Barrett’s

Beauties
Hair Salon
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Marketing Strategy Plan

Ieshia Price-Barrett-
May 24, 2020

Table of Contents

Executive Summary......................................................................................................................
Introduction.............................................................................................................................
Analysis of the Market Opportunity.......................................................................................
Market Segments.....................................................................................................................
Overarching Marketing Goal................................................................................................
Marketing Objectives...........................................................................................................
Market Analysis....................................................................................................................
Conclusion.............................................................................................................................
Appendices............................................................................................................................
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Executive Summary
Barrett’s Beauties is a hair boutique where customers can customize their wig style and fit before
placing and order installation and other hair styling services. The hair care segment accounted for 18% of the
total revenue of the global beauty market in 2017 and was the second-largest segment after skincare. The Wig
and Hairpiece Stores industry represents a niche product retailer within the hair-care sector(ltd, M, n.d.).
Barrett’s Beauties Hair Salon will develop a premium wig and hair accessories line that will provide and
intimate, professional environment for patrons to make hair choice and selections. Our focus is providing
custom made wigs for individuals that purchase wigs and hairpieces for aesthetic purposes and those that
purchase cranial prothesis wigs, which are for people who have lost their hair due to a medical condition or
treatment. Recognizing the dramatic increase in fake, processed human hair offered online and local beauty
supply store leaves many clients wishing they had a professional stylist to guide them as well as offer a better
selection of wigs and hair accessories. The clientele of Barrett’s Beauties is the initial target audience for
retailing the wig and hair accessories. Barrett’s Beauties wigs and hair accessories line will focus on providing
top quality products combined with an outstanding customer service to meet all our clients’ needs wig and hair
accessory needs.
Low interest rates, increasing employment and an improving financial outlook have caused per capita
disposable income and overall consumer confidence to increase in the hair extension market. Per capita
disposable income is expected to rise at an annualized rate of 2.4% over the five years to 2019(ltd, M, n.d.). The
rising number of middle-class populations that are emerging as the next potential customers for the beauty
industry is driving the growth of the global hair wigs and extension market. The trend of selling hair extensions
online has been increasing in recent years, a significant share of hair wigs and extensions distribution takes
place through specialty stores, hair salon and beauty stores, and hair clinics (ltd, M, n.d.). While there are
several companies that offer custom wigs and hair selection, a close study of the Wig and Hairpiece stores
industry shows that the industry has low and steady barriers to entry.

The following factors are likely to contribute to the growth of the hair wigs and extension market during
the forecast period:
 Growing Demand from Consumers of African Descent
 Middle-Class Population to Lead Market Demand
 Rising demand for Beauty and Lifestyle Accessories
 Increased Demand with Social Media as Enabler
Key Market Insights
 The analysis of the hair wigs and extensions market provides market sizing and growth opportunities for
the forecast period 2019–2024.
 Offers market sizing and growth prospects of the hair wigs and extension market for the forecast period
2019–2024.
 Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the
hair wigs and extensions market.
 Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
 Delivers a complete overview of market segments and the regional outlook of the hair wigs and
extensions market.
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Introduction
Company History
I am Ieshia Barrett and I have over twenty years’ experience in the hair industry. After receiving my
master’s cosmetology in the state of West Virginia I began working for the JCPenney hair salon from 2003 until
2011. It was there I learned Matrix’s CRAFT hair styling and cutting techniques as well as the corporate
structure of running a hair salon. While being the owner and operator of the Culture of Beauty Hair Salon I
obtain my Bachelor of Arts from West Virginia State University in Business Administration. Over the last two
years my family and I have relocated to Atlanta Georgia to continue growing our family in our home state. I am
now the owner and operator of Barrett’s Beauties located and operated in my home, ten miles from Hartsfield
Jackson International Airport. Barrett’s Beauty’s has operated for almost two years and offer services to an
upscale private selection clientele. The patrons of Barrett’s Beauty can be defined as clients who have extreme
hair issues that may cause embarrassment in an ordinary public hair salon. My clients seek out services for hair
replacement, hair loss treatments, protective styles, hair extensions and custom wigs.

