Question

Kim's Kayak Tours identified active retirees living in the retirement community nearby as one of her potential target markets. She knows she can tailor her service and marketing message to the schedules and interests of this audience. What are some ways this business can differentiate itself from direct and indirect competitors? How will Kim evaluate the attractiveness of this segment?

Answer 1

The business can differentiate itself from the competitors by

(a) Customising Kayak tours according to the fitness levels, food habits, medical conditions, interests and paying capacities of the target population.

(b) Integrating the activities related to socialising, weekend get together, fun and food themed outings and other community events with tours, making it the part of their day to day activities.

(c) Individualisation of the tour packages involving small group of people having similar interests, and conducting tours the way they want.

(d) Do it Yourself tour packages where the customers will list the places or events, and the company will make them a tour.

(e) Arranging tours for super senior citizens, with doctor on board, round the clock assistance and conduction as per their comfort level.

Attractiveness of this segment can be evaluated with help of a survey that involves a study of the lifestyle and preferences of the target customers like their favourite pastimes, events and places, their frequency of taking leisure breaks, challenges faced during such breaks, their medical conditions, their spending capacity and their degree of willingness to explore their external environment among others. This information will help to evaluate the size of target market and  potential revenue the company might expect to start with. It will also make the company aware about the issues and challenges faced by the target groups and the company's competency in resolving them and carving out an opportunity out of it.