Point of View
Owners of Pranav New York.
Statement of the Problem
What should the owners of Pranav New York do to be able profitably compete in the market and create sustainable business operations? Statement of Objectives
1. To identify the compelling reason to Pranav New York’s lower generated income compared to its competitors. 2. To determine the appropriate technique in translating the initial success of earning a male market share into tangible net income.
Areas of Consideration
- Pranav New York has the first-mover advantage being the first-ever “one-stop shop” on spa and grooming services catered to the male market - Highly differentiated as it offers both spa and grooming services to the male clientele - No direct competitor
- Target market is too specific, giving the company an opportunity loss from the female market who also avails of the same services - Target market is also solely focused on the foot traffic in Robinsons Galleria. - It is a new concept in the local market and the brand has no relationship with other existing salon or spa services in the industry, reception from the target market may not be as good as the owners initially projected. - May not have essential equipments
- There is a lack of spa and grooming services specifically catered to the male clientele which will not make them feel “less manly.” - There is a growing demand from the male market, specially to those working, to look and feel good.
- Highly competitive industry.
- There are already many existing spa and salon in the industry. - The concept of an “all-male spa and salon” in the local market may have negative connotations to some. -
--Are we shifting the target market? from male to male and female? if this affects our ACA, maybe we can put the target market in the recommendation part?
Please join StudyMode to read the full document