IV. Customer Analysis
This Section's Contents
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Demographic Profile of Target Market
[Company Name] will serve the community residents of [company location] and its surrounding areas.
The community of [company location] is a very diverse community that includes over 1.6 million residents. While the community is very diverse, there is also a portion of low income residents who are experiencing or have experienced homelessness or are living in transitional housing. In addition, there are thousands of residents who are dealing with the rising costs of inflation and are experiencing difficulty making ends meet for themselves and their families.
| Fort Lauderdale, FL | |
|---|---|
| Total Population | 9,818,605 |
| 15 to 19 years | 753,630 |
| 20 to 24 years | 752,788 |
| 25 to 29 years | 759,602 |
| 30 to 34 years | 716,129 |
| Total Households: | 3,218,511 |
| Household income $50,000 to $74,999 | 550,971 |
| Household income $75,000 to $99,999 | 382,770 |
| Household income $100,000 to $149,999 | 440,285 |
| Household income $150,000 to $199,999 | 187,449 |
| Household income $200,000 or more | 208,954 |
Customer Segmentation
The Company will primarily target the following three customer segments:
- Low Income Residents: There are a number of residents who are unable to afford basic necessities at typical retail outlets.
- College Students: College students typically do not have a lot of spending money and need to purchase affordable items.
- Families: Families need to purchase children and household items regularly and expenses sometimes exceed monthly income.
- Seniors: Seniors live on a fixed income and do not have discretionary funds for everyday purchases and expenses.
