In: Operations Management
"Imagine yourself as the owner of a retail company with a shop in the Gulf and a website selling "hair care products" and you have the only company in the Gulf that offers curly hair products that are especially free from harmful chemicals"
•Mission Statement
Glory curl is dedicated to the beauty and vitality of one of the secrets of the beauty of a woman. Her hair, especially the woman with curly hair, is the focus of our interest in the Glory curl group, which is a gift to all lovers of beauty and to make life easier for every woman who wants to have attractive and healthy hair.
•Company goals and objectives
"glory Curl" is inspired by the experience of the suffering of curly-haired girls with hair care products offered in the market that do not really take into account their hair. Because these products contain chemical substances that damage the hair and lose their vitality and support contrary to what is written on those packages. We at Calorie Hair are interested in credibility and facilitating the beauty of hair and make it accessible to women to love their hair through environmentally friendly products and free of chemicals as the first Gulf company to manufacture that achievement through its products. Not only provide them but help women understand the nature of their hair and ways to treat and care with love.
• To whom will you market your product?
We look forward to serving both Saudi Arabia and the Middle East for community members with curly hair as well as beauty salons and cosmetic pharmacies and the big supermarket like AL Danube and Banda.
4. Marketing Plan
a. Market Research- Why?
b. Market Research- How? Primary or Secondary Data?
c. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all‐important sales projection.
Facts about your industry
• What is the total size of your market?
• Current demand in the target market.
• Trends in target market—growth trends, trends in consumer preferences, and trends in product development.
• Growth potential and opportunity for a business of your size.
• What barriers to entry do you face in entering this market with your new company?
• How will you overcome the barriers?
• How could the change in technology, change in government regulations, change in the economy, change in your industry, affect your organization.
Product
• Describe the most important features. What is special about it?
• Describe the benefits. That is, what will the product do for the customer?
Customer
• Identify your targeted customers, their demographics
Competition
• What products and companies will compete with you?
• How will your products or services compare with the competition?
Marketing Plan
a. Market Research- Why?
Ans. However it's a 'Marketing Niche' project hence both secondary as well as primary data analysis would be of tremendous help.
b. Market Research- How? Primary or Secondary Data?
Ans. First Secondary data & then Primary data under risk management to win over analysis.
c. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all‐important sales projection.
Facts about your industry
• What is the total size of your market?
Ans. As it's a core Marketing Niche "curl glory' it should start as a base to cover 20 - 25% of target market within quarters to first half.
• Current demand in the target market.
Ans. Primary data collection through feedback collection, questionnaire, social media analytics, fairs and exhibitions.
• Trends in target market—growth trends, trends in consumer preferences, and trends in product development.
Ans. With the primary data collected from above marketing activities analytics could be performed.
• Growth potential and opportunity for a business of your size.
Ans. Questionnaire's designed should be in a way to encourage the straighten hair beauty to go for 'Glory Curl' besides the curl hair girl as a natural beauties.
• What barriers to entry do you face in entering this market with your new company?
Ans- Competitors(definitely)
How will you overcome the barriers?
Ans- Studying the nature of them for eg. Competitive analysis would to help.
• How could the change in technology, change in government regulations, change in the economy, change in your industry, affect your organization.
Ans- very much
Product
• Describe the most important features. What is special about it?
Ans- Retaining the natural beauty of curls with no cosmetic damages.
• Describe the benefits. That is, what will the product do for the customer?
Ans- Embrace and retain the glory curls.
Customer
• Identify your targeted customers, their demographics
Ans- demographics age,gender,income group,status, occupation.
Competition
• What products and companies will compete with you?
Ans- Same segment to offer in fashion, wellness, lifestyle and of grooming world.
• How will your products or services compare with the competition?
Ans- Competitive advantage - USP of natural grooming range.
Brand Standardization- Testimonials of prestigious customers,
Brand Hit over Social Media reforms for Quality servicing.