Market Analysis Summary
The market can be broken down into two groups, those that are buying the products for a gift, and those that are buying it for themselves. 80% of the consumer market for pottery is adult females.
4.1 Market Segmentation
The market can be segmented into two different groups:
- People that are purchasing the pottery for other people. This segment is looking for a gift for someone and want something that is unique, and stands out relative to most other dishware. This segment often will be purchasing from the production line of dishware
- People that are buying pottery for themselves. Some people have a very specific idea/style in mind and are more likely to opt for a custom design. Custom work is more expensive and typically more unique, it is intuitive to expect that the more unique design, the more likely that the person is buying the product for themselves.
4.2 Target Market Segment Strategy
These two groups will be targeted by developing visibility for Kaolin Calefactors in areas that people interested in fine, handmade dishware can be found, including participating in local craft fairs. Local craft fairs are a gathering of different crafts people that set up booths displaying all of their creations. People that are looking for unique, handmade designs, will often come to the craft fairs to view a wide selection of products.
Kaolin Calefactors will also have a website that will extensively detail all of the different production designs that are available. In addition to the production items, Sue's portfolio of past and present designs will be available online to offer suggestions for custom designs.
Lastly, all of the products, particularly useful in the retail sale of the KC products in craft stores, comes with a little card that details information about Kaolin Calefactors, Sue, and the website. The website is advertised heavily in this flyer, encouraging people to visit the site and gain insight into the infinite number of custom designs available.
4.3 Industry Analysis
The craft industry is composed of wood workers, ceramics, doll painters, and jewelers. The majority of craftspeople attend weekend craft shows while at the same time maintaining a full-time job. This aspect of having a full-time job and creating crafts for sale is interesting in the sense that people are trying to combine their hobby into a minor money making venture.
The minority of craftsmen turn their hobby into a full-time job, like Sue.
While most craftsmen generally work at home, potters as a subset typically rent out space. Potters typically have more equipment and require more space for the different phases of the pottery, like the drying phase, the post-kiln phase, and then the post-glazing phase.
4.3.1 Competition and Buying Patterns
The competition consists of different sources.
- Commercial dishware manufacturers. This competitor mass manufactures a wide range of dishware. These companies appeal to someone that is looking for general dishware. These competitors serve people that are more interested in function instead of aesthetics.
- Assorted craftspeople. This group of competitors is serving the segment of people that are purchasing the ceramics for gifts.
- Other potters. This group is the most direct competitor in terms of business activities, but not necessarily the most vigorous. The reason they are not the most vigorous competitors is because most potters that sell their products make cups and vases. Therefore, while they are direct competitors, not many are making competing dishware.