Business Environment Hnd

marting is a process used to satisfy and tump over what harvest-homes or services be needed by the consumers. There atomic number 18 near(prenominal) alternative definitions of selling much(prenominal) as the charted institution of tradeing market is the management process responsible for identifying, anticipating and satisfying node requirements profitably. The American Marketing Association believe that Marketing is the process of preparation and executing the conception, price, promotion, and distribution of ideas, goods, and services to create ex diversifys that satisfy individual and establishment goals.Philip Kotlerinterprets that securities industrying is satisfying inescapably and wants through an exchange process the harsh quest in all three definitions is fulfilling customer needs and providing benefits The sensitive commerce enterprise that I leave chosen to discuss is called vibrissa now this is a professional blur salon that is locate in the hear t of Kentish town for over 30 years. pig today has a total of 20 employees, including fuzzstylists, hair washers and administration staff, including a cashier.The salon offers many services such as styling hair, men haircuts, colouring, perming. The marketing process consists of quadruplet elements Situation Analysis, Marketing Strategy, Marketing Mix Decisions and Implementation Control. Situation abstract is when through an analysis the society finds the customer needs but in order to do this the ac caller must recognise its own authorisation and the environment in which it is managing.Situation analysis should look at all the factors of the order such as the past where the company is now and where it should be in future. This analysis provides problems there be frameworks which do the situation analysis such as SWOT and PEST analysis. SWOT analysis refers to the strengths, weaknesses, opportunities and threats facing a job The marketing strategy is to ensure the scrat ch market is beingness pursued. The strategy consists of memberation, targeting and spatial relation the product within the target market.Marketing Mix Decisions at this stage detailed decisions be being do such as the development of the specific product, designing and producing the first pieces of the product and withal pricing decisions Implementation and Control is the final stage of the marketing process the results of the marketing progress should be monitored when the market changes the market mix can also change to adapt to the consumer needs as time goes on a new product can even be produced although this is the last tage of the marketing process changes entrust always occur to satisfy varied consumer needs Companies continue to exist by achieving their long-term goals. Market orientation helps to execute the business goals and objectives a business which adopts market orientation thinks that its near important resource are its customers. The benefits of adoptin g market orientation for tomentum Today is that through market question the hair salon will stir a strong understanding of the needs of the customer.Customer feedback is springy to the company companies dispose to be too involved with the product that they forget about the everyday customer satisfaction for example hair salons switch a large variety of market reach and also a enormous muckle of contestation. The costs of adopting marketing orientation for whisker Today would be the mettlesome costs for the market interrogation this the constant internal change as needs of the customers are met. Macro environment are the outside indocile factors that may affect a managers decisions this can have an effect on the company the PESTEL model framework is used.Political factors such as government policies and the thriftiness also new laws on small businesses Political factors can have a huge effect on many areas for business want education and the quality of health care. The hairdressing industry is having difficulties recruiting although some government funding policy has helped it has a vacancy rate of 20% also the government increased the taxes for businesses this has had a huge effect. Economic factors influences marketing research such as interest rates also the changes in the scotch growth and exchange rates.All businesses go through an economical ups and bucks in an economic boom all businesses will benefit although if can go trim back and businesses can lose out. Currently hair preaching products are not considered a necessity more of a luxury so this market is dependent on how strong the economy is. Cheap credit and interest rates benefited the hair industry in the past. Social factor refers to demeanor patterns and lifestyles. Changes in consumer demeanour can also have an effect on changes in fashion . Currently we have an ageing population. Social change gives companies a understanding for the future market situation. Hair Today w ill have to slide by up with the latest fashion and styles which may depart between ages. . Technological changes are the amount of new technology that is increase electronic communications has made it easier to distribute information. Hair salons must keep up with the new trends and technology as this helps develop the company and excite them more successful Employees will research the newest technologies in the market do some experiments use models try new haircuts if the experiments turn out to be a success it will apply to salon.Micro environment are factors which are internal this affects the business performance such as customers, competition, suppliers, public, employees and lay on the lineholders. If a company decided to move to a public ownership they list their business in the stock market so the public can charge in the company although share holder relationships must be professionally man senior to succeed long term goals. Identifying the stake holders Potential sta keholders at Hair Today Your boss Shareholders Government Senior executives Alliance partners Trades associations Your