Pricing strategy spa services,what is the best photo editing software easy to use,critical success factors of social media marketing campaigns for consumer goods,online marketing 360 - Downloads 2016

SPA will help you to identify the appropriate pricing strategy and architecture to maximize value creation for your customers and value capture for your shareholders.
Epicor and SPA have collaborated to develop an add-on Strategic Pricing Module and related data services. Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals, business owners, creative professionals, and independent contractors. Yields in the air cargo market fell by a “whopping” 15% year-on-year in 2015, according to the latest data by WorldACD. Despite your best efforts, your menu prices will eventually need to increase, whether it’s due to increased ingredient costs or as a means to pay for your growing staff. Mega-Manufacturers continue their proven strategy to sustain profitability in a slow growth economy – tighten up their supply chain.
Summary: With the Price Estimation scene (PE scene) Christoph Breidert introduces a new method to estimate willingness-to-pay. CONFIDENCE IN HOW TO PRICE PHOTOGRAPHY 82% of photographers surveyed stated that they are clueless or only slightly confident that their prices are profitable. Register to attend our webcast where Greg Smith, Director of Pricing at Mayer Electric Supply Co., will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to increase prices and margins without sacrificing sales volume.
This blog series provides a forum for pricing professionals to share their insights and experience. This blog category offers a collection of top pricing related conversations on LinkedIn or in the comments section of pricing related blogs and articles. What is Pricing News?THE source for pricing strategy and industry news, events, thought leadership articles, blogs, reports, academic papers, resources, quotes and cartoons.
We highly recommend SPA to other distributors looking to maintain solid profitability in a difficult economic environment.
Almost every woman who has little affordability goes to nearby beauty parlors for their beautification. While the impact was mitigated by the falling cost of fuel, volumes increased by a mere 2% – even with the transpacific windfall at the start of the year. The question then becomes when to introduce those increases, and how to handle decreases when, and if, necessary.
While this is not the first time for many distributors, unfortunately a good many sales managers have forgotten the lessons. Excerpts of the article authored by Frank E. It works as an additional interview scene appended to conjoint analysis and offers the respondents a dynamically generated sequence of product choices with assigned prices. And just 18% of photographers surveyed feel confident that they know how to price photography and their current photography prices are profitable. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies. The group offers a place to share the latest pricing strategy and technology, news, events, resources, thought leadership, and discuss the latest pricing related successes and failures in the news. We also share highlights from top pricing discussions and publish articles from pricing practitioners in our Pricer's Points blog series.
Things started late last year, when annual pass holders were hit with a roughly 15% increase for comparable passes. Our process provides for flexibility and discipline in pricing, to create a balance that works in your business.
Among them who are affluent, they go to some renowned beauty shops, which are situated in different region of Dhaka city. The customers indicate whether they would actually purchase the presented product profiles. Whether you’re selling a product or a service—you’ll have to put a price on what you’re selling at some point.
In early March a bill was introduced in the Senate, Forbidding Airlines from Imposing Ridiculous Fees (FAIR) Act. Learn to leverage and manage your pricing to dramatically increase your companyi??s value.
Some of the beauty conscious women travel a long way to go to their desired and proffered beauty shops. The name of our beauty parlor and spa is “Freya’s” having a tagline “Promise of Heavenly Beauty” As we are five persons who will invest so each of us will invest 11,50,000 BDT totaling 57,50,000 BDT. In our salon we will have TV, WiFi, Virtual Hair Style Display and also with refreshment services. Another reason to provide these things is to make customers feel that they are not waiting.  We will focus on several things in case of conducting the business like hygiene, quality and perfection.
So our salon name indicates the exceptional services and the tag line reflects our superior quality. We will have six types of employees and among them there will be 1 manager, 1 receptionist and cashier, 8 Operating Employees, 2 specialists, 1 security guard and 2 cleaners. Freya’s long-term objective is to increase the sales by 15% in 2nd year, 20% in 3rd year, 25% in 4th year, 30% in 5th year and 6th year considering 1st year as the base year. Based on percentage of sales method we have forecasted our income statements and balance sheet. Thus, we can say that our salon “Freya’s” has a very promising future.Business Plan of Freyas Beauty Saloon and SPACompany OverviewOur Beauty Saloon will serve an undeserved region of the inhabitants of Bashundhara and Baridhara, one of the most lucrative target markets of the city. We intend to be profitable by increasing our client base through becoming a highly sought after destination. It will be a partnership based company, formed by five individuals having equal share each.
