2. +
• Economy & Retail Industry
• Current Trends
• Marketing Analysis
• SEO, Website, & Social Media
• Keeping the business in the family
• Selling the business
3. +
Industry Analysis
Economy & Retail Industry
Current Statistics
• GDP grew 2.7% (Q3 2012)
• Unemployment down 7.7%
• Consumer spending up 1.3%
Outlook
• Conscious consumer
• Retail technology key
• Renewed corporate profits
• Increase in discretionary income
4. +
Industry Analysis
Economy & Retail Industry
Industry Overview
• Sector category: Misc. Store Retailer
• Party décor sales
• Rental - Weddings, corporate events
and banquet equipment
• Sector worth: $2 billion (approx.)
• Revenues down nearly 0.3% per year
• Seasonal sales rising - Halloween
Source: Ibisworld.com
5. +
Industry Analysis
Recommendations
Strategies to get ahead
• Lean operations
• Improve customer experience
• Multichannel shopping
• Reintroduction of discounts
Current Trends
• Paper Decorations
• Customized Linens
• ‘Educore’ (educational décor)
Source: Deloitte - Retail Industry Outlook
6. +
• Economy & Retail Industry
• Current Trends
• Marketing Analysis
• SEO, Website, & Social Media
• Keeping the business in the family
• Selling the business
7. +
Marketing Plan
SWOT Analysis Internal
External
Strengths
• Certified Balloon Artist (CBA):
Only 2300 worldwide
• Still has helium to use in
balloons
• Innovation and growth
Weaknesses
• Awareness of Party Worlds’
location
• Website could use some
updating
• Social media presence
Opportunities
• Balloon specialty - an advantage
• Halloween is growing every year
• Dominant social media
presence
Threats
• Local competitor Party Time
• Party City – A national party
store with big awareness
• Unpredictable economy
8. +
Marketing Plan
Porter’s Five Forces Analysis
Attractive Forces
• Bargaining power of suppliers
• Threat of new competition
• Intensity of rivalry
Unattractive Forces
• Threat of new substitutes
• Bargaining power of buyers
Industry
Rivalry
Bargaining
Power of
Buyers
Threat of
New
Substitutes
Bargaining
Power of
Suppliers
Threat of
New
Competition
9. +
Marketing Plan
Marketing Mix
• Keep in mind the retail products
and rentals the business carries
• Respond to Party Time with
competitive price
• Increase market coverage
through social media/website
• Advertising is a key strategy
10. +
Marketing Plan
Marketing Warfare
• Can’t win with brute force but
superior strategy
• Implement the flanking technique
• New variation of product/rental
service
• Use CBA as an advantage
• Marketing warfare can help with
competitive edge over Party Time
11. +
Marketing Plan
Product Diffusion Curve
• Innovators – well informed risk
takers, try unproven product
• Early Adopters – begin to purchase
product, educated opinion leaders
• Early Majority – careful customers,
avoid risk, recommendations from
others
• Late Majority – skeptical, acquire
common product
• Laggards – avoid change, traditional
alternatives no longer available
12. +
Marketing Plan
Search Engine Optimization
(SEO)
• Gives the opportunity to improve
sections of a website
• Help users and search engines
locate the website
Proven Keywords
• Rental
• Occasion
• Party
• Celebration
• Supplies
13. +
Marketing Plan
Website Recommendations
• Delete one of the websites
• Change font to just one or two
main typefaces
• Focus on title
• Enhance social media presence
• Update pictures; make sure they’re
of high resolution
16. +
• Economy & Retail Industry
• Current Trends
• Marketing Analysis
• SEO, Website, & Social Media
• Keeping the business in the family
• Selling the business
17. +
Succession Planning
Keeping the Business in the Family
• Failure rate – 80%
• <8% handed over to next generation
‘FAIL TO PLAN’ = ‘PLAN TO FAIL!’
18. +
Succession Planning
Recommendations
Identifying the ‘right successor’
• Start early!
• Involve all stakeholders
• Family participation will catalyze
emergence of a ‘leader’
• Train the successor
• Manage inheritance
Control
Career
CapitalConflict
Culture
The Five C’s of Planning
19. +
Succession Planning
Selling the Business
Valuations
• Market vs. Perceived Value
• Raising capital to grow
• Estate & inheritance planning
Asset-
based
Approach
Liquidation
Value
Adjusted
Net Book
Value
Replacement
Value
Book Value
