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Stratosphere Salon
COMM 468, Section 101
Colette Cheung 70875091
Jessica Greschner 27722107
Jasna Kamenjas 24980096
Daniel Kong 41960097
Hannah Martin 27435106
Agenda
Situational Analysis
Goals & Objectives
Core Strategy
Conclusion

Situation Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Stratosphere
GOING	
  FORWARD	
  
A+ract	
  new	
  customers	
  
Improve	
  frequency	
  of	
  visits	
  from	
  
exis>ng	
  customers	
  
Increase	
  rental	
  chair	
  occupancy	
  

Increase	
  product	
  sales	
  	
  

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Industry Analysis
Hair Industry in Canada

Hair Industry in Canada (2012)

•  Hair Industry in Canada is valued at
$1.6B with an average growth of 2%

Styling
Agents
14%

•  Salon sales make up 22.9% of the
hair care industry

2-in-1
Products
5%
Colourants
21%

•  Industry is mature, saturated and
highly competitive

Shampoos
24%
Conditioners
13%

•  Little seasonality in sales, but mild
increase in December

Salon
Industry
23%

Hair Loss
Perms/ 0%
Relaxants
0%

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Industry Analysis

C a t e g o r y / I n d u s t r y F a c t o r s - P o r t e r ’s 5 F o r c e s
SUPPLIER POWER: MEDIUM

COMPETITIVE RIVALRY: HIGH

• 

• 
• 

• 
• 
• 

Limited number of suppliers distribute to
Stratosphere
High availability of substitute suppliers, but
they do differ in quality and substance
Supplier is important to the salon
Salon contributes to a small proportion of
supplier sales

THREAT OF NEW ENTRANT: HIGH
• 
• 
• 
• 
• 
• 

The market is already saturated
There are no barriers to entry
There are new buildings with retail space to
which competitors could locate
Experienced stylists are huge asset- a salon
with good stylists can be a fierce competitor
There are no economies of scale with
independent salons
Consumer base is growing

Situational Analysis

|

Goals & Objectives

• 
• 

Large number of salons
Little evidence of differentiation among
competitors
High switching costs for stylists
Product can be viewed as a commodity

BUYER POWER: HIGH
• 
• 
• 
• 
• 

Many consumers with no salon loyalty
Differentiation from services, not basic hair cut
No switching costs for consumers
Consume purchase frequency is personal
Final product is important to consumer

THREAT OF SUBSTITUTES: HIGH
• 

At home hair care is growing due to
affordability and access to products on the
market
|

Core Strategy

|

Conclusion
Industry Analysis
Environmental Factors

THE	
  MACRO	
  ENVIRONEMENT	
  

Demographic	
  Forces	
  
Economic	
  Forces	
  
Technological	
  Forces	
  
Poli>cal	
  Forces	
  
Cultural	
  Forces	
  

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Industry Analysis

Ke y S u c c e s s F a c t o r s ( I n t h e I n d u s t r y )

Quality of
service

Access to
niche
markets

Business
expertise of
operators

Prime
location

Ratio of
new vs lost
customers

Situational Analysis

Excellent
employees

Market
leader

SUCCESS

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Company Analysis

Ke y S u c c e s s F a c t o r s ( F o r S t r a t o s p h e r e ; P r e - S u r v e y )
Open long hours
High-caliber service
Stylists to fit any hair need
Specialty services
Excellent customer relationships

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Company Analysis

People, Price, Place, Product, Place
•  Salon & esthetic
services
•  Salon products

PRODUCT

•  Website & Social
Media

•  Granville Street

•  Coupons

•  Colors: black &
white

•  Fashion shows

PROMOTION

•  Prices comparable
to high-end salons
•  Junior Stylists
charge 30-50% less

PRICE

Situational Analysis

•  Foot traffic

|

PLACE

•  12 Chair Renters, 1
Commission Stylists,
2 Apprentices
•  Receptionist

PEOPLE

Goals & Objectives

|

Core Strategy

|

Conclusion
Company Analysis
Sales Analysis

TOTAL SALES

SERVICE

RETAIL

Regular Requests

85.00%

74.00%

11.00%

New Requests

8.20%

6.70%

1.50%

Walk-Ins

1.50%

1.10%

0.50%

Staff

1.70%

0.10%

1.60%

Retail Only

3.90%

0.00%

3.90%

TOTAL SALES

100%

81.90%

18.10%

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Primary Data Collection
Ke y F i n d i n g s F r o m C u s t o m e r S u r v e y s & S t y l i s t I n t e r v i e w s

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Company Analysis

Data Collection – Stylist Interviews

CHAIR	
  RENTERS
POPULATION	
  SIZE

7

METHOD	
  OF	
  DATA	
  
COLLECTION

One-­‐on-­‐one	
  interviews

#	
  OF	
  FEMALE

2 (29%)

#	
  OF	
  MALE

5 (71%)

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Company Analysis

S t y l i s t I n t e r v i e w s – Ke y Ta k e a w a y s

TOP 3 QUALITIES OF STRATOSPHERE
People. Good Dynamic. Location
Situational Analysis

|

Goals & Objectives

VIBE OF STRATOSPHERE
Family. Creative. Chill. Energetic. Cool.
|

Core Strategy

|

Conclusion
Company Analysis
REASONS FOR WORKING AT STRATOSPHERE

F o c u s G r o u p Ta k e a w a y s

Situational Analysis

Not Willing

Very Willing

WILLINGNESS TO ENGAGE IN
SOCIAL MEDIA

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Customer Analysis

Data Collection – Existing & Potential Customer Surveys
EXISTING	
  CUSTOMERS

POTENTIAL	
  CUSTOMERS

POPULATION	
  SIZE

50

50

METHOD	
  OF	
  DATA	
  
COLLECTION

Emailed	
  online	
  survey

In	
  person	
  paper	
  survey

%	
  FEMALE

73%

83%

%	
  MALE

27%

17%

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Customer Analysis
Identified Segments