Each of the partners of the company will be addressing a managerial role in the organization and will be working as a team to take any sorts of decision regarding the execution and development of the saloon.We will evaluate our target customers’ needs and expectations and work with them to customize the levels of Service for you based on your own individual needs to achieve the best results. Together, we will decide what the best look is for you so that you both feel comfortable, confident and satisfied that your needs will be met fully, skillfully and affordably.
We want to gain the customer satisfaction that our salon is the best choice to entrust with their everyday and one of the most important days of their lives.
We accept each visit of our customer as a serious undertaking and treat it as if it were our own.
If you want to be sure your physical soundness, relief, inner glow and beauty, Freya’s is going to provide perfect skills and expertise for you to ensure those needs. Whether you come in for a full day of spa or just to relax and enjoy with the pool of your friends – Freya is the place you need to hang around. Moreover, the reason behind providing this facility is we want to make our customers feel that they are not waiting.We will have Wi-Fi facility- our customers will be provided with Wi-Fi facility where they can check their e-mail and browse any website while waiting or while they are doing their beauty sessions. This segment of consumer especially the executives of GrameenPhone or the private university students need to go to either Gulshan or Banani for the parlor works and spa service. Strategic Goals and ObjectivesWe have divided our objectives based on timeframe, which are short-term and long -term objectives.


Details are given bellow –Short-term objectiveCapture a lucrative market share in the industry because it is important to become stable in the business cost-effectively.
Women are not only aware of their make-up or outlook but also getting sincere for making her inner glow prominent.
Not only a haircut or bridal make-up, beauty saloon became her beauty manager to the day-to-day life. Female portion, especially the younger generation can be seen mulling over the choices of facials they have, the options that they have with various types of haircuts. Their choices of beauty services are varying on their profession or their peer environment. Thus, beauty care along with spa service became a mandatory requirement for the fashionable and smart female of today.Beauty saloons in Bangladesh are a new pampering and entertaining concept that cater to haircuts -from the conventional to ultra funky, massages, manicures and all other grooming treatments.
These hair and facial treatments also help the consumers to take better care of their hair and skin to combat the effects of the pollution and dust of Dhaka.
Whatever the reason, women now care more about their personal hygiene and looks and thus saloons have come up with treatments to help them.Parlors such as La Belle, Persona, Farzana Shakil, Women’s world, Living Doll etc. Every now and then different saloons are sprouting up and popular magazines and newspapers are advertising the necessity for women to go there and look good.
Everything is about the company image.Many are also resorting to a potentially harmful process of beautification bleaching to lighten the skin tone. The main ingredients used are herbal and though there are some bleaching contents, the harm done to the skin is minimal, or so they claim. All the partners of our saloon have to submit an application for a trade license in order to operate this business.
This will take its toll on ready-made garment exports (which comprise around 75% of total exports).
Although the economy will benefit from lower commodity (especially oil) prices, the government’s high borrowing costs to finance the budget deficit could limit the scope for a sharp fall in inflation. The national economy has been gaining momentum recently.  The national unemployment rate has been hovering at a relatively low level for two years. On the divisional level, especially Dhaka and Chittagong continue to experience rapid expansion and prosperity.
As these regions accept many newcomers from the rust belt and other areas, it has become more business focused.
Business is booming in the grass root level.  The annual growth rates of new small businesses are soaring. Net job creation has advanced at a steady clip.  High technology areas have grown up in Dhaka, Rajshahi and Chittagong. Business organizations are increasingly adapting to the use of Internet than other time consuming modes of communication. We will have a website for our salon where the customers can get all the information easily.
