Entrepreneurship has become
increasingly important in our society as a source of innovation and an example
of how people are capable to develop their own projects. It is also important
because it allows independence and economic stability. Entrepreneurs need the
support and the advice from others who have been through the same path. 1 Million Cups is
an organization that mentors entrepreneurs in different communities and gives
them the opportunity to receive feedback. When I visited the Orlando YouTube
Channel where the presentations of the business ideas in the city can be found,
I was drawn by the Spoiled
Rotten Marketing concept. Rebecca Bormel, the manager of the
company, exposed the presentation. The company was created one year ago aiming
to merchandise luxurious spas and salons in the area and offer special packages
with 90% of discounts for the clients. The packages are very attractive, since
massages that otherwise would cost $500 dollars will be available for just $50.
They offer a greater discount than other companies such as Groupon. They assist
the spas in attracting new clients, increasing the visits and building
long-term relationships.
The principal strength of this concept
is its price, which is compensated with the high number of visits. Their social
impact in the community is highly interesting, as they do a lot of fundraising
in favor of charity organizations with the sells of the Spa Books. The
company is planning to open new offices in Tampa, Jacksonville and Chicago.
They started with three clients, and nine months after they have already
reached almost a hundred, which stresses the fast growth of the business.
However, the challenge is to find people to sell the product to new spas and
salons. This is a weakness as their sales model is Business to Business. During
the presentation, the manager was focused on their services, but she did not
talk much about their own marketing process. I think they have a big challenge
in promoting the web page and showing to the market how good are their prices
comparing to other options. They have to promote the benefits they offer as the
possibility to find spas close to the client's home or office, the possibility
to buy gift certificates and that they do not have block-out dates as many
online purchases. As an expansion strategy they should think about selling
franchises across the country. I loved the concept because the spas win and the
final customers win too. It is an excellent option for women who are looking
for luxurious spas but with an affordable price.
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