The first step to developing a target market for this company will be based on what product the company is offering (that is, what need the company's product will fulfill). Subsequently, we will consider the competitors already in the market, i.e. competitor analysis and lastly, determine what segment of the population the company cater for.
Target market: The target market for this start-up firm are pet owners in those communities that commercial airlines fly and within that segment, the focus will be on communities with higher rate of Pet ownership. Hence, we assume that the target market chosen by the pilots are Vermont, New Mexico and South Dakota. According to research done by Dogtime website,Vermont has a 70.8% rate of Pet ownership in the United State Compared to other state followed closely by New Mexico, and then South Dakota with 65.6% (DogTime, 2012). We assume these states to be the target markets for such the firm because of the high rate of pet ownership which in turn will lead to high demand for the airlines offering such services.
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Although, the market is already saturated with competitors, we must understand the type of product the competitors offer and what the customers really want to be able to stage a successful market entrance and win most of the market in the long-run. Further, this can be achieved through relative advantage, which we hope to bring to the market and set us aside from the