Business Plan of Beauty Salon - PDF

Added on - Jan 2020

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BUSINESS PLAN1
TABLE OF CONTENTSLiterature review Theme 1: Trends towards the organic beauty parlour in Auckland, New Zealand..3Business IDEA.....................................................................................................................................6Description of the business idea.......................................................................................................6Vision and Mission of the firm.........................................................................................................7USP:..................................................................................................................................................7Key stakeholders...............................................................................................................................7PESTLE analysis of Auckland, New Zealand..................................................................................7Potential customers and stakeholders...................................................................................................9Analysis of competition and marketing strategies..............................................................................11Marketing mix....................................................................................................................................12Critical successive factors:.................................................................................................................13REFERENCES...................................................................................................................................142
ObjectivesTo assess the trend towards organic beauty parlour in New Zealand.To enhance profit margin by delivering the quality services to the customers.To build and sustain competitive position in the field of parlour.Research questionsQ.1 what is the trend towards the organic beauty parlour in the North Island of New Zealand?Q.2 assessing the impact of quality services on the customers decision making?Q.3 which kind of factors helps company in gaining competitive edge over others?LITERATURE REVIEWTHEME 1: TRENDS TOWARDS THE ORGANICBEAUTY PARLOUR IN AUCKLAND, NEW ZEALANDIntroductionVarious research papers that are relevant to organic beauty parlour will be analysed in this section. Theliterature will be critically analysed and gaps in the literature will be identified. Literature that are relevant tothe objectives of the research are given in the sections below.THEME 1: TRENDS OF THE ORGANIC BEAUTY PARLOUR IN AUCKLAND, NEW ZEALANDAccording to the viewpoints ofCretu and Brodie, (2007)customers in the Auckland are consciousregarding personal health and hygiene. Gradually, customers demand shifted from chemical products to theorganic one. According toAshby and Webley, (2008)alone in 2011 in the New Zealand, market sharetowards the organic hair care and cosmetic are increased by 32.1%(Organic Personal Care ProductsMarket: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018, 2012).Further, mentioned authors also stated that sales revenue of the organic beauty parlour of New Zealand willgrow by 9.9% from the period of 2012 to 2018. As per views ofJones, (2008)this aspect clearly shows thatthere is a growing trend for organic beauty products in New Zealand. However, there are no standardsframed by the government authority for ensuring the quality of such organic beauty products. Hence, due tothis people hesitate to procure the services of organic beauty parlours.Schafer, (2008)stated in the study that customers prefer organic beauty products incomparison to chemical based creams, shampoos, lotion, and conditioner. Moreover, organicproducts made from plant based ingredients are good for skin as they does not have any negativeimpact on human body. This is the reason due to which large number of customers are preferring to3
use organic beauty products.However, on the critical note Roy & Hoque, R. (2015) found thatparlours which make use of organic products have responsibility to perform safety and efficacy testby their own. Moreover, each beauty product does not suit to the skin of all people. So, if wrongproduct will be referred to the customer then it may negatively affects their skin. Moreover, skin ofsome people are highly sensitive in nature. Due to this reason it is very important to referappropriate beauty product to the client.According to theLi, (2009)demand for organic beauty parlours and products rising with thehigher rate. Moreover, organic products are eco-friendly and does not place any bad impact on theskin and beauty aspect of the individual. Organic products that are referred by the firm to customersare highly safe. Sales of organic product will incline by $7.6 and $13.2 billion at the end ofaccounting year 2018 (Santoso. T., 2013). Customers of Auckland have good attitude towards theorganic beauty products. Hence, there are high level of earning and growth opportunities areprevailed in the north Island (Auckland) of New Zealand.Theme 2: Factors that affect the decision making aspect of customersSkin products are used to increase beauty of an individual as they make fair colour of humanbeing.Customers make decision in relation to making use of the services on the basis of researchoutcome about product andpricing (Paulose, 2011). Customers of parlours primarily makecomparison of the products which are used by the as compared to others. Customers are highlypriced conscious in nature and make purchasing decision after evaluating such element (Garrow,2010). Hence, it can be assumed that by considering price factor parlour owners purchase organicbeauty items. However, on the critical note, (Lee, 2006) said that lifestyle is one of the main factorswhich have high level of impact on customer decision making. Thus, by considering lifestyle of anindividual product must be offered to him.Customer’s decision making takes place through several stages which are considered by thecustomers for the purpose of determining effectual framework. Individual primarily assessestheneed in relation to making use of the services like parlour. In the second stage of the decisionmaking process an individual set some criteria or parameters that are used by him to make purchaserelated decisions in respect to organic beauty items. After determining criteria one identify thealternative organic products that are available to him in respect to the specific need. There are many4
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