What guiding principles can help hair salon businesses to improve their performance? Attract More Clients According to Chad Halvorson in Business & Trends Oct. 16 Create promotion; Give current customers the opportunity to earn rewards for bringing in friends, family, and even strangers. They can offer discounts on services, free products, or consultations—anything to get new people in the door. Likewise, they can offer new clients discounts in order to eliminate their fear of the unknown. Different clientele target.
It is actually quite the opposite, Wal-Mart’s supply chain is very customer focused, which is what gives them an advantage over their competitors. Wal-Mart focus’s on the customer and employs a pull strategy, where the demand from customers is the basis for production for Wal-Mart suppliers. This gives them a unique production method, in that they do not produce based on traditional methods rather it is based on short-term forecasts of demand generated by their customers. This allows them to not only keep stock costs low, it also allows them to track demand of individual products. This results in lowered costs of advertising and promoting products because they are able to accurately track demand and can adjust their advertising based on what is selling and what is not resulting in more accurate marketing efforts.
Servicescape refers to the environments in which services are delivered and where the firm and customer interact. It is important to create an environment that portraying the kind of service to be served and to find a good way to present it. It is most importantly to build a pleasant environment. Kim (2005) explained developing environments that appeal to consumer pleasure and arousal states while avoiding atmospheres that create submissiveness increase buying potential of the customers. Referring the hair salon, the environment is plain and less appealing.
However, there is one way that many companies don’t utilize enough. It is through the process of market research. Take a local hair salon as an example. It is likely they will do plenty of marketing to increase their client base, yet probably do very little in terms of research. Perhaps the importance and value is overlooked.
This consumer has the need for a cosmetic brand but does not feel they should be paying for something where they are ... ... middle of paper ... ...e a very useful tool to them. We can see that many of Mistine’s product and marketing techniques fit multiple profiles of the VALS, but they are still limiting themselves to very small portions of those markets. By understanding and analyzing consumer buying habits with the use of VALS, they can begin to expand further into those markets and also reach consumers outside their current marketing. The more marketers know about their target consumers, the better they can design products and services and develop marketing strategies and communications that will appeal to the target (Strategic Business Insights, 2010). Resources: Ferrell, O.C.
Although the fashion industry has benefited from not having patents; Competitors constantly steal ideas from each other and cost for consumers are lower as a result. The existential U.S. Patent laws we have today are counter productive and slow the process of innovation in other fields. The fundamental idea of patents is that it is an agreement between inventors and society. The inventor is encouraged to keep inventing to benefit society and as a return the government grants the inventor with a monopoly over its sale. Patents were written about when the Constitution was framed.
This will be beneficial for the business since using a direct method will cut down significant costs and expenses from the overall system because as a fashion store, The Closet will not be required to pay profits to intermediaries such as wholesaler, distributors and retailers. Moreover, the business will be able to reduce its expense of shipping and establishing a distribution intermediary, as a result, lead time will ultimately be shortened. Direct shipping will help the business have a better opportunity in controlling over distribution and its entire procedure since the business will be the main head that will oversee the entire process. Also, The Closet will have additional control and authority over how dresses will be displayed, advertised and delivered to customers. Furthermore, because of
Although the importance is neither high nor medium, Myra should keep an eye on what the third party operator is doing with her website. Portabilit... ... middle of paper ... ... the business stays profitable. In order for an organization to stay profitable, senior management (Myra) will need to do their homework and review the current market on a daily basis. For example, researching certain styling trends and making sure that customers are aware may give UMUC Haircut’s the competitive edge over another company. This area would not receive a ranking due to the fact the not all of the buyers and sellers are businesses or organizations.
For example when... ... middle of paper ... ...cts is becoming easier since it is no longer a niche market. A case like this represents consumers motivating businesses. A business’ goal is to provide a product for consumers, but lately consumers want more environmentally safe products which make it easier for companies to step into knowing that the market is safe rather than putting a product out there that has a high risk of failing. Consumer behavior does not stop at buying and using a product. There is also post product evaluation which is our thoughts of the product weather we are satisfied or not and if the product is what we expected, are the reviews of the product meeting our standards.
In five years, I see myself owning and running my own company. I hope to have learned the marketing and advertising skills I need so that I can keep up with society’s rapidly growing economy. I see myself owning a company because throughout my life, I have always thought about and