Summary Content |
We decided to open a beauty salon in sity Rietavas of Lithuania because, after researching our competitors and potential clients, we discovered that there was a sufficient market in the area for a new beauty salon that provided high-quality and affordable services. We found that our beauty salon's strongest competitor is Rietavas on Plunges Street, as it offers a wide range of products and utilizes all four promotional elements. Weaker competitors include Rietavas on Zemaitės and Laisvės Streets, as they offer a narrow range of services and utilize only three promotional elements: advertising, personal selling, and sales promotion. We also found that the monthly income of most Antakalnis residents ranges from €735 to €1,180, so the services we provide will be affordable for most clients. Therefore, beauty salons in Antakalnis do not have strong competitors, so our newly established modern company will attract a lot of attention from customers, as it will strive to outperform its competitors – it will implement all four elements of promotion, expand the range of beauty salon services and set prices for services that correspond to quality.
Competitor analysis
Nr. | Type of analysis | |||
1. | Real address | Rietavas, Plunges str. | Rietavas, Zemaites str. | Laisvės str. 1 |
2. | Company size | Small | Small | Very small |
3. | Range of services | Wide | Narrow | Narrow |
4. | Prices | High | Middle | Middle |
5. | Belonging | One | One | One |
6. | Promotion elements: | |||
| Advertising Personal selling Sales promotion methods Public relations | + + + + | + + + - | + + + - | |
7. | Competitor assessment | Strong competitor | Weak competitor | Weak competitor |
We will be applying the product foring concept because we will focus all our efforts on improving the quality of our services to achieve our goals. We will allocate a significant portion of our resources to various courses and seminars aimed at improving employee skills and motivation. We will also be applying this concept because demand for beauty salon services in Rietavas, Lithuania exceeds supply, and the quality of services provided by competitors is insufficient.
The company will provide services directly, as it does not hold inventory, so the services of wholesalers, retailers, or industrial distributors are not required. Clients will come to the beauty salon themselves, and close personal interaction between service provider and consumer will prevail.
Our salon's services will be priced using a cost-based pricing method. Because the salon is modern and uses the highest quality products and tools, our prices are reasonable.
We will apply the following pricing strategies:
1. Value-based pricing strategy: When setting prices, we will determine how our service compares of clients in terms of price and quality.
2. Skimming strategy – at the initial stage, when our beauty salon is just opening, we set a little price, which is rise as our market share expands.
3. The final price is a psychological pricing. Prices for services will be rounded.
4. Competitor-Based Pricing Strategy: We will evaluate the prices of similar products from competitors and set prices accordingly.
In today's highly competitive environment, advertising is essential for companies, as competitors' relatively similar services make it difficult to attract potential clients and retain existing ones. Our company, GrazuteRoom, will utilize all four elements of sponsorship: creating an attractive company image by advertising the beauty salon and its services in the press, promoting sales and maintaining public relations through the use of media outlets, and publishing detailed information about the company's activities on a dedicated website, where the company will provide specific information about the services provided, the cosmetics used, and any promotions it runs.
Advertising elements and measures Nr. | Advestising elements | Adventising measures |
1. | Advertising in a press | In the magazine "Constantine", advertising brochures in the magazine "GrazuteRoom", blogger Konstantin Korenevskiy and our the game dating portal. |
2. | Sales promotion | The online store will offer customers the opportunity to participate in castings, shows, competitions, partfolio production, and discounts on services provided for various occasions. |
3. | Personal selling | Advertising of service from competent specialists. |
4. | Public relations | Our internet resurses https://von-constantine-fr.blogspot.com/2025/07/constantine-1.html?m=1 Rietavas.htm |
Summary Content |
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