Company background essay example

Business Plan of ‘ Your Massage’

Executive Summary
The current business plan of Your Massage aims to propose a viable model and the related marketing plan for successfully launching a unique massaging service in the American market. The business wants to revolutionize the massage market by providing quick massages to the required customers for a reasonable price. Use of latest technology like sophisticated smart phone apps will make it easy for customers to book a service. Other than providing quick massaging service, it also wants to provide well trained professionals who can provide high quality services to the customers. The proposed business plan also includes the projected financial plan for two years.

The increasing stress level experienced by people is making them to look out for relaxation after work. One of the best way people can get relaxed is by getting a body massage. Many working executives are ready to pay a premium price for a good massage that can relax its body and mind. But the industry of massage is not efficient in providing high quality on demand massage services to people. People had to book for a massage in advance and had to wait for long hours for it.
The company mainly differentiates by offering world class service for a reasonable price. It has a team of well qualified massage professionals who can provide high quality service when compared with the sub-standard services offered by companies listed on Groupon and other listed services. The services offered by the company can be booked through a custom app which was a first in the industry.

Marketing Plan

Marketing Objectives
The marketing objectives of Your Massage are as follows:
Target Market
Selecting and targeting the appropriate target market will go a long way in making the product/service into a success. The target market for the services of Your Massage is young executives living in the cities that were selected for the initial roll out of services. The services will also be targeted at house wives and older people who look for a way to relax at the end of a busy work day.

Mission Statement

The mission of Your Massage is to revolutionize the massage industry in USA and bring massage services within the reach of a number of customers.

Vision Statement

Marketing Mix of Your Massage
Below is the detailed marketing mix strategy of Your Massage:
Product
The product of Your Massage is high quality instant massages that will be offered at the convenience of the customer. Different kinds of massage services will be offered by a team of highly trained massage practitioners. Many studies in the hospitality and service sector have proved that their success depends on the people who run them (Kuslavan, et al. 2010). Care will be taken to ensure that the massage service by the company will be of high quality than the one that are sold through Internet portals like Groupon. Different varieties of massage will be offered depending upon the tastes and preferences of the clients. The company has recruited the services of a professional web designer to design a world class website for the company (yourmassage. com). It cost U$ 10, 000 for getting the website built. The app using which customers can book their orders cost a further U$ 10, 000 to be designed by a professional app developer.

Price

Good pricing strategies for the products of a firm increase its revenues and attract more customers to initially try the service (Bojanic, 1996). The price of the massage services that will be offered is slightly higher than that of the low quality services available in the market. But care is also taken to keep the service accessible to a significant section of the target market. The prices decided for the standard massage offered by the company were decided at US$ 140 for 60 minutes and US$ 200 for 90 minutes. Any extra services requested by the client will be charged extra.

Place

Since many customers wish to get services like massage at their own places, well-trained professionals of Your Massage will provide services at the place of the clients. Clients can book a massage easily with the help of a simple smart phone app. Payment and tips for the massage professionals can also be made from the smart phone app itself. The massage professional will reach the client’s location five minutes and get all the things necessary for the massage ready. In order to keep the services available for busy executives, services will be provided from 8. 00 AM in the morning to 10. 00 PM in the night.

Promotion

Effective promotional strategies are the key for reaching a significant portion of the target audience in the shortest possible time. In order to reach the target audience, the company will resort to targeted ads on the Internet. This will ensure that the limited promotional budget of the company is utilized effectively. Ads in the local print media will also be placed to reach housewives and older customers who are not Internet savvy.
Proper controls will also be put in place for the plan as the success of any marketing plan depends upon its success (Piercy & Morgan).

Financial Plan

Conclusion
With a new first to the market business model, Your Massage wants to revolutionize the massage business in USA. The business model resembles the one followed by a number of new age Internet based businesses like Uber and Groupon which take orders through the Internet of mobile phone apps. This unique model keeps its costs under control and ensures that the massage services are provided to the required customers without any delay. Its team of highly qualified massagers differentiates the company from that of other players in the industry. The company can expand the services across USA once its business model is proven to be a success.

Works Cited

– Bojanic, D. “ Consumer Perceptions of Price, Value and Satisfaction in the Hotel Industry: An Exploratory Study. Journal of Hospitality and Leisure Marketing 4. 1 (1997): 5-22. Print.
– Kusluvan, S., Kusluvan, Z., Illhan, I., &. Buyruk, L. “ The Human Dimension: A Review of Human Resources Management Isssues in the Tourism and Hospitality Industry.” Cornell Hospitality Quarterly 51. 2 (2007). 171-214.
– Piercy, N. F., & Morgan, N. A. (1994). The Marketing Planning Process: Behavioral Problems Compared to Analytical Techniques in Explaining Marketing Plan Credibility. Journal of Business Research 29. 33 (1994). 167-178.