TARGET MARKET | OCTOBER 2021
Target Market
Presented by Tanusree Karthikeyan
Target Market
Target market analysis Demographics Pain points
Types of target market Target strategy
...and more important topics
TARGET MARKET | OCTOBER 2021
Target Market Assumptions of customer groups
The target market is composed of men and women, 18-35 years of age, with mid-range incomes. The target customer is very fashion-forward and trend-conscious, residing in the metropolitan, urban and suburban areas. These customers are either shopping for themselves or for their children. This target market is sensitive towards having the most up to date and fashionable clothing and accessories but at an affordable price.
TARGET MARKET | OCTOBER 2021
Target market Analysis
Total Addressable Market
Served available market
Target market - Phase 1
The
considers
India, the country lacks affordable
The first phase of the target market
fashion products/ clothes as a
fast-fashion brands with exclusivity.
will include customers from the
staple product. But the global
Penetration into this market will
southern parts of India. Response
domination of selected fashion
require
based reach will slowly help us to
brands limits purchases.
consumers and expertise.
TARGET MARKET | OCTOBER 2021
whole
world
a
solid
base
of
loyal
dive into a larger market.
Online ads 17.4%
Pre-teens 14.3%
Adults 23.8% Metropolitan 33.3%
Social Media 43.5%
teens 19%
Suburban 22.2%
Mass media 21.7%
Print media 17.4%
Urban 29.6%
young adults 42.9%
Media Consumption
Geographical position
Demographics
Media
affects
Majority of Online shoppers belong
The primary target audience
customers in a very large scale. In
to metropolitan cities and urban
belong to the age group of teens,
this modern era, Social media is a
areas.
young adults. Interacting and
major denominator in influencing
plays an important role in customer
engaging this group of audience is
purchase decisions.
tastes and preferences.
very important for brand building.
consumption
TARGET MARKET | OCTOBER 2021
Geographical
positioning
Target Market Data
Semi-urban 11.1%
Rural 3.7%
Pain points FACED BY THE TARGET MARKET
Sizing mishaps
Privacy concerns
TARGET MARKET | OCTOBER 2021
Financial constraints
Personal insecurities/ mismarketing
Lack of exclusivity
Sizing mishaps
Privacy concerns
Financial concerns
Personal insecurities
Lack of exclusivity
Customers face difficulty in
Privacy concern has a negative
Monetary loss or delay in
lack of confidence in online
online exclusivity
attaining the correct size from
influence on online spending.
refunds causes customers to
should be maintained to
the size charts and have
Providing personal information and
information technology causes
avoid online shopping. In India,
customers to rely more on
avoid confrontation with
the majority of teens/young
offline shopping methods.
offline retailers on
Personal insecurities such as
pricing and other issues.
confusion arising from different size variations offered by different brands both online and offline.
TARGET MARKET | OCTOBER 2021
identity theft pose as a threat to certain customers. Selected customers prefer their delivery address and other information to remain unknown or shifted.
adults do not have credit/ debit cards preferred for online shopping.
low self -esteem also hinders online shopping.
Types of Target Market INFLUENCERS
PROSPECTIVE BUYERS
FIRST-TIME BUYERS
Influencers of a brand belong to vast audience groups. These members also include the individuals who are a source of word of mouth marketing for the brand. Influencers in the fashion industry or related industries help the brand reach a wider audience group but they have to maintain authenticity throughout.
Prospective buyers are the target audience who will become loyal consumers of the brand in the future. Brand experience must be focused and exhibited to this group of the target market. Brand Community building impacts this target market more than the gimmicky call to action.
First-time buyers will be the new set of audiences who will be welcomed by our brand's online shopping experience and online presence. These customers must be provided with a call to action for a simpler and smooth shopping experience. TARGET MARKET | OCTOBER 2021
Influencers
Reviewers / Referrers
Bloggers & Content creators
Enthusiasts
Customers who purchase
Bloggers and Content
Customers who take part
products to review and
creators who are paid to
in contests held by the
recommend them to
do promotions on behalf
brand and build
people surrounding them.
of the brand.
communities by being a part of the brand.
TARGET MARKET | OCTOBER 2021
Values: product quality; affordable price range; product reach; engagements; community; VALS (Values, Attitude and Lifestyle)
being heard and seen Attitude: No product efficiency; actualisers and innovators; experiences; socially active; great communicators Lifestyle: socially active and family oriented, independent.
Activities: talking, advising, recommending and supporting a cause, advertising,
Influencers
AIO (Activities, Interests, Opinions)
showcasing and influencing, showcasing their talent, standing out to be unique. Interests: trying new varities of products, switching alternatives and comparing, grooming themselves, affliation and building communities. Opinions: very opiniated and judgemental.
