Research On The Development Strategy Of Shandong S Beauty Company

With the development of economy and the improvement of people’s living standards,the beauty industry has come to the forefront of the times.By the end of 2021,there were 149,000 professional beauty stores with 767,000 employees in China,with a turnover of 375,540 million yuan,an increase of 20%over 2013,an annual composite growth rate of 6.3%,and a wide industry space.Shandong S Beauty Company was established in 1999,headquartered in Weifang City,Shandong Province,with its main business area of traditional beauty.Since its establishment,the company has been steadily cultivating in the field of traditional beauty.Up to now,there are 83 branches in Shandong Province,which have accumulated strong financial strength and more than 90,000 customers in the beauty industry.However,as competition in the traditional beauty field becomes increasingly fierce,S company is facing increasing external competition pressure.At the same time,medical beauty institutions are thriving.According to the "Better Beauty 2021 White Paper of the Medical Beauty Industry",the size of China’s medical beauty market will continue to grow at a high speed in 2022,with growth rate exceeding 16%,and the market size will reach 264.3 billion yuan.As a traditional beauty organization,S company is also facing a huge impact from the rise of many medical and aesthetic organizations.According to the special survey and investment prospects of the Chinese cosmetic industry in 2022-2027,the penetration rate of the Chinese mainland market and per capita disposable income has not yet matched.At present,the penetration rate of the Chinese mainland market is only 7.4%,which is far less than 42%of South Korea.The mainland medical beauty market has a huge development demand.At this time,for Shandong S Beauty Company,external development opportunities and threats coexist.This paper takes Shandong S Beauty Company as the research object,carries out strategic research on its development direction and goals,and analyzes strategic choices and corresponding measures,which is representative.This paper takes Shandong S Beauty Company as the research object,makes in-depth analysis around its development status and future development goals,uses many methods such as literature search,interview,induction and summary,uses PEST analysis,five-force model to analyze S Company’s external environment,starts from two aspects of resources and capabilities to analyze S Company’s internal environment,and summarizes the opportunities,threats,advantages and disadvantages faced by the S company.With the help of external factor evaluation matrix and internal factor evaluation matrix,the SWOT analysis is constructed,and the relevant diversified development strategy is analyzed,which is most suitable for guiding S company’s long-term development.At the same time,it is proposed that S company can take several major development strategy implementation measures,such as launching medical beauty projects,building online platforms,and building medical beauty focus.It also provides feasible suggestions for the implementation of its development strategy from financing,human resources,publicity strategies and other aspects to ensure the realization of the company’s long-term development goals.