IV. Customer Analysis
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Demographic Profile of Target Market
[Company Name] will primarily serve consumers throughout the US who are between the ages of 18 and 50.
The precise demographics of individuals living in the U.S. are as follows:
|Target Population by Age|
|Age 18 to 24||9.99%|
|Age 25 to 34||13.08%|
|Age 35 to 44||12.94%|
|Age 45 to 54||14.64%|
|Age 55 to 64||12.43%|
|Median Household Income||$57,639|
|Households w/disposable income|
|Income $50,000 to $74,999||18.03%|
|Income $75,000 to $99,999||12.97%|
|Income $100,000 to $124,999||8.65%|
|Income $125,000 to $149,999||5.40%|
|Income $150,000 to $199,999||5.12%|
|Income $200,000 and Over||5.34%|
The Company will primarily target the following customer segments:
- Young Adults: The first target group consists of consumers who are between 18 and 25 years of age. While this group mostly consists of college or university students who like to read free content, the group increasingly subscribes to digital editions of their favorite publications. According to a recent survey by Statista, young adults read more magazines than any other age group in the United States, which is why this group will be the biggest contributor in the magazine’s sales.
- Affluent Consumers: The second target group is comprised of affluent consumers who are interested in hobbies and leisure activities such as wine and travel, and are more likely to pay a premium for high-quality print editions.
- One-time purchasers: The Company will place magazines at newsstands and airports in order to target consumers who do not maintain a subscription, but who are interested in the current edition of the magazine.
- Companies: The magazine will offer ad space to various companies and businesses located across the United States.