Young
Trendsetters

Situational Analysis

Davie Street
Guys

|

Goals & Objectives

Business
Professionals

|

Core Strategy

Mama Bears

West Side Moms

|

Conclusion
Customer Analysis: Existing Clients
STRATOSPHERE BRAND
ASSOCIATIONS
Friendly

23%

Good Quality Service

18%

Trendy

15%

Fun

11%

Energetic

Situational Analysis

|

Goals & Objectives

|

Core Strategy

7%

|

Conclusion
Most Important Salon Features
EXISTING	
  CLIENTS	
  

POTENTIAL	
  CLIENTS	
  

1.  Quality of service

1.  Quality of service

2.  Personal relationship with

2.  Experience of hairstylist
3.  Good value for money

hairstylist
3.  Experience of hairstylist

4.  Cleanliness

4.  Cleanliness

5.  Salon Atmosphere

5.  Salon Atmosphere

6.  Personal relationship with
hairstylist

6.  Convenience of location
7. 

Situational Analysis

|

Goals & Objectives

|

Convenience of location

Core Strategy

|

Conclusion
Insight for Attracting New Clients
Satisfaction Level vs. Importance Factors in a Hair Salon
100%	
  

Exis>ng	
  Customers	
  

90%	
  

Poten>al	
  Customers	
  

80%	
  
70%	
  

KEY TAKEAWAY:
Stratosphere is

60%	
  
50%	
  

doing very well in

40%	
  

areas potential

30%	
  

customers deem

20%	
  

important!

10%	
  
0%	
  

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Customer Analysis
Communicating with Customers
PREFFERED COMMUNICATION CHANNELS

Twitter (47%)
Instagram (53%)
Pinterest (20%)

TOPICS OF INTEREST

Facebook (87%)

Beauty/ Skin (60%)

Makeup Tips (53%)

Email (53%)

Hair Tips (93%)

Fashion (53%)

* Responses reflect those of existing customers

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Customer Analysis
Re v e n u e S o u r c e s

Share	
  of	
  Pocket	
  –	
  ExisDng	
  Customers	
  
100%	
  
80%	
  
78%	
  
60%	
  
40%	
  
31%	
  

20%	
  
0%	
  
Services	
  

Products	
  

KEY TAKEAWAY: Stratosphere accounts for most
of their customers salon services, but less of their
product purchases
Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Customer Analysis
Core Customers
40%

73%

33%

30%

27%

10%

23%

19%

20%

19-24
4%

8%

25-34
29%
8%

2%

>50
24%

4%

2%

0%

35-49
43%

GENDER OF CUSTOMERS

AVERAGE INCOME OF CUSTOMERS

AGE OF CUSTOMERS

SIZE	
  

REFERALS	
  

IMPORTANCE	
  

PRODUCT	
  

FREQUENCY	
  

App. 13,800
requests / year,
# of customers
unknown

41% of
customers
were referred
by a friend

90% of
customers
consider good
hair important

68% of
customers buy
product from
Stratosphere

46% of
customers visit
the salon every
5-8 weeks

	
  

Situational Analysis

	
  

|

	
  

Goals & Objectives

|

	
  

Core Strategy

	
  

|

Conclusion
Competitive Analysis
Address Vancouver, BC

D a t a C o l l e c t i o n – O b s e r v a t i o n & S e c o n d a r y Re s e a r c h
POPULATION	
  SIZE
METHOD

|

Goals & Objectives

Observa>on

LOCATION

Situational Analysis

12

Downtown Vancouver

|

Core Strategy

(7 identified as key competitors)

|

Conclusion
Competitive Analysis
Ke y C o m p e t i t o r s & S t r a t e g i e s
Zennkai
Straight and Curl
Hair Salon

Holts Salon & Spa

KEY COMPETITORS
Pink Lime Salon &
Spa

Lounge Hair Studio

Pony Hair Salon

Situational Analysis

|

Goals & Objectives

Moods Hair Salon

|

Core Strategy

|

Conclusion
Competitive Analysis
Competitive Benchmark / Matrix
2	
  

Situational Analysis

4	
  

|

3	
  

Goals & Objectives

5	
  

|

5	
  

Core Strategy

5	
  

1	
  

|

2	
  

Conclusion
SWOT
STRENGTHS

WEAKNESSES

OPPORTUNITIES

T H R E AT S

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Goal & Objectives
Improving the Stratosphere Marketing Mix

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Goals & Objectives
Of the Marketing Plan
EXISTING	
  
CLIENTS	
  

NEW	
  
CLIENTS	
  

RETAIN	
  

CHAIR	
  
RENTAL	
  

PRODUCT	
  
SALES	
  

Situational Analysis

•  Increase monthly service revenue from existing customer base by 15%
in comparison to monthly sales of the last fiscal year.
•  Increase number of first-time customers by 15% compared to number
of new customers of the same month in the last fiscal year.
•  Ensure retention rate of first-time customers matches industry
standard of 33% by the same month in the next fiscal year
•  Increase chair rental occupancy by 2-3 compared to chair rental rates 6
months prior.
•  Increase monthly product sales by 10% compared to in the same
month in the last fiscal year.

