After doing market segmentation we have determined that our target market is jewelry designers who sell their products in the retail market, and bead stores in Canada.
This category consists of either designers who have their own accessory store or who sell their designs to stores who then sell them to the public. This customer should be able to easily meet the $150 minimum. Things they will know when coming into the showroom are:
1. What they want
2. Know the material cost of their pieces
3. Know their mark-up
4. Know the market costs relevant to the industry
5. Know seasonal trends
6. Know their customers and what they want
Other things to consider about designers are:
1. They want repeatable product that is easily re-ordered
2. They want matching components
3. They will appreciate the good quality product
4. They have a designers eye and look for unique components
5. They can be very picky about what they want and not be acceptable to suggestions often
Finding these customers is easy. Most of them use their actual names as their business names and retail stores that have more than one designer’s lines promote the name of each designer. Knowing the characteristics of these customers the questions that need to be asked are very simple.
1. Where they sell their product?
2. Do they create quantities or one of a kind?
3. What materials they mostly use in their designs?
4. What are their best selling designs?
There are many bead stores across the country that cater to the hobby designers. The hobby designers keep these people in business because they aren’t buying quantity and aren’t worried about their mark-up. Bead stores are very price conscious when they buy their stock. They want to know how much they will make when they sell each item. They are also interested in repeatable product. They are mostly found in city pockets located very close to each other. Being conscious about which items are being sold to which stores will keep the confidence of this customer. They want to know that they are not just one of all the others.