IV. Customer Analysis
This Section's Contents
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Demographic Profile of Target Market
[Company Name] will serve the residents of [company location] and its surrounding areas. The area residents it will serve are affluent and expected to spend more on skincare products per capita than the national average.
The precise demographics of the town in which our retail location resides is as follows:
| Springdale | Wyndham | |
|---|---|---|
| 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 three customer segments:
- High-Income Group: The store will attract residents with high-income groups who are conscious about their skin and take the time and energy to maintain it.
- Different Age Group: The store will attract residents of different age groups as the [Company location] consumers are making an effort to hold younger-looking skin.
- Working Professionals: [Company name] is located along a well-traveled commute route. By offering a convenient location and exceptional service to the customer, [Company name] will draw in working men and women who need to look professional for work with young-looking skin.
