STRENGTHS:
Our value proposition is well aligned with our customer needs for personal grooming essentials, as well as creating synergy between our products and our services. Our services, such as a hot shave for example, use our shaving cream and aftershave, which can also be purchased as products off the shelf. From here, people may tell friends and family about the experience they had in-store and extend our network of clients through WOM. The channels that we reach our customers through would be efficient, effective, and easily accessible. They are well matched to our customer segment and strongly integrated within one another as well. For example, His Man Friday's website is connected with our Facebook and Twitter accounts and vice versa.
WEAKNESSES:
The two man issues in this area are that key resources and key activities are easily copied/replicated. Our services and products are not complicated and can easily be duplicated, but there is no one currently offering this kind of experience in the market solely for men. We may be able to lessen our weaknesses by generating a service or product that is more difficult to copy - placing a patent on products would be one way to do this.
OPPORTUNITIES:
His Man Friday has a very high value proposition since we can convert our products into services, or rather use our products within our services, making them very well integrated with one another. Apart from value proposition, revenue streams are also up there because our prices are slightly higher than the average product you would find at a local grocery store or Wal-Mart but there is also an opportunity to increase the price of products and services if desired. We also have the ability to add and create other sources of revenue for the brand, like new products or services, and make sure they they are a reoccuring revenue rather than a one time transaction. Customer relationships are one of our top priorities, and they are what keep people coming back. We have to focus a great deal of attention on this component and there will always be potential to improve customer follow up. Having their information in a computer system with a list of products that they purchased last time they were in the store will help us get to know the customer and their needs. We would also benefit a lot form a growing market; a greater target market would allow an increase in our customer base, serve new segments that enter the market, and then we can further refine segments to better serve them still.
THREATS:
The majority of our threats comes from competitors. Competitors being less expensive and in many locations, like Wal-Mart, Shoppers Drug Mart, grocery stores, etc. all contribute to our threats. Customers may opt for other venues to get their products from but we will set ourselves apart by our services that are integrated into our experience.
PROFORMA:
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