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Core Strategy
O b j e c t i v e s à S t r a t e g i e s à Ta c t i c s

Situation Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Core Strategy
Positioning

POSITIONING STATEMENT
For the style-conscious customer who places great emphasis on
their hair, and needs a great stylist to cut, color and style for any
occasion. Unlike Holt, Pony or Mood’s, Stratosphere gives you the
high-end hair services in a comfortable environment without the
attitude.

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Core Strategy

Ta r g e t i n g & S e g m e n t a t i o n
Urban	
  Powerhouse	
  
• Live	
  and	
  work	
  in	
  the	
  area	
  
• Looking	
  for	
  quality,	
  dependable	
  service	
  

Mama	
  Bear	
  
• Demand	
  looking	
  their	
  best	
  
• High	
  household	
  incomes	
  

Davie	
  Street	
  Guys	
  
• Invest	
  in	
  Their	
  Appearance	
  
• Live	
  in	
  close	
  proximity	
  to	
  Stratosphere	
  

Young	
  Trendse+ers	
  
• Low	
  income,	
  but	
  HIGH	
  willingness	
  to	
  pay	
  
• Early	
  adopters	
  of	
  the	
  latest	
  trends	
  
Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Core Strategy
Objective 1

INCREASE MONTHLY SERVICE REVENUE FROM EXISTING CUSTOMER BASE
BY 15% IN COMPARISON TO MONTHLY SALES OF THE LAST FISCAL YEAR

TACTICS

STRATEGY 1

VIP / Loyalty card
Email newsletter

Situational Analysis

|

Goals & Objectives

|

$150	
  	
  
per	
  Year	
  

Offer quick services

Encourage greater
frequency in which
customers go to
Stratosphere

$400	
  
For	
  100	
  

No	
  Add.	
  
Cost	
  

Core Strategy

|

Conclusion
Core Strategy
Objective 2

INCREASE # OF FIRST-TIME CUSTOMERS BY 15% COMPARED TO # OF NEW
CUSTOMERS OF THE SAME MONTH IN THE LAST FISCAL YEAR
TACTICS
STRATEGY 1

Curb appeal- Sign & Window
Display
Expand digital presence

Increase brand awareness
of Stratosphere to the
general public

(Instagram breakout campaign, Yelp reviews,

$0	
  

Make a presence in the media
with hair specialist column

$TBD	
  

reach out to bloggers)

Stimulate referrals by providing
incentives (discounts)
Situational Analysis

|

Goals & Objectives

$375	
  

|

Core Strategy

|

$10	
  	
  
Per	
  referral	
  

Conclusion
Core Strategy
Objective 2

INCREASE # OF FIRST-TIME CUSTOMERS BY 15% COMPARED TO # OF NEW
CUSTOMERS OF THE SAME MONTH IN THE LAST FISCAL YEAR

TACTICS

STRATEGY 2

Place postcard ads and 1st-time
visit coupons at nearby businesses
Place 1st-time visit coupons in the
mailboxes of new apartments

Create stronger
community ties with
nearby businesses and
client

Situational Analysis

|

Goals & Objectives

$100	
  
For	
  100	
  

$100	
  	
  
For	
  100	
  

|

Core Strategy

|

Conclusion
Core Strategy
Objective 3

ENSURE THE RETENTION OF FIRST-TIME CUSTOMERS MATCHES THE
INDUSTRY STANDARD OF 33% IN COMPARISON TO THE SAME MONTH IN
THE NEXT FISCAL YEAR
TACTICS

STRATEGY 1

Welcome kit

Wow first-time customers
with an unexpected,
unforgettable experience

(sample products, contact card, etc.)

Send thank-you email after appt.
& reminder for next appointment

(in addition to standard servicecoat, beverage, etc)

Situational Analysis

|

Goals & Objectives

Ask to schedule next appt. when
customer leaves

|

Core Strategy

|

$7	
  
Per	
  Kit	
  

$12.50	
  	
  
Per	
  Month	
  

No	
  Add.	
  
Cost	
  

Conclusion
Core Strategy
Objective 4

INCREASE THE NUMBER OF CHAIR RENTERS BY 2 OR 3 COMPARED TO
CHAIR RENTAL OCCUPANCY 6 MONTHS PRIOR

STRATEGY 1

TACTICS

Increase brand awareness
of Stratosphere in the
professional hair industry

Situational Analysis

|

Goals & Objectives

Ads in professional hair magazines

$500	
  (~)	
  
Per	
  Ad.	
  

Increase presence in media

$TBD	
  

(hair specialist column-such as VanCity Buzz)

|

Core Strategy

|

Conclusion
Core Strategy
Objective 4

INCREASE THE NUMBER OF CHAIR RENTERS BY 2 OR 3 COMPARED TO
CHAIR RENTAL OCCUPANCY 6 MONTHS PRIOR

STRATEGY 2
TACTICS
Justify the above average
price of Stratosphere chair
renting

Situational Analysis

|

Goals & Objectives

Ensure junior stylists/receptionists
clean & assist senior stylists

No	
  Add.	
  
Cost	
  

Provide educational workshops
targeted towards senior stylists

No	
  Add.	
  
