Marketing is an ongoing process of planning and executing the marketing mix (Product, Price, Place, and Promotion often referred to as 4Ps) for products, services or ideas to create exchange between individuals and organizations.
Most people think that marketing is only about the advertising and/or personal selling of goods and services. Advertising and selling, however, are just two of the many marketing activities.
In general, marketing activities are all those associated with identifying the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competitors. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution.
The proponents would want to establish a business based upon studies, surveys and other methodologies and determine whether the business would meet the needs of the customers by applying the concept of marketing. The proponents would also want that the business would also be competitive enough knowing that there are other existing hair salons that have been in the business for a longer time. In making the business be adoptable by many, strategies are important. The proponents want that the business would stay for a long time by attracting the customers with the proper application of marketing.
• The target market of the proponents are the kids ages from 1 to 12 residing within Metro Cebu particularly in Cebu City and Mandaue City. • The proponents named the salon as KIATZ Hair Salon. KIATZ which means playful in vernacular and the acronym for KIds AT Zalon. • There are 50 competitors of KIATZ Hair Salon within Cebu City and Mandaue City based on the record given by the Department of Trade and Industry. • The proponents consider 3 hair salons out of the 50 to be the major competitors. • KIATZ Hair Salon will be situated at the Mall particularly at SM City Cebu based on the preference of the respondents who answered the survey questionnaires. • KIATZ Hair Salon will be adding some features and amenities to attract kids like television sets, mini playground, mini library, and customized kiddie barber’s chair. • Based from the survey, there is a percentage of 100% who would want to avail of the services catered by KIATZ Hair Salon. • The methods of projection for both the demand and the supply that the proponents choose based on the results is the Arithmetic Geometric Curve. • Based on the computation of the market share, there is still 40.21% of the market that has not been catered which means that it is possible that KIATZ Hair Salon can acquire a good share in the market. • It is the Juvel’s Salon for Men and Women who has the highest market share that is 2.54% for the year 2007. • Promotional programs that are being used are print advertising in newspapers, airing in the radio stations, distributing flyers, and posting of tarpaulins.
• The major competitors of KIATZ Hair Salon are Bartber’s Kiddie Salon, Salon de Rose, and Juvel’s Salon for Men and Women. • The proponents randomly distributed survey questionnaires to parents particularly mothers with kids ages 1 to 12. The results of the survey were used in computing for the potential demand. • Of the 100% of those who will avail of the services of KIATZ Hair Salon, the proponents assume that only 50% of this demand is considered the actual demand. • The supply values are based from the interview and the data given by respective persons of the three competitors. • The potential demand of KIATZ Hair Salon are based from the NSO Census 2000 data of the total population of kids ages 1 to 12. • The total number of competitors KIATZ Hair Salon...