4.1 Market Segmentation
Although the flash and excitement of impending nuptials can be intoxicating, it can also be overwhelming. Therefore, we primarily market our services to the people who need them most--brides and grooms. In 1997, 2.4 million marriages took place in the United States. According to the Encarta Encyclopedia, the current US marriage rate of nine marriages per 1,000 people is still the highest rate among the industrialized countries. This marriage rate is expected to remain at the same level in the near future. In the Eugene, OR area where TLC Wedding Consultants plans to operate their business, over 1,500 marriages are registered each year, which creates a sizable market potential for this line of business.
Another customer segment is represented by the numerous family members and guests attending weddings, anniversaries, and similar events. This segment requires event preparation services like gift ideas, etiquette tips, etc.
Besides the wedding arrangements, which TLC Wedding Consultants believe to be their major client assignments, other events the company will provide services to include corporate retreats, etiquette training, etc. This customer segment is estimated to have the annual volume of 1,000 orders in the Eugene, OR area.
Market Analysis (Pie)
Market Analysis 2000 Potential Customers Growth
Brides & Grooms Family Members
1,500 1,575 1,654 1,737 1,824 5.01% 5,000 5,250 5,513 5,789 6,078 5.00%