Cost	
  

|

Core Strategy

|

Conclusion
Core Strategy
Objective 5

INCREASE MONTHLY PRODUCT SALES BY 10% COMAPRED TO THE SAME
MONTH IN THE PREVIOUS FISCAL YEAR

TACTICS

STRATEGY 1

Attach samples to full-sized
popular products
In store promotion (small tent
signs) at styling chairs (provided by

Drive awareness and
penetration of hair
products

|

$150	
  

distributor)

Adam’s	
  
Pick	
  

Situation Analysis

TBD	
  

Goals & Objectives

|

Each month a stylist pick their
favorite product and it is marked

Core Strategy

|

$15	
  

Conclusion
Core Strategy
Objective 5

INCREASE MONTHLY PRODUCT SALES BY 10% COMAPARED TO THE SAME
MONTH IN THE PREVIOUS FISCAL YEAR

TACTICS

STRATEGY 1

Ask stylists to tell customers the
products they are using (samples)
Ensure Stratosphere is listed on
distributors websites

Situational Analysis

|

Goals & Objectives

|

No	
  Add.	
  
Cost	
  

Promote product brands on tent
sign and in window display

Drive awareness and
penetration of hair
products

No	
  Add.	
  
Cost	
  

Cost	
  Covered	
  
in	
  OB.	
  1	
  

Core Strategy

|

Conclusion
Core Strategy
Objective 5

INCREASE MONTHLY PRODUCT SALES BY 10% COMAPARED TO THE SAME
MONTH IN THE PREVIOUS FISCAL YEAR

TACTICS

STRATEGY 2

Place small, low priced products
next to cashier (travel sized items)

$50	
  

Increase sales through
impulse buys

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Core Strategy
Objective 5

INCREASE MONTHLY PRODUCT SALES BY 10% COMAPARED TO THE SAME
MONTH IN THE PREVIOUS FISCAL YEAR

TACTICS

STRATEGY 3

Have retail displays with signs on
how to best use the product

$100	
  

Outline benefits of salon over
drug store products on small signs

$100	
  

How	
  
To..	
  

Educate customers on how to
use products

Have customers participate in
styling of hair

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

No	
  Add.	
  
Cost	
  

Conclusion
Implementation
Three Phase Process

Jan.	
  
Sidewalk	
  Sign	
  and	
  Window	
  Display	
  
Social	
  Media	
  

PHASE	
  1	
  

Post	
  Card	
  Ads	
  and	
  1st	
  Visit	
  Coupons	
  

Schedule	
  Next	
  Visit	
  

Aug.	
  

Sept.	
  

Oct.	
  

Nov.	
  

Dec.	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  
	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

Offer	
  Quick	
  Services	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

é	
  Rev.	
  from	
  Exis>ng	
   Email	
  NewsleNer	
  
Customers	
  

	
  	
  

	
  	
  

VIP	
  /	
  Loyalty	
  Card	
  

	
  	
  

*	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

Tell	
  Customers	
  About	
  Products	
  they	
  are	
  Using	
  
Ensure	
  Listed	
  on	
  Distributor	
  Websites	
  
Product	
  brands	
  on	
  Window/Sidewalk	
  Display	
  
Place	
  Small	
  Low-­‐Cost	
  Items	
  Next	
  to	
  Till	
  
Retail	
  Displays	
  with	
  “How	
  To”	
  Descrip:ons	
  
Small	
  Signs	
  -­‐	
  Salon	
  vs	
  Drug	
  Store	
  Products	
  
Have	
  Customers	
  Par:cipate	
  in	
  Styling	
  of	
  Hair	
  

|

	
  	
  

	
  	
  

	
  Jr.	
  Stylists/	
  Recep:onists	
  Assist	
  Sr.	
  Stylists	
  

*	
  SoXware	
  Implemented	
  in	
  Thank-­‐you	
  email	
  

	
  	
  

	
  	
  

Increase	
  Presence	
  in	
  Media	
  

Educa:onal	
  Workshops	
  for	
  Sr.	
  Stylists	
  

PHASE	
  2	
  

July	
  

	
  	
  

	
  	
  

Ads	
  in	
  Magazines	
  

PHASE	
  3	
  

June	
  

	
  	
  

Thank-­‐you	
  email	
  

Situational Analysis

May	
  

	
  	
  

Welcome	
  Kits	
  

Increase	
  Product	
  
Sales	
  	
  

April	
  

	
  	
  

1st	
  Time	
  Visitor	
  Coupons	
  

Increase	
  #	
  Chair	
  
Renters	
  

Mar.	
  

	
  	
  
	
  	
  

Increase	
  #	
  of	
  First	
   Hair	
  Specialist	
  Column	
  
Time	
  Customers	
   Discounts	
  to	
  S:mulate	
  Referrals	
  

Retaining	
  New	
  
Customers	
  

Feb.	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

**	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  
	
  	
  
	
  	
  
**	
  Implemented	
  in	
  Phase	
  1	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

Goals & Objectives

	
  	
  

	
  	
  

|

	
  	
  

	
  	
  

	
  	
  

Core Strategy

	
  	
  

|

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

	
  	
  

Conclusion
Conclusion
Increase
service
revenue of
existing
customers

Increase
number of first
time
customers

Ensure
retention rates
of new
customers

Increase chair
renting
occupancy

Increase
product sales

S T R A T E G I E S 	
  
T	
  

A	
  

Situational Analysis

C	
  

|

T	
  

Goals & Objectives

I	
  

|

Core Strategy

S	
  

C	
  

|

Conclusion
Hairdressers are a wonderful breed. You
work one-on-one with another human
being and the object is to make them feel
so much better and to look at themselves
with a twinkle in their eye.
- Vidal Sassoon
Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Appendix Slides
S u p p l e m e n t o f P r i m a r y Re s e a r c h

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Appendix 1

C u s t o m e r A n a l y s i s - P s y c h o g r a p h i c Tr a i t
Importance of Having Great Hair Everyday
70%	
  

