ARAM COMPANY

BUS345
30th July 2018
Prepared By
Vu Nguyen Quynh Thu
Huynh Thi Ngoc Tram

Lecturer
Mr. Kang Seung Kwon
 Table of Contents
I. BUSINESS DESCRIPTION ................................................................................................... 3
1. Background of business ....................................................................................................... 3
2. Product or service and target customers .............................................................................. 3
3. Business model .................................................................................................................... 4
4. Function(s) of Business........................................................................................................ 4
II. WHY WE CHOOSE THE PRODUCT OR SERVICE ....................................................... 5
1. Characteristics of your product or service ........................................................................... 5
2. Why it is appropriate for our product or service to be sold online ...................................... 5
III. MARKET ANALYSIS ........................................................................................................ 7
1. Discussion of industry characteristic and trends .................................................................. 7
2. Competitors and their business ............................................................................................ 7
3. Projected Growth ................................................................................................................. 9
4. Customer Behavior .............................................................................................................. 9
5. Complementary Service ....................................................................................................... 9
6. The Location ........................................................................................................................ 9
IV. VALUE PROPOSITION ................................................................................................... 10
1. How our service solves the problem or improves current market situation ...................... 10
2. What specific benefits your customers can expect from your business? ........................... 10
3. Why customers should buy from us over other competitors and how our service differs
from others ................................................................................................................................ 10
Bibliography ..................................................................................Error! Bookmark not defined.
I. BUSINESS DESCRIPTION
1. Background of business
From distant past to present day, weddings, anniversaries or birthday parties, etc. are
always important events which have a special meaning. Especially, many events today can be
seen as one of the most crucial marketing tools for businesses. On those days, people try to set up
a remarkable occasion as much as possible. However, designing a spectacular, extravagant and
memorable celebration requires the combination of innovation, professionalism and relevant
knowledge of the artic. In addition, there are some busy people who cannot scarify their time to
design a perfect event as they want. On the understanding these vital factors, ARAM-an event
organizing company was created.
2. Product or service and target customers
a. Product and service
_ Name of the service: ARAM, an event planning company, specializes on planning, designing,
creating various events from conception to execution.
_ Our services include:
 Celebration parties: wedding, birthdays, anniversaries, etc.
 Conferences, seminars, meetings
 Corporate dinners
 Corporate event planning and corporate event production for openings, incentive or
awards party, product launches, brand activations
 Charity events for non-profit organizations
_ For every project, we are responsible for
 Designing, planning and organizing (booking place, arranging time, preparing
furniture and thinking of detail programs in events)
 Decorating, lighting and sound design
 Budget management
 Media
 Video production management
_ We choose the location of the event, make arrangements for transportation, lodging, and
meals, and handle numerous other details. Before the meeting, we confer with our clients to
agree on a budget and what should be included in the event, visit meeting locations ahead of
 time to inspect the facilities, work out details with the staff on-site, and negotiate contracts
with service providers. During the event, we monitor activities to make sure everything is
running smoothly. We employ clerical support staff, and those make up the rest of the
workers. In addition, with breakthrough ideas coming from our passionate and talented
workforce, we can adopt or even set a new trend, so that our events are customized and
exceptional to meets the desire of customers.
b. Target customers
_ For anyone who would like to have an own special event, especially those who are 25-60
years old, earn stable income and enjoy expanding social network.
3. Business model
_ We classify our business model using the following categories:
 Degree of decentralization: ARAM is click-and-mortar because we just use website as
a marketing tool which puts us in direct contact with people searching for wedding
styling ideas or party planning. We do need a location at which customers and we can
discuss ideas clearly.
 Participants: Business to customers (B2C) – we provide personalized services to
individual clients.
 Source of Revenue: Sales – we design events based on customers’ desire and charge
service fees.
 Role of Business: Manufacture – ARAM sets up events by ourselves and reaches to
specific customers directly.
4. Function(s) of Business
_ Service offer: After picking up the customers’ demand, we will come up with new ideas
which most suitable to them. Then, we plan and conduct the project.
_ Reducing search cost: We take care of the whole process to help customers save time and
avoid risks.
II. WHY WE CHOOSE THE PRODUCT OR SERVICE
1. Characteristics of your product or service
- Relatively inexpensive services: We offer services based on the budget that clients
hold on hand.
- Frequently booking services: wedding, birthday, picnic parties are events booked
regularly.
- Highly reliable service: one of the most basic elements to build a successful business
is reputation, and thus, customers’ satisfaction is really important to us. This is the
reason why we extremely focus on the quality of services offered. All of materials
and factors (digital equipment, furniture, food, music band, etc.) needed for the events
will be provided from reliable suppliers (Truong Thanh furniture, CP Company, MTP
Entertainment) and checked by our team before coming to customers.
2. Why it is appropriate for our product or service to be sold online
Table 1: The comparison between off-line business and on-line business
Off-line Business On-line Business
Number of customers Low High

