Pranav Case Study

...

- Implementation Plan

Duration and Timeline

IMPLEMENTATION TIMELINE

0-3 months

0 to 6 months

6-12 months

January to March - Q1

January to June Q1 and Q2

January to December

ACA3: Study the pricing strategy

ACA2: Improve unique or value-added services

ACA4: Increase promotion through social media channels

ACA5: Hire a brand ambassador

ACA1: Change location of Pranav New York

Implementation Process

1. Conduct market research to learn if current product pricing is at par vis-à-vis existing competitors

1. Expand products and services offering by adding the following: // Charging station// Free Wi-Fi// Game lounge for waiting customers// TV’s showing sports channels// Shoeshine services

1. Create social media fan pages through Facebook, Instagram, and an official website that will highlight Pranav's products and services and current market promos

1. Since the company aim to target the male customers, the company should hire a brand ambassador and the group suggests the following: // Derek Ramsay// John Lloyd Cruz// Dingdong Dantes// Richard Yap // BNO boys + Ramon Baustista (preferred by the group)

1. Conduct a market research for a location with higher male footage yield ie: Ortigas CBD // Makati CBD // or malls with higher per capita spending (greenbelt; trinoma; glorietta) // residential areas (paranaque or muntinlupa)

2. Prices offered should be able to account for operational expenses instead of engaging in price wars // given that the company itself has its own niche market pricing need not be competitor driven instead bedetermined by the quality of products and services offered by the company

2. The value-added services are done in order to keep up with the changing consumer needs and wants and also to serve as special product offering that will cater to "male" servce preferences

2. If budget permit, Pranav can also partner with print media (Summit Group or Mega Magazaine) for a company feature or through X-Deals

2. The brand ambassador need to be a public figure with a credible reputation to adhere to Pranav's company vision and mission this way the brand ambassador may endorse through his social media presence and public events about Pranav and its services

2. Once location is determined, conduct internal resource analysis if company assets can afford relocation or expansion cost

3. Device a one-year promotional pricing plan that will feature monthly discounted promos on specific products and services // ie High Season (Dec-Jan-Mar-Jul) 20% discount across all services; Low season Sale (Feb-May-Aug-Oct) Buy 1 take 1 Promo; Rainy Season (Jun-Nov) 50% off on selected services; Back to School Promo (Jun-Jul) 30% off on all groooming services; etc

3. To futher increase its market reach, the company can also partner with group buying sites such as Groupon // Ensogo // Metrodeal for promotions that can be redeemed during Low Seasons this way the company can still have a client base during seasonalities

3. Since the radio jocks (Samyg, Tonytoni, Slickrick & Ramon Bautista) have their own personnas that elicits each a specific kind of follower this will further expand Pranav's market share through radio and social media plugging

3. If the company can afford to relocate or expand then it should for better profitability and market scope in the long run