Professional Documents
Culture Documents
SITUATION ANALYSIS
HISTORY OF THE PRODUCT
ABX Human Hair COMPANY dedicates itself to providing high quality
human hair products for those who are seeking quality human hair to
enhance their looks. It was founded in 1982 as Experia hair product but
with its change of leadership from Mr Lakuwe to Mr Obinna as the
executive director in 1992, the name was changed from Experia hair
product to ABX hair company.
ABX hair company sells a wide range of hair products, brazillian, indian,
Peruvian, Malaysian, Cambodian, Mongolian, European , Chinese hair
weaves and all kinds of human hair full lace and front lace in all lengths,
styles and colours. All the above hair weaves are 100% pure remi human
hair products that come with cuticles intact, every stand of hair arranged
in same direction, so there is virtually no tangling or matting. The virgin
hair could be permed or dyed. They are incredibly versatile and long
lasting which means there is no need to treat any different
from customers own hair. We also have lace wig, ponytail, clip-on
extension etc, they are products with same texture of hair but arranged
in different way to suit customers preference.
ABX hair company provide quality hair along with top lines of beauty
products. 2012 annual turnover of ABX was 53 million Naira , and
experts project it could reach 80 million Naira in 2014.
Our target market will respond well to these features and find it easy to
join the ABX hair extension craze.
SWOT ANALYSIS OF ABX HAIR COMPANY
STRENGTH: With great power in hair line, one of the greatest strength
of the product is its mission to provide the highest grade hair extensions
and wigs that cater to your individual style at the most affordable prices.
The company also accepts various payment ways such as Paypal, T/T,
Credit Card, Western Union, MoneyGram, etc. Also the ability of the
products to be shipped world wide via UPS or DHL which is 100% safe
and guaranteed. The company also offer prompt and reliable after-sale
service. So Whether you are a salon owner, stylist or looking to start a
small business, their professional team will work round the clock to
provide you with any type of extension or hair product your business
might require. Apart from this core values the companys culture also
serves as one of its greatest strength. These companys cultural values
include:
Customer First
Integrity and Honesty
Devotion Makes Perfect
Insist On Innovation
Teamwork
Keep Passion Forever
WEAKNESS: One of its greatest weakness of the product is the way its
adverts and their placement and also the non-use of the social media in
its marketing streategy. With the current rise in the use of social media
when compared to the traditional media. It becomes imperative for one
to upgrade to the present demands. Despite the fact that the product has
a website where orders could be placed online and it would be delivered
at your door step; they still need to take advantage of facebook adverts,
twitter and also bulk sms.
OPPORTUNITIES: One of the greatest opportunities lies in the
increasing demand for hair extensions by the growing population.
People are now seeing more reasons to look good and are getting more
attracted to the use of hair extensions
THREATS: one of the major threat is the increasing number of
companies which now produce and import similar hair extensions. As at
when the product started, the number of companies producing hair
extensions were just two. Now with over 9 companies producing hair
extensions the market is very competitive.
UNIQUE SELLING POINT: The Unique selling point of the product
lies in the quality of their hair extensions and also the price. As it is the
cheapest in the market when compared quality is compared in relation
to the price.
OBJECTIVES
The short term Objectives shall be to develop added volume, achieve
profit goal and reduce losses and re-establish ABX as the top brand for
hair extensions in the market.
Long Term Objective (any prescribed period beyond the next planning
period) shall be to Increase profits, position goal, i.e., gain leadership,
develop and establish a brand or corporate image and expand line of
service or product
ADVERTISING OBJECTIVES
MEDIA OBJECTIVES
Create national awareness of the existence of ABX hair company
while staying within the one hundred and fifty million naira
(N150,000,000) budget.
To increase the awareness of the hair extension among the target
audience in the first quarter of advertising
To generate an immediate response from the target audience in the
first quarter of the year
To generate immediate conviction in the target audience towards
the hair extension in the first quarter of the year
MARKETING OBJECTIVES
To increase hair extension sales by 50% in the second quarter of
the year
To increase the hair extension patronage by 70% in the first two
months of advertising
DETERMINNG MEDIA STRATEGIES
ABX hair extension is decreasing in its sales not because of bad products
but because of the facts that its media presence is not placed strategically
to create the necessary desired awareness for its target audience. This
trauma has affected its consumer; who are the people who make use of
the hair extensions and consequently made them shift their loyalties to
other product which they feel has created the necessary awareness
required to make them purchase the product.
To revive this good old days, careful and strategic media plan need to be
outline and well monitored. The essence of this is to remind the people
who use this product why they should purchase it.
As a result of these both above the line and below the line strategies
would be utilized. Mass media such as television, radio, newspaper,
magazine, sales promotion and online media would also be utilized.
STRATEGIC PLAN
A launch of the new adverts of the product would be carried out. The
essence of this is to stimulate and arouse the consciousness of the users
of the hair extension. This re-launch would be carried on all media (ie
print, broadcast and social media). A new advert would also launched
and two brand ambassadors would also be unveiled. Omotola Jalade
and Tiwa Savage have carefully been choosen as they represent what the
product hopes to bring to the live of its user which is to bring out the
confident side of you
SELECTING THE MEDIA
TELEVISION: The television station choosing for this campaign is NTA ,
STV, AIT. These channels were choosing because of their reach and also
their ratings. NTA network has coverage in the whole 36 states of
Nigeria. Stv has high ratings and when it comes to fashion and style, it
your nonstop station. AIT also has a sizeable about of reach while
channels has a high rating.
RADIO: Cool FM and Rhythm Fm because of their appeal to fashion and
style and also their ratings
The advertisement on the television and the jingle on radio will appear
five (10) times in a day in each radio throughout the planning period
and five times a day on television on strategically choosing programmes.
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EVALUATION
The measurement of the effectiveness of a media plan will be conducted
by the research department of the advertising agency, using methods
such as surveys, feedback, tracking, and observation. Each method has
its strengths. For example, surveys will be conducted among a sampling
of the target audience in the different periods of a media campaign, such
as in the beginning, the middle and the end of the campaign. The
Surveys will ask questions about the target audience's media behavior,
advertising recall, brand attitudes and actual purchase. Monthly
surveys on advertising recall of radio commercials will be conducted
whereby target audience will be ask which radio commercials they
remember hearing in the first quarter of the month base on the burst
strategy adopted in advertising the product.
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the effectiveness of each Web site. Media buyers are making more use of
the tracking method given the increasing use of interactive media.
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