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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.

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Presentation Transcript


History
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


Scope purpose
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.


Major products and services offered
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


Retail establishment layout
Retail Establishment Layout

Main cut flower displays

Refrigerated cooler

Merchandise displays

Payment counter

Design area

Consultation area


Managerial structure
Managerial Structure

Owner

Student Employees

Delivery

Designers



Target markets
Target Markets

  • Baylor Students

    • Most homogeneous group

  • Baylor Faculty

  • Parents of Baylor Students


About the purchase
About the Purchase

  • Two ways to purchase

    • In Store

    • Online

  • Primary use

    • Gifts

    • Decoration


Trends
Trends

  • Internet

    • Social Media

      • Increase interaction with customers

      • Easy and free

    • Online ordering

      • Increase retail range

      • Customers see products


Contact with customers
Contact With Customers

  • Social Media

    • Interaction via Facebook

    • Daily & Weekly promotions

  • CRM

    • Gather information from online sales

    • In store



Major competitors
Major Competitors

Other Florists in Waco

Grocery Stores

Online Flower Shops


Waco florists
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


Grocery stores
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


Online florists
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


Market position

Specialized

  • Croziers

  • Bloomingals

  • Reeds

Inexpensive

Expensive

  • Rosetree

  • Baylor Flowers

  • 1 (800) Flowers

  • FTD

  • HEB

  • Target

Generic

  • Wal-Mart

  • ProFlowers

Market Position


Market position1
Market Position

Similarly placed with other Waco florists and online ventures

More expensive than a supermarket

Overall position is positively placed among competitors



Economic stability
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


Political issues
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


Legal issues
Legal Issues

National Antitrust laws

Americans With Disabilities Act

Taxes & transport fees


Regulatory issues
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



Strengths
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


Weaknesses
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


Opportunities
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


Threats
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



Product mix
Product Mix

Wide range of products, not just flowers

Website increases variety of flowers carried

Offers inexpensive and highly priced flowers


Advertising
Advertising

Difficulty marketing to students and faculty

Heavy advertising during Homecoming and Parents Weekend

Lack of uniformity in advertisements


Research needed
Research Needed

Facebook statistics

Twitter statistics

Web site statistics

Market research


Recommended changes
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


Priority of issues confronting the company

Priority of Issues Confronting the Company


Company name
Company Name

One of few with “Baylor” in title

Remove “Balloons”

Make name simply: “Baylor Flowers”


Technology
Technology

Company website

Established Facebook account

In process of setting up Twitter account



Product issues
Product Issues

Products vary all the time

Need to have staple products


Pricing issues
Pricing Issues

No set prices

Based on shipping costs and tariffs

Be more “student-friendly”


Advertising and promotion issues
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


Specific promotion and marketing strategies
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




Promotional strategy for each segment
Promotional Strategy for Each Segment

  • Social Media

    • Students

  • Print Media

    • Students & Faculty

  • Customer Database

    • Parents

  • New Logo

    • All Segments


Goals and expectations
Goals and Expectations

Higher in-store traffic

Larger promotions

Increase orders by 10% for next year



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