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 the immediate surrounding areas. The residents it will serve are affluent and have the disposable income to purchase their products.
The precise demographics of the town in which the retail location resides is as follows:
| 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
We will primarily target the following three customer segments:
- College Students: The establishment will be located near a predominant university and tailor its services and products for its target customer.
- Local office workers: Approximately 5,000 individuals work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent the establishment from 5:00pm on.
- Local residents: Approximately 10,000 residents live near the surrounding area and a majority will frequent the establishment.
