8/10/2019 Scenario 832

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Name:

Scenario 8.3.2Run KC - Matching Customer Profile to Target Market Profile

Learning O!ecti"e

To determine if there are enough potential customers within a target market to support thebusiness.

O"er"ie#A target market profile is developed using demographic data available through the CensusBureau, library databases, and government reports. The target market profile should include thevariables used to describe the typical customer. eep in mind, for B!C businesses, variablesinclude factors such as age, income, and gender" and for B!B businesses, variables includefactors such as annual sales, number of employees and type of business.

#nce the customer profile is complete, the entrepreneur needs to look at it in relation to the targetmarket profile. By comparing the customer profile to the target market profile, it is possible todetermine if there are enough potential customers within a target market to support the business.ScenarioTim Clark$s research resulted in the following Customer %rofile and Target &arket %rofile.

Customer ProfileThe typical customer of 'un C can be described as follows:

(ender: ...........................................................................................................male or female)ousehold *ncome:.............................................................................................over +-,

Age 'ange ...........................................................................................primary / 0 1 years..........................................................................................................secondary 230!4

5ducation 6evel.............................................................................some college" college grad5mployment..........................................................................................students" professional)ousing Type.........................................................................homeowners" living with parents7amily Types......................................................................................................family" singles6ifestyle: runner" participate in leisure sports" reads 'unners 8orld" *nternet user

According to the 'unning 9A tate of the port !2, core runners are highly educated with4; having a college diploma" are affluent with /; having a household income over +-,"and purchase an average of /.! pair of running shoes per year. #f this group, 13.3 ; of the

women spent over +4< per pair and -.2; purchased their running shoes at a specialty runningstore" -1.3; of the men spent +4< and 3!.4; made their purchases at a specialty running store.

2012 Ewing Marion Kauffman Foundation. All Rights Reserved. Planning the $ntre%reneurial &enturecenario =./.! %age 2 of !

8/10/2019 Scenario 832

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Target Market Profile

'un C will be located in >ohnson County, ansas ? the fastest growing county in ansas.

According to the 9 Census, the market profile for >ohnson County in !4 can be described as:

Total %opulation !4..................................................................................................-3!,/Average )ousehold *ncome:......................................................................................+=4,4!-Average )ome @alue................................................................................................ +!34,Total )ousing 9nits:.................................................................................................... !2,=1; %opulation change !0!4:................................................................................