IV. Customer Analysis
Demographic Profile of Target Market
[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 upper-middle class; as a result, they have the means to pay for gym memberships, personal training and other fitness related services.
The precise demographics of the town in which our retail 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 will primarily target the following three customer segments:
- Soccer/stay-at-home moms: The town has a large population of stay-at-home moms who are active in the school and community. These moms seek fitness services on a regular basis. Winning the loyalty of a mother often includes winning the business of her children and husband as well. These women 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 and women who want to stay fit.
- 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 services.