We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Individual Analyzing Buyer Behavior Simulation Summary - Essay Example

Comments (0) Cite this document
Arnold Stonewall has hired me as his business manager to help boost business and increase profitability because he has been in the business for over thirty years and now he has noticed change in fashion and he needs my Input. This is how I analyzed the data from statistics at hand…
Download paper
Individual Analyzing Buyer Behavior Simulation Summary
Read TextPreview

Extract of sample
Individual Analyzing Buyer Behavior Simulation Summary

Compared to the other two services unisex salon and Day Spar which take more time although the payment is high it can be concluded that it is economical to provide barber services rather than day spar in terms of man hours spent. So this tells me I have to stick to the economical service. In the analysis of revenue and cost Day Spar makes a revenue of 111,826 per year while barbershops make the least of the three that is 15,812,Unisex make 28,849, however statistics indicate that men are not comfortable in unisex salons so it can be concluded that option of unisex salon is not viable. Information at hand indicates that Stonewall customers are traditional customers who have been coming there for a long time and because it is easier to retain a customer than to bring in a new one I keep to the traditional operations targeting the present customers while adding value to the services I offer them. I will not transform the barber shop into a Day Spar. BROOKLYN DEMOGRAPHICS Statistics indicate that males aged 0-34 years old in Brooklyn constitute 56 percent of the population. Statistics further indicate that the older the customers get the less they need stonewall services so I need to work targeting the younger population. While analyzing income data from households it can see that households making more than $100,000 are only 65,936 the least of all categories. These are families with extra income to pay for services of Day Spar maybe. I will target the less income earners who are the majority in this area. Information at hand also indicate that when asked which salon they would go to males in Brooklyn aged 0-15 indicated they would go to a traditional barbershop like Stonewall therefore again it is important that I retain the originality of the shop. CUSTOMER PERCEPTION Data collected indicates that basic services are needed by 100 percent of those interviewed the rest of the services are in a way not needed. Fifty seven percent of the population indicated other services such as Jacuzzi are expensive and possibly they may not pay for them. Fifty eight percent of the males indicated that a salon is a good experience for them I am considering putting this into the mix. Fifty percent of the men interviewed indicated that grooming is important this shows that in order for the business to grow we have to include grooming services such as manicure. POSITIONING STRATEGY I finally settled on choosing the barbershop plus, with value added services that are, hairstyle, pedicure, tattoo, color and manicure. This is because as I added them in that order one by one to the services revenue kept increasing for the three years of projection and not necessarily increasing costs. This done also did not affect the budget under my disposal as I will work within the budget. The average projected revenue for this project was as below; 543+679=843/3=690, savings on available budget= 550-307=307 therefore 307+690=997 in revenue projections for the three years compared with other options as I will indicate below, again it is the most viable option. When analyzing Sports Spar I realized it is not a viable option because the total cost of implementation are very high ,average profitability for three years is only $644 with provision of an addition luxury service. Furthermore this is a different line of business all together as indicated by demographics. Barber Spar looks like a viable venture when analyzed indicates a revenue of $1164.However it brings in a different service, concierge ... Read More
Cite this document
  • APA
  • MLA
(“Individual Analyzing Buyer Behavior Simulation Summary Essay”, n.d.)
Retrieved from https://studentshare.net/marketing/82943-individual-analyzing-buyer-behavior-simulation
(Individual Analyzing Buyer Behavior Simulation Summary Essay)
“Individual Analyzing Buyer Behavior Simulation Summary Essay”, n.d. https://studentshare.net/marketing/82943-individual-analyzing-buyer-behavior-simulation.
  • Cited: 0 times
Comments (0)
Click to create a comment
Buyer Behavior Proposal
The result of the study revealed that most men students preferred PlayStation and X-Box over Wii and information was acquired through advertising and their friends. They purchase for their free time which used mainly for playing sport, strategy, and role-play games. The participants were enjoying the games either they play it in solo, online and/ group playing and categorized from avid gamer to regular gamer.
13 Pages(3250 words)Essay
Buyer behavior

The author states that culture plays a significant role in regulating the behavior of humans. Its impacts take the form of an automatic and natural influence on consumer behavior. An exposure to persons with different cultural values helps people realize the significant role culture is playing in molding their behaviors.

11 Pages(2750 words)Essay
Individual Behavior
Individual Behavior Place and time are seemingly inseparable from individual behavior choices. People can influence their own actions. This helps them in achieving the intended results. The capacity to control the thought process and motivation occurs through personal agency (Borgatta & Montgomery 2000).
8 Pages(2000 words)Essay
Organizational Buyer Behavior
6 Pages(1500 words)Essay
Buyer Behavior
In studying buyer behaviour, a distinction is made between complex decision-making situations and those in which little consideration is given to the purchase being made. Where a product is relatively expensive and possibly technologically complex, prospective purchasers often go through a complex search and evaluation process prior to making a purchase.
8 Pages(2000 words)Essay
Marketing - Analyzing Buyer Behavior
An analysis of buyer behavior is important to understand the market and the consumers to place the product better. Any buyer will think before they purchase a product, it might be a luxurious item, a comfortable item or a basic need. The consumers' behavior and their buying patterns for Graves floor care products mainly depend on the price and then the efficiency of the products a floor cleaner is a necessary material today.
3 Pages(750 words)Essay
Consumer Psychology and Buyer Behavior
As the need varies from consumer to consumer (even in the range of similar products), so today the essence of customisation is felt like never before. Also, it is increasingly important for the marketer to know the shifts and swings of the consumers' psychology so that he can present the product in the way that the consumer anticipates.
11 Pages(2750 words)Essay
Buyer Behavior
In studying buyer behaviour, a distinction is made between complex decision-making situations and those in which little consideration is given to the purchase being made.
8 Pages(2000 words)Essay
Buyer Behavior
make buying decisions at every level of consumption, a scenario that marketers seek to evaluate, assess, and analyze in order to place products and services at a central position where sales are quickly and effectively realized (Sheth, 2011). The buyer behavior of consumers
1 Pages(250 words)Essay
Buyer behavior
120). In the event that the buying behaviors of customers are not understood, the business will experience challenges in gaining more customers particularly in the current competitive environment. Understanding the behaviors and patterns of the customers is also
2 Pages(500 words)Essay
Let us find you another Essay on topic Individual Analyzing Buyer Behavior Simulation Summary for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us