target consumer
Demographics: Our business will target anybody that can afford one of our yachts, with the minimum age required being 18. We will target both male and females, that can be married or divorced, with either a huge or small family.
Psychographics: We would like our consumers to be happy, successful people that have a purpose in life. They should have the best lifestyle a person could ask for, and not be afraid to spend alot of money.
Geographic: We will always be in a hot climate for obvious reasons, and we will start our business highlighting the Florida region, and eventually moving to other parts of the world.
Socioeconomic: The occupation is irrelevant of our consumers, the only concern we have is if they have the money required to purchase our product. With our consumers best interest in mind, we tailor our yachts to anybody's preference. If their income cannot afford to maintain this yacht for the rest of their life, then they should probably look into a smaller boat type.
Psychographics: We would like our consumers to be happy, successful people that have a purpose in life. They should have the best lifestyle a person could ask for, and not be afraid to spend alot of money.
Geographic: We will always be in a hot climate for obvious reasons, and we will start our business highlighting the Florida region, and eventually moving to other parts of the world.
Socioeconomic: The occupation is irrelevant of our consumers, the only concern we have is if they have the money required to purchase our product. With our consumers best interest in mind, we tailor our yachts to anybody's preference. If their income cannot afford to maintain this yacht for the rest of their life, then they should probably look into a smaller boat type.
competitors analysis
Their are thousands of competitors out there, but unlike them we charge a ridiculously low price for what we have to offer. Tiger woods purchased a 20 million dollar yacht that has no casino for sure, and hardly anything of a spa. We charge half the price for a yacht that has both, and will be able to be customarily rendered to our consumers standards. Further down the road we also plan on adding waterfalls to our spas, and a pool that has a see through floor to view the casino.
market research
We will conduct not just one, but multiple surveys throughout the years to ensure that our consumers are getting everything they want out of our products, and is a primary source of research from the precise answers we are asking for. We will also be hosting focus groups all throughout the country, that our vice president will be conducting. These focus groups will have one way windows, and will allow us to get the best results from the 1-2 hour sessions. This is also a source of primary research. Finally, we will be creating prototypes within the next few months, and will undergo a field trial that will determine whether or not it will stay on the market. This is a source of secondary research. We have chosen these types of research because we feel that they will allow us to benefit our business the most, and will drive our company in the direction we are destined to go.
Marketing mix
After researching the average cost of your standard 50' tall yacht, we found that they will run a person around $2,000,000. But unlike the average yacht, the TBNH200 features a casino inside, and a Mediterranean spa that will blow consumers away. We figure we can charge consumers around $10,000,000 for yachts with a casino and spa, and $5,000,000 for yachts that only includes one of the options. We have chosen to use cost plus pricing, and have added a substantial mark-up only because of how unique our yachts truly are. We have a location in Florida, USA that has been placed on a beach to ensure maximum attention towards our business. We also have managed to sign a contract for a commercial that will attract customers and even suggest a rental option for our yachts. Since our yachts vary in size and luxuries, the prices vary as well. But one thing that all yachts have in common is the fact that they are all built custom to how our consumers prefer. These variety of choices that make our yachts so spectacular include flooring, entertainment, relaxation, fitness, sports, and even groceries! Some promotions our business will have include free groceries for a month with the purchase of any yacht, free gas for a month with the purchase of any yacht, and for the first month of business operation we will charge 50% off our entire inventory. We have also included a promotional flyer that will guarantee us the attention we need to eventually become a famous international business.
Swot analysis
Strengths: Both business owners contain Entrepreneurial personalities, aren't afraid to take risks but wont take them unless they are realistic goals that are beneficial on our behalf. We are located in one of the most well known, highly populated place in the USA, and our commercial/sign is bound to attract traffic. The market for yachts are sky-rocketing, and we have potential
Weaknesses: Neither of us contain college or university degrees, and have virtually zero experience in the yacht business. We have charged a substantial amount for our yachts, which could result in our business taking longer to take off.
Opportunities: In the near future, we plan to migrate to every continent on the globe, and possibly link up multiple cruise vacation corporations to ensure maximum profits in the company.
Threats: Other companies that are run by individuals that either obtain a college or university degree, and can differentiate their business from ours in a positive fashion.
Weaknesses: Neither of us contain college or university degrees, and have virtually zero experience in the yacht business. We have charged a substantial amount for our yachts, which could result in our business taking longer to take off.
Opportunities: In the near future, we plan to migrate to every continent on the globe, and possibly link up multiple cruise vacation corporations to ensure maximum profits in the company.
Threats: Other companies that are run by individuals that either obtain a college or university degree, and can differentiate their business from ours in a positive fashion.