Fig Hairdressing. What is the most important factor in improving the Promotion mix of the business?

Authors Avatar by kayapara (student)

27th September 2011                 

Business Studies Controlled Assessment

“What is the most important factor in improving the Promotion mix of the business?”

Target Market- The set of people from the population to which a company wishes to sell. Target markets are typically defined by demographic information such as age, income level, ethnicity, or interests, and not by body size or shape.

Marketing Mix- The marketing mix is the combination of product, price, place and promotion for any business venture. No one element of the marketing mix is more important than another, each element ideally supports the others. Firms modify each element in the marketing mix to establish an overall brand image and unique selling point that makes their products stand out from the competition.

Promotional Mix- A business's total marketing communications programme is called the "promotional mix" and consists of a blend of advertising, personal selling, sales promotion and public relations tools. There are seven main aspects of a promotional mix which are:

  • Advertising
  • Personal Selling
  • Sales Promotion
  • Public Relations
  • Corporate Image
  • Direct Marketing
  • Exhibitions

Introduction to ‘Fig’

Fig is an entrepreneurial business which was founded by Maria Zoumides. There have two branches which are situated in Dartford and Blackheath. At Fig Hair Salons, they have a unique approach to hair design. Delivering beautiful styles - with knowledge of the latest trends and techniques - they take a personal approach to understand their customer’s hair and help them recreate the salon-perfect look at home. Fig has a Paul Mitchell Color Bar accreditation, offering best-in-class hair colour as well as Paul Mitchell products, and is a 365 salon - a guarantee of first class training and excellence.

Product

The owner states that their philosophy is “If we style your hair we please you for a day. If we teach you to style your hair we make a friend”. This can be assured to be right as Fig provides high quality services that incorporate the use of speciality products that produce of organic and natural ingredients. This is the main selling point of the Figs salon as it is one of the major reasons why customers would purchase from the business. (See Appendix 2 for survey and results)

Price

Fig’s pricing reflects the education level of their stylists, which is determined by training and practical experience, as you can see below is Fig’s price list to support this statement. Furthermore, I have carried out some primary research on the pricing offered by local competitors of Fig’s. The table below displays the pricing of a ‘Cut & Blow Dry’ for Fig and 3 other competitors. My research conducts that Fig’s charge higher prices than its competitors except ‘Raw’, as Fig didn’t predict to approach a risk because the service is of such a high quality. This premium price also helps to create and support the image that Fig has the best quality and highest value salon available to the consumers.

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Place

Fig belongs 2 branches which are situated in Dartford and Blackheath. Both branches are located at the centre of the town, this is vital for the business as their target audience will be in the town most of the time resulting a lot of potential customers for the business. Customers will be travelling across the branch several times to get to places as it is also known as a short cut for the general public therefore it would ...

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