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O’Natural Hair Marketing PlanVanessa BroughtonKeller Graduate School of ManagementTABLE OF CONTENTS TOC \o "1-3" \h \z \u 1.0 Executive Summary PAGEREF _Toc299639790 \h 32.0 Situation Analysis PAGEREF _Toc299639791 \h 42.1 Market Summary PAGEREF _Toc299639792 \h 42.2 SWOT Analysis PAGEREF _Toc299639793 \h 42.3 Competition PAGEREF _Toc299639794 \h 62.4 Product Offering PAGEREF _Toc299639795 \h 62.5 Keys to Success PAGEREF _Toc299639796 \h 72.6 Critical Issues PAGEREF _Toc299639797 \h 83.0 Marketing Strategy PAGEREF _Toc299639798 \h 93.1 Mission PAGEREF _Toc299639799 \h 93.2 Marketing Objectives PAGEREF _Toc299639800 \h 93.3 Financial Objectives PAGEREF _Toc299639801 \h 93.4 Target Markets PAGEREF _Toc299639802 \h 93.5 Positioning PAGEREF _Toc299639803 \h 103.6 Strategies PAGEREF _Toc299639804 \h 103.7 Marketing Mix PAGEREF _Toc299639805 \h 103.8 Marketing Research PAGEREF _Toc299639806 \h 104.0 Controls PAGEREF _Toc299639807 \h 114.1 Implementation PAGEREF _Toc299639808 \h 114.2 Marketing Organization PAGEREF _Toc299639809 \h 114.3 Contingency Planning PAGEREF _Toc299639810 \h 115.0 Conclusion PAGEREF _Toc299639811 \h 12References PAGEREF _Toc299639812 \h 133.5 PositioningYou need a clear positioning statement. Think about creating a perceptual map, including your company and your competitors’. This should help you identify what makes you uniquely different. Currently, I THINK you are saying that your uniqueness stems from the consumer’s ability to customize the product. There are other similar products that are made by competitors, with similarly positioned as customized, high end hair treatment systems. However most of the competing products are made by smaller sized niche companies, and customers do not expect the companies to provide the very high level of service or quality that can be expected by a larger company. On the other hand, larger companies such as Clairol, Pantene, Miss Jessie’s etc have high end products such that are based on the latest natural hair care trend. O’Natural Hair Care customers with the ability to customize products for all natural styled hair. Found in the heart of the Amazon Rain Forest, Cupuacu (coo-poo-wah-soo) Butter has for generations been the secret of Brazilians for beautiful, moisturized hair. Combined with softening mango oil, our curl reviving spray refreshes hair with instant hydration and revives coils, curls, and waves for superb curl definition that lasts. Next day coil, curls, and wave’s look and feel refreshed and brilliantly defined without shrinkage or frizz. This MUST be cited! According to Turnitin, these are not YOUR words. Moreover, there is no reason to use someone else’s words. Paraphrase. Finally, this discussion of Cupuacu Butter might be better placed in the product area. 3.6 Strategies3.6 should have a succinct, clear statement about your introductory and growth strategy. The rest of this material should be worked into your marketing mix section.Product StrategyO’Natural Hair Care only uses the freshest ingredients to ensure product quality. Our home grown are grown fresh season to season and we make sure to rotate the crop so that we do not drain the land of all its nutrients and make it barren. Our formulas are available to the public so that they know that we use all natural ingredients and no harmful chemicals are added so that hair grows out natural and healthy. The product line of O’Natural Hair Care is relatively simple. We are offering the following hair care productsCurl Reviving SprayButter Whip Coil CreamFeather Whipped Curl CreamThermal Smoothing SerumHealing Thickening CreamStimulating Scalp OilNurturing Repair Shampoo; With Green Tea and Shea Butter (10 oz)Reconstructing Deep TreatmentStrengthening Oil MoisturizerO’Natural Hair Care only uses the freshest ingredients to ensure product quality. Our home grown are grown fresh season to season and we make sure to rotate the crop so that we do not drain the land of all its nutrients and make it barren. Our formulas are available to the public so that they know that we use all natural ingredients and no harmful chemicals are added so that hair grows out natural and healthy. Price StrategyPricing starts at $6.99 except for the Reconstructing Deep Treatment which costs $10.00. The pricing on this product is a little more because it comes in a larger container and the complexity of the formula for this product production takes a longer time to cure and make. You need a table that includes pricing by product. More importantly, you need to discuss your STRATEGY. Are you setting low introductory prices? Are you bundling products? Look at the textbook material regarding pricing STRATEGIES. That is what you need to make sure this section reflects.Promotion StrategyWill we be promoting with flyers and offering free samples to the beauty supply stores to give to customers who spend 10 or more dollars in the store that day. Also we will be giving salons samples to try on their clients to get a report of how well they like the product and let them see how well the product works on the hair styles. Black Hair and Ebony Magazines are writing a feature article on natural hair featuring our product line. They have even offered us 3 months of full page advertising spots. We have contacted local supermarket such as Wal-Mart, who is offering an excellent opportunity for promotion. O’Natural Hair Care will print coupons on the back of Wal-Mart customer receipts for a 2.00 off coupon. Walmart is well known for servicing locals as well as travelers we will reach a broad segment of people throughout all seasons of the year.O’Natural Hair Care is also printing flyers with 2.00 coupons to distribute throughout Houston and will soon market to other major cities as well. Coupons will be made available to our online customer base along with the chance to sign up to receive newsletters and sale offers. The promotional coupon strategy will only be offered during an introductory period and will be printed with an expiration date in order to introduce O’Natural Hair Care products to the public. Place StrategyProduct placing will begin in the urban areas in major cities. All major cities? Just Houston? Placing in these areas would be easier than non-urban areas because of the large number of beauty supply stores on just about