Marketing plan presentation

BEARD KINGS MARKETING PLAN

PART A: Beard Kings Marketing Plan

Justice Callis

MKT500 Marketing Management

Strayer University

Dr. Lisa Amans

7/27/2020

Introduction

The start of Beard Kings began my freshman year of college when my roommate struggled to grow and maintain healthy facial hair. He tried various products and suggestions from other men ; however, he did not have any success with growing out a healthy beard as he desired until he tried Beard Kings products. Beard Kings help men grow their beards using a line of all natural ingredients in their products. Products include beard oil, beard balm, beard wash and beard combs. Beard Kings is strategically based in New York City due to the gentrification fast paced environment , and widespread social media access. New York City allows men from all walks of life to experience the Beard King experience.

Mission Statement

Beard Kings mission statement is to provide the best natural products suitable for any man's facial hair needs. Beard Kings main goal is to help men build their self confidence and build a self care regimen that yields positive results . The first step in growing a healthy beard is to maintain the currently healthy hair . Beard Kings is proud to be able to say all products sold are certified organic and made with natural ingredients. Being a natural based company allows the product to be used by men from all walks of life and gives the consumer reassurance that the products the consumer is putting on their face are pure, chemical free, and gentle for everyday use. Beard Kings want all men to remember that “Their beard is their bestfriend !” At the end of the day men are kings who deserve to self love!

Goals

When the Beard King products were created the main goal was to provide men with natural products that could be used as a daily beard regiment. Over time the goals shifted when I realized how many men did not know how to care for their beard properly. This gave me the idea to not only provide a natural product but also provide tutorials, tips and how-to guides that the consumer could use in conjunction with the Beard Kings products. Our short term goals of providing men with the information and knowledge of how to maintain a healthy beard became our first priority. Our long term goal became expanding our product line to include more natural products suitable for daily use and expand social media awareness throughout various media platforms that show men how to use the products properly.

Short term

Our short term goals is to provide all of our products on social media platforms such as Facebook, Instagram, Twitter and Etsy. Beard Kings provided a website that is full of different products, advice, before and after pictures showing results of men's beards over the months. Customers can write reviews of how the product impacted them with being able to text a 24 hour text free number to contact us at any time. Beard Kings wants to value our customers with excellent service and life changing results.

Long term

For over the next five years Beard Kings would like to expand our business internationally. Our goal is to expand to different states and outside of the United States, with just being local in New York City Beard Kings has a lot of potential to compete against other companies that provide hair care products. Even though our brand wants to extend to a larger aspect, as being a black owned business it's our job to provide the best services. Instead of only providing beard care products our company will expand to having products for women and children as well. With that being said our brand would like to provide events for all demographics to teach them how to take care of their hair. As our business grows our customers should grow too in learning how to properly take care of their hair for all different nationalities and all different types of hair. As the evolution of beard kings becomes more known our brand wants to teach people along the way how to fall in love with their natural hair.

Analysis

Environmental Analysis

Being that our store is in New York City our company would attract all walks of life. The environment, especially being in New York would sometimes attract different races. The city is a fast paced environment where everyone is moving, either stopping by to do window shopping or come into the store to take a look. It is the city that never sleeps, so some companies and places don’t know what to expect.

Competitive Analysis

Now that beauty and hair has come to be a big asset over the years, people try to find what products work for them. For enhancing the self-image of men consumers and conveying this through a symbolic meaning, the use of such products has grasped the central importance of men (Grubb & Grathwohl, 1967). Our main competitors are other hair businesses such as Shea Moisture men, Scotch Porter and Uncle Jimmy products. Most of the brands have been around for years and have built their company up to be very efficient. The competitors to my business market the product at any pharmacy or beauty supply store. The brands have a wide range of expanding then having one store with several locations. The brands have commercials, models and other stores that market their product. Even though the companies have been around it shows the same product and fragrance.

Economic Analysis

Seeming as though the coronavirus has come about for over the months and people are losing jobs. Our company will be more prepared when it comes to something like this. With the pandemic happening and probably closing down businesses our company will provide a future back up plan that could help us in the future and opening a business is very important. The pandemic was unexpected to happen and that the pandemic affects long term goals as well. This would include to follow all policies that the government has put forward for us and providing cleaning areas throughout the store with divided sections within the store.

