Starting a Business and Fundamentals of Marketing

Starting a Business and Fundamentals of Marketing
Introduction
A business plan is essential before starting any venture
or enterprise as it is a written document which
includes everything in detail with regards to the
objective, mission and goals of a business and how it
is going to be achieved.
What the business is all about
Belleray Beauty Saloon is a full-service salon
committed towards providing complete and quality
solutions to the customers of United Kingdom such
as skin and hair treatment; spa and wellness along
with makeup solutions to the artists, bridals,
celebrities and designers.
• Vision
• Objectives
• Mission
SWOT Analysis
• Strengths: Experience and expertise in the
hair and skin treatment for 20 years.
• Weaknesses: Premium pricing strategies
and high cost of operations.
• Opportunities: Most beauty salon doesn’t
focus on men but Belleray includes male in
their customer segment
• Threats: Increasing government taxes and
strict regulations.
Porter’s five forces
• Threat to new entry: Due to high profit
potential many wish to enter into market.
However, it is difficult to get a position of
Belleray Beauty Salon as it requires a huge
investment, time, knowledge and expertise.
• Threat to substitute: Belleray Beauty Saloon
can face the competition from Ayurvedic and
organic treatments; therefore, business is most
likely to get influence.
• Degree of industry rivalry: As everyone in
this industry is opting for new strategies to
make customer feel welcome and friendly and
making efforts to outperform other
competitors through innovative approach, thus
intensity is high.
• Bargaining power of buyers: As there are
several other competitors and availability of
substitute products makes the bargaining
power of buyers high.
• Bargaining power of suppliers: The intensity
of suppliers is low as Belleray has numerous
sources and many branded companies to get
the cosmetic and beauty products.
Background and Expertise
Belleray Beauty Saloon is providing services in United
Kingdom since more than 20 years. The salon has been
providing wellness and grooming services to the women
and men, with a prime focus over women clients, who
aspire to look good and focus on their personal
development, grooming and pleasant appearance.
Target Market
• Segmentation: At this stage Belleray
beauty salon takes into account several
features of the customer segment such as
demographic, behavioral and geographic.
• Targeting: Belleray targets specially to
young ladies and adult women who are
working professional and concerned about
beauty and willing to pay exorbitant price.
• Positioning: Belleray finally positions
itself as an ideal and unique service
provider of health and skin treatment in the
city of Glasgow through their expertise and
best solutions for the customers dealing
with skin acne and hair loss.