TARGET MARKET/DEMOGRAPHICS

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 THE HORIZON TARGET AUDIENCE IN NEW CROMWELL




                                                   
CROMWELL ENTRANCE SIGN- CONNECTICUT 




Cromwell is a small town located in the Middlesex county of Connecticut in the United States of America.  Cromwell has a total population of 14,317 people ( City population, 2022). It has a total male population of 6,809 (2020)  and a female population of  7416 ( 2020). 

The following charts and data are more specific information I need regarding Cromwell to identify my target market.









As you can see on the chart, Cromwell has a youthful population with 59.7% being between the ages of 18-64 (2020).  This is followed by children between the ages of 0-17 years having a percentage of 19.3% ( 2020). Finally, the minority which is the elderly from 65 and above is 21% ( 2020). 











The diagrams above are the age distribution graphs of Cromwell (2020). As you can see on the age distribution bar graph, it has been divided into two sections. The male section is blue and the female section is red. The age range section with the highest residents is 50-59 years which is 2,115( 2020). It is closely followed by an age range of 60-69 years with 1968 people. Placing third are those between the ages of 40-49 with 1,775 people. The Horizon Towers will be mainly targeted towards families which are from the ages of 30 and above. Take note that these family heads/guardians also have children who fall between the ages of 0-19 but the residential suites will be mainly marketed towards their guardians. Fortunately, the age bracket which my project is targeting has a high population therefore finding residents will not be a difficult task.  

( In progress) 




         






The charts you can  see above are those of the races of individuals who reside in Cromwell. As you can see Cromwell is a white dominated community with a whooping 11,521 people. This is closely followed by the Asians with 790 people(2020) and Black/African American with 658 people ( 2020). The other races with a less dominating population are the Indigenous, Pacific Islander and 2 or more which represents multiracial individuals. The Horizon Apartments will be a racially tolerating environment hence there will be a zero racism policy to prevent discrimination. No matter the ethnic group of individuals everyone will be welcomed to reside. However, background checks will be conducted on every individual before giving them residence. This is to prevent potential terrorist and people with malicious intents from living on the residence. 

You can see from the chart above that majority of the population has attained some form of formal education. 95.1%( 2022) of  the population have received high school diplomas. Which means they have received primary and secondary education. Therefore, they will be able to comprehend foundational information relating to job sector. 44.6%( 2022) graduated from college therefore they have received a variety of educational degrees. 4% ( 2022) attended college but did not graduate. What all these figures show is that Cromwell is not an illiterate and uneducated population.  It insinuates that most may be employed or may have something beneficial going on for them in relation to jobs. I will expand more on the job industry below. 










According to the Bureau of Labor Statistics( 2024),  7667(2024) out of 14,317( 2020) residents are employed. Per my calculations according to the age demographic chart ( 2020), the total number of residents between the ages of 20-69 is 9,125( 2020). This means out of this value only 1458 are unemployed. I included the age bracket of those who are 60-69 because some individuals continue to work even after retirement. Bear in mind the value I derived which is 1458 is just a rough estimate I derived based on the employment rate and the residents numbers backed with evidence. 










Last on the list, we have a bar graph based on the employment industries residents in Cromwell work in. As you can see 19.7% work in the healthcare sector( Doctors, nurses and other medical practitioners) ( 2022) .  This is closely followed by the financial sector with a percentage of 12.4( 2020. Potential occupations may be bankers, accountants, bank tellers, Audit, Insurance personnel amongst others. Retail comes in at third with a percentage of 10.1 ( 2022). Retailers are individuals who obtain whole sale goods from factories and sell them in smaller quantities with added profit. Retailers include people who own shops, supermarkets amongst others. Education comes in fourth with a percentage of 10.0 ( 2020). Occupations in the education sector are mostly teachers, educational Counselors and Lectures. Manufacturing comes in fifth with 9.3% ( 2020). Goods may be manufactured in both the primary and secondary sector. 

All what this shows is that most of the employed individuals in Cromwell have stable and well functioning jobs, Therefore if offered residence they will be able to take care of their personal properties as well as being able to fend for themselves. However, in the case of any financial difficulty, residents will be offered help. Bear in mind that the rent prices will be subsidized for the residents. 





To sum up most residents of Cromwell are in good financial positions. It was just unfortunate that the fire occurred which destroyed their properties. In the case where most of them made investments based on the income they earned, they will still be able to have funds to live by till they get jobs. The population is also racially diverse therefore, different people can come together and relate with one another. In the case where some may not be accustomed to residing with people of different races, as time goes on they will be able to adapt and coexist peacefully. 



 







IMAGE REFERENCES 

Mill, B.J. (2019). Cromwell to seek input from the public on the superintendent search. The Middletown Press. [online] 22 Apr. Available at: https://www.middletownpress.com/middlesex-county/article/Cromwell-to-seek-input-from-public-on-13785997.php [Accessed 6 May 2024].



TEXT REFERENCES

Population, C. (2020) Cromwell statistics, (Town, Lower Connecticut River Valley, USA) - Population Statistics, Charts, Map and Location. Available at: https://www.citypopulation.de/en/usa/connecticut/admin/lower_connecticut_river_v/0913018080__cromwell/ (Accessed: 07 May 2024).

Charts, Y. (2024) Cromwell, CT Employment (I:CCTELWTL), YCharts. Available at: https://ycharts.com/indicators/cromwell_ct_employment (Accessed: 07 May 2024).


Statistics, L. (2022) Cromwell, CT Demographic Data, NeighborhoodScout. Available at: https://www.neighborhoodscout.com/ct/cromwell/demographics (Accessed: 07 May 2024).









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