Political and Legal Analysis

Our company works with different vendors. For example, if our company gets the products from China and China ends up shutting down, the vendors from other areas can provide for us. Before our company gets going people have the opportunity to try our product on their skin and hair so that way our workers can see if the product irritates others skin such as breakouts. Due to safety regulations this is the best way for our company to see if our product is working with no harm done. Each of our employees need to be certified with a license in order to deal with hair products. Examples would be sanitation and hazardous chemical compliance, inspections and proper licensing and labor laws displayed..

Technological Analysis

Our company was built off of social media with the different platforms our brand displays. The beauty culture of the blogs and online resources in beauty attempt to integrate local and transnational ideals of beauty but primarily are very first world dominated (Pivali, 2017).Most products are sold online instead of in stores where most people buy from. The role of the internet plays a major role in the success of our company, the internet provides us with more clientele. As our company has taken the path of social media, shows were right in the middle. Technology is the best source with our business because it's easier to attract customers and get in contact with them.

Sociocultural Forces Analysis

Socioculturalism is important to our company, getting to know what attracts our customers and what brings them. Beard Kings markets to age groups 18 and up, from all different races, from long hair, curly hair, nappy hair, long or short beards. Our company provides products to everyone, not to just one aspect. As a black own company, trying to reach all demographics is our main goal.

SWOT and Needs Analysis

Our SWOT and Needs Analysis provides what our company provides when it comes to our strengths, weaknesses, opportunities and threats. The SWOT analysis pinpoints where our company needs to be and what potential our company has. Our company is able to understand that we are likely going to be exposed in our immediate business environment.

Strengths · Accessible · Men empowerment · Diversity of products · Customer Loyalty · Affordable	Opportunities · Expanding product categories · Growing beauty consciousness among men · Establishing in other states · Strong supply chain
Weaknesses · Competitors · Distribution efficiency · Advertisement · Lack of exposure	Threats · Competition · Data breach · Financial issues

Strengths

Building customer loyalty is one of our top strengths.Our company is loyal to our customers and pride ourselves on providing top notch customer service and the best possible products. In a 2014 article, Thota explains men tend to exhibit brand loyalty thus making it difficult for them to switch brands. Thota (2014) stated men are guided by functional benefits and attributes of products. Selling affordable products is the key to success to any business. Beard Kings wants to build connections with our customers to create long lasting relationships . Consumers who feel appreciated are prone to keep coming back and buying our products. Male empowerment is another main aspect to our strengths because as a male orientated business we pride ourselves on helping men gain more confidence in themselves.

Weaknesses

In today’s society businesses are being created daily, Beard Kings cannot control what other companies create and produce; however , we can focus on the quality of our brand , our products and our social media engagement. When it comes to Beard Kings weaknesses it includes the lack of brand exposure, likewise competitors and products offered . Social media plays a huge role for the company and will be used as a platform to get our name out into the world . Improving and expanding our products will help combat the competition that provides consumers with similar products . Lastly Beard Kings can expand social media engagement by ensuring every consumer will see the company’s logo, email and social media handles when browsing our website , receiving our products and viewing our social media platforms.

Opportunities

Several opportunities in the world. For example, people who usually start a company post all over social media to have their friends repost and follow. With our company trying to expand on a greater scale is what the company needs. Opportunities such as expanding newer products and expanding to other states. The company has a lot of potential to be at the top of our competitors.

Threats

Threats fall into the same category as weaknesses but might be more than our company thinks. Financial issues, competition, and data breach are all major issues our company can face. Not enough sales, competition is doing better than us in every area and then hackers. Threats come from everywhere but the only thing our company can do is try and control the situation.

Conclusion

In conclusion, Beard Kings company is designed to give the best products and services to our customers. Being a natural based company allows the product to be used by men from all walks of life and gives the consumer reassurance that the products the consumer is putting on their face are pure, chemical free, and gentle for everyday use.

References

Authors, A., Khan, I., & Additional informationAuthor informationImran KhanImran Khan is pursuing PhD from School of Management. (2017). Men's attitude and motivation toward consumption of grooming products: A comparison of Chinese and Pakistani male consumers. Retrieved July 28, 2020, from https://www.tandfonline.com/doi/full/10.1080/23311975.2017.1309783

Sur, P. (2017). Beauty and the internet: Old wine in a new bottle. Journal of International Women's Studies, 18(4), 278-291. Retrieved from https://kean.idm.oclc.org/login?url=https://search-proquest-com.kean.idm.oclc.org/docview/1960992642?accountid=11809

Thota, S., Walker, J., & Hermosillo, S. (2014). Institutional Repository (IR) at the University of San Francisco (USF), hosted by Gleeson Library. Retrieved July 28, 2020, from https://repository.usfca.edu/

References