Target Market
Who is your target market? In a one page paper, develop a full target market segment for your business plan.
Use the Census.gov AmericanFactFinder system and this Target Market template to complete this assignment:
Identify your primary target market segment, and discuss three reasons for your selection. Identify the characteristics of your target market. This can include descriptors such as age, gender, cultural preferences, income level, and geographic region.
Quantify your primary target market segment. Use the census database, to identify the total target population (total #) for your target market. This would be the total number of people in your geographic region, that align with the characteristics you stated earlier. Then identify the target market for your business. This is usually 10% of the total target population. For example, if your total target market is 10,000 potential customers, then your target market is 1,000 potential customers for Year 1. Consider using a 3-5% increase for each additional year.
Format your assignment according to the following formatting requirements:
Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.