving a vide verity of foods among the competitorschicory provide low price product with good quality when comparing other competitorChicory provides jobs for the unemployed peoples in local area

weaknessThe availability of skilled labourlack of capitallack of professionalism fail to attract the local customersThen lack of marketing chicory has a lack of experience in this fieldOnly focused in wedding and home deliveryporters five force bargaining power of supplies is low bargaining power of customers is comparatively high threat of new entrants is very high.BCG matrix chicorys star product is home deliveryCash cow is event managementCompany has no Question mark, Dog services

STRATEGIC OPTIONSchicory can open more new store in highly population place (forward integration )the chicory can cultivate raw materials like chicken farm, rice, furniture, vehicles(backward integration)they can alliance with the established marriage agencies (related diversification)Chicory can involve in social services, in their region no one is responsible for the local communitycreate an attractive and informative websiteAdvertise, to encourage more people within your existing market to choose your productChicory can offer wedding related services like bride and bridegroom personal services like designing, grooming, styling etc. Price discounting Chicory can also offer Honeymoon Packages

Suggested strategies MARKET PENITRATIONChicory can involve in social services, in their region no one is responsible for the local communitycreate an attractive and informative websiteAdvertise, to encourage more people within your existing market to choose your productChicory can offer wedding related services like bride and bridegroom personal services like designing, grooming, styling etc. Price discounting Chicory can also offer Honeymoon PackagesvisionTO BE NOMBER ONE EVENT GROUP IN THE NATION

MISSION

To develop long-term relationships with our clients, and provide high quality product or service in affordable price to the customers

Suggested structureStrategy objectivesFinancial perspectiveIncrease return on capital by 20%.Increase sales by 10% for next yearReduce company cost 10% each year

Costumers perspectiveImprove customer satisfaction.Increase customer retention rate.Acquire more customer

Internal perspectiveReducing manufacturing coast by 3% for next quarter.Reduce job turnover rates by 5%.Build a ware house.Future perspectiveImprove R&D competencies.Improve employee profitability.Improve logistics.Ensure full presence in online marketing.Empower the employees.Investing more in C.S.R for a sustainable growth.

ImplementationIn order To implement this strategy firstly call a board meeting and propose the new strategy and once the board gives the approval call up for the middle managers and let them know the benefits of the new strategy chicory is a service sector company the employees satisfaction is more important.