discussion 30

Part B: The Beauty Bar Marketing Plan

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Part B: The Beauty Bar Marketing Plan

Introduction

You did well introducing your hypothetical company. Your product/service is clear, the physical location is defined and you successfully introduced the elements of your marketing plan. Great job! Mission Statement: The mission statement is succinct and straight forward with a solid rationale. All five questions in a mission statement were successfully answered. Goals: The goals you indicated for the short term and long term were specific and realistic; ways to measure them were identified. Environmental Analysis: All the elements of the environmental analysis were addressed and explained. Good job being thorough and exhibiting an understanding of the environmental factors. Remember that environmental factors are outside of your direct control, but each of these factors influences your business.

The SWOT and Needs Analyses are on target and show how your company will fare in the market. Your strengths and weaknesses are internal as you can control them. Your opportunities and threats are derived from the environmental analysis and, while you cannot control them, they can have a direct impact on your hypothetical business. References and Citations: Your paper used three (3) academic, peer-reviewed references as quantitative marketing research to determine the feasibility of your product/service. To receive the most points, you must submit four (4) or more. You showed a clear understanding of academic, peer-reviewed references. Most of your APA formatting for your references is correct. Overall, I like the way that you wrote your paper. It was written, and very well-organized, which made it very easy to follow your analysis. It is encouraging to note that my first part was this perfect. Intend to use the same strategy I used in doing the first part to complete this section of the marketing plan. I understand that perfecting the second part will help me come up with the best plan which can be used to implement the entire plan and make the startup successful.

New Orleans citizens boast of that history and are always proud of consuming their cocktail and any other new drinks introduced to them. The proposed Beauty Bar will not only provide a variety of drinks but will also offer a cocktail that is not offered by many bars in the region. However, the city is in shortage of nightclubs and hip bars, making it a potential hub to unveil a bar. New Orleans is also a tourism hub because of beaches and other resources that make it a vibrant destination. It attracts tourists who are often ready to enjoy pure beer and cocktail. Residents can also purchase the drink from the bar and walk through the city with the drink because it has open laws. Despite the presence of bars in the city, the existing bars are considerably spaced out. Having a wide choice of bars with significant diversity is needed by residents and New Orleans visitors. It hosts people from different cultures, religions, races, ethnicities, and nationalities. There is an opportunity for every person to find a person to interact with any time they stopover a bar. The city indulges different drinking cultures from the Americans, the French, and the Spanish. The availability of a variety of drinks is a major boost for the Beauty Bar. Besides, most of New Orleans’ visitors are there to party. There are a variety of classy drinks that allow people to indulge in the greatest life experiences.

The current section will focus on the analysis of the branding strategy which will be implemented at the company to ensure that not only success is achieved but expansion is also attained swiftly. Primary and secondary target markets will also be explored in this section and a position statement based on the marketing concept map will be outlined. The behaviors of the consumers in this market segment will be analyzed at the end to better understand the industry market.

Branding Strategy

As we prepare to implement and commence the business, we believe that we need a strategy that will help us move the company forward and gain an effective competitive advantage. According to Robertson et al. (2020), a brand strategy is a long-term structure that is meant to implement a successful brand and achieve the organization’s set goals. Beauty Bar management understands that developing a well-defined and implemented brand strategy will enhance the chances of the organization to become successful and gain competitive advantages since it has a direct impact on the needs of the customers.

Brand Name

The name of the company already mentioned in the part A of the marketing plan, the name of the company will be Beauty Bar. The brand name was chosen because it does not only show how the company fancy bar business but also sends a message to potential clients on the structure of the entire business. Customers will be able to swiftly understand the nature of the company outlook and imagine the kind of products and services that will be offered at the company.

Logo

The logo has its part that includes a mug of beer with beer content flowing freely. This symbolizes the abundance of alcoholic and other drinks at the bar. The logo also has the name of the bar which is Beauty Bar and a slogan of the company, “the adults also deserve to live their life” which it meaning and rationale is explained in the subsequent section. The black background color was chosen because of the nature of the color of higher quality brewed liquor. This is an indication that the bar will offer high-quality alcoholic drinks.

Figure 1 Above Shows the Logo of a Beauty Bar Company.

Slogan

We at the Beauty Bar believe and understand that alcohol consumption is only legal among people of 21 years and over. The rationale of the company slogan therefore shows that the company will only sell alcoholic drinks to the adult. We also believe that adults need to relax and enjoy their life after a long day of toil. The company slogan means that the company values the happiness of the adults and will work to ensure that they live a happy life.

Brand Extension

Our brand extension image is no different from our company concerning content such as name, slogan, and image. The difference is that it is shaped differently since it is designed to be placed on our brand products. It has a rectangular shape to make it is easy to be placed on our company products, assets, and equipment including beer mugs, plates, bottles, and other product containers.

Figure 2 Above Shows the Image of Our Brand Extension

Primary and Secondary Target Markets

The primary and secondary target market of the business includes the middle class, white color, and office workers on their way from work. These are the primary consumers who are expected to patronize our bar daily as they move from work to their homes. This population is expected to stop at the bar for a drink and cocktail before they head home (Robertson et al., 2020). The primary target market is expected to be above 21 years both male and female who will pop into our bar to have a drink and an appetizer before heading home. The market is expected to be from different demographics leaving around and in New Orleans. Our secondary target consumers will include tourists and workers who are heading for lunch since the bar is located near the main beaches in New Orleans which receives many tourists and employees alike. Another important secondary target of our business will include crowds looking for light late-night venues, music halls, and late-night and bar crowns looking to party among others.

