TJX Diversification: Sampling for TJX Beauty and TJX Pet’s

The fortune 500 company I will be diversifying is TJX. TJX is known for its brands such as T.J. Maxx, Marshall, Homegoods, HomeSense, and Sierra. The TJX’s franchise’s claim to fame is its sale of high-end items for a discounted price. The brand has sold everything from apparel to home décor all at a discounted price.

What I want to do to diversify the brand is to create two other brands under the parent franchise of TJX. The first one is a beauty brand, TJX Beauty, that will high-end haircare, skincare, and makeup all at a discounted price. The second brand I want to create for the TJX franchise is a pet supply company called TJX Pet’s, this store would sell pet supplies as well as pet toys and pet accessories.

The target market I have determined for TJX Beauty are women between the ages of 18 to 35, who are making an average wage is between $20,000 to $60,000. I have determined this demographic after analyzing potential competitors demographics in the beauty industry. The company’s demographics that I viewed were Ulta Beauty and Sephora, their sales statistics and consumer behavior allowed for me to determine that this was the audience TJX Beauty should be advertising to.

The target market I have determined for TJX Pets are people from the ages of 35 to 50, who make an annual income between $60,000 to $100,000. Like the research I conducted for TJX Beauty, I also analyzed potential competitors for TJX Pet’s like PetSmart and Petco. When analyzing these statistics, I concluded that this was the primary target market for pet supplies. Another method of research I did to determine this target market was investigate the main age groups for people who have pets which was people from the ages of 35 to 50.

When it comes to creating new companies there must be a lot of research and sampling that is done to best understand the target audiences wants and needs. I will collect these samples by utilizing the TJX franchise established database of customer information. I will use this database by finding people that fit the demographics for each company I am creating. Once I have found these people that fit the demographics, I will invite them to participate in in-person and email surveys to best understand their wants and needs in products. To entice them to participate in these surveys I will give them discount codes and gift cards to any TJX brand as compensation for their time.

Leave a Reply