Essay On Hair Solution Marketing Plan
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Her Hair Solutions Marketing Plan
Her Hair Solutions is both a health and a wellness center. The company deals exclusively civilian women, active duty women and military veterans served as a female veteran in the Armed Forces. Besides being a veteran, she also is a certified hair loss specialist and has an experience of more than 20 years in cosmetology training. Her Hair Solutions has a goal of determining the route cause for hair loss among women. This goal comes from especially national reports that indicate that there a total of 8 million people who either permanently or temporarily lose their hair. The hair losses have been attributed to a number of medical reasons such as inadequate intake of protein, high fever, thyroid diseases, childbirth, areata, alopecia, chemotherapy or radiation during cancer treatment, birth control pills, and stress control pills among many other medical reasons.
Her Hair Solutions as a company has come up with various marketing strategies aimed at reaching out to more people who suffer from hair losses. The first major marketing strategy that the company has used is branding (Head, 2014). The product of the company is accompanied by a very intensive slogan as well as an equally intensive logo. The slogan is based on three R’s that is “Reclaim”, “Revive” and “Restore”. This makes the product not only catchy but also memorable. The logo is also equally catchy to attract new customers and has the company name as well as the slogan.
The other marketing strategy is through pricing. The price of the products of the company and the services is particularly based on the level of competition that the company faces such as the many companies that develop shampoos. The company after observing the price trends in the market it sets a price that allows it to attract more customers as compared to its competitors. This helps with stabilization of the company in the industry (Head, 2014).
The other major marketing strategy that the company uses is the distribution of its products and services. The products and services are only available within the Greater Pittsburgh and are only accessible to females and not the general public. However, the company distributes the products to customers who are not within the reach of the company. This helps the company to boost sales and to retain customers (Head, 2014).
The final marketing strategy that the company uses is promotions (Head, 2014). The company uses the Internet, flyers, and banners. The promotion is targeted at both young girls and elderly women. For the young girls, the main point of focus of the promotion is to beauty and health while for the elderly women the promotion is majorly based on practical applicability. The company also uses integrated marketing communications strategy. This is done especially through advertisements on television, radios, and newspapers.
The company faces both intra-competition and inter competition. A total of seven hair loss clinics exists that offer services and products to both men and women. These companies offer similar products and services as Her Hair Solutions and are located both in Great Pittsburgh and outside. The major competing companies include Hair Club and Bosley Corporation. The advantage that Her Hair Solutions have over these competing companies is that the competitors offer limited services for their customers. Competition has both advantages and disadvantages to a company (Lewis, 2015).
Strengths and Weaknesses of the Company
The first strength is that the company has gained its reputation. This is attributed to the fact that the products are developed from natural extracts. Also, the brand image contributes significantly in branding the company. The company through the brand image has its products recognized and acknowledged by many people in Pittsburgh. The other strength of the company is its diversified portfolio of its services because of its minimization of the possible risks for the company. The final strength of the company is that it uses high quality in developing unique services for its customers.
The company also has various weaknesses. The first weakness is that there is limited market share for the products and the services that the company offers. There are not a lot of people who suffer from hair loss, and there is also competition. Another weakness is that some of the products of the company depend on the limited number of suppliers. Therefore, the company at times experiences shortages and delays in supplies. The final weakness of the company is that it depends on certain key components for the manufacture of its products. This is because the product and services are innovative.
A differentiation strategy is particularly very important concerning the company's closest competitor. The company only provides products and services to the female gender. The products are also developed only from natural extractions. Another differentiation strategy is that the products and services of the company can only be accessed from Greater Pittsburgh. All these strategies make the company different from its competitors and support the company's intentions of being a leader in the industry (Kelchner, 2015).
The marketing strategies and the differentiation strategies are implemented in a number of ways. First, the company has a team of collaborator that it works with to implement these strategies. Again the company has medical professionals who verify the quality of the products before they are released into the market. The company also has trained production team, managers, distributors and marketers who ensure the success of the whole process.
Despite the competition that the company faces and the limited market share of the hair loss products and services, the company has still plans for expanding. The expansion is aimed at taking place in the next half decade and is to the rest of Pittsburgh, other states in the US and across the American continent. The company aims at increasing its market shares as well as the future profitability. This is to be effected by intensifying promotions and creating of more outlets in the United States and worldwide. Also, the company aims increasing the number of its suppliers.
Social Media Strategy
Her Hair Solutions also uses social media tools to develop its market plan. The first social media tool used by the company is Facebook. The company has a Facebook Page in which it makes daily updates about its services and products. It also uses this page to market new products and to educate people about its products and services.
The other social media tool used by the company is Twitter. This tool has many users and is a very effective marketing platform for the company. The company also updates the news on its products and services for its followers to see.
Assessment/Monitoring Overall Performance
The first monitoring method that the company uses to assess the quality of the services and products is by getting feedback from the consumers. The company has a program that the consumers are after using the company's products and services they give feedback. The feedback is usually on how the effective the product or service was. The other monitoring method that the company uses is the evaluation of the performances of the company’s products and services as compared to the products and services of the competing companies. This helps the company to understand its position in the industry in relation to completion. The company can, therefore, make necessary changes in its areas of weakness before its too late.
The performance of the company has to meet certain standards. First, the quality of products and services of the company must meet the American standards and the worldwide standards when the company expands. This ensures the safety of the users of these products and services and prevents the company from being shut down by the law. The other performance standard that the company must meet is the provision of pricing that is acceptable to the consumers while at the same time profitable to the company. This is specifically very had to balance but with deep analysis of the market structure it is achievable (Markgraf, 2015).
The first financial control of the company that is applied by the company is pricing of the company’s product and services. The pricing is done in relation to the expenses of the company as well as the pricing of the consumers. The pricing is also done with the consumer’s capability and willingness to spend a certain amount on the services and products. The other financial control of the company is on the marketing expenditure. The company usually has a certain specified amount that can be used in marketing and promotions of the company’s products and services. This is to ensure that the amount spent on marketing and promotions is as little as possible and attracts the highest number of customers possible.
Macro- environmental issues
Some of the major macro- environmental issues that the company faces include legal issues, technological issues, social issues, and economical issues. In terms of legal issues, the company has to have licenses of its products and certificates certifying the business. This is at times challenging especially because the company products are herbal. Technology has also been a major challenge because the company has to change its machines from time to time with the rapidly changing technology. Most of these machines include production machines. Also, in the current society there are many people who don't believe in naturally extracted products. The company has also been accused of gender discrimination especially because it only makes products for girls and women. The major economic challenges facing the company are on the other hand inflation and low wage rates for the customers of the company. This makes it very difficult for them to purchase the product and as a result therefore indirectly affects the company (Ahmed, 2014).
Her Hair Solutions is a health and wellness center focused on providing hair loss solutions to girls and women. The company has a lot of competitors and has therefore employed various marketing strategies in to boost sales. Besides competitor, the company also faces macro- environmental challenges.
Ahmed, G. (2014, June 2). How Marketing Macro Environmental Factors Affect Business Strategy.
Head, G. (2014, june 2). 5 Keys To A Great Small Business Marketing Strategy.
Kelchner, L. (2015, June 2). Advantages of Product Differentiation Strategy.
Lewis, J. (2015, June 2). The Advantages and Disadvantages of a Competitive Workplace.
Markgraf, B. (2015, June 2). How to Evaluate A Company’s Performance.