Target+Market+Analysis

=__**Target Market & Their Needs**__=

Brampton is the 3rd largest municipality in the Greater Toronto Area. As per the results from 2011 Census, Brampton has seen a growth of 20.6% in population between the 2006-2011 period[1]. With the various housing projects and companies moving their offices or facilities to Brampton, the city is poised for sustainable growth. Number of youth accounts for almost 14% of the city’s population, as of latest data from 2006 Census (age and gender data from 2011 Census hasn’t been released yet). In addition, working age population (20-64) accounts for 63% of the population. These are great numbers that would contribute to the marketability of our client.

Target market for our client would be working parents with children with ages ranging from 5-17 in Brampton and surrounding areas. Based on research of age range of students that currently taking music lessons, the average would be 10-14 years old. Currently enrolled students reside in the city of Brampton. Median private household income (as of 2006 data), of Brampton is around $72,000, which can be deemed middle class[2]. For them, pricing and value of a service is very important. They would not be inclined to pay a hefty amount for a non-essential service, and would only be interested in the service if they see good value for their money. Our target market would need a music lesson facility that offers affordable rates than bigwigs of the industry such as Royal Conservatory of Music. As the majority of Brampton’s population is middle class, parents may not always have the disposable income to spend on non-essential services. Sending both kids to learn piano may not be on the top of their priorities, compared to saving up for their colleges. Hence, getting great value out of a service is important to the target market. The middle class parents may not mind spending the money, as long as they are assured of a good investment.Additionally, flexible scheduling is an important need. As our target market has both parents working full time jobs, they need a looser policy on accommodating classes missed on short notice. Instead of losing a class and have money go to waste, middle class working parents would be more inclined to spend their money on music lessons if they were assured that their children can make up any missed classes throughout the year.

On top of flexibility and affordability, location of the service in relation to the city is also a key factor. It is important for the service to be easily accessible via public transit or driving. A major percentile of the Brampton population utilizes the public transit, as attested by 61% growth of transit use between the years of 2006 to 2011. [3] As the parents would be busy with work, students may use city buses to commute to the music studio instead of relying on getting rides from parents. Since the target market is working parents, location should also be closer to the downtown core, to make for a quick drop off or pick up from the location before or after work for the younger students that are not mature enough to use public transit on their own.

__How our Client meets the needs__
Our client, Academy of Music Brampton, is well suited to cater to the needs of the target market. As mentioned previously, the average age of students ranges from 10 to 14 year olds. The music studio has both male and female teachers that excel in creating a fun and engaging environment for the students. Students of this age group would be more interested in learning a new skill, if they have fun while doing it. Not only do the teachers provide a fun environment, the students are not limited to or restricted to learning by a curriculum. While there will be a structure to the lesson, students are not compelled to follow strict guidelines, and have the freedom to learn and play different songs. For students that are interested in pursuing further certification, Academy of Music does have Royal Conservatory of Music (RCM) courses available. Ability of the teachers to create an engaging learning environment is a motivating factor for 10 to 14 year old demographic to pursue their passion in music.

Since our target market is middle class, Academy of Music has affordable rates compared to other studios. Similar to other music studios, our client offers lessons in different instruments, vocals, etc. While rates of other studios differs based on the type of lesson or level of instructor, our client has a flat rate of $23/half hour across the board. Regardless of type of instrument or level of learning, everyone pays the same rate. More importantly, flexibility in make up classes also makes it less expensive. Other studios have a strict policy of make up classes. Some limit the number of classes you can make up, say 2. Others require a 24 hour notice, or else it is considered a lost class. When it comes to Academy of Music, parents or students are required to give only a 2 hour notice, and are free to schedule make up classes without being capped at a number. Our client understands that everyone has last minute emergencies or delays be it parent working late and can’t drive their son to piano lesson or student’s soccer practice ran late, missed the bus and can’t make it in time. Being flexible and affordable adds to providing a great customer service experience. Great customer service experience assures the parents that their money is a good investment.

Academy of Music Brampton is located near the intersection of Main St N and Vodden St. The location is accessible via Brampton public transit and is a short ride from Downtown Brampton (Queen and Main St). Such advantageous location serves well for students who would use public transit for getting to their lessons, and parents who would need to drop off their kids after work from Downtown core.

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