Purpose
Within the two years I have expanded my customer base to include 80 regular customers and at least two new
clients a month. While my customer base is thriving, the business’s retail sales need a marketing strategy plan
that will increase profits. To manage the need for quality wigs and hair accessories, Barret’s Beauties will
create a marketing plan that will expand retail sales by adding a line of human and synthetic hair wigs and
accessories. My customers are always complaining about the poor-quality hair options available at the local
beauty supply stores. Not to mention the obscure orders from fake hair vendors online. I have had to redesign
the expensive wigs my clients purchase online many times.
At this time, 90% of my clientele purchase wigs and hair accessories at the local beauty supply or online,
whether they are satisfied with the purchase or not. Drumming up clientele goes to waste when what the
customer want is not available. A wig and hair accessory line will further cater to the first-class intimate salon
atmosphere I provide to my clients. In addition, this expansion will enhance my current clientele, as well as
bring awareness for new partnerships to distribute quality hair extensions.

Mission
Barrett’s Beauties provides a pleasurable experience for clients seeking services for hair replacement, hair loss,
protective styles, hair extensions and custom wigs. We offer a professional, first- class exclusive atmosphere for
clients to relax as they triumph over their hair styles and concerns. We strive to deliver attainable beauty and
unsurpassed customer service. We will ensure that we hold ourselves accountable to the highest standards by
meeting our customers’ needs precisely and completely whenever they patronize our products and salon.

Vision
Our focus is providing custom made wigs for individuals that purchase wigs and hairpieces for aesthetic
purposes and those that purchase cranial prothesis wigs. Our vision is to expand the retail products to include a
wig and hair extension line. We intend to enhance our customers experience by retailing a wide range of hair
extension products from premiere hair extension manufacturing brands and hair installation in one setting.

Brief Product/Service Description

Rising consciousness about appearance among consumers has created immense opportunity for the
hair extensions manufacturers to offer a variety of products to consumers. Consumers prefer hair
extensions as an alternative to coloring their own hair; as a protective style to strengthen hair
follicles; and as a cover up due to hair loss or medical reasons. Barrett’s Beauties will offer a
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complete line of quality human and synthetic wigs and hair accessories directly to the customer. A
complete list of the products are as follows:
Retailing human and synthetic custom-made wigs
Retailing human and synthetic lace front wigs
Retailing human and synthetic hair units
Retailing human hair bundles
Retailing synthetic hair packages

air
Product & Service Goals
Barrett’s Beauties will ensure that all customer will enjoy a first-class exclusive treatment while making wig
style, color , length, and hair selections. Clients are scheduled for consultation visits for hair selection,
measurements, order placements and to schedule an appointment for their hair services provided by Barrett’s
Beauties Salon’ exclusive environment. Client lab data and purchase history will be managed through our
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quick book system currently in place. All services are performed at the request and selection of the customer to
ensure quality service and products. The service goals are as follows:
Increase retail sales by adding a wig and hair accessories line for the existing clientele of Barrett’s
Beauties. The industry’s fastest-growing product segment over the past five years has been human-hair wigs
and hairpieces, although these products command premium pricing, generally retailing between $300 and
$1,500, on average. By contrast, synthetic hair wigs generally cost between $50 and $200, on average. Alter
goods in favor of market conditions: Manufacturers that can source human hair as opposed to synthetic hair will
have a competitive advantage( IBISWorld,n.d.)

Decrease the competitive advantage held by local beauty supply stores and online sites that sell wigs and
human hair accessories. Barrett’s Beauties will offer high quality wigs and human hair accessories as an in-
house feature to achieve this goal. 100% of my clientele purchase wigs and hair accessories at the local beauty
supply or online and are not generally satisfied with their purchase but continue to obtain installation services.
This industry has no major players with a market share of greater than 5% welcoming new entrants into the
industry. The goal is to become my clients first source when buying wigs and human hair accessories
line( IBISWorld,n.d.).

