EXtatin is aware that, after the completion of its R&D program, market adoption and sales will become the true measures of success and has a clear strategy to penetrate the market and drive sales. EXtatin understands its customer needs and will create franchising and licensing opportunities to drive buying stimulus programs that will promote dermatologists’ and customers’ purchases. Although we are not currently selling product(s), the company plans to launch global commercialization efforts ideally by the end of 2020. EXtatin has an effective go-to-market strategy that will not break the bank. Our commerce transactions will be entirely B2B franchising/licensing and its segmentation and target market is clearly identified as the many millions of dermatological and consumers wishing, for a diverse number of reasons, to remove unwanted tattoos – a market that is growing exponentially as the tattoo industry is growing exponentially with no signs of slowing down even in times of global recession.
Target Market and Market Potential
Even though the targeted market is a niche market, it is untapped at the moment and is growing daily with the increasing incidence tattooed persons and the increasing prevalence in popular culture worldwide as evidenced by reality TV shows that are based on the tattoo arts. That is, EXtatin’s targeted market is mature, emerging, and growing exponentially. The company’s total potential market size is estimated at $10B or much more. The scientifically-verified excerpt below, courtesy of Wikipedia.org, is a summary of the most current data available that describes the size of EXtatin’s target market.
Note: All figures are estimates only and may be reviewed or changed or corrected at any time.
Motivation For Tattoo Removal
A poll conducted in January 2012 by Harris Interactive reported that 1 in 8 (14%, 8M) of the 21% (65M) of American adults who have a tattoo, regret getting one. The poll didn't report the reasons for these regrets, but a poll that was done 4 years prior reported that the most common reasons were "too young when I got the tattoo" (20%), "it's permanent" and "I'm marked for life" (19%), and "I just don't like it" (18%). An earlier poll showed that 19% of Britons with tattoos suffered regret, as did 11% of Italians with tattoos. Surveys of tattoo removal patients were done in 1996 and 2006 and provided more insight. Of those who were polled, the patients who regretted their tattoos typically obtained their tattoos in their late teens or early twenties, and were evenly distributed by gender. Among those seeking removals, more than half reported that they "suffered embarrassment". A new job, problems with clothes, and a significant life event were also commonly cited as motivations.
The choice to get a tattoo that is later regretted is related to the ‘end-of-history illusion’, in which teenagers and adults of all ages know that their tastes have changed regularly over the years before the current moment, but they believe that their tastes will somehow not continue to grow and mature in the future. As a result, they wrongly believe that any tattoo that appeals to them today will always appeal to them in the future.
Some wearers decide to cover an unwanted tattoo with a new tattoo. This is commonly known as a cover-up. An artfully done cover-up may render the old tattoo completely invisible, though this will depend largely on the size, style, pigments, and techniques used on the old tattoo and the skill of the tattoo artist. Covering up a previous tattoo necessitates darker tones in the new tattoo to effectively hide the older, unwanted piece. Many tattoos are too bright to cover up and in those cases patients may receive laser tattoo removal to lighten the existing ink to make them better candidates for a cover up tattoo. Of course, replacing a tattoo with another tattoo does not rectify issues regarding the stigma (or in some cases discrimination and depression) connected to having a tattoo in the first place.