Strategy is stated before.Ownership StructureEach of the owners has a 20% equity stake in the business. Each of the five members will actively participate in the general and strategic management of the consultation center.
As there are few good salons already in the market, so we need to do something different to attract the customers.Role of Government The government can take initiatives to promote and support saloon industry for the betterment of national what many foreign government does.
Industry SWOTAn analysis of the industry, in which “Freya’s” will operate, is presented below:StrengthsFreya’s will be providing well-known experts in beautification provider. Thus, threat of new entrants will be higher.Technology will be another threat for this type of industry. The conditions in which a product is sold changes over time and must be managed as it moves through its succession of stages.
The product life cycle goes through many phases, involves many professional disciplines, and requires many skills, tools and processes. Potential CustomersWe have created the group our potential customers in regional basis and on some other criteria. Our geographical target area in terms of the domestic market will be the inhabitants of Bashundhara & Baridhara. We will offer a quality service and the potential customer group is consists of the students of private universities, the employees of GrameenPhone and other corporate offices and the inhabitants of the region.Our potential customers are female portion from age of 6 years to 60 years. We will try to communicate the passionate teenagers, the progressive and professional female portion who are aware of their looks in a huge extent.In terms of income we are more interested towards the upper-middle income bracket and moderately high income bracket people, who have an average family income of Tk. Size and growth of the marketIf we consider over the social and economical structure of Bangladesh as described above in our PEST analysis, we can see that our potential market is growing. The social factors and busy life of the people of this age group and income will attract them towards our training centre. If we look closely to the population structure we will see that the middle class has is the biggest but upper middle class and upper-class will spend a large amount of money for haircuts and other beautification purpose.
As according to the analysis, twenty percent of best customers are the provider of eighty percent of profit. The demographic condition of Bangladesh comprises mainly middle class people and the GDP growth rate over the year is increasing in a positive way, which gives the industry a greater prospective market. The cheap labor cost of Bangladeshi labor gives the industry a competitive position over other services.From the above analysis we can say that our market is growing enormously and we have many options to utilize this opportunities and increase our customer base.
Our targeted consumers are frustrated with busy and stuck traffic and they need to have a quality saloon and spa centre in their hand’s reach. Women’s World offers their services at a higher price than Farzana Shakil but they are providing a bit low quality services than them. Again, they are less customer oriented than Farzana Shakil and provides less differentiation than persona.
They are moderately devoted to the customer focus, so they provide lower differentiation of services.
As it is the cheapest that’s why they are unable to provide benchmark service quality to their customers. Again, they are less customer focused and because of charging comparatively low service price that’s why it provides lower differentiation of services.
Our saloon is going to offer exclusive and quality service that’s why we are going to charge a bit higher market price.
We want to attract those peoples who get their beatification from different branded parlor. To keep this segment we have to be more customer focused also have to provide the higher differentiation of services. As a result, first of all we would be hiring very efficient and experienced beauticians for our saloon. We would be delivering high quality service; therefore we will be charging moderately high price so that we can keep up with our target customers.


As our customer base increases due to superior quality services and differentiated techniques of advertising, our salon will be able to keep per unit cost down and thus achieve economies of scale.Employee TrainingIn our hair saloon beauticians are a major input in providing the promised service.
Those who are highly skilled and multi skilled can perform tasks faster and more accurately than individuals with lesser skills.
With a personal touch, we’ll get to know our clients every need, and apply the best suited technique and style for them. Moreover, the waiting room of the saloon will have a large LCD monitor, music jukebox, magazines, newspapers and light fast food corner so that customer can relaxed in the waiting room. When a client leaves our business with a new look, he or she is broadcasting our name and quality to the public.
One research has shown that word of mouth is the best advertising for this type of business. Therefore we want to achieve superior responsiveness to clients and for that our salon would need to provide the clients with what they want and when they want it.
This would send a clear message to the managers and beauticians and other employees about the desired focus.
We would drill it into all our employees to see the customer as the focus of their activity. Beauticians would be trained to put themselves in customer’s shoes to be better able to identify ways to improve the quality of a beautician’s experience with the hair salon.