Promote and increase the brand awareness of the Barret’s Beauties wig and hair accessories by
increasing social media presence. The Wig and Hairpiece Stores industry represents a niche product retailer
within the hair-care sector. Over the five years to 2019, industry revenue is projected to grow at an annualized
rate of 4.1% to $415.2 million Strong distribution networks: Industry players that have strong distribution
networks will compete effectively by establishing long-term relationships with downstream retailers.
Established brand names : Companies that already have established brand names will be competitive. These
brand names already hold significant market share and will continue to grow amid high demand for human hair(
IBISWorld,n.d.).
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Barrett’s Beauties Objectives

 Learn about weaving and the various types of human hair available as well as the differences between
synthetic and human hair weaves, so that you can better serve your customers.
 Advise customers on which hair is best for different types of extensions, wigs, and braids.
 The company will adhere to its current salon location to purchase and store hair.
 The company will establish a website to establish an additional venue to Market and sell hair and a channel
for new customers.
 Set up wholesale accounts with manufacturers and brands of human hair.

Market development strategies

Even when a firm holds a commanding share of an existing product-market, additional growth may be
possible by encouraging current customers to become more loyal and concentrate their purchases, use more
of the product or service, use it more often, or use it in new ways.p.43 The supply chain for human hair
worldwide is growing at an incredible rate of 40% each year. (Final Step Marketing) There are thousands
of vendors and consumers exchanging hair over the internet and retail salons presently. The problem is the
quality of product the end consumer receives. The trick then is to offer the same product but with a higher
quality. The Barrett’s Beauties wig and hair accessories line will supply the demand for variety and
supreme quality hair extensions.
Geographic expansion
Barrett’s Beauties will expand its brand and retail sales to includes online consumers as well as carter to the
existing patrons. The company will seek to expand its presence on the internet by creating social media
aimed at selling the new hair line and promoting the exclusive salon atmosphere. The firm will also create a
YouTube page to make regular posts on new hair shipments, hair installation tips, as well as take some
suggestions from the viewers demands.
Expand markets for existing products
Currently .the clientele of Barrett’s Beauties is the main market for retailing the wig and hair accessories.
Creating a bigger presence online ensures new customers outside of my area that will purchase wig and hair
accessories whether they schedule a visit to the salon or not. The company aims to penetrate Facebook,
Instagram, and YouTube social media platform as a form of free advertising and potential extra income with
increased viewers.

Analysis of the Market Opportunity

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As the economy has improved over the five years to 2019, rising disposable income has encouraged
consumers to invest in discretionary products, which in turn boosted demand for aesthetic wigs and
hairpieces. The industry caters to two distinct consumer groups: individuals that purchase wigs and
hairpieces for aesthetic purposes and those that purchase cranial prothesis wigs, which are for people who
have lost their hair due to a medical condition or treatment. Consumers prefer hair extensions as an
alternative to natural coloring hair, as it causes hair damage. Easy availability of such hair extensions on e-
commerce platforms as well as offline stores and high demand for hair extensions as they make the natural
hair appear longer and denser are resulting in the expansion of the global hair extensions market(MRFR,
n.d.).
Even women who cannot afford the cost of human hair for their extensions will seek out artificial
alternatives that help them to complete the look that they want. Although high-end providers can still
charge upwards of $4,000 for a complete service, there are discount firms active in the industry that offer
an entire set of extensions for under $100. 34% of women say that they use hair extensions as a part of
their beauty regime regularly. 87% of those who said that they were wearing industry products refuse to
tell others about their lifestyle choice. (Final Step Marketing)
The trend of selling online has been increasing in recent years, a significant share of hair wigs and
extensions distribution takes place through specialty stores, hair salon and beauty stores, and hair clinics
(ltd, M, n.d.). The improving economy has led profit margins to increase over the past five years.
Moreover, the aging population has bolstered the industry's market. As a result of these trends, industry
revenue is expected to increase during the current period. Over the five years to 2024, industry revenue is
projected to continue growing because of improving per capita disposable income and increasing demand
for medical-use hairpieces (ibisworld.com, n.d.).
The Global Hair Extensions Market is expected to register a growth rate of 4.5% during the forecast
period. The market is expected to garner a value of approximately USD 1.2 billion by the end of
2024.Furthermore, rising consciousness about appearance among consumers has created immense
opportunity for the hair extensions manufacturers to offer a variety of products to consumers(ltd, M, n.d.).
North America holds the largest share in the Global Hair Extensions Market, followed by Europe and the
Asia Pacific, respectively(MRFR, n.d.).

