IV. Customer Analysis
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Demographic Profile of Target Market
[Company Name] will primarily serve retail customers, grocery stores, restaurants, and supermarkets of [company location] and its surrounding areas.
The area it will serve is populated mostly by moderate to affluent people; as a result, they have the means to pay for high end restaurant dining, as well as higher quality food at home.
The precise demographics of the town in which the business is located 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 customer segments:
- Retail customers: The Company will target people who want to buy microgreens for their household use. The Company will operate a farm stand to cater to the needs of these customers.
- Retailers: Grocery stores and specialty food markets are one of the major market segments for microgreens. The Company will offer wholesale contracts to this segment.
- Restaurants/Hotels: The Company will also reach out to trendy and high-end area restaurants. The Company will focus on finding restaurants with an emphasis on farm-fresh produce, eating locally and seasonally, or those that offer gourmet dishes. [Company name] can anticipate a significant demand from this segment as a result of the growing gastronomy scene in [location].