Discuss about the Marketing & Management Lash And Brow Boudoir.
Marketing is an important part of strategic management it helps the company to directly deal with the end customers in understanding their need and requirements developing the products or services according to the changing dynamics of the industry (Kotler et al. 2013). The concept of marketing mix has initially 4 elements, product, price, place and promotion; later other three elements were added. A marketing plan revolves around these elements of marketing mix and helps a company develop products which will help in earning revenue ad serving the customers better (Kotler et al. 2013). In this assignment the organisation that has been selected is called Lash and Brow Boudoir.
Explained as one of the finest lash and brow destination of Melbourne, Lash & Brow Boudoir offers a luxurious service to the clients. There are two salons one in Prahran and the other is in Richmond. The services of the organisation are unique as it specializes in lash and brows. The company calls the employees of the organisation artist as the work that they do is compared to art. The salon offers the clients a relaxing experience and damage-free beautiful brows and lashes so that the eyes are the main feature for the clients to flaunt. Specializing in just a segment of the beauty community the salon provides some exclusive services in the lash and brow segment unlike any other salon in the region. The company is a small scale operation and has a number of competitors in the market. Australian government supports business and trade and has a number of provisions in order to encourage Small and Medium organisations. The beauty industry in Australia is also growing rapidly thus providing opportunities for small scale organisations like Lash & Brow Boudoir opportunities. With the help of technological advances and increased use of technology and internet among the common people the industry has received boost, social media influences the industry as well (Campbell 2016). The services that Lash & Brow Boudoir offers have a number of opportunities owing to the growing industry and increased demand of the specialized services; the company just has two branches and has opportunities of expanding further more. The service of the salon that is going to be focused in this assignment is the lash service (Lashandbrowboudoir.com 2018).
There are a number of services that are offered by the salon, these include lash, brow, cosmetic feather brow tattoo, waxing. As the focus is on the lashes the service is going to be explained below.
Eyelash grooming and extensions are a raging trend in the beauty community, from social media beauty influences to make up artists everyone is raving about this trend, the leashes are a prime beauty feature of the face and the eyes, and thus it is important to take care of them and to enhance their look. Wearing false eyelashes or extensive eye makeup can impact the natural eyelashes; this is where the importance of the service comes up (Hutchinson et al. 2015). There are people who have unflattering and parse eyelashes for such clients the lash services are ideal. There are a number of styles of lashes that are at the service of the customer and the procedure are taken care by trained and certified experts. The company claims that the lash extensions that do not do any damage to the skin or eyes, as eyes are one of the most sensitive areas, several people are apprehensive of the service (Baker 2014). The extensions will not damage the natural lashes and will blend seamlessly. There are a number of options for the customers to choose form depending upon their taste and the look that they are trying to achieve. The official website of the company has the complete list along with the price and the terms and conditions are also described for the clients (Lashandbrowboudoir.com 2018).
In order to understand the internal marketing environment the it is firstly important to understand the market mix of the company aligned with the external environmental factors that impact the business.
Product or service: The service that is going to be discussed is the lash services; the company provides grooming and adds natural looking eyelash extension for the clients. This is a specialized service and not all beauty salon provide this, the company has trained professionals who are skilled and certified to handle such delicate procedure. It is important for the company to understand the requirement of the customers and explain their choice they have while picking up the set of lashes (Lashandbrowboudoir.com 2018). The service is created after the trend of looking after the lashes which are caused due to a number of reasons. The company has introduced a new service in the lash department: lash tint and lash lift (YouTube 2017). The One Shot Lash Lift is a perfect solution for the ones who are not willing use to extension service, the procedure curls and lifts the natural lashes and keeps them in place for around 8-10 weeks (Lashandbrowboudoir.com 2018).
Piece: The service is on the luxury end and there are also cancellation charges that are imposed on the clients (Lashandbrowboudoir.com 2018). The Lash and Brow Boudoir understand the importance of time and hence they encourage a 24hr prior booking and each appoint will cost the client $50 AUD. Furthermore, depending up on the set of lashes that the client choose the price will range from $75- $280. Therefore, it can be said that the procedure is an expensive indulgence. On the other hand, the lash lift procedure ranges from $85- $99 based on the time and the range of service (Lashandbrowboudoir.com 2018).
Place: the company has two outlets one is in Richmond this is the original salon which and the other is in Prahran. The clients have to book an appointment in order to get the services (YouTube 2017).
Promotion: The organisation is new and operates on a small scale basis, they do not use extensive promotion, social media plays an important role to connect with the customers and to communicate them with the discounts etc (Nobre and Silva 2014). Apart from that as a company that operates in the service sector serving the client is the most important business function therefore the company uses CRM methods to improve the value of the customers (Sok et al. 2013).
