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Complete 8 pages APA formatted article: Fundamentals of Entrepreneurship. A middle class family with two kids, a house of two-bedrooms, with an annual income of lets’, assume $30,000, and a car, it fa
Complete 8 pages APA formatted article: Fundamentals of Entrepreneurship. A middle class family with two kids, a house of two-bedrooms, with an annual income of lets’, assume $30,000, and a car, it faces some sort of financial crisis, the first and the foremost option to raise money would be to sell their car. The reason being, that one can always survive without a car considering the good road and railways infrastructure in Colorado, and intercity connectivity are adequate too.
The target audience for my car dealership company could roughly be the earning youngsters, middle-sized family with average incomes and typical lifestyle. This is a very vague statement so we’ll go deeper into the analysis and figure out our target audience in complete detail. Colorado’s population demographics consist of 50% men and 50% women, median household income $55,430 as of the year 2009, Denver, Co is dominated by 52.2% of whites and followed by 31.8% Hispanics, sale of houses was showing a very dawdling trend with sales at 4000 houses till the second quarter of 2012, priced on an average at $260,000 which had touched an all-time high peak since 2007. According to the statistics provided by Denver, Co city government there is 43.2% married population, 5.7% unemployed ones which is a very ideal rate of unemployment, and a total of 78.9% population with an age of 25 years and plus, which clearly reflects a very decent and smart spread of earning class, leading us to the conclusion that velocity is high, which means that the number of transactions taking place upon a number of times money changes hands. In August 2012 unemployment had touched a level of 8.3% in Denver which is 1.3% above the desired level of unemployment defined by the US government yet of not much concern when considering the prospects of our car dealership business.
So with the demographic data available, we can easily assess that a large target audience is present in Denver, Co who wishes to purchase a car but cannot afford a brand new one and hence a second-hand car dealership company shall perform good in .such an environment. .
