IV. Customer Analysis
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Demographic Profile of Target Market
[Company Name] will serve the businesses and residents of [Insert location] and its immediate surrounding area. The market we serve is value-conscious and has a desire for high comfort, accessibility, and complete facilities for events.
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%|
We will primarily target the following three customer segments:
- Corporate market: Businesses hold at least one off-site event each year. These are events that the company has budgeted for and are looking forward to every year. This also includes profit organizations.
- Private market: Includes households with a high combined income that are most likely to throw a huge event in a rented venue.
- Non-profit market: These are price conscious organizations that look for a good venue for their fundraising events at low or reasonable (and discounted) rates.