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Strength · The company has good resources in terms of skilled employees who have the certified training to handle delicate procedure · There are a number of styles to choose from therefore increasing the range of target market, the customers can choose from a very subtle natural style to full glam look. · The ambience and the arrangement of the salon is relaxing and gives the idea of indulgence and calm in the minds of the people, the behavior of the staff and the no-fuss procedure adds to the strength · details and information is easily available on the internet making decision making for the customers even more easy, the clients do not have to bank on word of mouth to get information for the services. · Refill and removal provisions are also available in the salon therefore providing a holistic experience for the customers (Lashandbrowboudoir.com 2018).. · The lash lift and tint service is an add on again catering to a wide range of target market. · No fuss booking can be easily done on their website; the customers can also call the salon and book or cancel an appointment. · Using latest technology in the procedure to ensure there is no harm caused to the natural lashes or to the skin and eyes of the customer. · 4.6 rating in Google review |
Weakness · It is a small scale operation · Hardly any promotions · The price of the service is high · Cancelation charges imposed on the clients · A number of policies that has to be kept in mind before taking the service (Lashandbrowboudoir.com 2018). · The services are just limited to just lashes and brows making the service catering to a very niche market which in turn reduces the range of target market. As a small scale company it may impact on the revenues. |
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Opportunities · The company has the opportunity to create goodwill and expand the business in more locations of Melbourne. · There is opportunity to add more style options in order to attract more customers owing to the new trends in the market. · The company has the opportunity to provide a better set of options from lash lift services. As the minimum price is high the company can come up with a new set to service that will be priced low. This can be done by introducing the lash perm option (Lashandbrowboudoir.com 2018). |
Threats · There are a number of salon in Melbourne that offer this service · False eyelashes are a cheap and a more convenient option than extension; though it is not permanent it provides the customers with more flexibility in their choice. It can be also done by an individual at their own home and for a person who is used to wearing falsies will take just minutes to add the lashes therefore saving time and money as well. |
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Strength-opportunities · With the help of the talented workforce the company can introduce more trendy as well as some traditional services in order to cater to a large target market · The company has the resources to earn good revenue from the business providing the opportunity to expand the business (Lashandbrowboudoir.com 2018). |
Strength-Threats · The company can also develop a line of false lashes to cover the gap · With the revenue the company can make its brand image and loyal customers to deal with the intensity of competition in the market. |
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Weakness-opportunities · Though a small scale company it has opportunity to expand the business within the geographical boundaries of Melbourne. · The opportunity of expanding the line of services can broaden the target market reach. The company should use the niche service as the main USP of the salon and the specialized service as a proof of the quality that is provided to the customers (Sok et al. 2013). |
Weakness –Threats · Intense competition in s niche service market is a problem that the company has to tackle with all the above strategies that has been stated. · There are chances of customers easily switching over to the competition owing to the policies and strict cancellation charges that are imposed. (Lashandbrowboudoir.com 2018). |
As a SME the company has limited resources and the objective of the marketing plan are therefore planned accordingly:
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SMART |
Objective 1 |
Objective 2 |
Objective 3 |
Objective 4 |
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Specific |
Create valuable customer |
Create a brand image |
increase the popularity |
gather feedback |
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Measurable |
Can be measured by the repeated visits |
Association of the customers with the name and logo |
Yes based on the sales and appointments |
Will be used a data for market survey in order improve the service |
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Achievable |
Yes, with premium service and courteous behavior |
With the help of promotion mix |
Yes, with the help of the promotion mix |
With the help od social media platforms and personal contact with the customers |
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Relevant |
Yes, need to create loyal customers |
Yes, to stand out from the competition |
As a new company it is important to become popular in the market to attract customers |
Yes, to understand the opportunities and scope of the business |
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Time bound |
Measured after one financial year by checking the number of visits or recommendations by a single client |
Can be measured |
Over a period of one financial year |
One year |
The service is based on luxury indulgence of specialized beauty, as a SME the company will used marketing techniques that are effective based on technology and can easily reach out to the customers (Kotler et al. 2013).
The target market of the service includes people both male and female who are in the age group 25-50. The incomes of the people are on the higher end and they like to indulge in make and skin care. People who wear extensive eye makeup and wears make up on a daily basis. As the specialized lash service idea is comparatively new hence the people who are in the target market has to be someone who has knowledge regarding the concept and is eager to try out something other than using false lashes all the time.
The company has positioned the service as a luxurious indulgence which will enhance the look of the eyes making it the most striking feature of the face (Kotler et al. 2013).
Going back to the marketing mix that has been discussed above:
Product: to provide the customers with a wide and range of choice to improve the target market reach one of the options that the company can add to the service list is the colorful lash extensions (YouTube 2018). It is a growing trend and is also gaining popularity in Australia as well. Another addition to the product line is dealing in false lashes to bridge the gap of the time and money that is spent by the customer.
Price: The price can be reduced by adding features to the service like lash perm which is less expensive than lift and tint and providing discounts and offers.
