Identifying a Target Market

Introduction

This report will provide a market target analysis of Hanndia Pest Control Service Pty Ltd. Hanndia Pest Control Services, specialise in working with real estate agencies to manage white ant infestation of rental properties, by applying an environmentally friendly fumigation barrier. The main office is located in the Brisbane City council suburb of Calamvale, South Eastern Queensland, with a total of 20 employees. This includes the manager, field officers and administrative support. The purpose of this report is to identify the market target for Hanndia Pest Control Services. In order to achieve this, the report is structured to firstly analyse the market segmentation variables and secondly buyer behaviour. The conclusion will bring together these findings by distinguishing Hanndia Pest Control’s market target.

Segmentation

Segmentation is the process of determining the breakdown of the target market into smaller specific variables that make it easier to evaluate. Gabbott M (2004, p 159) describes the consumer related segmentation variables as being Geodemographic, Psychographic and Behavioural.

Geodemographic

This segmentation variable combines the elements of the consumer’s demography and geography. These are the measurable characteristics of the consumer’s age, gender, cultural diversity, occupation, income level, family life cycle and their physical geographical location. (Gabbott, M., 2004, p. 159-160).

Age and Population

Hanndia Pest Control Service is located in the Queensland capital Brisbane. According to the Australian Bureau of statistics (2006), “3218.0 Regional Population Growth” the local Brisbane City Council population, as at June 2005, was 971,757 persons with a median age of 34.9.

Interstate migration of 75,000 persons attributed to QLD highest growth in population in 2004-05 (ABS, 2006). The population of Brisbane has shown an increase of 2.3% from November 2005 to October 2006. Therefore this population increase is of benefit to Hanndia Pest Control Services, as the population arrives many more properties will be built and rented out to accommodate the growing demand for accommodation, and the need for ongoing protection from white ant infestation.

The Residential Tenancy Authority (RTA), (http://www.rta.qld.gov.au, 2006), recorded the number of residential bonds held, as at 30 September 2006, as 114,035 dwellings, including 49,740 house dwellings. The rental bonds were lodged by either private owners or by a real estate agency managing these dwellings. Therefore Hanndia Pest Control Services will target the real estate agencies operating as managing agents of these dwellings.

Occupation, Education and Income

Hanndia Pest Control Services will target the real estate agents who support the upper market investment home owner, they will be in a professional agents managing for dwellings for owners that have a professional or technical occupation, are between the ages of 30 and 50, are in a combined income range of $75 - $150 thousand dollars per annum.