60%	
  

50%	
  

40%	
  
Current Customers
30%	
  

Potential Customers

20%	
  

10%	
  

0%	
  
Very Unimportant

Situational Analysis

Somewhat
Unimportant

|

Neutral

Goals & Objectives

Somewhat
Important

|

Very Important

Core Strategy

|

Conclusion
Appendix 2

Competitive Benchmark / Matrix
2	
  

Situational Analysis

4	
  

|

3	
  

Goals & Objectives

5	
  

|

5	
  

Core Strategy

5	
  

1	
  

|

2	
  

Conclusion
Appendix 3
Objective 1

Increase monthly service revenue from existing customer base by 15% in
comparison to monthly sales of the last fiscal year.
Monthly Service
Revenue

Existing Client Base
%

$52,000

X

Current
$38,480

Situational Analysis

74%

Monthly Service Revenue
from Existing Client Base
=

Target
X

Goal Revenue

115%

|

Goals & Objectives

$38,480

=

|

Core Strategy

$44,252

|

Conclusion
Appendix 4
Objective 2

Increase number of first-time customers by 15% in comparison to number
of new customers of the last fiscal year.
Current New
Customers / Year

Goal for New Customers / year

% Increase

1,111

1,300

1,300 / 1,111 = 1.1701

Goal = ~15%

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Appendix 5
Objective 2

Increase number of first-time customers by 15% in comparison to number
of new customers of the last fiscal year.
Current New
Customers / Year

Goal for New Customers / year

% Increase

1,111

1,300

1,300 / 1,111 = 1.1701

Goal = ~15%

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion
Appendix 6
Objective 4

Increase monthly product sales by 10% compared to the same month the
last fiscal year
Avg Monthly
Product Sales

X 110%

Monthly Increase of

$9,175

$10,092.5

~ $900

Situational Analysis

|

Goals & Objectives

|

Core Strategy

|

Conclusion

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Stratosphere Salon Marketing Plan - Jessica Greschner