Key Vendor Analysis

The global hair wigs and extension market is witnessing intense competition from various players trying to
offer diverse products. The focus on product innovations will help vendors attract new consumers and gain
a larger market share. The customer demand has steered the global hair wigs and extensions market.
Manufacturers have been introducing new products according to the prevailing fashion trends. However,
this has not been able to increase the demand for wigs and hair extensions among customers over time.
The market demand is primarily driven by new trends showcased by celebrities on social media. India is
the largest supplier of human hair, and the business is highly concentrated on the supply side. As of now,
the global hair wigs and extensions market is dominated by domestic players, including small-scale
proprietorship firms. Several local players are expected to expand their presence worldwide during the
forecast period, especially in APAC and Latin America, which are the fast-developing economies.
Besides, improving global economic conditions are likely to fuel the growth of the market, making it an
attractive time for the launch of new products. An intensely competitive environment is expected to
emerge during the forecast period because of the immensely growing popularity of hair wigs and
extensions across the globe, thereby driving the demand for global hair wigs and extensions market (ltd, R,
& M, 2020).
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Market Segments

Women of color between the ages Women of color between the ages Women of color age 60 and over:
of 16-40: of 24-60: This generation of consumer live on
While this segment of patrons These women have completed a fix income and truly benefit for
depends on their parents for college and have professional jobs wigs and hair accessories as they aid
spending money, they also represent that require them to keep up their in maintain their appearance as well
the imitators of the latest styles and appearance and can make up to as shorten their daily activities. Not
trends. Most have part time jobs or $50,000 annually. This segment of all seniors this age live in nursing
go to school full time, so their women usually has ten or more homes or live isolated lifestyle. In
median income varies. However, hours dedicated to the profession the Black community they represent
this groups need for staying up to and homelife and little to no time to the elders and mothers of the church
date and in fashion will demand a style their own hair. Hair extension who never miss a beat when it comes
great bulk of the wig and hair offer clients the ease of maintain to putting on their Sundays best.
accessories offered by Barrett’s their hairstyle for weeks sometimes
Beauties. months.

Clients seeking wigs and hair extensions for aesthetic purposes:

Celebrity fashion trends is another major catalyst to the growth and popularity of these products in the global
market. The increasing efforts to improve physical appearances and a growing number of social media users
will create lucrative opportunities for top players operating in the global market. The consumers in the
developed market are buying wigs and extensions made of high-end human hair which are expensive than
products made of synthetic hair in the market. The increase in income levels is enabling consumers to increase
expenses on personal grooming and beauty products(Reportlinker, 2018).
Clients seeking wigs and hair extensions for protective styles, hair loss, or medical purposes
More women are kissing the “creamy crack” (chemical relaxers) goodbye and are proudly showing off their
natural hair. Ijeoma and Uchenna Tiggs of Eye for Design Hair explain how a woman can embrace her natural
hair and extensions, “Protective styling such as wigs, sew-in extensions, and clip-ins allow [women] to go
smoothly through the transition [from relaxed to natural hair] by allowing them to maintain their previous look
or their natural look with a full head of hair while protecting their natural hair as it grows out.” Although
protective styles are typically known for adding styling versatility to a woman’s crowning glory, they can also
be used for women suffering from medical ailments that cause hair loss or hair issues. For the woman
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undergoing chemotherapy treatments or diagnosed with alopecia, protective styles have become a way of life.
“Those suffering from hair loss due to medical conditions can find refuge in PS (protective styles), such as
weaves, because of the coverage they provide,”( Blackenterprise.com, 2018).

