Nt Nails Salon and Spa Marketing Plan

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NT Nails Salon and Spa

Marketing Plan

Huong Tran

MBA 652-T305

Professor: Kim lynch

Bellevue University

Jan 8, 2015

Table of Contents

Executive Summary

Situation Analysis

-----Internal Environment

-----Customer Environment

-----External Environment

-Competition

SWOT Analysis

----SWOT Matrix

----Developing a Competitive Advantage

----Developing A strategic Focus

Marketing Goals and Objectives

Marketing Strategy

Primary Target Market

Secondary Target Market

Product Strategy

Pricing Strategy

Integrate Marketing Communication (Promotion) Strategy

Marketing Implementation

Tactical Marketing Activities

Cultural and Structural Issue

Evaluation and control

Resources

1. Executive Summary

NT Nails Salon  is one of the top Nails salons located in Midtown crossing in Downtown Omaha.  NT Nail Salon is considered to be one of a leader in the beauty industry in Omaha.  It is the most sophisticated, safest, cleanest number one service, and best product nails salon in Omaha Nebraska. NT Nails Salon  is a family owned business and operated to provide a variety of nail service for men, women, and children from manicures and acrylics to pedicures and other related services, salon dedicated to consistently providing high customer satisfaction by rendering excellent service, quality product, and furnishing an enjoyable atmosphere at an acceptable price and value relationship. NT nails Salon uses only the finest products and show clients the right product and techniques to keep their nails looking vibrant and healthy all the times. NT nails salon always puts the health and safety to be top priority and also maintains a friendly, fair, and creative work environment, which respects diversity, ideas, and hard work.   NT nails always make sure each and everyday client walks out the door feeling and looking good.  

Midtown’s neighborhoods were among the first created in Omaha and, today, are home to over 27,000 residents, a blend of every demographic found in the city.  Several of Omaha’s bedrock institutions are also based in Midtown, including three Fortune 500 headquarters  (Kiewit Corporation, Mutual of Omaha, and Berkshine Hathway).  And two world-renowned academic and healthcare institutions (The University of Nebraska and Nebraska Medical Center and Creighton University and Creighton Medical Center).   This location generates more opportunities to NT nails and Spa.  But there are many major competitors salons in Omaha area bring more threats to survival salon.  American and Martini Nails Salons are its top strong competitors. In the past Community of Vietnamese nail industry in the United State was formed and flourished, turned the beauty industry, which was only for the wealthy in the past, become a service that everyone is able to take effect, people from middle to modest income, young and old have the opportunity to do nails because affordable.  In the early 1970s, if you wanted to get your nails done, it cost you about $60 to $ 100, many middle class people had to save quite a bit to get their nails done for special occasions such as wedding, birthday or important parties.  At the present time, Vietnamese people dominated this market; the nails price began to fall down.  The Nail industry is faced with challenging period, it starts to waver in this sector, the innovation in this business practice is needed.  

After considering all these factors, I decided to make marketing Plan for NT Nails Salon to enhance their revenue with satisfied customers and to provide better quality service than competitors.  The goal of the marketing plan for 2015 is to establish a clear plan of action to grasp as many people’s attention as possible to increase the revenue for the Salon.   The owner has established a sales volume increase goal of 15%   over 2015 and a goal of securing 500 new reward card members, in addition to retain the current 800 members.  To support this gold marketing activity must increase foot traffic into the Salon and community awareness of the Salon ‘s offering.  The recent store expansion provides exciting new opportunities for the development of the cooperative and examining the strengths to be leveraged and developed will be critical.  

Mission statement

Vision

The vision of NT Nails is “To become a leader of the Omaha beauty, cultural industry”

Mission

The mission of NT Nails Salon is to Upgrade the living standard of customers by proving high quality service in affordable price & enhance the strong relationship among customers by treating them in a friendly manner to get their loyalty.  

II. Situation Analysis

As an initial step in the marketing plan for the NT nails Salon I try to identify the background of the Salon.  By analyzing the product life cycle I identify that they are still in the growth stage.  They have big competition from surrounding and have to implement few marketing strategies for their growth.  They have grabbed about 35 percent of market share and 7percent growth in sales when comparing with the previous year 2013.  

They have segmented their market into 5 aspects like children, teens, young ladies & adult woman, and men to provide various services like waxing, facial, pedicure, and manicure and so on with the purpose of treating their customers in a better manner.  They have higher demand from Young ladies, and  adult women when comparing to other segments. In 2015 they hope to increase their revenue by 15 percent  from new customers and retain the sales volume from  existing customers and attract more new customers.  

Internal environment

        In previous years, NT nails Salon primary focus has been funding the expansion of the Salon.  With the expansion complete, the cooperative must focus on increasing sales volume to provide the necessary revenue to support the larger space and increasing offerings.  Advertising and Social networking continue to be effective tools for communication special events, sales, seasonal offerings.   Projected sales growth for 2015 is 15%, as the cooperative capitalizes on the expanded offerings in the new space and the anticipated continue to grow.   The owner needs to assure that marketing activities support these ideals.  

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