Assumptions
Quality, Price affordability. Engagement, Popularity, reach, Benefits sought
personal brand development, Self esteem, belonging, selffulfillment.
TARGET MARKET | OCTOBER 2021
Occasions
New product launches, events, festivals, Birthdays, anniversary, Content creation, brand launch, contests.
Prospective Buyers
Shopaholics
Students/office goers
Nightowls/Party lovers
Consumers who are trendy and
Consumers who constantly
Consumers who visit popular
fashion-oriented who shop
have the need to dress up
nightlife spots. The people
regularly. Frequent shoppers of
regularly and feel confident.
who enjoy at clubs, discos
clothing and accessories or as
These customers include
and other nightlife spots tend
some like to call them,
students and office goers.
to be quite trendy and
“Shopaholics”.
fashionable.
TARGET MARKET | OCTOBER 2021
Values: fit, style, colour, trends, durability, portability, friendly, comfort, dressing up, having fun and
VALS (Values, Attitude and Lifestyle)
enjoying life. Attitude: fashion oriented, constant need to buy and has a lot of perseverence, presentable, carefree, highly brand concious and fashion-forward. Lifestyle: spending family time, going out, community building and self- improvement, being socially active and creating new connections.
Activities: sports, arts and self-expression in various different forms, partying, Going to restaurants, dancing
Prospective Buyers
AIO (Activities, Interests, Opinions)
Interests: fashion trends, Brand and celebrity endorsements, varied and mixed types of interests,watching movies, new shows and being up to date when it comes to social topics. Opinions: highly opinionated and social.
Assumptions
Benefits sought
Self fulfillment, Status, value and brand symbols, Self- respect, status, prestige, self-esteem, belonging.
Urge to buy new products, Birthdays, Festivals, To feel motivated,
TARGET MARKET | OCTOBER 2021
Occasions
interview, meetings, culturals, fresh starts, product launch, brand launches, themed parties.
First time Buyers
Time savers
Analysers
Discount hunters
Consumers who rely on search
Customers who are very tech-savy
Customers who are price sensitive
engine
and
and rely on reviews given out by
and
reviews. These customers click
their favourite YouTuber/influencer.
discounts. Price point is usually the
on
These customers assume, compare
most
and analyse to gain knowledge
consideration
followed
about the look and feel of the fabric.
shipping
‘sale,
oriented
websites
results
and
purchase
products quickly to save time.
purchase
during
offers
important and
and
purchase by
discount,
free or
promo’ right behind it.
TARGET MARKET | OCTOBER 2021
VALS (Values, Attitude and Lifestyle)
Values: time and effectiveness over efficiency; options and variations, authentic reviews,offers, free shipping, sale, discounts and price deductions. Attitude: multi-task and perform various activities single-handedly, overspend. Lifestyle: independent and productive; hectic; family-oriented Activities: sports/fitness, working, problem solving, create assumptions and analyse
First time Buyers
AIO (Activities, Interests, Opinions)
Assumptions
Interests: planning, delegating, finance and technology, varied interests in different fields. Opinions: Searches for opinions instead of expressing theirs.
Benefits sought
Self actualisation, order and stability, Durability, belonging, value for money, self fulfillment
Offers and sales are held, curiosity about the brand, festivals and
TARGET MARKET | OCTOBER 2021
Occasions
gifting, new product launch, new trends, curiosity about the brand, birthdays.
Target Strategy How to target these markets?
Influencers are active publishers. The best influencers are also
Influencers
ones that not only broadcast to a larger audience but have an engaged audience. To get them to talk, we have to create the right content that helps them, right when they need it.
By using the correct mediums so they can access
Prospective buyers
your content conveniently. By creating call to actions preferred and suitable for them.
TARGET MARKET | OCTOBER 2021
These customers must be engaged by FAQs, search
First time buyers
ranking in order to create brand awareness. Product look, feel and reviews must be exhibited in forms of shopping guides.
Interest stage
Desire stage
Action stage
Catching up the customers
Customers are in need of
This is the most crucial stage
In this stage the customer
attention within 5-6 seconds
information about the brand and
of purchasing. Customers at
purchases, reviews and gives
must be the key operation
it's products. This is where
feedback about the product.
during this stage. in this stage,
cognitive progression plays a
this stage must be constantly
Testimonials are to be subtly
Producing relatable content,
role. AnticipatIng the needs of
targeted and reminded of their desire and want to
showcased to customers in
purchase.
stages 1 & 2.
keeping up with the trends and creating brand awareness is very vital.
TARGET MARKET | OCTOBER 2021
the visitors, their mindset, and the information they expect to see is very important.
Targeting stages
Attention stage
Target Market Assumptions