Market Research

This article just gives a brief insight into how much it costs to own a horse. I thought this would be useful in developing our pricing strategies.

Alongside this we also made a survey that we posted to both our personal and business social media, we also posted it onto some horse groups on facebook.

There are just some brief questions here to help us further refine the our product and identify what kind of specifications we should be working towards.

Unfortunately, our free trial ran out before we had the opportunity to screenshot our results. But from memory

  • Most people who answered the survey lived in Devon
  • Around 70% of those who answered did own horses
  • Most had only ever had their horse photographed at events, and none had had their horse professionally drawn or painted.
  • 60% would be interested in having their horse photographed.
  • Most people answered that they would be willing to pay between £150–250 and £500+
  • The most popular shots were detail, full body, head shots and outside studio.
  • The only known photographers answered were Mark Harvey and event photographers.
  • The most popular product was the photobook, closely followed by a large format framed print, memory stick and phone case. Nobody wanted a video.
  • Most people would expect the images back within either two weeks or a month, nobody answered within a week.

These answers have been very helpful for us identifying what our potential clients want. I think that photobooks are definitely a way to go, and both Vicky and I have experience using Adobe InDesign to create these, so they should be of relative ease for us to create. The only issue with these, which may not be an issue at all, is that they are very expensive just to produce. We want to be making around a 60% mark up on all products sold so they will turn out to be at the higher end of the price-range.

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