Size of market Limited Large

The search cost Increase Decrease

Space Have trouble with other Private place to search

customers information
Low. Reducing the tax
High cost (renting,
Cost and the fee of renting
moving, facilities, utilities)
building.
Advertise freely or low
Advertisement Limited/Expensive fees cost on Facebook, Zalo,
Instagram

- The reason why we sell the service online is that we can expand the market place with
the minimal financial resources. In addition, an online store requires no open time
restrictions, which means clients can visit our website whenever they want. Thus, we
can attract more customers and do not miss any potential one.
- The internet makes the transactions to be more convenient and enables us to
summarize easily the statistics like the number of orders reported on the back office
website.
- E-business provides us with various functions: discussion, consultation especially
marketing. It is a high-tech method of electronic communication which allows us to
carry on conversations without leaving our homes or offices.
III. MARKET ANALYSIS
1. Discussion of industry characteristic and trends
a. Characteristic
_ Organizing good events is an important part of the party. In Vietnam 2017, there
were approximately 800 event planning companies which help customers have a
special party and memorable interval.
_ These days, organizing an event is very useful for businesses. They use it as a
marketing tool to highlight their brand name or their products. The Event Track
reported that events had a positive influence on consumer purchase intentions.
Of the 1,100 consumer survey respondents, 58 percent said they actually bought
the product soon after the event and 86 percent said they became regular
customers of the company sponsoring the event. (George Boykin, n.d.). Thus,
the number of customers who want to decorate their parties increases.
_ According to a market research published in November 2017, over the next five
years, event and party planners are expected to continue performing well.
b. Trend
_ While technology will still play a major role in the quest to create a personalized
and high-impact experience for audiences, customers are interested in other
elements.
 Customers today focus on textures, scents, mood-setting soundtracks, and
visual techniques during the event.
 Different from traditional event, planners should integrate creative spaces
within event venues to better engage the senses and stimulate discussion
during an event. Many events today, for example, are organized outdoor.
2. Competitors and their business
a. Flypro (rangdanhviet.com)
_ Strength
 Building the ideas based on the needs of customers.
 Established 8 years ago, having experiences.
 Possessing many branches in the North provinces
_ Weakness: the price is too high. Less improve on advertising.
 Figure 1: Flypro
b. The DTC Event (sukienchuyennghiep.vn)
_ Strength
 Professional employees who have experiences in the marketing aspect.
 This company has 15 year-experiences in this industry.
 Established 17 years ago.
_ Weakness
 They just work with banks and famous corporations.
 This company does not have branches and is located in Ha Noi, if people
live far away from Ha Noi, the fees will cost too much.

Figure 2: The DTC Event

3. Projected Growth

Customers Sales forcasted from 2017

70 to 2020 (millions)
60 700
600
50
500
40

VND
400
30 300
20 200
10 100
0 0
2017 2018 2020 2017 2018 2020
Year

Figure 3: Number of customers and sales forecasted (2017-2020)

_ We hope that for the year ended 2018, the number of customers in our store is
expected to increase to 40. At the same time, the revenue is anticipated to reach to
400 million VND. The number of clients will increase from 10% to 25% in 2020.
4. Customer Behavior
_ Customers are willing to contribute their ideas and detail discussion.
_ They want to ask for an event planner to create a special party but they are afraid
of expensive cost.
5. Complementary Service
_ We cooperate with much famous food company like CP Company and Green
Food Corporation to serve the best quality of products.
6. The Location
_ Our offline store is located on Ho Van Hue Road, Phu Nhuan District. There are
many wedding dress stores located on this road. When they visit these wedding
dress stores, they can see our store and visit.
IV. VALUE PROPOSITION
1. How our service solves the problem or improves current market situation
_ Having a special and unforgettable wedding, birthday party or any anniversary is
a nice dream to many people. However, planning to set up such events takes a lot
of time, which discourage their dreams because today they have a huge of things
to do and little free time. Therefore, they usually ask for many event planners to
help them, but doing so whether effective when the cost of these services is often
expensive? Our business is created to make the difference. The special thing is
that we will offer the service and the price based on the current level of finance
that customers have.
_ In addition, with our professional human resources, we focus on the innovation
and customers’ demands. That is the reason why when joining with ARAM,
customers do not have to worry about anything. The main goal of our business is
receiving the trust and put all effort to satisfy customers.
2. What specific benefits your customers can expect from your business?
_ Saving time: ARAM is responsible for all process in order to help busy
customers.
_ Saving money: ARAM will offer prices depend on the choices of customers that
ARAM consults before.
_ Memorable time: ARAM ensures that customers will enjoy memorable, cozy,
interesting and exotic events that we create. Also, during the process of planning
and conducting, ARAM promises that we will serve customers with all respects.
_ Several choices: ARAM keeps enhancing to catch up with more ideas providing
more options to customers and serve them as good as possible.
3. Why customers should buy from us over other competitors and how our service
differs from others
_ Even the cost is variable and dependable on services, we believe that we will
bring to customers memorable time that they never have before. When
cooperating with us, we are responsible for the whole process and support them
whenever they need.