Competition The personal care industry is extremely competitive. There are many small businesses that hold a large share of the market. The business trend seen today is filled with takeovers and acquisitions giving large companies a number of small pieces of the market.
Customers will prefer our product based on the brand name and the mission behind it. The Taco Spa mission will be the similar to their tea line: To bring you the most intriguing line of at home spa products with creative blending of tea, fruit and botanical resulting in an at home spa experience unlike any other. With this mission in mind and clearly stated on the product packaging Taco Spa has the ability to fiercely compete and win in the very competitive market. One of the largest domestic competitions for Taco Spa is Veda products.
An example of one of their competing products is as follows: Veda (Calming Composition 1. Ml bottle) $21 Price Place Available on line and in spas that carry the Veda product line Promotion Free sample of new cleanser and free shipping of orders over $80 Product Calming oil used after the shower to lock in moisture, in bath to soothe your skin, or as massage oil for calming scalp or issue massages There are many other competitors within the home spa market such as Origins and Limes products.
Origins is sold at major department stores around the world and Limes products are used on almost all cruise ships. 2. 4 Product Offering Examples of products Taco Spa is currently offering products to consumers: * Relaxation serum: A relaxing combination of green tea and rosemary oil used to lock n moisture and renew skin elasticity. * Tea and Fruit infused shampoos and conditioners: When used daily they rejuvenate the scalp and release natural oils making hair shiny, full of volume and dandruff free. Natural lotions: Scent combinations that invigorate the senses and calm the spirit while providing moisture and protection to the everyday free radicals our consumers encounter that damage sees n Nine Brand Equity Model lazy spa use Is BRANDS BRANDS was developed by consultants from Millard Brown and WAP that develops the brand equity through a sequence of steps that are contingent upon successfully accomplishing the ROR step.
This will build brand equity by challenging us to provide new and creative products to allow consumers to move up in the pyramid to become bonded consumers that remain loyal to Taco Spa because no other product is beats it. 2. Keys to Success The keys to success for Taco Spa are as follows: * Letting the consumer know about us through creative marketing and sales promotions overcoming the threats perceptions * Offering consumers exceptional products that produce promised results * Delivering the level of quality and customer service expected from our clients * Developing products that offer unique rodents that are not only perceived as better but actually are better than the competition Successfully accomplishing these key factors will ultimately result in consumers seeking out our products because they are the best in the market. . 6 Critical Issues Critical issues to keep in mind is leveraging our internal strengths by staying true to the promises of creating products that are all natural, keeping up with the technology that will allow us speedy production without compromising quality, and continually having key employees that believe in our concept and are always willing to assist consumers with their personal needs. Currently Taco Spa is in the developmental stage of its product life cycle.
This is a new concept for Taco because they have exclusively dealt with the production of unique and interesting tea. Although the products are still in development, the concept is one that will quickly grow and mature as time passes. The Taco brand already has excellent points-of-difference within the consumer market when examining their teas. Consumers already feel that Taco Teas are unique and original and cannot be found within another brand. Using these points- of-difference, Taco Spa is predicted to have similar impact on consumers.