Swimwear – Research on the Target Market
Essay Preview: Swimwear – Research on the Target Market
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For most women, finding the perfect swimsuit is anything but glamorous.
Selecting one for your figure-type and individual style requires personal attention.
At Jenal Swimwear, this is our mission..
The population of Sydney as of June 2004 was 146,297. According to the 2004 edition of the Australian Standard Geographical Classification (ASGC). Australias estimated resident population (ERP) at June 2004 was 20.1 million, an increase of 238,700 people compared with June 2003. This represents an annual growth rate of 1.2%, the same as the average annual growth rate for the five years to June 2004. Population growth in the Sydney SD in 2003-04 equated to an average increase of 640 people per week.
According to the ABS Sydney has a median age of 33
Women of all sizes want fashion choices that fit their bodies and their lifestyles. The average woman is a size 14 but most swimwear caters for smaller sizes!
What we are seeing in todays swimwear industry is;
* A limited range that caters for larger bust sizes
* Loose fit in the bra
* Limited opportunity to mix and match with sizes
Jenal swimwear aim to provide:
* Under-wire bra, which will come in cup sizes A through E
* a large range of swimwear that cater for larger busted women.
* The ability to mix and match pieces, therefore giving the customer the opportunity for a full breasted women to select a top that fits her own larger cup size, and combine that top with a small bottom, if that is her figure type.
* Opportunity to participate in the design of their own swimming costume
Having the ability to mix and match pieces give the customer the opportunity for a full-breasted woman to select a top that fits her own larger cup size, and combine that top with a small bottom, if that is her figure type.
Literature Review
Research on the Target Market
The target market process allows the break down of these groups of people in order to better understand them. According to Berry .T (2004) the more detail you know about your “ideal” customers and clients, the better you will be able to make them aware of your products and services, and how to purchase them through you. He further states that to create a target market profile you need an analysis of the following;
Geographic
Equally decisive on what and how the consumers buy is where they live, and in order for the fashion industry to market its products it must know how the population is distributed throughout the country. Eg (Post code)
Demographic
Demographic segmentation consists of dividing the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race and nationality. Demographic factors are the most popular bases for segmenting customer groups. One reason is that consumer needs, wants and usage rates often vary closely with demographic variables. Another is that demographic variables are easier to measure than most other types of variables. Even when market segments are first defined using other bases, such as personality or behavior, their demographic characteristics must be known in order to assess the size of the target market and to reach it efficiently.
Psychographic
In addition to demographic data, fashion marketers also make substantial use of psychographic data, which is the information on peoples attitudes, values and beliefs as they affect behaviour. Although less exact than demography, psychography can help marketers understand what motivates consumers to buy products, how much their lifestyle affects their attitudes towards a particular product and contributes to their purchasing decisions.
In Psychographic segmentation buyers are divided into different groups based on socio-economic status, lifestyle or personality characteristics. People in the same geodemographic group can have very different psychographic profiles.
Behaviours
Behavioural segmentation divides buyers into groups based on their knowledge, attitudes, uses or responses to a product. Many marketers believe that behaviour variables are the best starting point for building market segments.
Target marketing allows you to reach, create awareness in, and ultimately influence, that group of people most likely to select your products and services as a solution to their needs
Research on the marketing needs
According to Costantino. M (1998)