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 it will serve is populated mostly by moderate to affluent people; as a result, they have the means to pay for higher quality service.
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 Individuals: The Company will attract people with high-incomes who are conscious about fashion trends and have the disposable income to spend on tattoos.
- Young People: The town has a large population of active young people who seek tattoo services. There are multiple high schools and colleges located in the surrounding area. According to a study published in the U.S. National Library of Medicine, 69 percent of students polled obtain a tattoo and/or body piercing between the ages of 18 and 22 while in college.
- Celebrities / Public Figures: The Company will also reach out to a number of celebrities and public figures who use tattoos as a means of self-expression. Some famous figures have ink that’s inspired by their past or to pay tribute to a loved one, making the body art very meaningful to the individual. [Company name] can anticipate a significant increase in business as a result of such public figures’ tattoo service needs.