  • 1. Stratosphere Salon COMM 468, Section 101 Colette Cheung 70875091 Jessica Greschner 27722107 Jasna Kamenjas 24980096 Daniel Kong 41960097 Hannah Martin 27435106
  • 2. Agenda Situational Analysis Goals & Objectives Core Strategy Conclusion Situation Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 3. Stratosphere GOING  FORWARD   A+ract  new  customers   Improve  frequency  of  visits  from   exis>ng  customers   Increase  rental  chair  occupancy   Increase  product  sales     Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 4. Industry Analysis Hair Industry in Canada Hair Industry in Canada (2012) •  Hair Industry in Canada is valued at $1.6B with an average growth of 2% Styling Agents 14% •  Salon sales make up 22.9% of the hair care industry 2-in-1 Products 5% Colourants 21% •  Industry is mature, saturated and highly competitive Shampoos 24% Conditioners 13% •  Little seasonality in sales, but mild increase in December Salon Industry 23% Hair Loss Perms/ 0% Relaxants 0% Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 5. Industry Analysis C a t e g o r y / I n d u s t r y F a c t o r s - P o r t e r ’s 5 F o r c e s SUPPLIER POWER: MEDIUM COMPETITIVE RIVALRY: HIGH •  •  •  •  •  •  Limited number of suppliers distribute to Stratosphere High availability of substitute suppliers, but they do differ in quality and substance Supplier is important to the salon Salon contributes to a small proportion of supplier sales THREAT OF NEW ENTRANT: HIGH •  •  •  •  •  •  The market is already saturated There are no barriers to entry There are new buildings with retail space to which competitors could locate Experienced stylists are huge asset- a salon with good stylists can be a fierce competitor There are no economies of scale with independent salons Consumer base is growing Situational Analysis | Goals & Objectives •  •  Large number of salons Little evidence of differentiation among competitors High switching costs for stylists Product can be viewed as a commodity BUYER POWER: HIGH •  •  •  •  •  Many consumers with no salon loyalty Differentiation from services, not basic hair cut No switching costs for consumers Consume purchase frequency is personal Final product is important to consumer THREAT OF SUBSTITUTES: HIGH •  At home hair care is growing due to affordability and access to products on the market | Core Strategy | Conclusion
  • 6. Industry Analysis Environmental Factors THE  MACRO  ENVIRONEMENT   Demographic  Forces   Economic  Forces   Technological  Forces   Poli>cal  Forces   Cultural  Forces   Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 7. Industry Analysis Ke y S u c c e s s F a c t o r s ( I n t h e I n d u s t r y ) Quality of service Access to niche markets Business expertise of operators Prime location Ratio of new vs lost customers Situational Analysis Excellent employees Market leader SUCCESS | Goals & Objectives | Core Strategy | Conclusion
  • 8. Company Analysis Ke y S u c c e s s F a c t o r s ( F o r S t r a t o s p h e r e ; P r e - S u r v e y ) Open long hours High-caliber service Stylists to fit any hair need Specialty services Excellent customer relationships Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 9. Company Analysis People, Price, Place, Product, Place •  Salon & esthetic services •  Salon products PRODUCT •  Website & Social Media •  Granville Street •  Coupons •  Colors: black & white •  Fashion shows PROMOTION •  Prices comparable to high-end salons •  Junior Stylists charge 30-50% less PRICE Situational Analysis •  Foot traffic | PLACE •  12 Chair Renters, 1 Commission Stylists, 2 Apprentices •  Receptionist PEOPLE Goals & Objectives | Core Strategy | Conclusion
  • 10. Company Analysis Sales Analysis TOTAL SALES SERVICE RETAIL Regular Requests 85.00% 74.00% 11.00% New Requests 8.20% 6.70% 1.50% Walk-Ins 1.50% 1.10% 0.50% Staff 1.70% 0.10% 1.60% Retail Only 3.90% 0.00% 3.90% TOTAL SALES 100% 81.90% 18.10% Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 11. Primary Data Collection Ke y F i n d i n g s F r o m C u s t o m e r S u r v e y s & S t y l i s t I n t e r v i e w s Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 12. Company Analysis Data Collection – Stylist Interviews CHAIR  RENTERS POPULATION  SIZE 7 METHOD  OF  DATA   COLLECTION One-­‐on-­‐one  interviews #  OF  FEMALE 2 (29%) #  OF  MALE 5 (71%) Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 13. Company Analysis S t y l i s t I n t e r v i e w s – Ke y Ta k e a w a y s TOP 3 QUALITIES OF STRATOSPHERE People. Good Dynamic. Location Situational Analysis | Goals & Objectives VIBE OF STRATOSPHERE Family. Creative. Chill. Energetic. Cool. | Core Strategy | Conclusion
  • 14. Company Analysis REASONS FOR WORKING AT STRATOSPHERE F o c u s G r o u p Ta k e a w a y s Situational Analysis Not Willing Very Willing WILLINGNESS TO ENGAGE IN SOCIAL MEDIA | Goals & Objectives | Core Strategy | Conclusion
  • 15. Customer Analysis Data Collection – Existing & Potential Customer Surveys EXISTING  CUSTOMERS POTENTIAL  CUSTOMERS POPULATION  SIZE 50 50 METHOD  OF  DATA   COLLECTION Emailed  online  survey In  person  paper  survey %  FEMALE 73% 83% %  MALE 27% 17% Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 16. Customer Analysis Identified Segments Young Trendsetters Situational Analysis Davie Street Guys | Goals & Objectives Business Professionals | Core Strategy Mama Bears West Side Moms | Conclusion
  • 17. Customer Analysis: Existing Clients STRATOSPHERE BRAND ASSOCIATIONS Friendly 23% Good Quality Service 18% Trendy 15% Fun 11% Energetic Situational Analysis | Goals & Objectives | Core Strategy 7% | Conclusion
  • 18. Most Important Salon Features EXISTING  CLIENTS   POTENTIAL  CLIENTS   1.  Quality of service 1.  Quality of service 2.  Personal relationship with 2.  Experience of hairstylist 3.  Good value for money hairstylist 3.  Experience of hairstylist 4.  Cleanliness 4.  Cleanliness 5.  Salon Atmosphere 5.  Salon Atmosphere 6.  Personal relationship with hairstylist 6.  Convenience of location 7.  Situational Analysis | Goals & Objectives | Convenience of location Core Strategy | Conclusion