every corner. Once sale volume increases we can afford to move supplies to other major stores such as Target and Sally’s Beauty Supply. One of the major beauty supply chains located in every city right now is Beauty Empire and we are already in talks with the chain in Houston to be able to place products on a shelf to sell once we get the samples out. These custom market strategies would be based on the unique characteristics of the target market, the trends and shifts in the market and by leveraging the latest in online technology and social media. I would create some kind of timeline that describes this. It’s pretty ambitious and also a bit confusing.3.7 Marketing MixProduct – Because there are so many different types of natural curly hair and the factors of that make this hair healthy are so diverse it is hard to create a product that caters to all these hair types but we have done that. This product is not too greasy nor will it dry to fast. Either way it helps define curls condition hair and moisturize the hair. Made with Mango Oil and Brazilian Cupuacu Butter sentence fragment from uncited source. Found in the heart of the Amazon Rain Forest, moisturizing Cupuacu (coo-poo-wah-soo) Butter has for generations been the secret of Brazilians for beautiful hair. Combined with softening Mango Oil, our Feather Whipped Curl Cream weightlessly hydrates to provide lasting curl definition and control. Limp curls and waves become feather-light with bounce and shine minus the frizz and the crunch.Promotion – Consider including a media schedule. Use google images to get some ideas.Will we be promoting with flyers and offering free samples to the beauty supply stores to give to customers who spend 10 or more dollars in the store that day. Also we will be giving salons samples to try on their clients to get a report of how well they like the product and let them see how well the product works on the hair styles. Black Hair and Ebony Magazines are writing a feature article on natural hair featuring our product line. They have even offered us 3 months of full page advertising spots. We have contacted local supermarket such as Wal-Mart, who is offering an excellent opportunity for promotion. O’Natural Hair Care will print coupons on the back of Wal-Mart customer receipts for a 2.00 off coupon. Walmart is well known for servicing locals as well as travelers we will reach a broad segment of people throughout all seasons of the year.O’Natural Hair Care is also printing flyers with $2.00 coupons to distribute throughout Houston and will soon market to other major cities as well. Coupons will be made available to our online customer base along with the chance to sign up to receive newsletters and sale offers. The promotional coupon strategy will only be offered during an introductory period and will be printed with an expiration date in order to introduce O’Natural Hair Care products to the public. Place – Product placing will begin in the urban areas in major cities. Placing in these areas would be easier than non-urban areas because of the large number of beauty supply stores on just about every corner. Once sale volume increases we can afford to move supplies to other major stores such as Target and Sally’s Beauty Supply. One of the major beauty supply chains located in every city right now is Beauty Empire and we are already in talks with the chain in Houston to be able to place products on a shelf to sell once we get the samples out.Price – This assignment does not require calculation of financials AND this exact same information can be found on a student paper that is purchaseable on the Internet. THAT is an ENORMOUS problem. If this appears in your final paper, I will be forced to give you a zero on a paper I think you have worked very hard on. However, the academic integrity issue is very clear here. What is really sad is that ther was absolutely no reason for you to do this. In order to calculate a break-even amount, we averaged the prices of the creams, oils, moisturizers, and sprays. This price is averaged at $6.99; the fixed costs for O’ Natural would be $70,000 per year, which include loan payments, equipment costs, and selling and administrative costs. What does this number include? The unit variable cost is $4.00. Why do you say this? What does this include? This includes production costs per product, except the deep treatment and other miscellaneous costs. Using the following formula, we calculated the break-even point for O’Natural Hair Care:BEP = [FC ÷ (P – UVC)]BEPQuantity = [$70,000 ÷ ($6.99 – $4.00)] = 23,411 bottlesBEPRevenue = 35,000 sales × $6.99 (bottle) = $244,650The figure that was calculated was the number of bottles that must be sold to break-even. In order to determine the dollar amount, we multiplied this figure by the cost of an average bottle, $6.99. For O’Natural Hair Care to break-even in its first year of business, it must have $244,650 in revenue.3.8 Marketing ResearchO’ Natural Hair Care’s marketing aim is to promote its products as healthy organic alternative to the normal petroleum filled, drying alcohol that most hair care products have and the product line makers provide. In order to accomplish this task, O’ Natural Hair Care will focus on current markets, look to expand into new markets by extending our services, and continually offer new products. The primary objective O’ Natural Hair Care is to market our products to customers and show them that the product is good for the hair and you will see instant results. Although we produce in small rural area, we are not far from the city of Houston and this will be our first market and with this being such a large city the initial opportunities are endless. O’ Natural Hair Care also desires to extend its services in order to tap into new markets. This will include sponsoring hair care seminars at colleges, natural hair show competitions, and also maybe start a scholarship fund for beauty school students. This too attracts a lot of positive attention and in a way is also a form of marketing and advertisement. 4.0 Controls4.1 Implementation4.2 Marketing Organization4.3 Contingency Planning5.0 Conclusion
Marketing plan revision

Marketing plan revision

Question # 00002472 Posted By: vbroughton73 Updated on: 10/19/2013 07:05 AM Due on: 10/20/2013
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