Using Wedding Marketing to Find Your Market Position

By Janna Anne Johnson

To successfully market your wedding business you need to know who you are targeting and how you will reach them. Unfortunately, the wedding industry is so competitive that their can be any number of other wedding business striving to hit the same piece of the market that you are. So if you are to succeed then you will need to apply a wedding marketing strategy that gives you an edge and sets you apart from the others.

Essentially this means you will need to study your competition and find yourself a market position which appeals to a certain type of customer. For instance, if you make wedding accessories such as jewelry, veils and head pieces, you need to plan a wedding marketing strategy which will see your business appeal to customers that your competitors fail to. Studying your competitors could reveal some who make handmade pieces and those who sell more expensive ‘high end’ pieces. Prices will vary as will the type of accessories they sell. Your position therefore could be at the lower end of the market which is not so well catered for. Alternatively you could market yourself as an alternative business perhaps with an eco-friendly slant or as a custom designer.

Market position is often based upon price and the target market. Researching your competition will reveal their pricing policy and who their target market is. For instance, taking the example of wedding accessories, competitor A may market their products towards the expensive end of the market and younger brides; whilst competitor B will market products in the mid-price range and towards older brides. You could therefore position yourself either between these two or at the lower end of the market for brides on low budgets.

But what if you need to reposition yourself in times of recession or simply because your original position is not profitable enough for you? Repositioning yourself in the market will require you to review and possibly rewrite your original wedding marketing plan. Consider your current clients, how your competitors are doing and what are the current trends in the wedding industry – are wedding budgets getting smaller? How are your own sales figures doing?

Whilst adopting a whole new product range to fit with a new pricing and target market can be unrealistic, considering adapting your current offerings could help you to find a new market position, especially in tough economic times. If your brand and business identity is well established you could consider launching a new business selling your products at lower prices, think about a new website and special promotions in store. Give these products their own identity to distinguish them from your usual product range. This works with wedding services too especially if you can offer budget packages, for instance on wedding photography or catering.

 

Of course repositioning also works when times are good and instead of offering up budget or ‘value’ ranges you instead appeal to the higher end of the market. Consider both options within your wedding marketing plan particularly if you are just starting out and looking to find your perfect market position.

Janna Anne Johnson is a writer by heart who loves to write articles about wedding especially wedding marketing articles. She discovered the pleasure of writing through her daily journals way back when she was 10. Currently, she shows interest in composing articles which has to do with wedding marketing strategy.

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