Target Market Analysis Paper

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Market Analysis
Target Market Identified
The target market is high school and more primarily, college-aged students who are enrolled in stage management or technical theatre courses. The market could also be expanded to individuals who are theatre enthusiasts or hobbyists. The average customer age is 20 years old and the average annual income is $18,000 (IBIS World, 2015). The average level of education is a high school diploma and some college. The cost of customer acquisition is calculated by dividing the total costs of acquisition by the number of new customers acquired within a specific period. It is estimated that the first year’s marketing plan will cost $1,000 and will result in 450 new customers. The cost of a single customer acquisition …show more content…
Of those students, nearly 2% or 408,000 are technical theatre or stage management students (Bureau, 2017). The number of students enrolled in college is growing each year and was previously 5.1 million in 2000 (Bureau, 2017). Additionally, the number of technical theatre and stage management students is increasing as there is an increased popularity in performance theatre and Broadway musicals. Since 2010, there has been a 21% increase in technical theatre majors (Bureau, 2017). The increase in students and theatre majors alike show a positive and increasing trend for this demographic and suggest a growing market for Stage Manager Heaven.

Competition
Stage Manager Heaven has both direct and indirect competitors. There are few direct competitors as Stage Manager Heaven focuses on a relatively new idea. A largest direct competitor would be CafePress which sells personalized and customized gifts such as Stage Manager apparel and items. This is a strong competitor for Stage Manager Heaven as CafePress is a well-known customizable online retailer with a wide variety of product. Other direct competitors include Zazzle and CustomInk.

The largest indirect competitor would be an office supplier like Office Depot. Commercial chains such as Office Depot sell the majority of the supplies needed for a stage manager kit. They have the advantage of providing a wide variety of items and options for customers. Other indirect competitors include Staples, Vistaprint, and local office supply
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