with respect to my impending business...the reality and thoughts that surround that are never-ending. One of the most important things one must think about when providing a product to consumers is what's the target market. a Target market is exactly what it sounds like. it is the market that one is trying to sell to. it is the market segment that I would be trying to attrack with what i can provide them. Target market is based upon age, gender, geography and other demographics.
Since my entreprenurial venture is going to be owning my own Manhattan based boutique, the target market is very important. Having been born and raised in Manhattan, having the store also be in Manhattan is an absolute must. With respect to my target market, i will carry clothing for women ages 18-55. I don't mean to sound naive but I really believe that it doesn't matter what age you are, you should wear whatever looks good on you and makes you feel good. That is why the range of women who can shop at my boutique is so wide. Although I will carry things for most ages, my primary target market would be for women ages 18-35. Because i cannot stand stores that sell me crap...excuse my french, i will be shopping for a higher end clothing, so the price points of my clothing will be higher than that of the GAP or Old Navy. my prices will be more in line with clothing sold at Bloomingdales and other boutiques.
OHHHHHHH so much to fathom. The reality is....unless this economy picks up....there's really no room for upscale boutiques. pray for me.
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