Evaluation on the Selected Salon Businesses Along Novaliches Bayan, Quezon City Using Competitors Analysis Tool: Determinants for Success Business

Vol.4, No.1

Abstract

This study evaluates the strategic performances of the selected salon businesses in terms of
product offering, promotional strategy, and location by using a competitive profile matrix
(CPM) as a determinant of business success in formulating a company's strategy.

From the results of this study, it appears that the evaluation of the strategic performances in
terms of product offering, promotional strategy, and location based on the competitive profile
matrix (CPM) are "strongly agreed" upon as determinants for the business success of the
selected salon businesses. The problems encountered by the salon businesses revealed that
the biggest problems encountered by the three selected salon businesses were: maintaining
loyal customers is not easy for a salon because of new innovative competitors; price distortion
when other salon businesses cut the rates to attract their customers to the point where it is
nearly impossible for them to make a profit; and difficulties in maintaining the consistency of
income because of unpredictable patronage.

This study recommended that the selected salon businesses should focus on improving the
necessary procedures to maintain their competitiveness by determining the factors that need
to be considered in the processing and development of strategies in terms of product offering,
promotional strategy, and location for having a good and stable relationship with their
customers. Based on the findings, the researcher developed an action plan for three selected
salon businesses.