PRANAV Case Analysis Loralie Perez-Miranda

PRANAV  REPORT

By: Loralie  Perez-Miranda
AGSB  MBAH  10B

Initially when the owners opened Pranav, they thought they had found an emerging market in Male Spas. 

Their innovation was to offer spa services in a masculine atmosphere. 

Services would be rendered by women offering haircuts, massages, manicure, pedicure, etc. 

Their set-up was completely different from the traditional barbershop which men have grown accustomed to.


Market research done by the owners was generally incomplete. And what they did have, they did not address all angles despite the suggestions of their mentors.

Location

Their location di not have enough traffic within the mall. It was placed on the 3rd floor, which would not encourage men from the outside to walk in. 

Based on their research, clients went to spas and barbershops based on accessibility. And since their target was men, this provided less visibility and accessibility. 

Men in general walking within the mall are usually accompanied by their wives / girlfriends or families and are rarely alone.

Ignoring the Female Market

Since men are usually accompanied by their female partners, most of the time they would want to spend the time together. 

It is usually the women who direct a large part of spending power. But since their focus and objective was to open a spa for men inside a mall, 

they failed to consider the behaviour of the men.

In addition, the female market spends more than the men on spa services therefore the possibility of this income has been lost. 

The business would have fared better as a unisex spa.

Removing Familiar Comforts

Although in general they wanted a "masculine" look for the spa, there were comforts men usually gain from a barber shop that were removed or taken for granted.

Comfortable barber chairs that swivel and allows for more than 1 treatment to be done were replaced with cheaper and less versatile chairs with less space available. 

Women were placed to do all treatments with hardly any experience in shaving men and giving real barber type haircuts..

What happened next

Eventually, the owners of Pranav had to close shop. Their cash flow was not enough to cover their expenditures.

Location and the untapped female market would have drastically turned their business around were they willing to change their strategy.

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Loralie E.M. Perez-Miranda,M.D.,DPAFP