  • 19. Insight for Attracting New Clients Satisfaction Level vs. Importance Factors in a Hair Salon 100%   Exis>ng  Customers   90%   Poten>al  Customers   80%   70%   KEY TAKEAWAY: Stratosphere is 60%   50%   doing very well in 40%   areas potential 30%   customers deem 20%   important! 10%   0%   Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 20. Customer Analysis Communicating with Customers PREFFERED COMMUNICATION CHANNELS Twitter (47%) Instagram (53%) Pinterest (20%) TOPICS OF INTEREST Facebook (87%) Beauty/ Skin (60%) Makeup Tips (53%) Email (53%) Hair Tips (93%) Fashion (53%) * Responses reflect those of existing customers Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 21. Customer Analysis Re v e n u e S o u r c e s Share  of  Pocket  –  ExisDng  Customers   100%   80%   78%   60%   40%   31%   20%   0%   Services   Products   KEY TAKEAWAY: Stratosphere accounts for most of their customers salon services, but less of their product purchases Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 22. Customer Analysis Core Customers 40% 73% 33% 30% 27% 10% 23% 19% 20% 19-24 4% 8% 25-34 29% 8% 2% >50 24% 4% 2% 0% 35-49 43% GENDER OF CUSTOMERS AVERAGE INCOME OF CUSTOMERS AGE OF CUSTOMERS SIZE   REFERALS   IMPORTANCE   PRODUCT   FREQUENCY   App. 13,800 requests / year, # of customers unknown 41% of customers were referred by a friend 90% of customers consider good hair important 68% of customers buy product from Stratosphere 46% of customers visit the salon every 5-8 weeks   Situational Analysis   |   Goals & Objectives |   Core Strategy   | Conclusion
  • 23. Competitive Analysis Address Vancouver, BC D a t a C o l l e c t i o n – O b s e r v a t i o n & S e c o n d a r y Re s e a r c h POPULATION  SIZE METHOD | Goals & Objectives Observa>on LOCATION Situational Analysis 12 Downtown Vancouver | Core Strategy (7 identified as key competitors) | Conclusion
  • 24. Competitive Analysis Ke y C o m p e t i t o r s & S t r a t e g i e s Zennkai Straight and Curl Hair Salon Holts Salon & Spa KEY COMPETITORS Pink Lime Salon & Spa Lounge Hair Studio Pony Hair Salon Situational Analysis | Goals & Objectives Moods Hair Salon | Core Strategy | Conclusion
  • 25. Competitive Analysis Competitive Benchmark / Matrix 2   Situational Analysis 4   | 3   Goals & Objectives 5   | 5   Core Strategy 5   1   | 2   Conclusion
  • 26. SWOT STRENGTHS WEAKNESSES OPPORTUNITIES T H R E AT S Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 27. Goal & Objectives Improving the Stratosphere Marketing Mix Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 28. Goals & Objectives Of the Marketing Plan EXISTING   CLIENTS   NEW   CLIENTS   RETAIN   CHAIR   RENTAL   PRODUCT   SALES   Situational Analysis •  Increase monthly service revenue from existing customer base by 15% in comparison to monthly sales of the last fiscal year. •  Increase number of first-time customers by 15% compared to number of new customers of the same month in the last fiscal year. •  Ensure retention rate of first-time customers matches industry standard of 33% by the same month in the next fiscal year •  Increase chair rental occupancy by 2-3 compared to chair rental rates 6 months prior. •  Increase monthly product sales by 10% compared to in the same month in the last fiscal year. | Goals & Objectives | Core Strategy | Conclusion
  • 29. Core Strategy O b j e c t i v e s à S t r a t e g i e s à Ta c t i c s Situation Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 30. Core Strategy Positioning POSITIONING STATEMENT For the style-conscious customer who places great emphasis on their hair, and needs a great stylist to cut, color and style for any occasion. Unlike Holt, Pony or Mood’s, Stratosphere gives you the high-end hair services in a comfortable environment without the attitude. Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 31. Core Strategy Ta r g e t i n g & S e g m e n t a t i o n Urban  Powerhouse   • Live  and  work  in  the  area   • Looking  for  quality,  dependable  service   Mama  Bear   • Demand  looking  their  best   • High  household  incomes   Davie  Street  Guys   • Invest  in  Their  Appearance   • Live  in  close  proximity  to  Stratosphere   Young  Trendse+ers   • Low  income,  but  HIGH  willingness  to  pay   • Early  adopters  of  the  latest  trends   Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 32. Core Strategy Objective 1 INCREASE MONTHLY SERVICE REVENUE FROM EXISTING CUSTOMER BASE BY 15% IN COMPARISON TO MONTHLY SALES OF THE LAST FISCAL YEAR TACTICS STRATEGY 1 VIP / Loyalty card Email newsletter Situational Analysis | Goals & Objectives | $150     per  Year   Offer quick services Encourage greater frequency in which customers go to Stratosphere $400   For  100   No  Add.   Cost   Core Strategy | Conclusion
  • 33. Core Strategy Objective 2 INCREASE # OF FIRST-TIME CUSTOMERS BY 15% COMPARED TO # OF NEW CUSTOMERS OF THE SAME MONTH IN THE LAST FISCAL YEAR TACTICS STRATEGY 1 Curb appeal- Sign & Window Display Expand digital presence Increase brand awareness of Stratosphere to the general public (Instagram breakout campaign, Yelp reviews, $0   Make a presence in the media with hair specialist column $TBD   reach out to bloggers) Stimulate referrals by providing incentives (discounts) Situational Analysis | Goals & Objectives $375   | Core Strategy | $10     Per  referral   Conclusion
  • 34. Core Strategy Objective 2 INCREASE # OF FIRST-TIME CUSTOMERS BY 15% COMPARED TO # OF NEW CUSTOMERS OF THE SAME MONTH IN THE LAST FISCAL YEAR TACTICS STRATEGY 2 Place postcard ads and 1st-time visit coupons at nearby businesses Place 1st-time visit coupons in the mailboxes of new apartments Create stronger community ties with nearby businesses and client Situational Analysis | Goals & Objectives $100   For  100   $100     For  100   | Core Strategy | Conclusion
  • 35. Core Strategy Objective 3 ENSURE THE RETENTION OF FIRST-TIME CUSTOMERS MATCHES THE INDUSTRY STANDARD OF 33% IN COMPARISON TO THE SAME MONTH IN THE NEXT FISCAL YEAR TACTICS STRATEGY 1 Welcome kit Wow first-time customers with an unexpected, unforgettable experience (sample products, contact card, etc.) Send thank-you email after appt. & reminder for next appointment (in addition to standard servicecoat, beverage, etc) Situational Analysis | Goals & Objectives Ask to schedule next appt. when customer leaves | Core Strategy | $7   Per  Kit   $12.50     Per  Month   No  Add.   Cost   Conclusion
  • 36. Core Strategy Objective 4 INCREASE THE NUMBER OF CHAIR RENTERS BY 2 OR 3 COMPARED TO CHAIR RENTAL OCCUPANCY 6 MONTHS PRIOR STRATEGY 1 TACTICS Increase brand awareness of Stratosphere in the professional hair industry Situational Analysis | Goals & Objectives Ads in professional hair magazines $500  (~)   Per  Ad.   Increase presence in media $TBD   (hair specialist column-such as VanCity Buzz) | Core Strategy | Conclusion
