Preview

Analyzing Buyer Behavior Simulation Summary: Barber Spa

Satisfactory Essays
Open Document
Open Document
352 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Analyzing Buyer Behavior Simulation Summary: Barber Spa
Analyzing Buyer Behavior Simulation Summary
University of Phoenix
MKT435

Analyzing Buyer Behavior Simulation Summary * Positioning Strategy: Barber Spa 1. Value Added Services: Hairstyle, Color, Pedicure, Manicure 2. Luxury Services: Massage and Concierge Service
Budget Spent: 354 out of 500 * I choose this positioning strategy because the men in the area indicted that they would like more services. * The gentlemen in the area displayed a preference for extra treatments other than the ordinary services offered at a typical barber shop. * Number Of Salons In Each City: 1. Albany: # of Lords: 0, # of Masters 0 2. Dutchess: # of Lords 6, # of Masters 0 3. Niagra: # of Lords 0, Number of Masters 6

You May Also Find These Documents Helpful

  • Better Essays

    Marketing Simulation

    • 1993 Words
    • 8 Pages

    Our company Orange experienced a very successful campaign and grew more profitable over the six quarters throughtout the Market Simulation. In terms of market share in comparison to the competition, we placed fourth holding 12 percent market share. We initially targeted the Mercedes market, and later developed products aimed at the Traveler and Workhorse clientele. In terms of profitability, we suffered a loss moving from Quarter 1 to Quarter 2, which is typical of most early-stage companies. However, each quarter thereafter we were able to maintain a profit, ending with $18,270,122 gross profit and $15,232,910 operating profit. Our six computer models are the driving factor behind such success. These models include The Motherboard, Babyboard 2.0, Horseboard, Superboard, Toddlerboard, and The Ponyboard. The Superboard, out of all the models, was our most profitable device with $6,303,840 in profit. We also embarked on a major expansion endeavor, spreading our brand originally from Chicago to Paris, Shanghai, and Sao Paulo. Our knowledgeable sales force comprised of 60 individuals, coupled with our extensive advertising and competitive pricing allowed Orange to rise to the top.…

    • 1993 Words
    • 8 Pages
    Better Essays
  • Good Essays

    Marketing Simulation

    • 275 Words
    • 2 Pages

    Studying of the data under analysis reveals the changes in pricing strategy over the duration of the 6 simulations. When specific reference is made to the Unit Price it can be noted that for the first 3 simulations the Unit Price for the backpack, targeted primarily towards Urban Computers, was $45. But, in the 4th and 5th rounds of sales, the Unit Price was decreased to $34. Lastly, in the 6th and final simulation of analysis the Unit Price was decreased to a final price of $28. Analysis of the Price Score KPI suggests varying target segment reaction to the Unit Price of the backpack. In the first three rounds, the Price Score was 4, indicating $45 as being an ideal price for the target segment. However, when the Unit Price was decreased to $34 in the 4th and 5th simulations, the Price Score decreased to 3, indicating that $34 was extremely too low for the target segment. This was also the case in the 6th quarter, with the Unit Price of $28 also receiving a Price Score KPI of 3. However, when the Price Score is compared against competitor scores, it is apparent that the firm’s backpack was priced consistently more accurately than competitors.…

    • 275 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Gentlemen’s Top Option’s competitors are going to be other barbershops in the Burlington, VT area. The top competitors to Gentlemen’s Top Option are The Men’s Room, Main Street Barbers, Indigo, and Bugatti Barbers. The toughest completion would come from Indigo since it is also a full service salon. The difference between Indigo and Gentlemen’s Top Option is that Indigo provides services to both male and female clients while Gentlemen’s Top Option caters exclusively to male clients. Gentlemen’s Top Option differs from the rest of its competitors because in addition to regular barber services (i.e. cutting hair, dying hair, and offering shaves) Gentlemen’s Top Option also offers massages and personal hair removal. According to the latest census number the current population of males age 18 and over is around 40 percent of the Burlington, VT population. This makes up the market size since the target consumer are males in the Burlington, VT area and males age 18 and over are more likely be willing to pay for male grooming services. Areas that would require in depth due diligence…

    • 1127 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    for their own water, they consider the full market price of water when making consumption choices.…

    • 702 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Thorr Motorcycles is a manufacturer of different range of motorcycles, which carries a wide variety of products such as shoes and toys. The image portrayed from the company provides its customers the freedom, masculinity, and mobility of all its products. Thorr Motorcycles is a company that offers a variety of services with dealer training, dealer software, the rental of bikes, and also provides training for individuals that would like to learn how to ride. This organization believes highly of their brand and takes full advantage of the market in which they target for the sale…

