The Marketing Mix: Products and Brands

Table of Contents

COMPETITIVE ADVANTAGE ANALYSIS1

MY TARGET SEGMENTS2

DESCRIBING THE SERVICE2

People3

Physical Environment3

Process4

MISSION STATEMENT FOR FINE LOOK4

OBJECTIVES AND GOALS FOR FINE LOOK4

The Marketing Mix: Products and Brands

COMPETITIVE ADVANTAGE ANALYSIS

Businesses without a sustainable competitive advantage always remain at the risk of losing being outclassed by the competitive forces that they face, especially from their rivals (Bruhn & Georgi, 2006). Therefore, it is imperative for Fine look to define and sustain it's competitive advantage. It is apparent from the product/market matrix presented below that Fine Look's competitive advantage would be in its ability to appeal to a niche market, which appears to be largely underserved and untargeted by the leading barbershop and hair salon chains operating within the US market. This niche belongs to the upper income class segment of the US market, with mostly metrosexual men and corporate executives.

Income Group

Services Offered

Lower Income Class

Middle Income Class

Upper Income Class

Hair Cutting/Styling

The BaberShop, Major League BaberShop, Sports Clip

Regis, The BaberShop, Major League BaberShop,

Sports Clip

Regis

Hair Care

Sports Clip

Regis, Sports Clip

Regis

Hair Grooming

Sports Clip

Regis, Major League BaberShop, Sports Clip

Regis

MY TARGET SEGMENTS

Following are the segments and sub segments, which Fine Look would aim at targeting.

Primary Potential Target Market

Description

Metrosexual men (Middle to Upper Income Class)

Metrosexual men from the upper middle and upper income class represent a core segment, which is underserved, and a niche that Fine Look intends to appeal

Middle Aged men (Middle to Upper Income Class)

This segment represents the prime target market of Fine Look since many corporate people looking for sophisticated and elegant hair styles are likely to fall within this segment

Old Aged Men (Middle to Upper Income Class)

This segment is less likely to consist of many metrosexual men since with old age many men do not pay meticulous attention to their hair styles. However, since many corporate executives and businessmen are likely to be in their old age, this segment would be targeted

Teenagers and young men (Upper Middle to Upper Income Class)

Although, Fine Look can find many customers in this segment that would appreciate the offerings and services of the Fine look, the organization would refrain from targeting these customers since they do not fall in the primary target market of Fine Look which is metrosexual and corporate men

Therefore, Fine Look would focus all of it's resources and energies at targeting corporate executives and metrosexual men belonging from the upper middle and upper income class since they represent an underserved niche within the larger ...