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 majority of the population is female, which is traditionally the gender that buys wigs the most. There is also a thriving beauty industry that may require wigs for their mannequins and displays. We could not choose a better community to set up shop.
[Company Name] will primarily target the following three customer segments:
- Women: Traditionally, most customers of the wig industry are women. Generally speaking, hair loss is much harder for women than men, so many use wigs to help them cope. Even women without hair loss concerns use wigs to showcase styles that they can’t try with their natural hair. Therefore, we expect most of our customers to be female.
- Individuals with health conditions: For people living with certain health conditions, hair loss is an unfortunate side-effect. Losing one’s natural hair can create additional distress for these individuals. Many people with these conditions seek out wigs to cope with their illnesses. Therefore, we expect many customers from this segment to frequent our shop.
- Local beauty companies: Companies in the beauty industry often use wigs for displays, demonstrations, and to dress up mannequins. They usually need a larger variety of wigs than individuals and go through them more often. Therefore, we expect a good chunk of sales to come from the local beauty industry.