Contemporary Ti Designs Table 2.1: Target Market Forecast Target Market Forecast Grov 2005 Individuals 1,654,91 1,8039231,96627 657,5001,806,6251,969,167 21434239490m0 2.1.1 Market Demographics The profile for the ideal customer consists of the following factors Geographics The United States is the geographic area. This is due to the enormous reach of the Internet as well as promotion and distribution in most of the larger states The total targeted population is 168,000 Demographics Male and female Income ranging from $30, 000-$80,000 Have attended some or all of a 4-year degree program at a university Middle of the road liberal politically. Behavior Factors Enjoy spending their discretionary income on art or jewelry. Have liberal political view Live a progressive lifestyle Table 2.1.1: Target Market Analysis Target Market Analysis rket segments Characteristic Characterist Character 2.1.2 Market Needs Contemporary Ti Design is providing its customers with innovative, creative, handmade jewelry. It will provide the following benefits to their customers Selection: A wide range of jewelry styles, creations, and anodizing schemes Accessibility: Ti design sells direct to the consumer through a network of art/jewelry galleries, and at art fairs and shows. Customer service: The patron will be impressed with the level of attention and service that they receive. This level of service occurs during all transactions with Ti designs from answering questions, to order taking to warranty repairs Competitive pricing: The pricing structure provides the consumer with a good value for handmade jewelry and the craftsmen with a fair profit Page 2Table 2.1: Target Market Forecast Target Market Forecast Potential Customers Growth 2001 2002 2003 2004 2005 CAGR Retailers (galleries) 7% 2,525 2,702 2,891 3,093 3,310 7.00% Individuals 9% 1,654,975 1,803,923 1,966,276 2,143,241 2,336,133 9.00% Total 9.00% 1,657,500 1,806,625 1,969,167 2,146,334 2,339,443 9.00% 2.1.1 Market Demographics The profile for the ideal customer consists of the following factors: Geographics • The United States is the geographic area. This is due to the enormous reach of the Internet as well as promotion and distribution in most of the larger states. • The total targeted population is 168,000. Demographics • Male and female. • Ages 21-43. • Income ranging from $30,000- $80,000. • Have attended some or all of a 4-year degree program at a university. • Middle of the road liberal politically. Behavior Factors • Enjoy spending their discretionary income on art or jewelry. • Have liberal political views. • Live a progressive lifestyle. Table 2.1.1: Target Market Analysis Target Market Analysis Market Segments Characteristic Characteristic Characteristic Characteristic Characteristic Retailers (galleries) ----- Individuals - - - - - 2.1.2 Market Needs Contemporary Ti Design is providing its customers with innovative, creative, handmade jewelry. It will provide the following benefits to their customers: • Selection: A wide range of jewelry styles, creations, and anodizing schemes. • Accessibility: Ti design sells direct to the consumer, through a network of art/jewelry galleries, and at art fairs and shows. • Customer service: The patron will be impressed with the level of attention and service that they receive. This level of service occurs during all transactions with Ti designs from answering questions, to order taking, to warranty repairs. • Competitive pricing: The pricing structure provides the consumer with a good value for handmade jewelry and the craftsmen with a fair profit. Contemporary Ti Designs Page 2