Final Exam MGT 807 Entrepreneurship and Innovation After finishing your master’s degree at ICMS, you have decided to open a barber shop in Bondi. But before starting the venture, you plan to...

Final Exam MGT 807 Entrepreneurship and Innovation
Barber Shop in Bondi
Introduction
A barber shop in Bondi beach in Sydney, New South Wales, Australia is located in the Sydney Central Business district. It is presently having a population of 11656 residents. Thus, located near the sea beach it attracts huge number of tourists who visits on a daily basis. To make a salon in Bondi will be of great significance as it can generate huge profits by delivery efficient body and personal care services and through sales of its modernized products to the customers who visits the salon. It is the customer relationship, empathy and building trust as well as creating a magnificent ambience in the salon which can attract the customers and provide them an energetic experience.
Customer Journey Map – Barber Shop (Emmi Tevala, 2017)
    Stage
    Awareness
    Consideration
    Decision
    Delivery & Use
    Loyalty & Advocacy
    Customer Activities
    Hear from friends & family, newspaper ads, online through website
    Compare and analyse the other barbershop in terms of price, services and offers
    Visit the barber shop
    Plan for a haircut or shaving of beard
    Pick up a style for haircut or shaving of beard
    Communicate the same to the barber
    Haircut done
    Establish relationship by visiting the barbershop again
    Share experience with others
    Customer Goals
    No specific goals at this point
    Finds the suitable salon for haircut or shaving
    Choosing the choice of haircut and get inspired
    Order for the haircut effortlessly
    Pick up a haircut and order easily when visiting the shop
    Request for help if needed when any issues arises or request for a refund
    Have the correct quality products for haircut and shaving and other skincare treatment
    Deliver the prudent customer experience
    Share the feedback and show empathy
    Touch points
    Word of mouth, relationship building through sympathy, traditional media & social media
    Word of mouth, website visit, barbershop visit, social media
    By, visiting barbershop, ordering products from company website like hair colours, shampoo for hair treatment
    Confirming through email, mobile message of the product ordered
    Delivery of services through packaging and delivery of the goods and informing the customer through email, messages or through phone calls etc.
    Phone calls, chats, email
    Hair colours, face creams, hair solutions and shampoos etc.
    Mail, phone calls, messages to customer for various offers and discounts
    Word of mouth, social communication feedback
    Experience
    
Interested, Curious
    
Requires efforts but excited
    
Excited
    
Payment is painful
    
Requires effort, happy when received
    
Frustrated
    
Satisfied
    
This is easy
    
I have to share this
    Business Goals
    Increase in awareness and interests for stylish haircuts
    Increase the number of social media and website visitors
    Increase the shopping cart value for the sales of hair colours and face cream and body case solutions and conversion rate
    Increase the number of sales of these items along with number of customer footfall in the salon
    Timely delivery of the product like hair colours, skin care solutions etc.
    Increase the customer satisfaction level by minimizing of the customer waiting time for haircut and other body care services
    Deliver services of international quality to goes beyond the customer’s expectations
    Increase the customer retention rate and the and the customer footfall and the frequency
    Turn the customers into advocates by conversion of their negative experiences in other salons to a positive dream solution
    KPIs
    Targeting the maximum number of customers in year one. Atleast 1500 customer in the 1st year
    New visitors of the website and conversion of the visitors into potential customers
    Increase the shopping cart value for the sales of the hair and body care product and conversion rate augmentation
    Online sales and conversion rates
    On time delivery rate and average delivery window
    Customer services, success rates and waiting time improvement
    Products and services reviews
    Increase the retention rate, order value and customer frequency
    Customer satisfaction
    Organizational Activities
    Create blogs and contents in websites and other personal care magazines, public relationship establishment
    Create blogs and contents in websites and other personal care magazines, public relationship establishment
    Optimization of the hair cutting and body care experience
    Optimization of the purchase funnel and order handling of the various product like hair and body care solution
    Pickup & delivery of the product on time to the customers
    Organization of customer...