Target Markets

The Main Markets that these products will benefit most in are Coastal communities and towns. With the main target markets being:

  • Tourists - both interstate and international

  • Individuals - those who love and enjoy the ocean

  • Families - mainly those with young children

  • Older Age groups - grandparents & grey nomads

 

Why are the main reasons these markets purchase art:

  • Souvenirs

  • Gifts

  • Personal enjoyment

The Ideal Customer

When researching potential markets we need to look at what personality traits our ideal customer base would have. To do that lets look at a few of the characteristics we see in our customers:

  • Likes art

  • Female

  • Mid income earner

  • Possibly has children, grandchildren or works with children

  • Likes animals

  • Lives near or likes to visit coastal areas

  • I personality type or ‘the player’=impulsive, creative, social, risk taking. Doesnt like rules/details & fears rejection

The Tourism Market
Art Buyers
Tourists

Due to the fact that my product is best suited to the travel market for tourists (both interstate, intrastate and international), I have chosen this as my target market. As a result it is important that I understand the seasonal changes and statistics effecting tourism in Western Australia.

 

According to Tourism Western Australia's research team's latest publication on Visitor Statistics (September, 2014) 67% of the $8.3 billion dollars spent by visitors in W.A. were in fact Intrastate day tripers. However dispersal rates were a bit different with 62% visiting the Perth region, 22% visiting the South West and only 6% visiting the Coral Coast.

 

In regards to International markets the top five highest visitor countries were:

  • United Kingdom

  • Asia

  • Singapore

  • Other Europe

  • New Zealand

Dispersal rates were similar to intrastate statistics, and the main purpose for visiting was for Holidays or to visit Family and Relatives.

 

When looking into Inerstate visitors the main purpose for travel was for business with 64% visiting from either New South Wales or Victoria.

 

Tourism Western Australia (2014), Visitor statistics; Fast facts. Retrived from 

     http://www.tourism.wa.gov.au/Research-Reports/Latest_Visitor_Facts_and_Figures

 

 

 

 

 

 

 

 

When looking at tourist markets there are a few key factors that need to be taken into account, these include:

 

Space, when travelling space is limited so an option is to provide postal services where you feel it is needed. Or promote the convenience of smaller items for travel space.

 

Time of year, for example summer time in Australia is when most international people travel to experience the iconic Australian beach lifestyle. So ensuring you are prepared at this time of year to encourage the sales.

 

Weighing up options which is a stage in the consumer’s decision making process. Planning in advance for this means that you can ensure the information you are giving the customer will make them feel confident in your purchase over another.

 

Mementos from an experience. If a tourism customer has had an experience such as a humpback whale tour or a kangaroo wildlife experience, then they are more prone to purchase something that relates to this experience as a memento.

Consumers purchase Art for various reasons, however a few personality traits can be generally categorised to help us ascertain the best way to approach potential buyers:

 

  • Category A: Particular Buyers – these types like to be sure they are purchasing the best possible art for their needs and that it will fit in their house in a particular area. They see it as a good investment.

  • Category B: Emotional Buyer – I like to learn as much as I can about the art, I like to have a story I can tell my friends. They can often form a connection and fall in love with the idea of art and what it means.

  • Category C: Delayed Buyer – this type likes to take their time to make a decision, they may come back a couple of times before they decide. They may even need to run their decision past others before they decide and they will need to believe that they trust you in the decision making process. Often these types may miss out on the sale whilst they are still considering it, so a time frame can be of use with this category.

  • Catergory D: Decisive Buyer – this category are for those who know exactly what they want and what they are looking for. They do not like to be sold a sales pitch or to be talked to during their decision making process. They will approach you when they are ready.