MK100 Marketing Plan

Demographic profile

The demographic profile of the average Happy Hair Salon client is African American and Latino females between the ages of 14 and 55. 

Psychographic profile

The psychographic profile of target customers are women that are invested in maintaining a stylish and pulled together look that highlights their natural beauty.  These women like to pamper themselves by having professional stylists attend to all their beauty needs.

PROFESSION

Customers hold a variety of professions from professionals working in Washington D.C Metro Area. to teachers, bankers, and service professionals working right outside the city.

geographic LOCATION

The geographic location of Happy Hair Salon is in the urban community of Upper Marlboro MD, located just miles from Washington D.C.  Most clients come from a 10 mile radius around the Salon, which is located in a popular strip mall Largo Town Center in a  1,000 square foot rental space with easy customer parking and sidewalk access free WiFi. 

Wants and needs

Clients at Happy Hair Salon receive professional personalized hair & nail care that leaves every woman feeling radiant and special. With a variety of hair care services, including  shampoo & style, cuts, spiral rod sets, relaxer, curls, perms, weaving, color, braiding, hair extensions, highlights, full head foil, treatments, and more, the exact need of every client is met.

According to SBDC Net (2014), the sale of hair care products are very popular and account for 5 to 15 percent of revenue with grows margins being higher than services.  Therefore, we meet the needs of customers by offering a full line of specialty hair care products to meet our customers' unique wants and needs. 

Nail care is another service that we provide to our clients to meet their desire to be pampered with extra special services, such as manicures, pedicures, acrylics, gels, and nail art.  According to Nails Magazine (2013), the nail industry is growing immensely with pedicures being the most popular service at salons.

References

Nails Magazine. (2013). Industry Outlook. Retrieved from http://files.nailsmag.com/Market-      Research/NAILSbb12-13stats.pdf

SBDC Net. (2014). Beauty Salon 2014. Retrieved from http://www.sbdcnet.org/small-business-research-                reports/beauty-salon-2014

Consider what distinguishes your company from competitors, their products and / or the price of their products and services.

unique selling proposition (usp)

Describe your unique selling proposition (USP). Next, explain the key aspects of your business, products, or services that make them unique when compared to your competition. (e.g., Southwest Airlines’ USP is providing customers with low airfare without compromising service and comfort.)

marketing objectives

Describe the marketing objectives of your company. Your marketing objectives should, at a minimum, address potential customer profile and market segmentation. Explain the manner in which you conducted your secondary market research.

Use at least two (2) quality references cited in APA format to support this section. Use your references to define your understanding of USP and depict the importance of describing your marketing objectives.

You will now consider your company’s strengths and weakness, along with your product or service price.

strengths, weaknesses, opportunties and threats (SWOT)

Determine the key strengths and weaknesses of your company, as well as the opportunities and threats it faces within its industry.

The SWOT Analysis is a very useful technique for in business. Go to Mind Tools’ Website and read “SWOT Analysis” for a better understanding of the topic, located at http://www.mindtools.com/pages/article/newTMC_05.htm.

supply-chain and operational system

Discuss your critical steps within your supply-chain and operational system. Explain the key aspects of your strategies for producing and distributing your products and services to both your stores and customers. Determine whether you will use an outside vendor or do everything in-house.

pricing strategy

Analyze the company’s pricing strategy relative to its pricing objective. Examine major internal and major external factors that could potentially affect the pricing of the company’s products or services.

Use at least two (2) quality references cited in APA format to support this section. Use your references to define your understanding of SWOT and depict the importance of describing your supply-chain and pricing strategy.

You will consider mechanisms by which your customers will purchase your products and / or services (e.g., online, storefront, direct sells) and the primary manner in which you intend to reach new customers (e.g., TV, radio, social media, special events). 

Consider the marketing materials that you intend to use. According to the textbook, marketing materials are collateral used to promote your business or products. Promotional strategy may include free trial offers, money-back guarantees, and buy two (2) for the price of one (1) type of deals.

distribution strategy

Determine the distribution strategy in terms of your target market, location, and selection of distribution channels. Indicate whether or not you will leverage the following strategies: use stores located in different regions, sell online, and / or hire a sales team to sell directly to suppliers and door to door. Recommend three (3) strategy options to get your product or services out to your customer base.

1.       Insert strategy option to get your product or services out to your customer base

2.       Insert strategy option to get your product or services out to your customer base

3.       Insert strategy  option to get your product or services out to your customer base

marketing goals

Outline your main marketing goals for promotions, offers, and giveaways. Discuss the key types of marketing materials that you intend to develop and share.

Use at least two (2) quality references and cited in APA format to support this section. Also consider including charts, graphs, tables, and pictures to support your marketing goals as it relates to promotions, offers, and giveaways.

Propose at least three (3) action steps that you can use to move your plan forward. Consider how, when, and who will be involved in the execution of this plan. Formally wrap up your marketing plan.

A conclusion is not traditionally included in a marketing plan, but a list of action steps are often included within the plan. The conclusion provides you with an opportunity to reflect on your plan and support academic level writing.