K. 1 Page Business Plan
Overview
K. has a clear business objective to develop, produce, promote and distribute beauty and wardrobe products and services. These products and services have been in conception over 6 months with a core focus on addressing the key customer needs and provide innovative experiences.
The Business Objectives
A key component of our growth strategy is to identify and outline our business objectives, and align these objectives with clear and measurable developmental milestones. Our key long term business objective is to gain profitability but not at the "expense" of the consumer. Customer acquisition would be the a critical step in achieving our goal. We understand that customer growth could be at the expense of profitability, in the beginning, due to marketing expenses and other costs but if we achieve a steady consumer base, we will begin to see more benefits. I also plan to lower marketing cost by using new and innovative techniques. Our long term objective of gaining profitability without sacrificing our customers satisfaction will be achieved by making sure all of our customers leave feeling better than they did when they came in.
The Customer
K. has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have attributed the key customer problem to be the fact that many women are unsure or unaware of how to properly dress their age and shape while still looking beautiful and appropriate. Some our also intimidated by the shopping experience and atmosphere. There are also women who have been wearing the wrong shade and color of makeup and have never even sat down and been properly consulted. This is a critical issue for our selected target market of young urban professional women.
The Value Proposition
K. is uniquely positioned to deliver value to young urban women. "K. will provide an unmitigated experience that will rethink the way you have viewed style, beauty and shopping in the past.." In order to be deliver on this value proposition, we I create a unique method for each customer that analyzes her needs and works with her to meet each one and ensure she has a comfortable, opinion-changing experience.. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the beauty and wardrobe market. We consider our key competitors to be: any company that provides the services we provide, be it, department stores, beauty bars and styling firms. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with any company that provides the services we provide, be it, department stores, beauty bars and styling firms by making sure our customers feel secure when they shop with us. Women are more likely to spend time and money when they feel comfortable and welcome.
Key Strategies
Over the next 6 months our focus will be to execute new and innovative marketing strategies to capture potential consumers attention. Once customers are attained, establish a loyalty program, as these have been proven to keep customers coming back. This task will be undertaken in the context of our broader strategy to begin introducing custom products and services for loyal customers. This should also increase loyalty membership numbers because of the added benefit. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Obtain 100 loyal customers, launch new services and launch new products.
About this document
Beauty and Wardrobe Business Plan
This document was created by Kaylah of K. using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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