IV. Customer Analysis
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Demographic Profile of Target Market
[Company Name] will serve the community residents of [Location] and its surrounding areas.
The area we service is suburban, with 55% owning homes. This means a sizable portion of the local population will require our services at some point.
A demographic profile of the area 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%|
[Company Name] will primarily target the following three customer segments:
- Homeowners: We will primarily market our services to new and veteran homeowners who need a friendly and convenient contractor to help them with all their remodeling projects.
- Residents 55 and older: Residents who are near their golden years usually don’t have the time, energy, or ability to update their homes to make them safer to age in place. They look to experienced contractors to get the job done. Therefore, we will market our aging-in-place services to this demographic.
- House flippers: Many house flippers are taking advantage of the current housing market to turn a profit. To succeed at this, they need reliable contractors who can help them remodel houses to make them more desirable to buyers. We will market our affordable services to this demographic so that house flippers know they can get professional remodeling services done without breaking their budget.