Place: As discussed above the company has the opportunity to expand the business in Melbourne (Sok et al. 2013).
Promotion: providing the customers with discounts and offers are some of the important features of promotion mix, extensive use of social media, by improving the Facebook and Instagram pages will help. The company can contact with beauty influencers like Lauren Curtis and Chloe Morello to popularize the business. This will be like a PR activity where these people can be requested to review the service by trying it (Nobre and Silva 2014).
Product improvising is important strategy, the company can invest in the color lashes, before doing that a small market survey can be conducted in Instagram to understand the demand fro the product. Partnering with Red Cherry lashes to distribute the products in the salon (Bagnoli and Vedovato 2014).
The price can be reduced by introducing less expensive procedures like perm the lashes; it will require the employees to be trained in the same. There is not much investment in the tools as most of the tools used are similar to that of lift and tint (Sok et al. 2013)
Digital marketing will be used to reach out to the customers as this is the platform that is not only effective but is also cost-effective. Platforms like email and social media will be used in order to reach out to the target market. Personal information like email and mobile number will be in the Records of the booking. This will be helpful in providing the customers with customised services and offers. On the other hand, social media platforms like Facebook and Instagram will be used to further reach out to the customers (Öztamur and Karakad?lar 2014). The offers and discounts will be displayed in these pages and continuous feedback will be recorded in order to keep up with the needs and requirements of the customers. The company will not use paid services as that is again expensive (Love and Roper 2015).
In order to monitor the progress of the marketing strategy that has been state. In order to monitor the progress of the marketing strategy that has been stated above. The company will use the financial statements to identify the effectiveness of the strategy the ideas. The company will use the financial statements to identify the effectiveness of the strategy. The idea is to get the sales and the revenue figures at least 6% more than the previous year. The increase in repeat customers will help in identifying the progress of the idea. The idea of colored lashed and Perm will be indentified as a success based on the data recorded in the booking (Öztamur and Karakad?lar 2014).
Conclusion
Thus it can be concluded from the above discussion, that the company has a number of opportunities of improvement and better scope of service to the customers. With the help of the coloured lash and last poem services the company will be able to capture a larger market which will help in increasing the popularity of the business as well as creating the brand image. With the help of social media marketing and discounts and offers the company can create valuable relation with the customers and use their insightful feedback from the survey or their feedback on the social media. This will help the company in improving the services even further as well as keep touch with the customers.
Reference list:
Bagnoli, C. and Vedovato, M., 2014. The impact of knowledge management and strategy configuration coherence on SME performance. Journal of Management & Governance, 18(2), pp.615-647.
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Campbell, L., 2016. The Business Of Beauty: Aussies Love Skincare And Makeup. [online] HuffPost Australia. Available at: https://www.huffingtonpost.com.au/2016/09/11/the-business-of-beauty-aussies-love-skincare-and-makeup_a_21469915/ [Accessed 30 May 2018].
Hutchinson, K., Donnell, L.V., Gilmore, A. and Reid, A., 2015. Loyalty card adoption in SME retailers: the impact upon marketing management. European Journal of Marketing, 49(3/4), pp.467-490.
Kotler, P. and Armstrong, G., 2013. Principles of Marketing (16th Global Edition).
Lashandbrowboudoir.com., 2018. Professional Lash Extensions & Threading Bar. Lash Menu [online] Professional Lash Extensions & Threading Bar. Available at: https://www.lashandbrowboudoir.com/treatments [Accessed 30 May 2018].
Lashandbrowboudoir.com., 2018. Professional Lash Extensions & Threading Bar. Booking policy. [online] Professional Lash Extensions & Threading Bar. Available at: https://www.lashandbrowboudoir.com/booking-policy [Accessed 30 May 2018].
Love, J.H. and Roper, S., 2015. SME innovation, exporting and growth: A review of existing evidence. International small business journal, 33(1), pp.28-48.
Nobre, H. and Silva, D., 2014. Social network marketing strategy and SME strategy benefits. Journal of Transnational Management, 19(2), pp.138-151.
Öztamur, D. and Karakad?lar, ?.S., 2014. Exploring the role of social media for SMEs: as a new marketing strategy tool for the firm performance perspective. Procedia-Social and behavioral sciences, 150, pp.511-520.
Sok, P., O’Cass, A. and Sok, K.M., 2013. Achieving superior SME performance: Overarching role of marketing, innovation, and learning capabilities. Australasian Marketing Journal (AMJ), 21(3), pp.161-167.
YouTube (2017). Lash & Brow Boudoir Beauty Salon Melbourne for Eyebrow Threading and Makeup. [online] YouTube. Available at: https://www.youtube.com/watch?v=HQwudE_nEaY [Accessed 30 May 2018].
YouTube. 2018. Mermaid Lash Extensions: Insider. [online] YouTube. Available at: https://www.youtube.com/watch?v=v3DdOd_gL60 [Accessed 30 May 2018].
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