Blog Post #3: Analyzing a Company's BHAG

A BHAG is an acronym for a Big Hairy Audacious Goal. It refers to establishing long-term goals and planning to achieve them. The company I chose to analyze is Ulta. Ulta Beauty is America's largest beauty retailer, providing cosmetics, fragrances, skin care, and hair care products as well as salon services. Ulta's BHAG is to create more stores and encourage Ulta Beauty associates, communities, partners, and investors to achieve successful careers through inspiring beauty brands.

Ulta's BHAG goal of opening more stores throughout the world will be a success because it allows the company to think big and prepare for long-term success. Ulta's goal is to provide professional opportunities for its customers, and they are deeply committed to the growth of women. Ulta has already begun implementing this strategy by partnering with Target and opening more Ulta locations in Target. This is a smart marketing strategy because it gives beauty brands an opportunity to expand and grow in a new, industry-leading omni-channel retail experience.

This BHAG marketing strategy will offer Ulta a long-term competitive advantage by allowing it to stand out from its competition. Ulta's excellent supply chain ensures that all Ulta Salons are always fully supplied. Ulta also distinguishes itself from its competition by offering distinct items ranging from affordable to luxury brands. Ulta has over 700+ locations across the United States, and building more stores would help Ulta to expand, diversify, and exceed their competition.

Competition and labor shortages are two challenges for Ulta's BHAG long-term goals. Sephora is Ulta's biggest competitor. Ulta emerged almost 20 years after Sephora. This BHAG goal may be difficult for Ulta to attain if Sephora continues to expand. Because there are more positions in the labor market than accessible employees, expanding and starting new businesses might result in labor shortages. Overall, Ulta utilizes smart marketing strategies. They can achieve their aim of expanding if they remain devoted to it.