IV. Customer Analysis
This Section's Contents
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Demographic Profile of Target Market
[Company Name] will serve the residents and the people working in [company location] and its surrounding areas.
The area we serve is very diverse. The precise demographics of the town in which our location resides is as follows:
Glendale | Highland | |
---|---|---|
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
We will primarily target the following four customer segments:
- Families: the town has a large population of families who need medications and everyday vitamin intake.
- Clinics and Patients: The pharmacy is near some clinics. This will help people have easy access to the drugs their doctors prescribed them.
- Nursing Homes: There are a number of nursing home facilities in the area that will be ideal targets to form strategic partnerships for all of their pharmaceutical needs.
- Local office workers: approximately 10,000 individuals work in offices within half a mile of our location and we expect a fair portion of these individuals to frequent us during the morning and lunch hours.