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 area residents serve are affluent and are expected spend more on wine per capita than the national averages.
The precise demographics of the town in which the 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 customer segments:
- High-Income Individuals: The Company will attract people with high-income who enjoy drinking wine and usually have the disposable income to spend more on wine per capita than the national averages.
- Local professionals: The Company will attract local professionals who 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 1,000 residents live near the surrounding area and a majority will frequent the establishment.
