marketing plan for salon praba-120115083508-phpapp02

Marketing Plan for Salon Praba 2011

I


II

Table of Content

Page No.

Acknowledgement I

Table of Content II

1 Executive Summery 1 - 2

2 Introduction 3

3 Historical Background of the Salon 4

4 Mission Statement 5

5 Situation analysis 6 - 17

5.1 Market Analysis 7 - 9

5.2 Customer Analysis 10 - 11

5.3 Financial Analysis 12

5.4 Competitor Analysis 13 - 14

5.5 SWOT Analysis 15 - 16

5.6 PEST Analysis 17

6 Objectives 18

7 Strategies Development 19 - 42

7.1 STP 20 - 30

7.2 Marketing Mix 31 - 42

8 Budget Forecasting 43 - 44

9 Control & Implementation 45

10 References 46

Appendixes 47 - 54


1

1. Executive Summary

Salon Praba is one of major salon in Katubedda. It was established in 2008 & still operates

their business very successfully.

Katubedda is one of urban city which consists of 10,257 populations. Not only that but also

there are so many Public & Private Firms (Water Board, Telekom, Media Industry), &

Educational & Tuition Centers (University of Moratuwa, German Tec, Other Private Tuition

Centers & etc). By considering above things it will generate more opportunities to Salon

Praba. But there are three beauty salons & one Auyrvedic Herbal Spa with skin specialist

brings more threats to survival of salon.

After considering all these factors our group decided to make marketing Plan for Salon Praba

to enhance their sales with satisfied customers & to provide better quality service than

competitors.

As an initial step in marketing plan we tried to identify the background of the salon Praba. By

analyzing product life cycle we identified that they are still in growth stage. They have big

competition from surrounding & have to implement various marketing strategies for survival.

They have already caught 35% of market share & 7% growth in sales when comparing with

the previous year 2009.

They have segmented their market in to four aspects like children, teens, young ladies &

adult women to provide various services like hair cutting, hair decoration, dressing, skin

treatments & so on with the purpose of treating their customers in better manner. They have

higher demand from Young Ladies & adult women when comparing to other segments.

Within next year they hope to enhance their sales by 8% & retain existing customers & attract

more customers. According to this situation we make following recommendation to achieve

their objectives in effective manner.

Introduce new services at affordable prices.

Use new technical instruments.

Always aware about changes in beauty cultural field.

Increase the flexibility & quality of services.

Changed the Salon Name.


2

Introduce a new logo for the salon.

Open the services to gents also.

Open new salon in other urban city.

Use more promotion campaigns.

Design their own web site for salon.

Create good relationship among employees.

Improve the effectiveness of telephone operator & receptionist.

Elegant dress code for staff.

Use book keeping method.

Increase the internal capacity.

Arrange & keep cosmetics & instruments in proper way.

Changing the building layout, interior and office furniture colors.

Provide piped music inside the salon.

So if they could reduce their mistakes and apply above changes we believe that they can

solve their problems & it will help to achieve their objectives in an easy manner.


3

2. Introduction

This Marketing Plan for Salon Praba was carried out to enhance their current status by

significantly increasing profit through providing valuable services to their existing &

newly joined customers.

So in here first we analyzed current situation of Salon Praba while conducting market,

customer & financial analysis. Not only that but also we tried to identify the strengths,

weaknesses, opportunities & trends by doing PEST & SWOT analysis.

Secondly we set some marketing objectives for Salon Praba which will be achieved

within next year. After that we developed strategies by using STP & 7Ps’ to achieve

those objectives that are previously set.

Finally for the control part we forecasted budget for year 2011 & it’ll give direction to

how to manage finance for modifications which needed for the proper implementation

of this marketing plan.


4

3. Historical Background of the Salon

Name - Salon Praba

Location - Katubedda,

Moratuwa.

Founded Year - 01.01.2008

Owner - Miss.Prabhani Senadheera

Initial Capital - Rs: 500000/=


5

4. Mission Statement

VISION

“TO BECOME A LEADER OF SRI LANKAN BEAUTY

CULTURAL INDUSTRY”

MISSION

Upgrade the living standard of customers by providing high quality

services to affordable price & enhance the strong relationship

among customers by treating them in friendly manner to get their

loyalty.


6


7

5.1 Market Analysis

Evaluating the current market situation is most helpful to understand specific needs & wants

of potential customers, how to serve them, how to attract more market share & the leverage

situation of Salon Praba.

Target Markets:

Target Market Forecast

Potential

Customers

Growth Rate 2008 2009 2010

Children

(3-12 years) -2.05%

8.33% 4.9% 1.38%

120 100 50

Teens

(13-19 years) 0.38%

13.88% 13.2% 13.66%

200 270 490

Young Ladies

(20-30 years) 3.90%

55. 5% 56.3% 59.4%

800 1150 2140

Adult Women

(30 above) 3.33%

22.22% 25.49% 25.55%

320 520 920

1%

14%

59%

26%

Sales - 2010

Children Teens Young Ladies Adult Women


8

Market Demographic:

The profile for Salon Praba consists of following geographic, demographic and behavioral

factors:

Geographic:

The immediate geographic target is the city of Katubedda & the surrounding

communities with a total population of 10,257.

They have spread only around 10 miles of geographic radius.

The total target population is 4500 per year.

Demographic:

Children, Teens, Young Ladies & Adult women.

Age Vs Demand

3-12 Years 0.1%

13-19 Years 14%

20-30 Years 26%

30 Above 59%

Mainly provide service to the ladies.

The Young Ladies & Adult women who employed & engaged in higher education

pay more attention about their beauty, but are unwilling to pay the exorbitant charges

associated with it.

Teens also consider more about new fashion methods, reasonable prices, &

convenient.

The children do not have any major preferences other than having toys to play while

they are waiting.

Individual income of working women is at least Rs. 15000.

marketing plan for salon praba-120115083508-phpapp02

Documents