Umuc Hair Cuts Stage 1 Essay

610 Words3 Pages
I. Introduction Ms. Morningstar, My name is Kay Williams and I am a professional business consultant. From my understanding, your business is in need of a little tidying up. UMUC Haircuts already has some wonderful aspects. You already have a faithful customer base. Your customers have been using your services for a long time and they trust you. I think with a little bit of organization your business will thrive like never before! II. Analysis A. Buyer Power Here you ask yourself how easy it is to drive your prices down. This is of course driven by the number of customers and the importance of each individual to your business. The buyer power controls everything! We need to think about what the customer’s needs are. When does the customer like to schedule his/her appointment? What services does the customer utilize? What are some ways for the customer to provide feedback for what they want? B. Supplier Power Here we assess how easy it is for suppliers to drive up prices. This is driven by the number of suppliers of each key input, the uniqueness of their products and their strength and control over you. There are tons of suppliers. We can choose our suppliers however we want. However, let us consider quality products. Quality doesn’t always mean the cheapest. We need to also be sensible with our selections and try not to break the bank! C. Threat of Substitution This is the ability of the customer to find a different way of doing what you do; an easier way perhaps. Is there an easier way to cut your own hair? I’m sure there is. For me personally, I’m not going to try! I want to be pampered! Your customers come to you because you take care of them and make each individual feel special. My hairdresser is also my confidant and I enjoy the conversations we have while she is cutting my hair. I couldn’t get that customer experience if I tried to do it

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