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Enterprise and Entrepreneurial Management - Essay Example

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Yankee Clippers A Revolution in Hair Care BY YOU YOUR SCHOOL INFO HERE DATE HERE Yankee Clippers: A Business Plan 1. Introduction Yankee Clippers is a sole trader business concept, falling under the Class 2 NIC income tax rate; the personal taxation rate of between 20 and 28 percent dependent upon total annual net income…
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Enterprise and Entrepreneurial Management
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Download file to see previous pages Yankee Clippers is a revolutionary innovation in men’s grooming, providing a variety of beauty services and products to the male clientele. The target market is the youthful male consumer, between ages 16 and 35, a market segment with the most revenue earnings potential for this business concept due to specific market characteristics, socio-economic demographics, and lifestyle relevancy associated with this brand concept. Outside of the traditional hairstyling service dimension, Yankee Clippers will offer consultation services, skin peeling and bleaching, and provide in-house merchandising talent as part of the sales model to generate more direct salesmanship and higher profitability through product sales commitments achieved with in-store patrons. Consultation services for men seeking beauty enhancement will generally occur via appointment in which 30-minute or 60-minute consultations will be contracted. The essential brand philosophy of Yankee Clippers (the organisational mission) is that men will benefit from taking more proactive responsibility for grooming and beauty, offering consumers social competitive advantage through Yankee Clippers expert beauty systems operational model. Yankee Clippers will offer top-quality beauty and grooming products along a moderate pricing structure, procured from a variety of top-known beauty brands catering to the male consumer. The main branding goal of the organisation is establishment of service quality and product quality, which will ultimately provide justification for a premium service and sales model for the discriminating client in which beauty and grooming are significant lifestyle attributes and needs. Unlike other competition in this market, Yankee Clippers will differentiate through talent management modelling internally, exclusivity, and choice related to the premium positioning strategy. The beauty industry for men is growing explosively, providing excellent market opportunity so long as Yankee Clippers develops a strong emphasis on the marketing and promotional functions. In 1998, 42 billion USD were spent in salons (Hairstyles-7.com 2004). By 2004, nearly seven billion USD were spent on colouring treatments, hairsprays, shampoos, conditioners, and other relevant grooming products (Hairstyles-7.com 2004). This represents a significant market opportunity that continues to expand as more men become cognizant of the importance of grooming for social and professional growth. In 2010, as one example, L’Oreal experienced a 30 percent increase in sales revenue stemming from male grooming product sales (CBS Chicago 2011). The international and domestic sales markets for male grooming products continues to predict ongoing sales growth, in which Yankee Clippers believes it will be able to successfully capitalise to gain a prominent male-oriented, consumer-centric beauty business brand with superior competitive advantage in the local market. 2. Description of the business Brand recognition and the pursuit of establishing brand loyalty and brand equity are the primary drivers of the Yankee Clippers marketing and sales model. In the UK, Yankee Clippers maintains minimal competition for male-centric beauty services, thus giving the business a competitive advantage immediately after launch. Marketing theory provides research-supported knowledge that brand loyalty is a product of companies that are ...Download file to see next pagesRead More
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