Question

Marketing plan of local beauty parlour of canada.

Background :

- What has led you to this opportunity for a new product or service?

New Product Opportunity

- Describe the new product or service

2. SWOT Analysis

- Discuss the SWOT aspects of your project, including

3. Competitive Analysis

- Identify the key competitors, as well as their strengths and weaknesses

- Be sure to reinforce your competitive advantage(s)

4. Target Market

- Include detailed needs and characteristics of target market. Be sure to use all four categories of segmentation bases.

5. Brand Strategy

- Brand name, Differentiation and Positioning

6. Product details; Pricing details; Distribution details; Promotion details

7. Contingency Plans

write more details for competitive analysis.

Answer 1

The Beauty Industry is growing drastically irrespective of how the economic landscape fluctuates as Beauty salon cannot be replicated at home or atleast not adequately; Wherein, People's requitements mainly involves Perssonal grooming. As per the Trade Facilitation Office Canada(TFO Canada), The Industry Experts estimation on canadian Cosmetics, Spa and beauty retail market is valued at $5.3 billion annually and is expected to rise the same by 6% approximate each year.

The Beauty Parlour requires Upholding various safety and health responsibilities,which can create lot of obstacles and redtape. The substantial Start-up capital is very significant for obtaining the funding to pay for lease, payroll, advertising, furniture,supplies, insurance, licenses and permits.

A Beauty Parlour/salons provide a range of services from all cosmetic treatments to utmost personal care. The Marketing Plan for Beauty salon which generally includes treatments or additional services that helps the clients to relax that offers;

• Manicures and Pedicures
• Hairdressing
• Massage therapy - Therapeutic massage, Aromatherapy
• Saunas
• Steam Room or Whirlpools
• Makeup Applications
• Facial and Skin Treatments
• Hair Removal (Laser/Waxing/electrolysis)
• Body Treatments - Exfoliation, Wraps & Packs, Tanning, Piercing and Esthetics

2.

Since Beauty Spa is involved in competitive industry with diverse target markets, considering SWOT analysis matters the most, which help the business to excel and identify the areas that requires improvements and adjustments.

Strengths:

A Beauty Parlour with Stong Cliet management, successful marketing, Good operations; Whereas supporting factors like High Traffic Location, Well- Trained Team indicate the core strength of the Spa.

Weakness:

Inorder to make the strategic improvements, the loopholes has to be identified such as lack of proper stylist training, poor customer care which gives unbiased look at the salon. It also describes the lack of inventory, wrong Location withb limited Parking spaces for the vehicles.

Oppertunities:

For Evaluating the External aspects Of Beauty Spa/salon; implementing the marketing strategy is very essential by introducing the unique hair trends and style, new styling methods, new product lines and brands in the salon's inventory will pave the way for attracting each client in the market.

Threats:

The Livelihood of Beauty Parlour could be threaten as it could not overcome the impending challenges. The customer base can be affected due to the rival entry of new beauty salon. Inorder to sustain or retain the existing customers; Innovation of new Trends and Promotions of retail products is necessary for salon's customer benefit.

3.

The Beauty salon Industry in canada has exhibited steady growth over the years. Since Beauty salon industry is highly fragmented, It revenues total $12 billion annualy, with Day spas accounting over $7 billion of which is growing at 25% per year at alarming rate.

The Beauty salon with Licensed Massage Therapists ( LMTs) in Canada for their Product services cost arount $70-$90 per hour, which is slightly above the most of the other residential areas can be comparitively low as $40 per hour which is available in saturated areas. It is being wondered that such Beauty salons stand out from the crowd due to their Unique selling Points (USP) or the proposition that makes their business stand out from others.

The cosmetic Products also have major competitive edge over the Beauty salons since it is driven by the customer attitude, which shows the quality of life in terms of looks. Canada cosmetics Product Market has forcasted to project CAGR of 6.45% during the period of 2020-2025.

4.

The primarily targeting potential clients is very important for the Beauty salon industry which put together the growth of the business and understanding the market wave analysis as well.

• The Target market for a beauty salon is circumscribed by geography or neighbourhood areas, which defined where the most of the customers come from. Unless the salon is located in the area wherein the volume of the travellers is less, It may not attract the enough clients. The Target region also helps to decide about the price need to be charges and services which we can offer.
• The Targert Market for Beauty Salon may influence the Genders, which is essential for the marketing strategy of the business. it may involve the models, enhancing their needs like - maintaining the family budget - that is the advertisement address
• The Target market for the Style become very essential when exploring the mindset of the ideal customer is set, which involves the kind of jobs they work, magazines and websites they read and passions they pursue; also celeberities they imitate and idolize.
• The socioeconomic status of Target Market is essential which helps to determines services,likely level of demand, targetig affluent young professionals,the pricing and advertising will be quite different compared to rural areas.

5.

• Clients needs and Desires should be identified
• The consistency across Marketing channels must be implemented
• The Brand Reinforcement in Clientele should be engaged.
• The Desired Brand position Relative to competitors must be identified.