Since the bar will have the NB&G will attract customers who like live jazz music, acoustic guitar music, and other music over the weekends and selective weekdays. Apart from the middle-class employees, the business will target university and college students learning and residing within the business areas. Beauty Bar will target people with a household income of more than $30,000 aged between 21 and 65 years (Robertson et al., 2020). Concerning gender demographics, we expect to receive 60% male and 40% of women who live within 5 kilometers radius of the subject location. Beauty Bar decided to target the above-described demographics in the local market with income ranging between 30,000 and above because is the target market with frequent alcohol consumption abilities. Most of the bars in the region do not have a cocktail and we believe that targeting this population and providing high-quality services will enhance our success.

Positioning Statement

Business positioning is very important when it comes to business success and gaining market competitiveness. Beauty Bar will position itself in the industry as a bar and grill that will also offer other beverage products including a cocktail. The bar will be designed as it many competitors and attractive to patrons seeking a comfortable and relaxing bar and grill experience. There are a wide variety of Bars in New Orleans that can be categorized into craft cocktails, sports bars, music clubs, jazz clubs, and historic bars (Robertson et al., 2020). The main competitors include the Sazerac Bar, the Bombay Club, Carousel Bar, Arnaud’s, to mention a few. Most of the clubs have been serving drinks for more than a century and even survived Hurricane Katrina. However, their main weaknesses are cleanliness and insensitivity to the effluent they release to the nearby environment. Their activities impact the appearance of New Orleans and can be one reason that visitors may not return. Since the Beauty Bar targets sustainable materials with the least impact on the environment, residents, and visitors who mind about sustainability will have a reason to choose the Beauty Bar over other bars.

The Beauty Bar wants to establish itself as a premier hub in New Orleans, offering the best drinks, concerts, salsa dance, contra dance, and other music entertainment forms. We aim to offer exceptional services consistently and sustainably to establish a positive and long-term impression that produces repeat clients (Rawlins, 2019). We will be maintaining proper workers to customer ratio throughout. We have set the short-term and long-term goals during the startup that will drive our mission of achieving exciting entertainment and genuine hospitality to our guests by providing a diversity of drinks, music, language, culture, and games.

Figure 1. Shows Perceptual Map Representing Beauty bar Competitiveness

The beauty bar's mission is to offer formidable entertainment and genuine hospitality to our guests by providing a diversity of drinks, music, language, culture, and games. It is our honor and pleasure to serve our clients and establish a positive corporate culture around the New Orleans residents (Choi et al., 2020). For customers who want to enjoy diverse alcoholic drinks, Beauty Bar is the place to be because it offers a conducing environment that is tranquility and glowing as compared to our competitors.

Consumer Behavior of Target Market

Several studies have been done to investigate alcohol consumption behaviors in the United States and the results of the studies have differed every time depending on the time, period, and season when the study was conducted. The behaviors of alcohol consumers are influenced by many factors including prices, the type of alcohol, reasons for buying, place, companions among others. However, in general, studies have shown that most people consume alcohol during celebration seasons and periods (Feulner, 2017). The behaviors of the targeted market are also influenced by tales of friends, the bar staff, relatives, and the services they received at the bar or grill. Evidence also shows that most of the alcohol consumers will prefer a place where they can rest, that is a place where music and music are moderate. Most of the alcohol beverage consumers prefer buying from the stores other than going to the bar because they want a quiet environment will no disturbances. This is a common behavior among middle-class consumers of alcohol. Evidence from different studies also indicates that most of the alcohol consumer form brand loyalty and are likely to consume specific types of brands only. Similarly, the consumption of alcohol among the targeted population depends on the price of alcohol and the frequency of their drinking habits. Personal factors that include personal background, culture, traditions, and religion also influence alcohol consumption. Although many of the targeted market behaviors to purchase alcohol are also influenced by psychological factors. Although all these behaviors apply to the target market behaviors concerning the consumption of alcohol, the decision to buy alcohol and the volume of alcohol consumed among the targeted population is influenced by income and peer pressure (Vallaster & von Wallpach, 2018). Data and evidence show that most people consume alcohol at the end of the month or the end of the week when they have earned their wages. Similarly, the company of the target market influences the purchasing power of the consumers. Consumers in the company of females are likely to consume more alcohol as compared to a customer in the company of male counterparts.

Conclusion

The current section will focus on the analysis of the branding strategy which will be implemented at the company to ensure that not only success is achieved but expansion is also attained swiftly. Primary and secondary target markets will also be explored in this section and a position statement based on the marketing concept map will be outlined. The behaviors of the consumers in this market segment will be analyzed at the end to better understand the industry market. The results of the analysis show that understanding market dynamics such as consumer behaviors, target market, and expectations of the consumers is very important in running a successful bar business.

References

Choi, D. W., Velikova, N., & Lee, S. (2020). Influence of Corporate Governance on Financial Performance among Alcohol Beverage Firms. Journal of Quality Assurance in Hospitality & Tourism, 1-22.

Feulner, M. M. (2017). “You don’t just eat ‘em, you get match ready with ‘em”: A Content Analysis of Alcohol, Food, and Non-Alcoholic Beverage Advertising in the United States during the 2014 FIFA World Cup Brazil.

Rawlins, J. O. (2019). Book Review: Almost Hollywood, Nearly New Orleans: The Lure of the Local Film Economy. Ann Arbor, MI: Michigan Publishing, University of Michigan Library.

Robertson, D., Oliver, C., & Nost, E. (2020). Short-term rentals as digitally-mediated tourism gentrification: impacts on housing in New Orleans. Tourism Geographies, 1-24.

Vallaster, C., & von Wallpach, S. (2018). Brand strategy co-creation in a nonprofit context: A strategy-as-practice approach. Nonprofit and Voluntary Sector Quarterly, 47(5), 984-1006.