IV. Customer Analysis
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Demographic Profile of Target Market
[Company Name] will serve the residents of [Insert location] and its immediate surrounding area. The market we serve is willing to spend money on recreational and medical products.
The precise demographics of the town in which our location resides is as follows:
|Target Population by Age Group|
|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%|
The company targets the following customer segments:
- Local residents: Approximately 70,000 people live in the area, 80% of which are over the age of 21.
- Patients: This includes seniors and critically ill patients that need assistance to alleviate the pain that they are feeling.
- Local office workers and young professionals: Approximately 5,000 individuals work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent the establishment.