Now that you have defined your goals and conducted your situation analysis, it's time to create a strategy to help you to achieve your goals. Next, you will complete your Marketing Strategy. In the Ma

Situation Analysis

Name: John Blair

Institution affiliation: Rasmussen College

Date: July 13, 2018

Situation Analysis

Target market

The main target population are students, employees and business men. Furthermore, most of the target clients those choosing the grooming services for men depending on their proximity to their travels that is from their home areas to work, those seeking for excellent pricing and high quality for their services. Thus, with our services and catering for male and female professionals, there is relatively less or no competition.

Market Trends

In spite of the continuous growth of the barbershop, there are still gaps that exist primarily in my strategic locations. The businesses will be established in shopping centers near the residential to attract clients. Virtually in the selected locations, there has been no high-end barbershop or customer support services that have been in existence in the vicinities. Consequently, our facility will be established in such locations thus providing a substantial competitive advantage. Blair barbershop with target areas consisting of the young for instance students and families who exist within the seven-mile radius from its location, therefore, there must be huge traffic. Another factor would be places where there are other supporting businesses established for a mutual coexistence an also an indication of market growth.

Market Needs

The traditional barbershops which were in existence have often been substituted for salon's, or spa's that only focuses on women. However, the professional men are now style conscious, for instance, those men who have reached the modicum levels in their professionals. These men are willing to pay wholesomely for those products or services which are geared or explicitly customized for men. From the information I got from Design Essentials, (2018) men are continually looking for quality products, services, and camaraderie. Mostly are attracted in establishments where they can have discussions, network, read newspapers or watch sports.

SWOT Analysis

SWOT analysis indicates what a business experiences during the establishment and growth (Burns, 2016).

From the environmental analysis I found out four significant strengths which are essential to achieving success as the owner of Blair barbershop:

• The business is targeting mostly men. Thus it can be adapted to their needs thus fulfilling the need for creating places where men may not feel dominated by women.

• Location. The location of Blair barbershops are in areas where there are no others in the neighborhood, and there is a lot of traffic thus attracting new clients.

• There is a customer-centric approach that is the staff will be trained in handling customers.

• The highly skilled team that is our clients need to feel the value of their money with a good haircut.

Some significant weaknesses to address which are considered include:

• The income depends on our customers there should be a balance between the customers and the staff to make profits continuously.

• The business may have higher prices when compared to other salons thus investing more to retain customers.

There may be opportunities such as:

• Opportunity for growth as the business increases its profits.

Threats include:

• The possibility of similar enterprises established in the areas where the Blair barbershops will be set.

Main Competitors

The main competitors’ area the already established barbershop which is currently operational in most places in the country and are located across our vicinity. The Strengths of these establishments are the vast array of services they offer and their huge capital in their investments. However, the opportunity lies in the limited services that these establishments give targeting men that is shaves, hair grooming and shoe shines. Therefore, our market advantage is quite open.

Products and Services

Blair is considered as a full-service barber shop that will offer exclusive services for male and the female gender. The customers will get a conducive club atmosphere, which will have a complimenting range of products and services, and that include hair treatments, cut and style, color and toner. There will be other services, for instance, hair laser removal, waxing services, massage, manicures and pedicures and also shoe shining. The barbershop will also offer products such as skincare, accessories, shaving creams and bath oils. Additionally, it may offer acupuncture and chiropractic services. Blair barbershop will remain involved in best hair styling and implement the health techniques as deemed appropriate for Blair’s clientele.

Reference

Burns, P. (2016). Entrepreneurship and small business. Palgrave Macmillan Limited.

Design Essentials ( 2 July 2018) Retrieved from http://designessentials.com/about-us/