Target market presentation
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Transcript of Target market presentation
Market size
● Revenue increased by an average of 4.8% from 2004-2008
● Dropped 16% the following year● What is $138.3b x .246?● $34.25 Billion dollars spent by business in
2013(IBISWorld)
Product Life Cycle
State of Decline:● Product saturation● Increasing
Consolidation● limited
technological innovation
Poor Performance:● Soaring crude oil
prices● Bad Economy
Future Outlook
Projected growth through 2017● Economy is slowly recovering which drives
business activity● Technological advances on the way
Entrepreneur Travelers
● Have start-ups● PRIZM: Up & Comers● Risk takers, self starters● Age:18-34● Income: $50,863● No children & own homes● College Educated
Small Business Travelers
● Small business = <500 employees?● PRIZM: Upward Bound● Come from traditional households● Average age 50● Income: $71,690● Have children & own homes● College Educated
Corporate Business Travelers
● Corporation = Legally declared a separate entity from its owners (Incorporated)
● PRIZM: Kids & Cul-de-sacs● Average Age: 34.5 years old● Average Income: $70, 298 per year● Have children and own homes● College Educated● High Percentage of Hispanic and Asian Americans
Recommend Corporate Travelers
● Stabilizing Economy means increased need for business traveling
● Companies are trying to save money on Travel Expenses
● Corporations must travel often regardless of economy
The Corporate Business Traveler
● GBA Survey● 78% prefer meeting in person● 46% travel on a budget● Benefits Southwest
The Corporate Business Traveler
● Five Different Types of Travelers○ Veteran○ Road Weary○ Wide- eyed and Anxious○ Passionate High-Tech○ New Recruit
Travelers by Generational Cohort
● Baby Boomers ○ Largest Demographic○ 40% Business Travel○ Uses Loyalty Programs○ The Veteran Traveler○ Amenities and Lounges
Travelers by Generational Cohort
● Generation X○ 1965-1976○ Not considered Workaholics○ Tech Savvy○ Road Weary Traveler○ Amenities and Lounges
Travelers by Generational Cohort
● Generation Y○ 1977-1994○ The Passionate High Tech Traveler○ Amenities and Lounges