The cost will decrease over the following years. The financial projections for the next three years are: for 2002 - projected revenues=$939,000; for 2003 - projected revenues=$1,174,000; for 2004 - projected revenues=$1,467. The number of clients will also significantly increase each year: 2,552 clients in 2002, 3,190 clients in 2003, and 3,987 in 2004, compared to Stonewall Barbershop's current 800 clients.
A b) 1. Additional external factors that must be taken into consideration are: customers' incomes, its volume, dynamics, distribution over time, or destination. This factor is the main restriction that may be imposed over buyer behavior. The temporal perspective also influences buyer behavior and cannot be controlled by the company.
2. Social factors that should be considered when choosing the makeover strategy are social class and income, these factors go hand in hand, and they influence the customer's choice of the barbershop style to use. The reference group (which consists in family, friends, and colleagues)...
Every geographic region has its own culture, habits, and consumption behavior. Socio-demographics may widely differ from region to region. Therefore, before implementing any marketing activity, the geographical area in cause must be thoroughly analyzed.
4. Relationships between customers and service providers must be based on trust in the first place, in order to encourage loyalty. An equitable price level is also a way to determine customers to be more loyal (Thomas, 2007). When trying to encourage loyalty among existing customers, companies should go beyond customer satisfaction (Shermach, 2004).
Reference List
Thomas, Paulette (2007). Creating Buyer Loyalty among Price Shoppers. Startup Journal. The Wall Street Journal Center for Entrepreneurs. Retrieved June…
