IV. Customer Analysis
This Section's Contents
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Profile of Target Market
[Company Name] will initially serve dispensaries in [company location] and the immediately surrounding areas, with plans to expand statewide.
The area we serve has licensed a larger than average number of dispensaries, and we are centrally located and ideally situated to serve the entire area.
Wilmette | Winnetka | |
---|---|---|
Total Population | 26,097 | 10,725 |
Square Miles | 6.89 | 3.96 |
Population Density | 3,789.20 | 2,710.80 |
Population Male | 48.04% | 48.84% |
Population Female | 51.96% | 51.16% |
Target Population by Age Group | ||
Age 18-24 | 3.68% | 3.52% |
Age 25-34 | 5.22% | 4.50% |
Age 35-44 | 13.80% | 13.91% |
Age 45-54 | 18.09% | 18.22% |
Target Population by Income | ||
Income $50,000 to $74,999 | 11.16% | 6.00% |
Income $75,000 to $99,999 | 10.91% | 4.41% |
Income $100,000 to $124,999 | 9.07% | 6.40% |
Income $125,000 to $149,999 | 9.95% | 8.02% |
Income $150,000 to $199,999 | 12.20% | 11.11% |
Income $200,000 and Over | 32.48% | 54.99% |
Customer Segmentation
The Company will primarily target the following three customer segments:
- Medical provisioning centers: Medical provisioning centers are expected to command 40% of the cannabis market. [Company name] will work with these centers to grow the strains that best meet the needs of their patients.
- Recreational dispensaries: Recreational dispensaries account for 39.9% of the cannabis market. Recreational customers typically prefer high THC strains, so [Company name] will be sure to always have at least one such strain in its lineup.
- Manufacturers: Many cannabis cultivators also manufacture cannabis products such as tinctures and cannabis infused edibles. [Company name] intends to focus solely on cultivation, and expects manufacturers to represent a significant demand.