Weave It Wigs Marketing Analysis Paper Example

Introduction

Weave it wigs is an online shop run by Weave it Wig Co. The online shop deals with the sale of hair wigs or weaves. The wigs are imported from China. We offer a wide range of wigs and hair care products, jewellery and other accessories. The varieties that are imported are synthetic hair wig and eyelashes. The business uses an online domain, www.weaveitwig.com to make its sales. Weave it wigs is, therefore, an online shop that sells the best wigs in the United States.

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Mission Statement

To serve our clients with high integrity by promoting loyalty and to give our customers outstanding service with a happy attitude and pocket-friendly. The name of the company is Weave it Wigs. Logo

The following is a logo design for Weave it Wigs:

Product and Services

Weave It Wigs range of products will be human hair, African-American wig, synthetic wigs, lace wigs, short wigs, medium wigs, long wigs, and celebrity wigs. It will also deal in lace front, classic, petite, elderly lady, grey wigs, U Part wigs, Accessories, Sale, new wigs, young fashion wig, monofilament, lace front colorful wigs, 360 lace wigs and many more. They will come with variable lengths, styles and materials.

Why Weave It Wig?

The products offered by Weave It Wigs enrich the life and also nurture the spirit of the client with the command of nature and splendour covered by Weave It mission. The online platform is also easy to use with the effective payment system. The company will do the delivery as soon as you click the button. They provide consultancy services on the best wig to purchase that is suitable for our clients.

Target Market and Segmentation

For effective marketing, it is very important to consider segmentation. The success of Weave It Wig depends on segmenting as it attempts to find its target market. Marketing strategy, therefore, should be appealing to the audience just the same way it does in an offline environment. The US population census of 2010 reported that 308.7 million people live in the United States. There was a 9.7% population increase. 50.8% of the population is females and 76% of the total population is over eighteen years according to U.S. Census Bureau (Barnes 2010). Weave it Wigs majorly targets the female individuals in this population. The underlying need of the female population is assumed to be the same, meaning, being treated with respect and dignity and to appear beautiful. This is what Weave It Wig aims to achieve. The market segment therefore includes:

• Cancer Patients- The presence of Weave It Wigs will be announced to the doctors, patients and therapists at the cancer centres to alert the patients that Weave It Wig is offering to help them maintain a sense of normalcy and belonging.
• Female hair loss- a large number of American women are victims of the effects of hair loss. Weave It Wig will come in to help them regain identity by selling the wigs to them.
• Hair Salon Clients-females go to the salon more often. They will be the major consumers of Weave It Wig products.

Marketing Strategy

The marketing strategy for Weave It Wig will utilize mostly online platforms. The company will use social networking platforms to market its products. A bio will be linked in all these forums. Similarly, a social media tab will also set on the website to link it with these platforms. The company will be sponsoring Ads on these social media platforms and other websites. Ads will also be attached to YouTube videos in order to market the website. On the same note, Weave It Wigs will sponsor Search Engine Marketing (S.E.M) and Search Engine Optimization (S.E.O) to make the website appear at the top when people search for wigs on search engine platforms such as Google. If the company records a steady growth in terms of its financial bases, in future, it will be organizing events to help people know more about the online wig website. Wig products will, therefore, be marketed globally since it is an online shop. However, shipping costs will be incurred to the clients outside the United States. There will be frequent sales promotions to clients. Other strategies will involve up-selling and cross-selling

Competition

A market analysis of other online platforms selling wigs will be conducted. This will help Weave It Wig to identify the strengths and weaknesses of these online shops. Weave it Wig will build on these strengths and work on the weaknesses. Weave It Wig will be in a position to take pleasure in offering the best, imported high-quality wigs. Unlike the typical wig shops, our online shop not only wigs but also products that are used for hair health and consultancy services. Our website will have a help portal for an instant chat with clients. We will also develop a mobile app to help clients access our range of products easily. This app will be available on Google Play and Apple store platforms. Therefore, competition will be from other online beauty shops, local hair and beauty shops, beauty salons and hair replacement businesses.

Break Even Analysis and Pricing

For the break-even of Weave It Wigs, there is a general assumption that running costs will be rent for a warehouse, utilities and other running costs. Our pricing will slightly be lower than others in the market but this will be at our affordable loss and break even.

Conclusion

In conclusion, Weave it Wig will be a unique business because it will enhance good customer relations, on-time deliveries, offering quality wigs at affordable prices. The business will also maintain a good reputation with new and existing clientele. Customer satisfaction will also be enhanced. As a result, this will, therefore, be an online shop that is committed to providing best affordable hair wigs and education on hair care along with other good services.

Reference

Barnes, J. S. (2010). Asian population: 2000: Census 2000 brief. DIANE Publishing.