Percent of
customer Sales
s that buy
wig and
human
hair
accessori
es for hair
loss or
medical
Percentreasons
of Percent of
customer 15% customer
s that buy s that buy
wig and wig and
human human
hair hair
accessori accessori
es for es for
protective aesthetic
reasons reasons
25% 60%

Market Segmentation by Type: There are a thousand varieties of wig and human hair accessories. Barrett’s
Beauties will offer a wide variety of styles, lengths, and color hair extensions.
Based on End-Use Based on Cap Type
Leisure Lace
Beautification Monofilament
Functional
Based on End-Use
Based on Hair Type Lengthening and Volumizing
Human Hair Coloring
Synthetic Hair Styling
Extensions
Based on Hair Type
Based on Fitting Type Synthetic Hair
Clip-In Human Hair
Micro Link
Glue-In
Tape-In
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Atlanta Demographics
In addition, the salon’s Atlanta location presents the perfect amount of diversity, and eager consumers. Over
the past ten years, Atlanta has become the epicenter of hair extensions, wigs, and weave. You know this as soon
as you land at Hartsfield Airport, the gateway to the city. At every turn, you see a gorgeous woman flaunting
her transparent lace, custom color, and eye-dropping long hair. The hair extension industry is big business in
Atlanta, and its surrounding cities like Decatur, Marietta, Gwinnett, and College Park. Metro Atlanta is the
ninth largest and one of the fastest-growing metro areas in the nation. Home to approximately 5.9 million
people in 2018, metro Atlanta experienced the fourth-largest population increase of all MSAs in the nation—an
increase of approximately 663,000 people from 2010 to 2018. For the last five years, Atlanta has been among
the top five metro areas in the nation for most net migration. From 2017 to 2018, metro Atlanta’s net migration
was 43,362. A business-friendly environment and low cost of doing business are key elements for why
companies choose metro Atlanta.

Atlanta Population 5,949,951

Median Age 36.6
Percent of Population - 25 years and over with a bachelor’s degree or higher 39.4%
Percent of Population - Male/Female 48.4%/51.6%
Percent of Population - Race: White 52.8%
Percent of Population - Race: Black or African American 34.3%
Percent of Population - Race: Asian 6.1%
Percent of Population - Any Race: Hispanic or Latino 10.9%
Percent of Population - Foreign-Born 13.8%

Source: U.S. Census Bureau, 2018 Population Estimates, 2018 American Community Survey
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Overarching Marketing Goal

In the beginning, the hair extension business typically targeted women with short, kinky, curly hair who wanted
long, straight locks; it wasn’t until the late ’90s that the market diversified and white women became part of the
clientele. Celebrity marketing, such as Jessica Simpson’s hair extension line that debuted in 2006, helped spur
the human hair 32 business into the $1 billion industry it is today, according to statistics from the (Professional
Beauty Association).
The rising number of middle-class populations that are emerging as the next potential customers for the beauty
industry is driving the growth of the global hair wigs and extension market. The urban population is the major
driving force for the beauty industry and the primary end-user in the global hair wigs and extension market.

Strengths
 Barret’s Beauties provides a pleasurable experience for clients seeking services for hair replacement, hair loss,
protective styles, hair extensions and custom wigs in a one on one setting.
 100% of the patrons that visit Barrett’s Beauties Hair salon purchase hair extensions and hair installation services.
 Barrett’s Beauties Hair line will only sell supreme quality hair.

