Ready, Aim, Fire!
Part of this week’s task is also to learn about our target market, and what gets you more in the mood for a target market than target practice? But seriously, our target market is probably more confusing than you’d expect…
(also apologies for the lack of tables in these tasks, I cannot actually create tables in this format)
. . . . . . . . . our idea.
Plan: Tom of Finland Themed Festival
- Where: South-West Finland (preferably Tom’s home town)
- When: Summer months (more specific date to be decided
- Duration: 3 days camping (with an option of an extra two days in a hostel to encourag foreigners to visit).
- Age Restriction: 18+
<iframe src=”//giphy.com/embed/cAINv6oNV0ZaM” width=”480" height=”288" frameBorder=”0" class=”giphy-embed” allowFullScreen></iframe><p><a href=”https://giphy.com/gifs/concert-audience-festival-cAINv6oNV0ZaM">via GIPHY</a></p>
So of course the idea of this entire topic is to encourage tourism. However, we don’t see why we have to restrict ourselves to ONE type of tourism, thus we have opened ourselves up to both domestic and foreign tourism. As we feel that Tom of Finland as a brand is hugely inclusive, we also want to try and keep it inclusive. Therefore in general our plan is as follows:
- Ages attending: 18+
- Ages targeted: 20–30
Domestic Specific Factors
- Common Occupations targeted: Students, Writers, Artists
- Other Occupations expected: All types.
Foreigner Specific Factors
- Location: America and Europe (those in EU or with Visa-Free Access)
- Common Occupations targeted: LGBT groups, Artists, Writers
- Other Occupations expected: Any Full-Time workers. Hopefully students.
Why We Think This Will Work
The next big thing in marketing isn’t just innovations in products and services, its innovations in what we offer. Experiential Marketing is still relatively new, and something that festivals (such as Tomorrowland) are capitalizing on.
People in our target age group are looking for more than just a service, but an experience. Sky-diving, snorkelling, sleeping in igloos, are just some of the products I’ve seen marketed to me that now use the idea of the “experience” not the activity itself.
People aged between 20 and 30 are always looking for a new way to be adventurous, so we say why not come to Finland and party like Tom of Finland. Its the chance of a lifetime.
Domestic Target Group
- People aged 20–30 in Finland: Roughly 700,000
- Money Spent on Finnish Students: “Finland increased its expenditure on education in absolute terms at all levels by 6% between 2008 and 2010" (which would encorporate much of our target group)
- Money Spent on Finnish Writers: “Writers’ median income for writing fiction in Finland is EUR 2,000 a year. Various grants account for a significant share of writers’ incomes — grants and other income related to the writing profession raise the median income for writers to EUR 9,745 a year”. These grants are provided by the “public sector”. They also provide steady social welfare and determine it differently to other occupations. They are also not taxed as they are considered to be sustaining themselves through art, and receive a pension.
- Money Spent on Finnish Artists: essentially a similar support system to the writers in Finland.
- Fun facts/observations about 20–30 year olds: Apparently they love heavy metal, coffee, milk and some interesting traditional sports according to this article. As well as that students in particular love badges and overalls.
Foreign Target Group
- No. of 20–30 year olds: According to the US Census, There are “46,524,790" people aged between 18–30 in America. According to Eurostat, in the EU in 2015, “persons considered to be of working age (15 to 64 years old) accounted for 65.6 % of the population”. As well as this the highest percentage of young people was found to be in Ireland (22.1%).
- LGBT Groups: While not official total figures, funding is definitely provided within the EU for LGBT rights, for example, “ £124,000 on a five day conference for 200 homosexual, bisexual, transgender and “intersex” activists”. Contrastingly, in america, money is spent on fighting LGBT groups and rights by the government/society.
- Artists and Writers: In America, “Federal funding to the National Endowment for the Arts (NEA), created by Congress to offer support and funding for art projects, remains static at $146.2 million a year, with [an] annual budget of $158 million”. In the EU its completely subjective depending on the country, however it is an often debated subject on if the EU should allow for an artistic budget.