STRATEGY CAPSTONE
Capstone Project Brief – Holistic Hair
Case company background:
Holistic Hair was established in 2006 and sells premium plant-based hair care products. It is located in Auckland and offers a wide range of products. In 2015, the company was acquired by new owners who are passionate about natural products, sustainability, environmental and social impact. Despite being a small company, the current management is looking to increase the range of products, focus on sustainability, increase digital engagement, and enter new markets. They have teamed up with Cleanhub & CarbonClick to fight climate change and are in the process of acquiring BCorp certification. Holistic Hair mainly sells through hair salons, health stores, pharmacies, and online channels in New Zealand. They also have a significant proportion of sales in the international markets, mainly in Asian countries. The company has been growing steadily to reach a sales turnover of $1 million (approximately) in 2021. The company has successfully faced the business challenges caused due to COVID – 19, but sales were adversely impacted, particularly in the Chinese market, which suggested a need to look for other international markets. For more details about the case company, please visit the company website at: https://holistichair.co.nz/
With a successful track record of stable growth prior to COVID-19 lockdowns, Holistic Hair is now looking to enter the US market in 2022. In particular, the company is interested in understanding the haircare market in the US for its products. As a small-to-medium-sized enterprise (SME), Holistic Hair has limited financial, staff, and management resources, so the market entry strategy needs to be completed on a reasonably limited budget and efficiently deploy its resources successfully.
Company challenge – A Market Entry Strategy for the USA
How can Holistic Hair successfully enter the US haircare market with its current range of products within the next 24 months?
Student project options:
Multiple options are available for students to answer this challenge. We recommend that you focus on developing a suitable market entry strategy for the US market. Holistic Hair is particularly interested in detailed market analysis focusing on competitors (e.g., competitive landscape, pricing, etc.), potential customers (e.g., pain points, etc.), and identifying viable value propositions.
Task Details:
Develop a strategic plan for Holistic Hair to implement in the next 24 months that answers the company challenge in a written report for the management team. Consistent with the final project rubric, your final report must include at least the following components:
1. Executive summary
2. Internal analysis
3. External analysis
4. Problem definition
5. Strategy formulation (including alternatives to your final recommendation) and,
6. Strategy implementation (including timelines).
You do not need to follow these section headings exactly, but the relevant content must be evident. Your report should adopt a company-report style (vs. academic-report style) and use the Chicago citation style for referencing. The report should include footnote references in the text and a list of references at the end. You should incorporate tables, figures, and graphics within the body of the document, along with the source of their information. You are strongly encouraged to prepare your reports visually impactful and use data visualisation, where possible. Your appendices should provide supporting materials for your arguments but are not critical to the main report. For example, you can discuss the relevant market size estimates or financial metrics in the report body but show the detailed calculations in the appendices. The final report should not exceed 4000 words (excluding the references and appendices).
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