IV. Customer Analysis
This Section's Contents
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Demographic Profile of Target Market
[Company Name] will primarily serve the residents of [company location].
The area we serve has a significant population of young professionals, who have yet to purchase their first home.
The precise demographics of the town in which our business is based are as follows:
| Wilmette | Winnetka | |
|---|---|---|
| Total Population | 26,097 | 10,725 |
| Square Miles | 6.89 | 3.96 |
| Population Density | 3,789.20 | 2,710.80 |
| Population Male | 48.04% | 48.84% |
| Population Female | 51.96% | 51.16% |
| Target Population by Age Group | ||
| Age 18-24 | 3.68% | 3.52% |
| Age 25-34 | 5.22% | 4.50% |
| Age 35-44 | 13.80% | 13.91% |
| Age 45-54 | 18.09% | 18.22% |
| 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% |
Customer Segmentation
The Company will primarily target the following four customer segments:
- Existing homeowners: A large contingent of homeowners in this community are looking to trade up to larger or more expensive homes. Still other homeowners are aging, and are in the market to downsize to more manageable properties.
- First Time Home Buyers: First time home buyers are mostly made up of young professionals who have always been renters. Therefore, this group tends to value a mortgage broker who is knowledgeable about the area’s real estate market in general, and shows the intention of truly negotiating well on their behalf.
- Businesses: Businesses are typically in the market for commercial and industrial loans that are far larger than home loans. While there are significantly fewer commercial customers, these businesses turn to brokers who have relationships with multiple commercial lenders, and can offer the best interest rate options.
