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Profile of Target Market
[Company Name]will serve the business 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 business traveler’s lifestyle.
The AH&LA writes that “the typical business room night is generated by a male (65%), age 35-54 (50%, employed in a professional or managerial position (44%), earning an average yearly household income of $85,900. Typically, these guests travel alone (56%), make reservations (90%), and pay $112 per room night.”
The business traveler market is also described by the National Household Travel Survey of US Business Travel as follows:
“The typical business traveler is likely to be male; work in a professional, managerial, or technical position; be 30 to 49 years old; and have an incomewell above the population average.
Men account for more than three-fourths (77%) of business trips. This compares to nonbusiness travel where men take 54% of the trips and women 46%.
Those who consider their occupation to be professional, managerial, or technical account for over half (53%) of all business trips. This occupational category represents only about 40% of the general population. Sales or service workers account for the next largest share of business trips, 28%. On the other hand, clerical/administrative workers account for less than 4% of business trips even though they represent almost 12% of the population.”
|30 to 34 years||6.60%||6.80%||6.50%|
|35 to 39 years||6.30%||6.40%||6.20%|
|40 to 44 years||6.70%||6.70%||6.60%|
|45 to 49 years||6.90%||7.00%||6.90%|
We will primarily target the following three market segments:
- The U.S. Business Travel Market: Travelers to [Insert Area, City] corporations and events.
- 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.
- 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.