Description of the Primary Target Market
A primary target market is a segment of a market section that the business believes will provide an opportunity for it to sell its products or services. My full-service beauty salon business seeks to attract these potential consumers to purchase the services and products that it offers. Various methods of segmentation are applicable in the determination of this market. First, demographic segmentation measures the size of the business elements such as gender, age, marital status, income level, religion, and race when identifying the target market where potential customers are found (Thomas, 1, p. 2). For instance, the majority of the customers are of the female gender.
The business may decide to create a barbershop parlor within the same building to cater to the demands of the male customers. Demographically, the population of women in the population provides a lucrative opportunity for the sales of beauty products (Susan, 2). They comprise both married and single women seeking beauty products and services. Secondly, geographic segmentation is based on the target market location resonating with the consumers. For instance, potential consumers can have access to adverts in print media, websites, and marketing emails (Thomas, 1, p. 4). Lastly, psychographic segmentation is based on the preferred socioeconomic lifestyle. For instance, the social status difference provides different target markets for customers who exhibit variations in making choices.
Reasons for the selection
The first point to mention is that targeting both genders will give the business a competitive advantage over other beauty salons since it will attract new opportunities. Furthermore, it is important to note that easing the distribution of beauty products will facilitate a timely meeting of deadlines. Additionally, increasing purchases by consumers boost the profit margins of the salon.
Description of the Secondary Target Market
A secondary target market segment identifies the individuals who are likely to purchase the services and products but are not ready to engage in transactions promoting sales. Therefore, there is a need to convince and persuaded them since they exhibit trust issues. Their needs are less urgent compared to those of the individuals in the primary market. Market segmentation provides an opportunity of identifying and seek unwilling customers (Susan, 2). For instance, this segment considers attracting the operators of a beauty salon who seek to make purchases of beauty products.
Furthermore, the business will be concerned with understanding the preferred costs required by the consumers. The focus is on making the product available and affordable by offering promotions, coupons, discounts, and providing sponsorships to build trust with the targeted secondary market. Niche marketing segmentation adoption as a strategy creates a secondary target market satisfaction (Susan, 2). For instance, the business concentrates on youth and young women’s acquisition of beauty products and services.
Reasons for the selection
Branding my products offered for sale creates a unique variety for the target market. The secondary target market will expand the target market, increase sales and help business operators to understand why consumers make purchases. Furthermore, the secondary market segmentation would assist in building trust within their target market since they provide the relevant and required clarifications by the use of coupons, discounts, and marketing promotions. Focusing on press statements and sponsorships can also boos trust within the targeted secondary market as it divulges more information about the product offered for sale.
Justification of Full-service Beauty Salon as the Solution
The beauty market has failed to cater to the market niche needs arising from both genders. Furthermore, it focuses more on female youths and young female adults. My full-service beauty salon that has sections for a barbershop and beauty parlor provides a good environment that will prioritize both genders irrespective of their ages. The formulated acquisition channels for beauty products will facilitate the timely delivery of the relevant products essential in meeting the consumers’ preferences and anticipations. Furthermore, using the relevant system for advertisement and distribution channels will facilitate and build a good working relationship with the customers and increase the market base.
References
Thomas Jason E. 2016. Exploring Primary Target Market Segment Buyer Motivation for Martial Arts Businesses. p. 1-176.
Susan Ward. 2020. Target Marketing and Market Segmentation.