Local Demographic
The city of Preston is a potential market for Preston Outdoors. The current statistics on hunting and fishing in Preston is appealing to the firm. The population statistics on hunting and fishing activities gives a positive image of a potential market. The total population in the town as of 2011 was 5,230 people. This is a high number which demonstrates that market in Preston is potential.
There are around 1,743 households with an average of 3 people per household. In regards to hunting and fishing activities, one should mention that residents of Preston are mailnly involved in these two activities. The survey results obtained from 60 people give a clear picture on the percentage of people who like hunting and fishing constituting a high proportion of Preston’s population.
The majority of the population shop in Preston 80% being local citizens while the remaining 20% are foreigners. This is a clear indication of the strong local market for fishing and hunting in Preston. Based on this statistics, a strong interest in hunting and fishing in Preston can be clearly demonstrated (CLRsearch.com 1).
Growth Potential
There is a high growth potential in Preston which translates to a bigger market size for outdoor hunting/fishing store. The current market size is projetected at 1,360 households. The 2011 census puts the population of Preston at 5,230 people. This is a good size which can help Preston Outdoors to attain its planned objectives.
The number of people engaged in the conducting of the survey is only 1.38%, which is small compared to the population living in the town. It must be noted that the actual number of people interested in hunting and fishing activities is definitely bigger than the projected figures. There is a higher growth potential of Preston based on the overall economic and social development.
Infrastructural development and favorable climate form the basis for a large number of clients in hunting and fishing activities. The number of foreigners is expected to increase from the current 20% to over 30% in the coming months. The frequency of engagement in the fishing and hunting activities is high, meaning that there is the future for the industry development in the town.
In particular, Preston Outdoors has a high growth potential due to the high number of people going for hunting and fishing activities. The high percentage, that is, 95% of the population is willing to buy at Preston being a clear indication of high growth potential of Preston Outdoors since it will attract the local market (Idaho.gov 1).
Customer Benefit
Preston Outdoors offers three primary customer benefits including location, seasonal product, and bow tuning services. To begin with, the convenient location of Preston Outdoors will save customers’ time since they will not have to travel long distances. The business will benefit customers through the provision of seasonal products.
The business will not only offer unique products for each season but also offer comfort to match customers’ needs. Bow tuning service will be beneficial to customers through the provision of more convenient services.
Advertising, better environment, seasonal sales, customer’s guide, archery accuracy, service hour, and coffee will also be added to customers’ benefits. By providing these benefits to customers, Preston Outdoors will stand out as the best partner to the local customers in Preston (Nykiel 132).
Works Cited
CLRsearch.com. Lewiston, Idaho Demographics. 2012. Web.
Idaho. Fish and Game. 2012. Web.
Nykiel, Ronald. Handbook of Marketing Research Methodologies for Hospitality and Tourism. New York: Routldge, 2007. Print.