Weaknesses
 Retail sales in the salon current stand at 2% of total revenue.
 Clients purchase wigs and hair accessories from other retailers.
 There are no technology limitations that may delay the development of the new hair line.
 We know we do not have the capacity to compete with big players in the industry, but we will ensure that the
prices and quality of all the hair extension products that are available in our stores are competitive with what is
obtainable amongst hair extension stores within our level.

Opportunities
 The startup capital and inventory to develop the hair extension line are minimum.
 While there are thousands of hair extension merchants currently in place, the barriers for entry of the new product
into the hair industry market remain favorable.
 Atlanta is the epicenter of hair extensions, wigs, and weave

Threats
 The company will provide better Quality hair products than the local beauty supply store however the small firm
cannot compete with their many locations and habitual consumer behavior.
 The competition has mass amounts of inventory and an established online presence.

Marketing Objectives
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Barrett’s Beauties Goals

 Offer discounts to salon professionals and cosmetology students to gain steady, repeat business.
 Offer a free bundle give a way campaigns monthly through social media.
 Offer top quality hair from trusted vendors
 Offer one on one guidance when making selection for hair type, length, color, and style .
 Exclusivity while making hair selection as well as during the installation process.
Promote New Product
 Purchase hair from vendors at discounted rate.
 Retail product to existing customer to include cost and profit.
 Retail hair services in which the purchased hair can be installed.
Grow digital presence
 The company will sponsor hair expos in collaboration with the local businesses within the community
to increase brand awareness.
Retain Existing Customers
 The company will participate in donating hair services, wigs and hair accessories to local community
groups, homeless shelter, senior communities, and cancer clinics to increase product awareness.
Corporate Growth Strategies
A company possessing resources that its competitors do not have is not sufficient to guarantee superior
performance. The firm must employ its resources in such a way that customers will have a good reason to
purchase from it instead of its competitors. It needs to provide one or more superior benefits at a price like what
competitors charge or deliver comparable benefits at lower cost. Then it needs to effectively communicate those
benefits or cost savings so they will be accurately perceived by potential customers(Mullins & Walker, 2014 p.
42).
Market development strategies
Even when a firm holds a commanding share of an existing product-market, additional growth may be possible
by encouraging current customers to become more loyal and concentrate their purchases, use more of the
product or service, use it more often, or use it in new ways(Mullins & Walker, 2014 p.43) The supply chain for
human hair worldwide is growing at an incredible rate of 40% each year. (Final Step Marketing) There are
thousands of vendors and consumers exchanging hair over the internet and retail salons presently. The problem
is the quality of product the end consumer receives. The trick then is to offer the same product but with a higher
quality. The Barrett’s Beauties wig and hair accessories line will supply the demand for variety and supreme
quality hair extensions.
Online expansion strategies
Barrett’s Beauties will expand its brand and retail sales to includes online consumers as well as carter to the
existing patrons. The company will seek to expand its presence on the internet by creating social media aimed at
selling the new hair line and promoting the exclusive salon atmosphere. The firm will also create a YouTube
page to make regular posts on new hair shipments, hair installation tips, as well as take some suggestions from
the viewers demands.

Expand markets for existing products

Currently, the clientele of Barrett’s Beauties is the main market for retailing the wig and hair accessories.
Creating a bigger presence online ensures new customers outside of my area that will purchase wig and hair
accessories whether they schedule a visit to the salon or not. The company aims to penetrate Facebook,
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Barrett’s Beauties Defender strategy

A defender strategy makes sense only when a business has something worth defending. It is most appropriate
for units with a profitable share of one or more major segments in a relatively mature, stable industry.
Barrett’s Beauties Hair Salon provides a stable market for the wig and hair accessories line to serve existing
customers and embark on new clients as well. The wig and hair accessories will act as a new development of
the products and services already offered by its home salon. Consistent with the “constant improvement”
principles of total quality management, most successful defenders initiate process improvements, product
improvements, or line extensions to help protect and strengthen their established positions. But they devote
relatively few resources to basic R&D or the development of innovative new products. Thus, a defender
strategy works best in industries where the basic technology is not overly complex or where it is well
developed and unlikely to change dramatically over the short term. (Mullins & Walker, 2014p.75).
Instagram, and YouTube social media platform as a form of free advertising and potential extra income with
increased viewers.

