Submitted by: Submitted by Daone1983
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Category: Business and Industry
Date Submitted: 05/05/2013 06:03 PM
Assignment 1: Company Introduction, Market Segmentation, and Product Positioning
Dr. Dotty Heady
Market Management – MKT 500
April 28, 2013
Identify the marketing segment for the product and explain why this segment was selected. Mike’s Beauty Salon will be targeting three different groups of clients. The salon will work hard to particularly appeal to each of these groups. Mike’s Beauty Salon will target Women, Men, and Children. Men will routinely generate up to 70% of the clientele. On average men require less time in the shop because they have shorter hair. Mike’s Salon will gear toward women who cannot meet the expense of an upscale salon. There is not often a variation in quality of an upscale salon comparative to a family hair salon other than a upscale salon will tend to pamper you more, only accepts appointments, and the salon itself is generally a bit more put together. Someone who is financially responsible as opposed to someone who likes luxury will support a family style salon. Young mothers and children will also be welcome in my salon. Typically, children are notoriously complicated when it comes to getting haircuts. Mike’s Salon will be a laid-back environment where children can have fun and watch movies while they are waiting and we will work with parents to compose children while they are getting haircuts.
Mike’s Beauty Salon will target each one of these groups separately. The men will be targeted by offering quick and convenient service. Men usually keep their hair short and will need to be groom more often than women. Male clients will be catered to in the evenings and appointments will not be essential. The majority salons are closed when men have free time so; I will be open extensive hours and even on Mondays to compliment my working clientele.
Generally, women desire the attraction of upscale salons; however, not everyone can meet the expense of this luxury. For this reason, Mike’s Salon will offer the same quality hairstyling,...