Marketing plan for cranium filament reductions. hair salon assignment

Consolidation can be seen with the high-end hair salons as well as the full-service, full-family companies such as Best Cuts. Over the last five years there have been an expansion of upscale chain salons in major metropolitan areas. The expansion takes the form of opening new stores, as well as purchasing independently-owned salons and transferring them over to the chain. Additionally, this trend has occurred with the Marketing Plan for Cranium Filament Reductions. Hair Salon By shielding industries that are consolidating; cost saving measures.

Cranium is not participating in this trend of aligning itself with a chain. Cranium believes that it has better insight to its local market and would rather apply this specialized insight to its racket instead of adopting the procedures of a national chain. Market Growth For the last seven years the hair cutting industry has grown steadily at 5% a year. The industry is generally unaffected by economic upturns or downturns. While in upturns, women are more likely to purchase extra services such as hair coloring or perms, although generally the consumption pattern is unchanged.

Cranium Filament Reductions will emphasize a customer-centric service where the customer’s needs are always the priority. Cranium Filament Reductions will also sell hair care products that are forecasted to account for 15% of sales. These professional quality supplies will include shampoos, conditioners, reconstructs, brushes, combs, and other styling aids. Keys to Success Keys to success include: * Professionalism. * Convenience. * Customer attention. Critical Issues Cranium Filament Reductions is still in the speculative stages as a start-up company.

Its critical issues are to continue to take a modest fiscal approach; expand at a reasonable rate, not for the sake of expansion in itself, but because it makes prudent fiscal sense to. Marketing Strategy Cranium Filament Reductions will have a somewhat limited marketing budget. The main reason for this will be because some of the money that would otherwise be spent on marketing efforts will be used for rent. By choosing a well-traveled, popular mall to locate Cranium in, it will receive a lot of walk through traffic. The cost of having this location takes the form of higher than normal rent.

Someone who is fiscally expansible as opposed to someone who likes opulence will favor a family style salon. * Young Mothers With Children: Most young children are notoriously difficult when it comes to getting haircuts. A family style salon is a more laid back place that allows the children to play while they are waiting and then will work with the parents in calming the kids nerves when they are ready for their shearing. Cranium Filament Reductions will target each of the three groups separately. The males will be targeted by offering a quick, convenient, service. Because men have shorter hair, they tend to require haircuts more often.

Cranium Filament Reductions will cater to males with evening hours, no appointments necessary, and quick turn around times. Generally females prefer the allure of upscale salons, however, not everyone can afford this luxury. For this reason Cranium Filament Reductions will provide the same quality hair styling, Just without the expensive price. Cranium will target these customers by emphasizing the sophisticated, ultra-hip styling that Cranium can offer. Cranium Filament Reductions will also target mothers with children by offering kids toys to play with while they wait and child-friendly hair stylists.

Advertising and Promotion: Locating the store in a high traffic mall will significantly increase visibility. A targeted advertising campaign will also communicate Cranium’s desired messages. Customer Service: All of Cranium’s employees have been trained in exceptional customer service. All employees have discretion to remedy any problems encountered on their own without having to first receive permission from a supervisor. Marketing Research During the initial phases of the marketing plan construction, several focus groups were held to gain insight into the buying patterns of prospective customers.

The Ochs groups drew a wide range of people from women to men to mothers. The participants were asked what type of service they typically use and why. They were also asked how their current service could be improved and what it would take to get them to switch to a new salon. They were given a bit of information regarding Craniums offerings and they evaluated this. The focus groups provided invaluable information and feedback. While some of the information gathered was already known to Cranium, other information were things that made perfect sense but had not been thought of. Financial, Budgets, and Forecasts