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Ulta Beauty Business Plan

1272 Words6 Pages

1. Business description. Introduce the company business briefly. a. The company I choose for my project is the beauty retailer ULTA Beauty, Inc. ULTA has a wide selection of cosmetics, fragrance, skin care products, hair care products, and salon services. They offer a large variety of products, so it can be your one place to stop to buy anything beauty related. They also offer salon services, such as hair, skin, and eyebrow service. Company Motto: All Things Beauty. All in One Place.TM 2. Segment breakdown. a. What is(are) the core segment(s) of the company? i. ULTA Beauty has 3 core segments, which are hair, skin health, and brows. b. How much sales and profits are generated by each segment? i. In 2017, salon sales increased 15.0% to …show more content…

Threat of substitutes i. A huge threat to ULTA is not being able to product differentiated. That products they sell other than their personal line can be found in other small and larger retailers. These retailers consist of department stores, salons, drug stores, online capabilities of national retailers, catalog retailer, and even television home shopping retailers. Many of ULTA competitors have better resource so they will be able to adapt quicker to changes in customer requirements than ULTA. Hence, they can lose market share that will affect the business. ii. Ways ULTA can tackle this threat is by being service oriented rather than just product oriented. They must make sure they can keep current customers and attract new ones by providing a great service. By doing this most customers would rather go with ULTA than their competitors. c. Bargaining power of customers: i. ULTA success comes from the fact that they are a one-stop for everything Beauty with a wide selection of products. Also, being able to provide customers with information on new beauty trends. If they are unable to provide this information to the customers and update their catalog when new beauty trends appear to the market, ULTA can lose market value. They constantly must know what customer require or are looking for in beauty

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