During the 15th and 16th centuries, European men wore their hair cropped no longer than shoulder-length, with very fashionable men wearing bangs or fringes. In Italy it was common for men to dye their hair. In the early 17th century male hairstyles grew longer, with waves or curls being considered desirable in upper-class European men.
The male wig was supposedly pioneered by King Louis XIII of France (1601–1643) in 1624 when he had prematurely begun to bald. This fashion was largely promoted by his son and successor Louis XIV of France (1638–1715) that contributed to its spread in European and European-influenced countries. The beard had been in a long decline and now disappeared among the upper classes.
Perukes or periwigs for men were introduced into the English-speaking world with other French styles when Charles II was restored to the throne in 1660, following a lengthy exile in France. These wigs were shoulder-length or longer, imitating the long hair that had become fashionable among men since the 1620s. Their use soon became popular in the English court. The London diarist Samuel Pepys recorded the day in 1665 that a barber had shaved his head and that he tried on his new periwig for the first time, but in a year of plague he was uneasy about wearing it:
What is the Mission of your Business?
As for the mission of Posh Salon, it is necessary to outline that this organization is striving for satisfaction of customers' needs to look uniquely and stylish. Therefore, the organization values a personal approach to every single customer. In such way, the preferences of customers are combined with a professional advice of Posh Salon employees. Likewise, every single aspect of the organization is particularly focused on the customer's satisfaction. As a result, the organization provides a comfortable location on the Wall Street. It is a quiet place at a nosy street, where the customers will be able to feel the atmosphere of private attention and their uniqueness of style. Eventually, it is the main statement regarding the mission of Posh Salon.
Who is your customer?
As it has been mentioned in the previous sections, the target audience of Posh Salon is businessmen from the Wall Street, which always need to look stylish. Doubtless, the location of the organization can be explained by the target audience, it is worth saying that just average people may be also interested in the services of Posh Salon due to its uniqueness and discount programs. Still, it should be noted that the target segment is expected to be mainly comprised by women above the age of 30. One may argue that Wall Street offices are mainly employed by males, but it is not necessarily true. Furthermore, the female employees will visit Posh Salon in order to emphasize on their location on Wall Street.
What is Value to the Customer?
Having considered the previous point, it is important to note that it actually modifies the customer value. In other words, customers, who actually work at the Wall Street, will visit Posh Salon because it is located close to their place of work and renders the idea of their belonging to the sphere of business. As for other customers, they will value location of the organization as well because a hairstyle, which has been made in the salon on the Wall Street, implies the message of uniqueness. Though, it is to be mentioned that first of all the organization is supposed to satisfy needs and expectations of the customers by proving services of a high quality (Duchessi, 2002, p.2).
3.2. Marketing Objectives
As for marketing objectives of the organization, it should be noted that they are related to the market and services only (McDonald & Wilson, 2011, p.46). Taking this point into consideration, Posh Salon is going to achieve the following objectives. First of all, it is important to obtain a certain position at the market. For the first six months only 4% of the market share will be appropriate due to the peculiar features of the organization. Then, it is necessary to create a dedicated team of professionals, who will provide the customers with quality services. Further, the advertising campaign has to be launched in order to create public relations and inform the customers about the organization entering the market.
What is more, the quality of earnings is expected to be increased. As a result, the organization will receive the opportunity to resist the changes within the stock market. Subsequently, the organization has to initiate preliminary prices with potential partners in order to follow the random walk model. This objective has to be met in five years.
3.3. Financial Objectives
As for financial objectives, it is worth saying that the organization does not intend to receive large incomes for the 1st year. It can be explained by the fact that the organization will need to orient itself within the market. Therefore, risk management model is not applicable to marketing strategy of Posh Salon. Then, Posh Salon needs to reduce the costs in order to achieve positive correlation between costs and actual profits. In such way, the organization will not put its performance at risk and obtain larger market share due to the increase of its value. This objective should be met in 3 years.
What is more, the quality of earnings is expected to be increased. As a result, the organization will receive the opportunity to resist the changes within the stock market. It can be explained by the fact that the organization positions itself in quite unusual way that is why it has to escape the market. Hence, numerous preliminary purchases should be arranged in 5 years in order to get Posh Salon ready for performance in terms of a random walk model.
3.4 Target Market
What General Strategy will be used to Reach Target Market?
As the organization is going to follow the customer-driven marketing model, it is to be said that the general strategy will take into account the same considerations. Hence, the organization will suggest initially reasonable prices for such area as Wall Street. In a like manner, the discount program will be developed for regular customers. In addition, numerous temporary discounts will be arranged. What is more, Posh Salon will organize several public presentations in order to advertise itself and make the related publicity aware of the emerged service nearby. On the contrary, it is important to note that fulfilment of this strategy has to be underpinned by excellent performance of hired professionals. Otherwise, Posh Salon will face a considerable loss.
Needs/Benefits Sought by the Market
In fact, needs and benefits, which Posh Salon is seeking to, are quite simple. At first, the organization strives for obtaining an original segment of business. In other words, it is quite reasonable to place a salon on Wall Street, which is known to be the street of offices and business centers. Then, the organization attempts to benefit at the quite competitive market of New York City by achievement of the previous goal. Eventually, it should be admitted that the organization needs to obtain an unusual place at the local market in order to make significant profits. Though, it is important to note that the quality of provided services is supposed to be excellent. Thus, it is necessary to discuss it in a more specific way.
Speaking about the services of Posh Salon from the perspective of their usage, it is important to admit that these services are primarily focused on the satisfaction of the customers' need to look stylish. Therefore, the services do not imply any empirical appliance but creation of an image and hairstyle, which a customer will prefer. In such way, the customer-driven marketing model will be embodied. What is more, these services will be hard to compete due to absence of a particular standard or pattern, which the organization regards as a template for its entire performance. All in all, Posh Salon does not position its services as extremely necessary for its customers but regards them as the unique services, which are not available for everyone.
It is needless to say that a reasonable positioning of the product means guaranteed marketing success (Zahid, 2013, p.51). Therefore, Posh Salon positions its services as custom salon services for business people. In such a way, the organization expects workers from Wall Street to be regular visitors of Posh Salon. Doubtless, such positioning is the most appropriate in this case, especially with regard to location of the organization. On the contrary, it is worth mentioning that the other people are also expected to visit Posh Salon. Taking this point into account, it should be admitted that the organization emphasizes on uniqueness of its services. In other words, Posh Salon states that every single customer will receive a special attention without any respect to social class he or she belongs to.
Consumer/Business Purchasing Process (Decision-Making)
It is increasingly hard to ignore the fact that the majority of the target customers will consider a suitable location of Posh Salon. Businessmen are known to be busy people so that they may not have enough time to visit a salon in an area, which is not close to their place of work. Thus, they will be able to visit the salon on their way to work or vice versa. That is why Posh Salon is going to work long hours up to 10 p.m. As for the other customers, many of them will prefer to have a custom hairstyle in order not to look like other people of their surroundings. Actually, it is two main points regarding the decision-making process of the potential customers.
Market Size Estimates
As Wall Street is a famous place in New York City, it is important to note that tourists comprised a notable part of its population. Hence, it should be admitted that the organization is expected to meet a lot of customers with a wide range of preferences. In contrast, it is worth mentioning that the organization is supposed to provide qualitative services so that the primary needs of customers are satisfied. Moreover, the local market is quite competitive that is why excellent performance of professionals is a compulsory requirement for success of Posh Salon.