Business Project Chapter 5

Business Project Chapter 5
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  • - 70% of the customers go to the salon once a month - On average they pay $25 for a haircut - Many like the idea of having a salon in the neighborhood  -Services should be more affordable  
  • Marketing Concept: uses the needs of customers as the primary focus during the planning, production, distribution, and promotion of a product or service.
  • So based on my research opening a salon would be a good idea.
  • Marketing mix: is a blending of the product, price, distribution, and promotion used to reach a target market.
  • Both my products ans services are useful and fulfill the needs and wants of customers, the prices i will decide are affordable and vary between $10-$40 depending on the product and service.
  • Research
  • Marketing strategy: which is a plan that identifies how these goals will be achieved.
  • Medium-Term Goals: to increase the amount of services and products i will sell 
  • Long-Term Goals: open up salons in different locations
  • Marketing plan: is to define your market, identify your customers and competitors, outline a strategy for attracting and keeping customers, and identify and anticipate change.
  • Definition
  • 2. Target Market  People in the community.
  • 1. Product or Service Provide Hair services ( hair styling, coloring, treatments etc) and hair products (Hair spray, oils, shampoos etc).
  • Definition
  • 5. Business Location In the neighborhood, place is where an old salon was shut down 5 years ago.
  • 4. Marketing Budget Rent = $1200 Products= $500 Budget=$5000
  • 3. Competition  There is no competition
  • Marketing is an important term.
  • Short-Term Goals: to attract a lot of customers, to do that i have to  make my prices low.
  • To figure out whether a salon is good business to open she  did some research.  
  • Answering questions that have to be on the marketing plan 
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