IV. Customer Analysis
[Company Name] will serve the residents of [company location] and the immediately surrounding areas as well as those who work in [company location].
The area we serve is populated mostly by the middle class; as a result, they have the means to pay for higher quality service, and are looking for hair and beauty services somewhere between the deep discounters and the top-end luxury brands.
The Company will primarily target the following three customer segments:
- Families/Parents: The town has a large population of families. Families seek hair cutting services for the men in their family (fathers and sons) on a regular basis. Winning the loyalty of a family often includes winning the business for all their children and husband as well. Parents are well connected to each other and as such are a prime source of referral business. [Company name] expects to regularly acquire new customers from referrals.
- Professionals: [Company name] is located along a well-traveled commute route. By offering convenient location and exceptional service to the customer, [Company name] will draw in working men who need to look professional for work.
- Students: There are multiple high schools and middle schools located in the surrounding area. These students still live on their parents’ income and can therefore afford to pay for higher-quality services than discounters provide. In particular, [Company name] can expect to generate significant seasonal business based on the beauty needs of the local youth culture.
