The characterization of a person as “beautiful”, whether on an individual basis or by community consensus, is often based on some combination of inner beauty, which includes psychological factors such as personality, intelligence, grace, politeness, charisma, integrity, congruence and elegance, and outer beauty (i.e. physical attractiveness) which includes physical attributes which are valued on an aesthetic basis.
Standards of beauty have changed over time, based on changing cultural values. Historically, paintings show a wide range of different standards for beauty. However, humans who are relatively young, with smooth skin, well-proportioned bodies, and regular features, have traditionally been considered the most beautiful throughout history.
A strong indicator of physical beauty is "averageness". When images of human faces are averaged together to form a composite image, they become progressively closer to the "ideal" image and are perceived as more attractive. This was first noticed in 1883, when Francis Galton overlaid photographic composite images of the faces of vegetarians and criminals to see if there was a typical facial appearance for each. When doing this, he noticed that the composite images were more attractive compared to any of the individual images. Researchers have replicated the result under more controlled conditions and found that the computer-generated, mathematical average of a series of faces is rated more favorably than individual faces. It is argued that it is evolutionarily advantageous that sexual creatures are attracted to mates who possess predominantly common or average features, because it suggests the absence of genetic or acquired defects. There is also evidence that a preference for beautiful faces emerges early in infancy, and is probably innate, and that the rules by which attractiveness is established are similar across different genders and cultures.
Posh Salon will face numerous challenges. One of the challenges relates to developing unique services/products that will be personalised in accordance to the desires of customers. Customers do not want to feel that what they thought was a unique or personalised style is with another one thousand customers on the streets. Another challenge can be the time that is designated for our clients, we do not want anyone coming in waiting on their stylist therefore we will have a given time set for each of our clients plus leisure time to discuss their experience as well as the after care of their services thereafter.
What forces in the macroenvironment need to be considered?
Since the business aims at specialising in personalised services, cost control will be fundamental. The management has to offer services at process that will keep the clients coming back while attracting new clients. The management aims at giving the clients a salon experience that will be equal to no other at a competitive pricing, attracting current and future clients. Even with the economy drop, hair salons will always thrive, its recession proof! Women as well as men will always need to maintain their looks and feel good even if it means buying less pairs of shoes each week.
What are the company's capabilities?
Posh Salon will be able to give customers their own service specialists and make styles/designs that are in accordance to the customer's desire and request. The business has very creative and innovative employees that withhold licenses in their specific field such as cosmetologist, skin care specialist, nail technicians, as well as spray tan technicians. Posh Salon is willing to bring the service to the clients. They can have their hair, nails, spay tans, lashes, makeup or therapy done from the comfort of their homes or offices at no extra cost. This will be done electronically, and we will have certain beauticians that will be available on certain days to fulfil our clients' needs and wants.
2.1 Market Summary
How would you define the market?
The beauty industry is one of the most thriving industries not only in the country, but also across the globe. This is mainly, because women are known to pursue good looks more than men. Moreover, modern hair salons focus on offering services to both men and women. The industry is bound by strict rules and regulations especially on licensing or health and safety issues (Mokotoff, 2010). Specifically, this Posh Salon will target all people, but focuses, in a special way, on the middle class working professionals. Also, it recognizes the fact that there is stiff competition in the industry. However, the main players are devoid of bringing out the best out of a client's hair. This business seeks to focus on perfection of service delivery for a wonderful customer experience. The revenue retrieved from this industry is dependent on a business' ability to attract customers and retain them.
How big is the market?
The business will part of other 1.2 million dollar hair industry in the world. . The market generates approximately $50 billion per annum according to a report released in 2014 as noted from IBIS world. Although the market was affected during the economic industry, it has quickly recovered. The most thriving businesses are in nails, hairs and beauty products. Nevertheless, the business' chances of survival are as many as its chances of failure.
The market share for Posh Salon will, however, increase because of specialized services and products that will be unique for the salon. The salon is aiming at ensuring that it copes with the challenge of offering similar services or doing styles similar to other salons for this will chase away their clients. People normally like unique styles. In addition, risk measures need to be in place to ensure that the market share for Posh Salon does not deteriorate but rather increase. For example, diversification of the beauty products sold in the salon will increase its market size as compared to its competitors. This will be done by Posh Salon's panel of experts, which contains highly skilled and knowledgeable personnel in the field of business.