Choosing a correct decision of what to do when the market, where company acts, become very competitive is the key issue for every businessman. Competitive struggle has its costs and efforts should be correct for do not cause harm by itself and reasonable to avoid continuing useless actions, if the concentration in other fields of activity can be more fruitful.
So, from the case we can see the history of the Wedding Extravaganza, a wedding show, which is one of the activities of the enterprise Event Nouveau Planning. This company was founded in 1987 and provided the services of organization the corporate events. As to 2011 it was the longest established enterprise providing such services, as well as Wedding Extravaganza, started in 1988 were the largest actual show with the longest history.
Having such a long history Nouveau had a good reputation and its shows are well known between the exhibitors and potential customers. That fact provided huge flow of visitors during the show. Good relationships with the media provide effectiveness of the advertisement. Nevertheless, there are some weaknesses such as that show organized by the owner and has no another full time employers, the place, where show was carried, become too small, and some potential participants could not take part.
Concerning the threats some following ones can be seen. First, it is the existence of the competed show that began to grow rapidly from 2009. Second, it is the declining of the market because fewer and fewer couples were marrying during the last years because of unfavorable economic situation in Canada as a whole and the Essex County in particular. Great number of specialized internet resources is the third threat. It attract a huge number of the potential client, supposedly reduce the total number of possible clients, providing an opportunity to contact with different professional and to arrange the wedding individually.
So, as it can be seen the conditions in the market were changed. It became smaller and more competitive. Nevertheless, good reputation, stable relations with the exhibitors and media are the source for further existence of the show and preservation of the leading positions. Possession of the web-resources with easy to remember addresses also provide additional opportunities.
Company provides services connected with the planning and organization of the corporate events. At the same time two wedding shows provide the most part of the revenues, demonstrating that other activities are not as developed as this one and, supposedly, they should pay more attention.
As for the carrying of the wedding show, this business became riskier and need new ideas, some innovations and possibility to enlarge the quantity of exhibitors. Also, necessity to eliminate the threat of the competitive show (Wedding Odyssey) is crucial taking into account limited market.
As for the structure, for more intense development of the other company activities that will ensure the financial stability of the company, hiring of the full-time employee is desirable. That can provide with the fresh ideas and free time for the owner.
So, in this situation 25th Anniversary of the show can be a good reason for more aggressive advertising, good reason to carry the show in such a way that force the exhibitors to choose the show where they can participate (while company are more preferable). It will undermine the position of the competitors. To sell a show may be risky, because financial stability and reputation of the connected mainly with these shows. That is why engaging of the special person for development of these shows is rational. After successful adopting of the changes, this activity can be the source for further development of the other company businesses.