    • 1163 Words
    • 5 Pages
    Better Essays
  • Better Essays

    In the video, several principles and concepts of microeconomics and macroeconomics were simulated. In the simulated neighborhood of Atlantis, there are many amenities that customers demand. The simulation uses two bedroom apartments to teach the fundamentals of supply and demand. Several scenarios were used throughout the simulation to represent challenges with which management needed to contend. The scenarios showed how price can affect supply and demand while still being competitive within the market. Within the simulation, microeconomics are used. Microeconomics contends with smaller business sectors, while macroeconomics focuses on the entire economy (DifferenceBetween.net, n.d.). The simulation shows an example of microeconomics in the first scenario. Rental management within this scenario must calculate a rental rate for their two bedroom apartments that will decrease vacant units and increase revenue (University of Phoenix, 2012). This scenario relates to microeconomics because it aims toward supply and demand. The management team needed to decrease rental prices to decrease rental vacancy. Macroeconomics is represented in scenario two, which shows that the rental company has 2500 vacant…

    • 923 Words
    • 4 Pages
    Better Essays
  • Better Essays

    The situation consists of me constructing a perceptual map to create a marketing plan for Thorr Motorcycles. The perceptual map will be based off of parameters fundamental to the product and significant to the customer. I am the marketing manager for CruiserThorr. We are trying to use the parameters to market a new and innovative motorcycle to meet the needs of the target market. The parameters I have to choose from are lifestyle image, product design and styling, coolness, product uniqueness, service offerings, price, engine capacity, safety, and quality engineering.…

    • 1166 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    He claimed that the barbershop services do not come as often as they us too.…

    • 557 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Buyer Behavior

    • 1162 Words
    • 5 Pages

    References: Berkowitz, E. N. (2006). Essentials of health care marketing (2nd ed.). (pp. 108-109, 393, 399,…

    • 1162 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    Regulation

    • 596 Words
    • 3 Pages

    3.The Men’s Groom Shop is an upscale old-world gentleman’s barber shop that offers today’s progressive gentlemen a haven where he can sit back, relax and experience the “World Class” art of grooming and services in a gentlemen’s atmosphere, which is masculine and therapeutic.…

    • 596 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Marketing Simulation

    • 1770 Words
    • 8 Pages

    Marketing Simulation: Managing Segments and Customers Prepare Tab Video Transcripts How to Play Video and Initial Customer Interview Videos “How to Play” Audio Script In this simulation, you are the newly appointed CEO for Minnesota Micromotors, a medical motors device manufacturer. You must determine the company’s overall marketing strategy and make critical decisions around Minnesota Micromotors positioning relative to ever-changing market segment needs and behaviors. These include setting the list price and segment discounts, determining sales force allocation, setting the marketing budget and allocating money to product development. When you first log-in, the “Prepare” section provides you with basic information on Minnesota Micromotors and how the simulation works, including specific information regarding your scenario. Note, that there is a downloadable PDF file you can print if you’d like a reference guide on how to play. Make sure to review the Foreground Reading and view all of the Customer Interview videos contained on this page before beginning the simulation as they provide crucial background information on company and industry trends and data. The “Analyze” section presents numerous sources of information to help you make your marketing strategy decisions every quarter. The simulation begins in quarter 4 of 2012. You will begin with three quarters of historical data to analyze and, as CEO, you need to make quarterly decisions affecting company marketing over the next 13 quarters. The timeline on the right side of the screen will track your progress throughout the simulation. The Dashboard is a great place to start your analysis. It provides a high level view of your market share broken down by segment, quarterly revenue, unit sales, profit margin, net prices and spending on features. In order to make informed decisions for your strategy, review the details contained in the Analyze subscreens. The Net Prices screen shows both your price history and your…

    • 1770 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    customer behaviour

    • 1489 Words
    • 7 Pages

    Any form of business transaction in which the parties interact electronically rather than by physical exchanges or direct physical contact.…

    • 1489 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Clean Edge Razor

    • 1011 Words
    • 5 Pages

    Over the last five year years the industry has seen major advancements in the male grooming industry with the entry of new formidable players turning on the heat for the existing market leaders. Some of the major highlights include…

    • 1011 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    mr admin

    • 318 Words
    • 2 Pages

    I have exceptionally high levels of customer service and objection handling abilities. By providing a warm and comfortable environment to existing clients they would want to stay at our premises for a longer period of time resulting in more revenue for the company.…

    • 318 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Sam Buffa Case Study

    • 906 Words
    • 4 Pages

    Has it ever occurred to you what sets apart a traditional barber shop and a futuristic one? Well, Sam Buffa, the sole proprietor and the owner of Fellow Barbershops is the ultimate business entrepreneur, an individual one cam most definitely learn a lot from. Not only did Buffa put up his first barbershop back in 2006, but also he brought about a new era of hair business that integrates both aspects of hairstyling and barbering. His unique business strategy has ensured that men from different locations clamor for his business’ unique and high-quality style and service which has been described as both hairstyling and barbering brought under the same roof. With the professionally trained barbers and the inclusion of the latest barbering technologies,…

    • 906 Words
    • 4 Pages
    Good Essays