co-workers Suppliers The press Your aggroup Lenders Interest groups Customers Analysts The public Prospective customers Future recruits The community Your family Some stake holders are more interested and involved than others to narrow down the people a power/interest grid is used. The grid shows that the people that have the high power and are more interested in my company these are the people who I will engage with and make great efforts to satisfy.Corporate culture determines how the employees and higher(prenominal) management interact these transactions occur over time. Hair Today has an employee friendly corporate culture it is shown by the companys dress code, flexible working shifts , employee benefits such as employee discounts the treatment of the clients and overall client satisfaction. Porters quin forces was first realised by Mic hael E. Porter of Harvard pipeline School in 1979 the five forces are a framework to help businesses determine the rivalry intensity and industry profitability of a market.The five forces consists of threat of mew entrants to a market, the power of buyer, the power of the suppliers, the threat of moderation products and the competitive rivalry between already existing companies as shown in the diagram below. Segmentation is the process where larger markets are broken down to smaller segments this will make it easier to understands the wants and needs of the customers the overall outcome would be creating a marketing mix that is suited or the customers in the target segment. The quadruple main factors of segmentation are behavioural, demographic, psychographic and geographical.Geographical segmentation is part by country, city or neighbourhood. Age, family size, income, occupation, education, ethnicity and religion can all be segmented demographically. Lifestyle, interests refers psychographic segmentation. Behaviour segmentation refers to customers buying behaviour, product mix also absolute frequency of purchase the best form of segmentation is using all four factors as they all are very helpful. Hair salons have a wide variety of customers to deplumate therefore segmentation is very vital for this business to succeed in the future.The two products or services that Hair today will provide a bridal service to get in female customers where they will be pampered and receive a makeover the target market for this service is female aged 20-35 with a balanced income also the other product I will be proposing hair is extensions this will attract the teenage customers and women. The marketing strategy I have chosen for Hair Today is concentrated strategy focussing mainly on just one segment this can be positive for the salon because the business will have more knowledge on the particular segment.Females aged 13-19 there are many teenagers in this area which th e salon is situated this is due to the schools in the area. Hair Today believe that the target segment will benefit from the service of hair extensions as this is a ripening fashion although there can be a hook of competition which leads to Threat of intense segment rivalry. New salons may decide to pass around up this refers to the threat of new entrance also there are many products already provided in the market that teenagers can use themselves so the salon is not needed this is known as threat of military reserve product.The threat of growing bargaining power of buyers is very important because the higher the charges the more likely the customers are to move to a cheaper salon. emptor behaviour is attitudes of the customers and how often they purchase. Buying behaviour involves the process in which a customer finds a product studies the product and makes an overall decision on whether the product meets the customers needs and wants.The main types of buyer behaviour are cons umer and industry two types of buying behaviours are impulses purchases refers to when a purchase is made with no plan this purchase is associated with items of lower prices. Extensive decision qualification these are products which are higher priced such as TV and cars when customers research as much as they can they may also exact family and friends for advice or read reviews this decision making takes up a lot of time because the customer is purchasing a product that is high priced Buyer behaviour stimulus response modelBuyer behaviour is essential because it makes you understand what your customer. Market research and producing surveys will help you find the customers needs and requirements. Social media sites are the most popular process in business marketing this allows customers to interact online and new products can get instant feedback. Many businesses introduce discounts to defend loyal and consistent customers. Companies determine how much customers spend the products which are being sold and judging on how often customers are spending helps introduce a pricing policy for Hair Today.Hair extensions portray varied opinions some customers keep up with new trends and may want a different look however other members of thecommunity might find it doesnt fit their customer needs. Hair today will start this positioning process by advertising on the internet and offering hair treatment for all types of hair also free samples of exclusive hair products. The hair industry are forever striving to keep up their image and keep their product current a change in positioning can attract new target market. References Assael, H. , Reed, P. nd Patton, M. (1995) Marketing Principles and Strategy Harcourt-Brace, Sydney Business study guide edexcel marketing principles pp. 479-659 Habia (standard information solutions) Skills hypermetropia for the Hair and Beauty Sector 2007 http//www. habia. org/uploads/Skills_Foresight_2007_v. 4_-_2. 07. 07_Final. pd Lamb, W. , Hai r, J. , McDaniel, C. (1998), Marketing, (4th), South-Western College Publishing, Cincinatti. Kotler, P. , Armstrong, G. , Brown, L. , Chandler, S. A. (1998), Marketing, (4th), Prentice Hall, Sydney www. businessdictionary. com