This feat would be achieved by listening to what the clients have to say and bring in their opinions by soliciting feedback from clients on the services and building information systems that communicate the feedback to the relevant people.Satisfying Customer NeedsWe would try to customize our services by differentiating our services through customization and reduced response time. We will use a data base system to develop an information page customized for each individual client, so that we can send information about new styles, new offering and many more to the customers immediately.
We would also try to incorporate customization in service packages by designing them as per customer specification. The speed of response in our business would be meet clients’ demands as quickly as possible. We would hire the best beauticians and spa experts possible to ensure that clients have the service which they are interested in as early as possible. For our industry we will be following a strategy to play the game, which is known as look forward and reason back before implementing the strategy.  This strategy is very important to us because we face risk in every move we make. So whatever strategy we choose we have to understand the strategy first and the chances of implementing the strategy in a proper way that will result in having a positive effect on the market and will benefit the saloon. We have managed to create a posh outlook, a clean place and a luxurious environment where our clients can get the total beauty-care experience.
The design of the hair saloon is done in such a way that it facilitates each of our activities.
The waiting room is delicately designed, so that our customers can get the full advantage of relaxation. They have been trained from foreign beauty experts to facilitate our unique hair cutting procedure. They are multi skilled in a sense that a single beautician is capable to train a number of employees. The major changes will be the change in hair cutting instruments, equipments for cutting, grooming, and spa instruments.
That will obviously enhance the sale and also it will create our brand as the most genuine one. We have already identified one slogan for “Freya’s” brand as we all know just after the brand itself it plays the most vital role in the market for maximizing the profit. The slogan is “Promise of Heavenly beauty”.Certainly, we will create awareness through our brand name that wherever you go doesn’t matter but come here and check out the combination of quality and the convenience together.
We will not only give our customer beauty treatment but also will give them a way to stress out their tiredness through spa. If brand keeps a far way from our target consumers they will be unwilling to come here to buy their desired product unless the brand is close to their mind. As we are a start-up company, we should market our services in a systematic manner to grab total attention of out targeted segment. If we can’t target the market in a proper way then it will be only normal brand and nothing else which will hamper our overall purpose of the brand.Our main target is establishing our brand in our targeted segment’s mind through proper marketing strategy. An explicit Market Strategy will allow us to grow rapidly a have higher market share, which will eventually fulfill our objective. As we have already said that we will be providing ultimate services and can be standardized as “world class” art of beauty segment in every woman’s mind. Therefore in order to achieve the company’s objectives we need to analyze the 8P’s at first.Product ElementsThe product of our business is that we are offering is the core service of “Freya’s”. We would be always on the lookout for new and invest in R&D to replace existing ones that has lost customers interest and search for better ways of training the  to trainees.
Besides this, our promotion will make sure that we are providing the equal amount of effort to helping customers to brush their personality and look. Place and TimeTo select the location where the service will be provided and where the whole operation will be performed is very important in terms of customer’s ease.
Place or location makes a lot difference in order to become successful and more popular in the view of the customers. We have selected the in a prime location of Dhaka city which is in Bashundhara Residential Area.
We will rent a 3,000 square feet shop in a commercial building just beside the International school of Dhaka. The reason for this selection is because we have identified that Bashundhara currently became one of the busy areas and there is not a single beauty parlor here. We already have near about 10000 customers from North South University and a huge portion of customers who are permanent resident of Bashundhara, guardians and female teachers of ISD and Play Plane School. Another reason behind choosing this location is from next month Independent University of Bangladesh will starts its classes in their own campus of Bashundhara.
Besides, GrameenPhone will shift its major portion of employees to it’s headquarter which is in Bashundhara.
Moreover, we are going to get a huge number of quality customers for our Freya’s.Price and other user outlaysPrice is the driving factor in terms of profit margin. It is determined by a number of factors including market share, competition, material costs, product identity and the customer’s perceived value of the product. Therefore in order to sustain in the market place we need to maintain an effective pricing strategy, by which we can achieve a break-even as early as possible and on the other hand we can compete and transfer value to our customers as well.



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