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MK4024 – Contemporary Marketing Principles

Added on - 07 Oct 2021

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Running head: MARKETING PRINCIPLE
Marketing Principle
Student’s name:
Name of the University:
Author’s note:
Executive Summary
Kinder Salon, a new start-up is going to open its first salon in Larnaca. Kinder Salon will offer
haircut, hairstyling and hair colour to the children aged between 2 and 14 for the general
purpose, party-ready and event-ready. Kinder Salon will have a playground for the children and
the children can have fun activities during the haircut. PEST analysis of Cyprus has also been
explained to show the external environment which could impact the new start-up. The current
political condition of Cyprus is unstable; however, the economic situation of Cyprus will help
Kinder Salon to start their business. Kinder Salon will use the best technologies to style the hair
of the children. SWOT analysis has been conducted of Kinder Salon to understand the strengths
and weaknesses of the organisation. Target customers of Kinder Salon will be the higher-middle
class parents who would take the children to the salon. Some of the parents get anxious when
their children visit the salon as children are reluctant to visit the salon. Kinder Salon will be
positioned in the market as the low pricing and high-quality quadrant. Kinder Salon will keep the
price low so that the customers visit the salon in large numbers. Major objectives of the business
are to increase the market share and open a new salon in two other places. Kinder Salon will
promote the business through outdoor advertising, social media and discount pricing. A financial
plan is also attached to the business.
Table of Contents
1. Brief overview of the business plan.............................................................................................4
1.1 Business Mission...................................................................................................................4
2. Situational Analysis.....................................................................................................................5
2.1 PESTLE Analysis..................................................................................................................5
2.2 SWOT analysis......................................................................................................................7
3. Marketing objectives...................................................................................................................8
4. Core strategy................................................................................................................................9
4.1 Segmentation.........................................................................................................................9
4.2 Targeting..............................................................................................................................10
4.3 Positioning...........................................................................................................................10
4.4 Competitors’ analysis..........................................................................................................11
4.5 Competitive advantage........................................................................................................12
5. Marketing mix.......................................................................................................................13
6. Financial Plan............................................................................................................................14
7. Control and measure..................................................................................................................19
Reference List and Bibliography...................................................................................................20
1. Brief overview of the business plan
Kinder Salon, a hairdressing salon for children with staffs that entertain children, even
the salon will also have a playground. Kinder Salon will be based in Larnaca, Cyprus. Kinder
Salon will provide unique haircut experience to the children in the playground and the staffs will
be experienced in the field. For the parents, it is always a thing of anxiety when they take their
children to the salon for a haircut. The hairdressers know the kids who wail, wiggle and may
even bite the hands that shear them. There will be a restroom and waiting rooms for the parents
who would come to the salon with the children. There will be swing, Bugaboo, rides pin, slip,
carousel and deep diver inside the playground where the children can play. This Kinder Salon
will be for the children aged between 2 years and 14 years. There will be a kids’ library where
the children can read books also. This salon will offer different types of haircuts to the children.
The salon experts will use the latest cutting edge technology to cut, colour and style the hair. The
parents can take the children for a general haircut, for party-ready and for events by making an
appointment.
Hours:
Monday: Closed
Tuesday- Friday: 9:30am -7pm
Saturday and Sunday: 10am – 4pm.
1.1 Business Mission
The mission statement of Kinder Salon is to be the one-stop hairdressing salon for new
haircuts, styles and colours for the children where the haircut is amusement and fun.
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