Barrett’s Beauties marketing strategy

 Attempts to locate and maintain a secure position in relatively stable product or service areas.
 Offers relatively limited range of products or services compared with competitors.
 Protect its domain by offering lower prices, higher quality, or better service than competitors.
 Introduce our hair extension store by sending introductory letters alongside our brochure to
organizations, households.
 Create a loyalty plan that will enable the company to reward our regular customers
 Engage in direct marketing and sales
 Encourage the use of Word of mouth marketing (referrals)
 Leverage on the internet and social media platforms to promote our business
 Advertise our hair extension store business in our official website and employ strategies that will help us
pull traffic to the site
 to build a business that will survive off its own cash flow without the need for injecting finance from
external sources once the business is officially running.

Market Analysis
Based on the research I have acquired on the hair industry, the market growth enablers for this segment
attributes to, increasing hair loss among men and women; rising demand for beauty and lifestyle accessories;
increased demand with social media as enabler; rising demand from consumers of African descent. My
company future objective will take advantage of this emerging dynamic by offering top quality wigs and hair
accessories to the existing clientele of the salon. My clients have already established the need to not only
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purchase wigs and hair accessories, but they have demanded to make their hair purchases through Barrett’s
Beauties Hair Salon.

The restraints in the industry lies in the highly fragmented market hindering profit scalability.
increasing branding and manufacturing expenses; controversies over hair sourcing posing adoption issues.
Because Barrett’s Beauties is owned and operated by one stylist, with a small clientele, the initial capital and
inventory needed to enter the new venture complies with the salon budget in place. Barrett’s Beauties will
ensure that all customer will enjoy a first-class exclusive treatment while making wig style, color , length, and
hair selections online or at the salon. I will use my professional skills and experience to guide customer as they
make their purchases, eliminating any confusion or buyer’s remorse. Barrett’s Beauties growth strategy will be
focused primarily on internal new product development, emphasizing both improved products for existing
customers and new products for new markets (Mullins & Walker, 2014 p.58).

Key Elements 
Hair wigs and extensions are mainly sold through online channels and retail distribution channels. The products
are also available to end-users through online shopping websites as well as online direct-to-consumer stores.
There is an emerging trend of promoting wigs and hair extensions on social media platforms. The number of
vendors presently in the market contribute to the low startup cost and inventory to develop the wig and hair
accessories line. We are aware that gaining approval and winning customers over is to retail our wide range of
quality hair extension a little bit cheaper than what is obtainable in the market and we are well prepared to
survive on lower profit margin temporarily. Creating a bigger presence online ensures new customers outside of
my area that will purchase wig and hair accessories whether they schedule a visit to the salon or not.

The most favorable reason for the new product development is that it will act as an additional source of income
without the added cost of administration adjustments. Maintaining and selling of the hairline can be
accomplished in the time frame presently allotted to serve clientele at Barrett’s Beauties. The new product line
eliminates aggressive selling and will refine the personal selling techniques to gain clients wants and need that
are unknown by the competitor. The greatest part of being and entrepreneur is that one can set the pace and
structure. The company will have the ability to maintain control over the number of wigs and hair line
accessories orders as well as hair installation appointments. This strategy also provides a steady pace when the
need arises for hiring new stylist and staff and implementing budgets.

