Deco Wood Decoration LLC analysis has a defined target market client that will be the basis of building this business. This client is identical for both the residence and office spaces, but the target market is identical based on her different roles for each of those spaces.
Analysis effective marketing combined with an optimal product offering is critical to the Deco Wood’ success and future profitability. The owner possesses solid information about the market and knows a great deal about the common attributes of those that are expected to be prized and loyal clients. This information will be leveraged to better understand who Deco Wood will serve, their specific needs, and how to better communicate with them.
The profile of the Deco Wood Decoration client consists of the following geographic, demographic, psychographic, and behavior factors:
- A 20-mile geographic area is in need of the products and services offered and do not intend to pursue the Denver market at this time.
- The total target market population is estimated at 24,000 based on the following demographics.
- Female, married and have attended college.
- Have children, but they are not necessarily at home.
- A combined household annual income greater than Aed 10000
- Age range of 35 to 55 years, with a median age of 42.
- Owns their home, townhouse and/or condominium valued at over Aed 425,000.
- They and/or their spouse work in a professional setting and may have interior design requirements for their office space as well as their homes.
- The appearance of her home is a priority.
- Entertaining and showing her home is important.
- She perceives herself as creative, tasteful and able, but seeks validation and support regarding her decorating ideas and choices.
- She reads one or more of the following magazines:
- Martha Stewart Living.
- Country Living.
- House Beautiful.
- Country Home.
- Metropolitan Home.
- Traditional Homes.
- Elle Decor.
- If she does seek out television as an information source for home decorating that is most likely to be “Martha Stewart” and, on a lesser basis, “Interior Motives.”
- She takes pride in having an active role in decorating their home.
- Her home is a form of communicating “who she is” to others.
- Comparison positioning and stature within social groups are made on an ongoing basis, but rarely discussed.