1

Running Head: Market Analysis Research

Market Analysis Research

DAT/565

m
er as
co
eH w
o.
rs e
ou urc
o
aC s
vi y re
ed d
ar stu
is
Th
sh

This study source was downloaded by 100000826760723 from CourseHero.com on 06-03-2021 16:02:21 GMT -05:00

https://www.coursehero.com/file/69460925/Market-Analysis-Researchdocx/
 2
Market Analysis Research
Marketing Analysis Research

Section 1: Business overview, mission and vision

The business being proposed is a beauty bar and lounge where women can

come and get pampered through various services like hair, nails, and good

conversation. Much like barbershops, where some men go to get away and hang out

with their guys, this place will aid as the same concept but have a focused purpose that

will engage women from all over through pampering, workshops, and such. These

workshops can be beauty related as well as on things in a deeper context dealing with

m
er as
self-love and prosperity.

co
eH w
Mission: To offer beauty services while having a good time and gaining inner

o.
peace with one's self.
rs e
ou urc
Vision: The goal of this beauty bar and lounge is to allow women to feel

comfortable in a space where they can not only come to be pampered, but to
o
aC s

embrace women empowering other women. To walk in confidence and get the
vi y re

support, they need to be better individuals.

Section 2: Market analysis

ed d
ar stu

As stated before, this beauty bar will pose as a place for pampering and

conversation catered to women. Personally, I have not seen this done, which is why I
is

believe that the outcome of this will be positive since it is not something you would
Th

typically see. When trying to implement this, it is essential to look at how it will be

affected geographically. In this kind of business, this is an important factor that will be a
sh

make or break. Somehow, we must be able to draw a crowd that is diverse. This will

generate through strategically planting this in an area that will attract a large volume.

This study source was downloaded by 100000826760723 from CourseHero.com on 06-03-2021 16:02:21 GMT -05:00

https://www.coursehero.com/file/69460925/Market-Analysis-Researchdocx/
 3
Market Analysis Research
Another factor to consider is the age groups and the incomes of customers that are

targeted. The target is to attract all ages because we need the wisdom of older women

with different life experiences to pour on the younger generations. Older women can

definitely learn from younger women, for example, learning about the new trends that

come out year after year. The income of the customer also plays a role. According to

Suttle (2019), people with lower incomes will do what is affordable for them while those

with a greater income can afford to spend a bit more. It is important to be able to cater

to both. The price should be affordable enough to reach all income ranges while still

m
er as
gaining a profit.

co
eH w
Competitors

o.
Some competitors that we may face are other places like spas and beauty
rs e
ou urc
salons. It is important that we stand out and come up with a strategic plan that will work

in the long run.

o
aC s

Estimated market size

vi y re

We are expecting to make a revenue of at least 2,500,000 in the first year.

Expected Market Value

ed d
ar stu

Expected Market Value: Beauty Bar & Lounge

is

Avg. Unit Price Market Value

Probability p(x) Units ('000)
Assumptions ($) ('$000)
Th

Pessimistic 0.20 2190 150 328,500

Most Likely 0. 60 2920 200 584,000
sh

Optimistic 0. 40 3650 300 1,095,000

Expected Market
Value ('$000) 2,007,500

This study source was downloaded by 100000826760723 from CourseHero.com on 06-03-2021 16:02:21 GMT -05:00

https://www.coursehero.com/file/69460925/Market-Analysis-Researchdocx/
 4
Market Analysis Research

Section 3: Recommendation

After analyzing all of the information collected thus far, I would say it is a good

idea to continue to implement this business plan. I recommend this because of the

original purpose. We should also keep in mind that we start off small so that we are not

doing too much and end up failing badly. Once we have quality services and people like

what they are receiving all around, more people with come. I believe women want to

bond and come together while being able to relax and unwind. It is far more than your

m
er as
average beauty salon; it is a movement.

co
eH w
o.
rs e
ou urc
o
aC s
vi y re
ed d
ar stu
is
Th
sh

This study source was downloaded by 100000826760723 from CourseHero.com on 06-03-2021 16:02:21 GMT -05:00

https://www.coursehero.com/file/69460925/Market-Analysis-Researchdocx/
 5
Market Analysis Research
References

Suttle, R. (2019, March 04). The Definition and Examples of "Target Market". Retrieved

from https://smallbusiness.chron.com/definition-examples-target-market-

24641.html

m
er as
co
eH w
o.
rs e
ou urc
o
aC s
vi y re
ed d
ar stu
is
Th
sh

This study source was downloaded by 100000826760723 from CourseHero.com on 06-03-2021 16:02:21 GMT -05:00

https://www.coursehero.com/file/69460925/Market-Analysis-Researchdocx/
Powered by TCPDF (www.tcpdf.org)