  • 37. Core Strategy Objective 4 INCREASE THE NUMBER OF CHAIR RENTERS BY 2 OR 3 COMPARED TO CHAIR RENTAL OCCUPANCY 6 MONTHS PRIOR STRATEGY 2 TACTICS Justify the above average price of Stratosphere chair renting Situational Analysis | Goals & Objectives Ensure junior stylists/receptionists clean & assist senior stylists No  Add.   Cost   Provide educational workshops targeted towards senior stylists No  Add.   Cost   | Core Strategy | Conclusion
  • 38. Core Strategy Objective 5 INCREASE MONTHLY PRODUCT SALES BY 10% COMAPRED TO THE SAME MONTH IN THE PREVIOUS FISCAL YEAR TACTICS STRATEGY 1 Attach samples to full-sized popular products In store promotion (small tent signs) at styling chairs (provided by Drive awareness and penetration of hair products | $150   distributor) Adam’s   Pick   Situation Analysis TBD   Goals & Objectives | Each month a stylist pick their favorite product and it is marked Core Strategy | $15   Conclusion
  • 39. Core Strategy Objective 5 INCREASE MONTHLY PRODUCT SALES BY 10% COMAPARED TO THE SAME MONTH IN THE PREVIOUS FISCAL YEAR TACTICS STRATEGY 1 Ask stylists to tell customers the products they are using (samples) Ensure Stratosphere is listed on distributors websites Situational Analysis | Goals & Objectives | No  Add.   Cost   Promote product brands on tent sign and in window display Drive awareness and penetration of hair products No  Add.   Cost   Cost  Covered   in  OB.  1   Core Strategy | Conclusion
  • 40. Core Strategy Objective 5 INCREASE MONTHLY PRODUCT SALES BY 10% COMAPARED TO THE SAME MONTH IN THE PREVIOUS FISCAL YEAR TACTICS STRATEGY 2 Place small, low priced products next to cashier (travel sized items) $50   Increase sales through impulse buys Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 41. Core Strategy Objective 5 INCREASE MONTHLY PRODUCT SALES BY 10% COMAPARED TO THE SAME MONTH IN THE PREVIOUS FISCAL YEAR TACTICS STRATEGY 3 Have retail displays with signs on how to best use the product $100   Outline benefits of salon over drug store products on small signs $100   How   To..   Educate customers on how to use products Have customers participate in styling of hair Situational Analysis | Goals & Objectives | Core Strategy | No  Add.   Cost   Conclusion
  • 42. Implementation Three Phase Process Jan.   Sidewalk  Sign  and  Window  Display   Social  Media   PHASE  1   Post  Card  Ads  and  1st  Visit  Coupons   Schedule  Next  Visit   Aug.   Sept.   Oct.   Nov.   Dec.                                                                                                                                                                                                                   Offer  Quick  Services                           é  Rev.  from  Exis>ng   Email  NewsleNer   Customers           VIP  /  Loyalty  Card       *                       Tell  Customers  About  Products  they  are  Using   Ensure  Listed  on  Distributor  Websites   Product  brands  on  Window/Sidewalk  Display   Place  Small  Low-­‐Cost  Items  Next  to  Till   Retail  Displays  with  “How  To”  Descrip:ons   Small  Signs  -­‐  Salon  vs  Drug  Store  Products   Have  Customers  Par:cipate  in  Styling  of  Hair   |          Jr.  Stylists/  Recep:onists  Assist  Sr.  Stylists   *  SoXware  Implemented  in  Thank-­‐you  email           Increase  Presence  in  Media   Educa:onal  Workshops  for  Sr.  Stylists   PHASE  2   July           Ads  in  Magazines   PHASE  3   June       Thank-­‐you  email   Situational Analysis May       Welcome  Kits   Increase  Product   Sales     April       1st  Time  Visitor  Coupons   Increase  #  Chair   Renters   Mar.           Increase  #  of  First   Hair  Specialist  Column   Time  Customers   Discounts  to  S:mulate  Referrals   Retaining  New   Customers   Feb.                                                                                                                   **                                                                                       **  Implemented  in  Phase  1                   Goals & Objectives         |             Core Strategy     |                         Conclusion
  • 43. Conclusion Increase service revenue of existing customers Increase number of first time customers Ensure retention rates of new customers Increase chair renting occupancy Increase product sales S T R A T E G I E S   T   A   Situational Analysis C   | T   Goals & Objectives I   | Core Strategy S   C   | Conclusion
  • 44. Hairdressers are a wonderful breed. You work one-on-one with another human being and the object is to make them feel so much better and to look at themselves with a twinkle in their eye. - Vidal Sassoon Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 45. Appendix Slides S u p p l e m e n t o f P r i m a r y Re s e a r c h Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 46. Appendix 1 C u s t o m e r A n a l y s i s - P s y c h o g r a p h i c Tr a i t Importance of Having Great Hair Everyday 70%   60%   50%   40%   Current Customers 30%   Potential Customers 20%   10%   0%   Very Unimportant Situational Analysis Somewhat Unimportant | Neutral Goals & Objectives Somewhat Important | Very Important Core Strategy | Conclusion
  • 47. Appendix 2 Competitive Benchmark / Matrix 2   Situational Analysis 4   | 3   Goals & Objectives 5   | 5   Core Strategy 5   1   | 2   Conclusion
  • 48. Appendix 3 Objective 1 Increase monthly service revenue from existing customer base by 15% in comparison to monthly sales of the last fiscal year. Monthly Service Revenue Existing Client Base % $52,000 X Current $38,480 Situational Analysis 74% Monthly Service Revenue from Existing Client Base = Target X Goal Revenue 115% | Goals & Objectives $38,480 = | Core Strategy $44,252 | Conclusion
  • 49. Appendix 4 Objective 2 Increase number of first-time customers by 15% in comparison to number of new customers of the last fiscal year. Current New Customers / Year Goal for New Customers / year % Increase 1,111 1,300 1,300 / 1,111 = 1.1701 Goal = ~15% Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 50. Appendix 5 Objective 2 Increase number of first-time customers by 15% in comparison to number of new customers of the last fiscal year. Current New Customers / Year Goal for New Customers / year % Increase 1,111 1,300 1,300 / 1,111 = 1.1701 Goal = ~15% Situational Analysis | Goals & Objectives | Core Strategy | Conclusion
  • 51. Appendix 6 Objective 4 Increase monthly product sales by 10% compared to the same month the last fiscal year Avg Monthly Product Sales X 110% Monthly Increase of $9,175 $10,092.5 ~ $900 Situational Analysis | Goals & Objectives | Core Strategy | Conclusion