Target Market: Our target market needs to be a manageable size when it comes to providing for our customers. It is unlikely that we would initially be overwhelmed by tourists coming to the area immediately. Once we establish a name in the valley, our business will definitely grow with our reputation. Tourism is without a doubt a major source of income for many people living in the area, both Wyoming and Idaho. Local knowledge and support can also be a successful way to reach our target market. We want to become something that has both the locals and visitors talking about us.
About the market:
-In a 2012 Idaho public poll, 92 percent of Idaho voters agreed that recreational activities on the states land are an essential part of Idaho's economy. Released by the Idaho Outdoor Business Council, the poll also found that Idaho's active outdoor recreation economy supports 37,000 jobs and produces $2.2 billion annually in retail sales and services across the state.
-The most recent Jackson Hole Economic Dashboard was released in November of 2013, by the Wyoming Chamber of Commerce. These numbers are meant to provide members with the information that affects business in the Jackson Hole area.
-Visitation at the Grand Teton and Yellowstone National Parks was down between 4 and 7% in the past six months. The author notes that this is also affected by the government shutdown, between Oct 1-16th.
-Jackson Hole Ski Resort has shown little change in visitors, showing a less than 1% increase of visitors from January to October 2013, when compared to statistics from 2012 and 2011.
-The amount of business licenses in the Jackson Hole area were up 10% in October 2013, in comparison to October of 2012.
-The top ten list of employers in the past year in the area were as followed:
By this information, we can see how recreation influences this area. In addition to this information, another helpful resource I came across during my research was an economic development plan that was compiled for Teton County, Idaho. In the 56 page devlopment plan, they discuss issues regarding agriculture, industry, and of course, recreation and tourism. On page 38, the plan discusses marketing techniques that will be applied to the marketing objectives for tourism in Teton County. The list proposes has different ideas for each objective and is as follows:
Goal C1: Develop a focused tourism marketing and branding strategy
-Str. C1a: Attract regional tourists to the Teton Valley
-Str. C1b: Get tourists to stop when traveling through or near the Teton Valley
-Str. C1c: Provide and promote special events and competitions
-Str. C1d: Identify target marketing to a focused group of potential visitors
-Str. C1e: Develop a Teton Valley brand
-Str. C1f: Create an information portal for visitors to the area
With this list, it is easy to see how the area is encouraging the growth of recreation and tourism in the Teton Valley. If these strategies are pursued in the valley, the market for visitors will continue to grow. This is a good thing to look for as a potential guiding business. The common goal for attracting people and their spending money to the valley would be great for my business.
About the market:
-In a 2012 Idaho public poll, 92 percent of Idaho voters agreed that recreational activities on the states land are an essential part of Idaho's economy. Released by the Idaho Outdoor Business Council, the poll also found that Idaho's active outdoor recreation economy supports 37,000 jobs and produces $2.2 billion annually in retail sales and services across the state.
-The most recent Jackson Hole Economic Dashboard was released in November of 2013, by the Wyoming Chamber of Commerce. These numbers are meant to provide members with the information that affects business in the Jackson Hole area.
-Visitation at the Grand Teton and Yellowstone National Parks was down between 4 and 7% in the past six months. The author notes that this is also affected by the government shutdown, between Oct 1-16th.
-Jackson Hole Ski Resort has shown little change in visitors, showing a less than 1% increase of visitors from January to October 2013, when compared to statistics from 2012 and 2011.
-The amount of business licenses in the Jackson Hole area were up 10% in October 2013, in comparison to October of 2012.
-The top ten list of employers in the past year in the area were as followed:
- St John's Medical Center
- Jackson Hole Mountain Resort
- Four Seasons Resort Jackson Hole
- Teton County Government
- Terra Resort Group
- Grand Targhee Resort
- Snow King Resort
- Xanterra Parks and Resorts/ Yellowstone
- Grand Teton National Park
- Town of Jackson
By this information, we can see how recreation influences this area. In addition to this information, another helpful resource I came across during my research was an economic development plan that was compiled for Teton County, Idaho. In the 56 page devlopment plan, they discuss issues regarding agriculture, industry, and of course, recreation and tourism. On page 38, the plan discusses marketing techniques that will be applied to the marketing objectives for tourism in Teton County. The list proposes has different ideas for each objective and is as follows:
Goal C1: Develop a focused tourism marketing and branding strategy
-Str. C1a: Attract regional tourists to the Teton Valley
-Str. C1b: Get tourists to stop when traveling through or near the Teton Valley
-Str. C1c: Provide and promote special events and competitions
-Str. C1d: Identify target marketing to a focused group of potential visitors
-Str. C1e: Develop a Teton Valley brand
-Str. C1f: Create an information portal for visitors to the area
With this list, it is easy to see how the area is encouraging the growth of recreation and tourism in the Teton Valley. If these strategies are pursued in the valley, the market for visitors will continue to grow. This is a good thing to look for as a potential guiding business. The common goal for attracting people and their spending money to the valley would be great for my business.