IV. Customer Analysis
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Profile of Target Market
[Company Name]will serve the leisure travel market of [Insert location] and its immediate surrounding area.
The market we serve is value-conscious and has a desire for high comfort and basic amenities geared towards the family and comfort travel.
U.S. leisure travelers are more likely to book a trip this year, relying on a new resourcefulness fostered by the belt-tightening times of the Great Recession, according to new findings from a partnership/Harrison Group survey.
The number of domestic trips by US residents has turned the corner since the recession.
- Direct spending on leisure travel by domestic and international travelers totaled $650.8 billion in 2015.
- Spending on leisure travel generated $99.6 billion in tax revenue.
- Nearly 4 out of 5 domestic trips taken are for leisure purposes (79%).
- U.S. residents logged 1.7 billion person‑trips for leisure purposes last year
- Top leisure travel activities for U.S. domestic travelers: (1) visiting relatives; (2) shopping; (3) visiting friends; (4) fine dining; and (5) beaches.
The demographic profile of the target market can be seen below:
|Target Population by Age|
|Age 18 to 24||9.99%|
|Age 25 to 34||13.08%|
|Age 35 to 44||12.94%|
|Age 45 to 54||14.64%|
|Age 55 to 64||12.43%|
|Median Household Income||$57,639|
|Households w/disposable income|
|Income $50,000 to $74,999||18.03%|
|Income $75,000 to $99,999||12.97%|
|Income $100,000 to $124,999||8.65%|
|Income $125,000 to $149,999||5.40%|
|Income $150,000 to $199,999||5.12%|
|Income $200,000 and Over||5.34%|
We will primarily target the following three market segments:
- The U.S. Leisure Travel Market: Travelers to [Insert Area or City] tourist attractions such as the Museum of Fine Art and the Annual Film Festival, as well as visitors to social events such as weddings.
- The U.S. Business Travel Market: Travelers to [Insert Area, City] corporations and events.
- International Tourists: Last year, there were over 903 million international tourist arrivals worldwide, with a growth of 6.6%. International tourist receipts were $856 billion, according to tourismroi.com.