IV. Customer Analysis
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Demographic Profile of Target Market
[Company Name] will serve the residents and businesses in [location] and will soon expand to the surrounding states. [Location] is mostly populated by middle to upper class families that can afford interior design services. The location is also a prime spot for hotels, resorts and restaurants that will need our services as well.
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:
- Homeowners: The majority of the population in (location) lives in houses and have disposable income that they are willing to spend in renovations and home or room makeovers.
- Businesses: This includes offices, stores, and shops that are looking to improve their working space for customer appeal.
- Hospitality spaces: The city is home to a number of hotels and restaurants that attract visitors with their updated design and ambiance. This is something that [Company Name] specializes in.