Conclusion
Barrett’s Beauties is a hair boutique where customers can customize their wig style and fit before
placing and order for quality and hair styling services. This report represents the firm intention to
develop a marketing strategy for its wigs and hair line accessories. Rising consciousness about
appearance among consumers has created immense opportunity for the hair extensions manufacturers to
offer a variety of products to consumers and will become the goal of Barrett’s Beauties.
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The firm will continue to focus on providing custom made wigs for individuals that purchase wigs and
hairpieces for aesthetic purposes and those that purchase cranial prothesis wigs.  The business is
currently trying to meet the demand of its current clientele that are unsatisfied with their current hair
extension purchases made locally as well as online. Barrett’s Beauties will continue its growth by setting
up wholesale accounts with manufacturers and brands of human hair. The hair extension industry is big
business in Atlanta and will provide opportunity to increase their online presence.
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Appendices

100% Human Hair, Wigs, Extensions & Salon Services. (n.d.). Retrieved May 21, 2020, from

https://hairqueenla.com/

Account. (n.d.). Retrieved May 21, 2020, from https://hairqueenla.com/account/login?return_url=/account

Hair Extensions Market by type, Size, Share and Global Forecast – 2024: MRFR. (n.d.). Retrieved May 23, 2020,

from https://www.marketresearchfuture.com/reports/hair-extension-market-6544

Industry Market Research, Reports, and Statistics. (n.d.). Retrieved from https://www.ibisworld.com/united-

states/market-research-reports/wig-hairpiece-stores-industry/

ltd, R. and M. (n.d.). Hair Wigs and Extensions Market - Global Outlook and Forecast 2019-2024. Retrieved from

https://www.researchandmarkets.com/reports/4847031/hair-wigs-and-extensions-

ltd, R. and M. (2020). Research and Markets - Market Research Reports - Welcome. Retrieved May 24, 2020, from

https://www.researchandmarkets.com/

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McGraw-Hill Irwin.

Reportlinker. (2018, October 4). The global hair wigs and extension market is estimated to reach revenues of more

than $10 billion by 2023. Retrieved from https://www.prnewswire.com/news-releases/the-global-hair-wigs-and-

extension-market-is-estimated-to-reach-revenues-of-more-than-10-billion-by-2023-300723847.html

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Atlanta Business Industry

Import
Domestic penetration into
Revenue IVA Establishments Enterprises Employment Exports Imports Wages
Year Demand the
($m) ($m) (Units) (Units) (Units) ($m) ($m) ($m)
($m) manufacturing
sector (Years)

2003 154 39.7 33.0 32.0 541 13.5 610 31.2 751 25.3
2004 152 39.8 33.0 33.0 548 13.6 638 30.8 777 26.4

2005 119 32.1 27.0 26.0 442 11.1 646 24.1 754 24.8
2006 142 37.4 33.0 32.0 542 13.8 754 28.7 882 25.8
2007 160 44.1 38.0 38.0 629 18.3 879 32.4 1,021 26.0
2008 200 52.0 48.0 48.0 803 26.0 877 40.6 1,052 27.2

2009 216 54.2 53.0 52.0 874 28.8 883 43.8 1,071 26.4
2010 243 64.3 60.0 59.0 993 35.8 1,140 49.2 1,348 28.3
2011 209 56.2 53.0 52.0 873 36.4 1,389 42.4 1,562 29.5
2012 184 50.4 47.0 47.0 780 40.1 1,408 37.2 1,551 30.4
2013 226 62.6 59.0 58.0 978 45.5 1,311 45.8 1,492 31.6
2014 249 69.3 66.0 65.0 1,096 46.0 1,243 50.4 1,446 30.4
2015 238 66.2 64.0 63.0 1,058 44.4 1,468 48.1 1,662 30.8
2016 217 60.2 59.0 59.0 977 39.7 1,466 43.9 1,643 30.7
2017 243 65.7 63.0 63.0 1,065 47.0 1,481 48.2 1,677 31.0
2018 247 66.7 64.0 64.0 1,083 47.2 1,493 49.0 1,693 31.2
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Hair loss caused by physical damage.

Hair loss for medical reasons

Alopecia