Running Head: Diva So Beautiful

Running Head Diva So Beautiful

Cleaning the provided content reveals that the core assignment prompt is to write an academic paper based on the business analysis of Diva So Beautiful, a beauty supply store and mini hair salon in Oxford, MS. The assignment requires a comprehensive paper that covers the introduction, environmental analysis including competitive forces, economic, political, legal, technological, and sociocultural forces, target market analysis, marketing mix (4Ps), 5Cs framework, segmentation, targeting, positioning (STP), short-term and long-term goals, ways to measure these goals, SWOT analysis, and concludes with references. The paper should be approximately 1000 words, include well-researched references, and follow academic writing standards.

Paper For Above instruction

Introduction to the Business

Diva So Beautiful is a multifaceted beauty enterprise located in Oxford, Mississippi, combining a beauty supply store with a mini hair salon. It caters primarily to African-American women, offering hair products, cosmetics, and comprehensive beauty services, including hair installations, eyelash application, brow waxing, and child-friendly amenities. The store’s strategic integration of retail and salon services aims to provide a one-stop-shop experience that meets the convenience needs of busy mothers and college students. Despite its success, Diva So Beautiful faces intense industry competition, requiring strategic differentiation to sustain growth and attract a loyal customer base.

Environmental and Market Analysis

Competitive forces are pivotal in shaping the success of Diva So Beautiful. The beauty industry is saturated, with existing local competitors, though the company’s unique offering—an integrated shopping and service experience—sets it apart (Sadgrove, 2015). Regular analysis of competitors' marketing, product innovations, and promotional strategies helps the business adapt and innovate. Additionally, market dynamics such as fluctuating interest rates, consumer demand, and economic stability impact operational decisions (Sadgrove, 2015). Although external economic forces are beyond immediate control, strategic resource allocation enables Diva So Beautiful to navigate these challenges effectively.

Political and Legal Environment

Government policies, especially taxation and regulation, influence the business environment. Increased taxation or regulatory changes can affect pricing and profitability (Fernie et al., 2015). The company maintains compliance with legal standards, ensuring operations align with industry regulations concerning licensing, safety, and employment laws, which are essential for maintaining business integrity and customer trust (Fernie et al., 2015).

Technological and Sociocultural Factors

Advancements in technology, such as social media marketing, e-commerce, and booking apps, are leveraged to reach broader audiences and enhance customer experience (Fernie et al., 2015). The company actively promotes its services through social platforms and online content. Sociocultural factors, including cultural identity, gender roles, and social lifestyles, influence consumer preferences. Understanding these influences helps Diva So Beautiful tailor its offerings to meet cultural expectations and foster brand loyalty (Fernie et al., 2015).

Target Market Analysis

The primary target includes African-American mothers and college students, a demographic that values time-efficient, comprehensive beauty solutions. College students often lack knowledge of local beauticians, presenting an opportunity to attract first-time clients through strategic marketing. The store’s location near a university ensures accessibility and visibility, essential for attracting these customers. The inclusion of child care services caters to mothers seeking convenience, further reinforcing target market appeal.

Marketing Mix (4Ps)

Product:

  • Virgin hair, wigs, synthetic hair, and beauty products.

Pricing:

  • Prices are set based on vendor costs, with a markup that balances competitiveness and profit margin. Booth fees paid by beauticians influence their pricing strategies.

Promotion:

  • Social media campaigns, word of mouth, and promotional events such as educational talks with makeup artists and celebrity stylists.

Placement:

  • Strategically located in an accessible area with ample parking, close to campus frequented by students and locals.

5Cs Framework

Customer:

  • Focus on providing a convenient, all-in-one beauty destination for African-American women, primarily mothers and college students.

Company:

  • Offering quality products and licensed cosmetologists to meet customer needs.

Competition:

  • One local beauty supply store; several salons but lacking integrated services like Diva So Beautiful.

Collaborators:

  • One main vendor providing bundled products, reducing procurement costs.

Context:

  • No significant limitations currently hinder the business; opportunities include market demand and differentiation.

Segmentation, Targeting, and Positioning (STP)

Diva So Beautiful segments its market by demographic factors—age, ethnicity, and lifestyle—targeting primarily African-American women, especially busy mothers and students. The positioning emphasizes convenience, comprehensive services, and quality, aiming to be the preferred one-stop beauty destination in Oxford, MS, emphasizing time-saving and cultural relevance.

Goals and Performance Measurement

Short-term goals include increasing customer acquisition via marketing campaigns, product testing, and community engagement. Success metrics involve tracking website visits, sales volume, and customer feedback. Long-term objectives encompass expanding locations, increasing product lines, and building brand recognition nationally. Key performance indicators (KPIs) include market share growth, customer loyalty metrics, profit margins, and social media engagement (Zenker & Martin, 2011; MetrixLab, 2015).

SWOT Analysis

  • Strengths: Unique integrated service offering, quality hair products, and child-friendly amenities.
  • Weaknesses: New entrant in the area, higher product prices, limited initial inventory.
  • Opportunities: Niche market with limited competition, potential for expansion, and technological integration.
  • Threats: Evolving industry competition, customers’ loyalty to established beauticians, and potential imitation of business model.

Conclusion

Diva So Beautiful embodies a strategic business model tailored to the cultural and demographic needs of its community. By leveraging its unique value proposition—combining retail with salon services—and utilizing strategic marketing, technological tools, and targeted expansion plans, the company aims to carve out a sustainable niche within the competitive beauty industry. Continuous environmental scanning, customer engagement, and operational innovation will be key to its long-term success, ensuring adaptability and growth in an evolving marketplace.

References

  • Fernie, J., Fernie, S., & Moore, C. (2015). Principles of Retailing. Routledge.
  • MetrixLab. (2015). Customer Value | MetrixLab. Retrieved July 26, 2015.
  • Sadgrove, M. (2015). The complete guide to business risk management. Ashgate Publishing.
  • Zenker, S., & Martin, N. (2011). Measuring success in place marketing and branding. Place Branding and Public Diplomacy, 7(1), 32-41.
  • Ogunjimi, A. (n.d.). How to do good sales in beauty supply. Retrieved from [source]
  • Additional scholarly articles on beauty industry marketing, demographic targeting, and service innovation.

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