Homework assignment
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Unit2IndividualProject.pptxBig D Market Expansion Research Findings
Presented by:
Findings on Demography
Most people in the targeted market have reached the college level of education
The death rate of the population in the targeted market is low while the birth rate is slightly high
Most individuals are aged 30 years and above
The number of women is higher than that of the men
A majority of the people in the targeted market have reached the college level of education. What this implies is that many people qualify for white collar jobs. The significance of securing a white collar job is that it promises a steady income. Research shows that most employees in the formal sector are employed on a permanent basis. The death rate of the population in the targeted market is low while the birth rate is slightly high. This kind of population promises high sales. if the population had more young people, sales would be low since most young people are normally in school and so do not have any source of income.
Many people are aged 30 years and above. What this implies is that the population is mainly composed of the adult population which is good. The number of women is higher than that of men. This is good for the company for the reason that women have a high tendency to buy new products when they are presented to them. The main reason for this is that women have a higher curiosity than men. Unlike men, women are more willing to taste new products and services. This is especially if the services or even products satisfy their needs to the fullest.
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US POPULATION TREND
Findings on Occupation
Most people in the targeted market are either, teachers, nurses or police officers
There are a few accountants and lawyers
The teaching profession has the highest rate of increase in terms of population
The profession with the lowest rate of increase is that of accountants.
Most people in the targeted market are either, teachers, nurses or police officers. The good thing about all these populations is that most individuals are employed on a permanent basis. The importance of being employed on a permanent basis is that it helps it helps ensure a permanent flow of income. There are a few accountants and lawyers. The significant of having this population here is that it helps increase the amount of money in circulation. This is because lawyers and accountants are among the professionals rated as high income earners. What normally happens is that earning a high income translates to a high spending ability.
The teaching profession has the highest rate of increase in terms of population. The main reason for this is that the number of schools has been increasing. Given the fact that teachers also earn a high income, this means that the there is a high amount of money put into circulation by this population. The profession with the lowest rate of increase is that of accountants. This population is however projected to increase due to the fact that there are so many financial firms that want to set up in the targeted area. This means that our company will be charged less deposit fees due to many financial institutions.
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Findings on Employment
The current employment rate stands at 60.5%
The rate of employment has been increasing
Most people are employed in the informal sector
The informal sector is projected to experience a continuous growth
The current employment rate stands at 60.5%. What this percentage means is that many people are employed. The second implication of this rate of employment is that most people have better living standards. What normally happens is that people living at high standards have a higher spending power when compared to those people that are living in poor living standards. The rate of employment has been increasing. This means that the few people who are currently living in poor standards will soon improve their standards. It further means that the spending rate of such people will increase. This will increase the money in circulation.
Most people are employed in the informal sector. This perhaps is due to the fact that there are so many companies in the targeted market. As a result of the high number of companies, the area is able to employ a high number of locals when compared to the number that the government is able to employ. The informal sector is projected to experience a continuous growth. The number of companies in place is expected to increase due to the government incentives that currently exist. The government intends to reduce unemployment rate to its lowest.
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Unemployment Trend
Findings on Income
The per capita income of the targeted population is $90,761 for men and $50,756 for women annually
Men earn at least $7,563 per month while women earn $4,299
While women appear to be earning less, it is projected that the average income of women will increase
Not all women earn low income; there are women who earn more than men. It all depends of the type of occupation
The per capita income of the targeted population is $90,761 for men and $50,756 for women annually. When this is calculated on a monthly basis, Men earn at least $7,563 per month while women earn $4,299. The fact that women appears to be earning low in this case does not mean that they are poor spenders. A demographic research conducted in the targeted area show that most women are married. What this means is that men invest part of their money into the family. The impact of adding more money into the family is that it increases the money that women have at hand.
Even though women appear to be earning less, it is projected that the average income of women will increase. Of great importance however to note in this case is the fact that not all women earn low income; there are women who earn more than men. It all depends of the type of occupation. The second factor that determines the income that an individual in the area receives is experience. Individuals that are more experienced in their profession tend to earn more than those that are less experienced. the main reason for this is that experienced individuals have extraordinary skills than less experienced individuals.
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US DISPOSABLE PERSONAL INCOME
Conclusion
It is alright for Big D to implement its expansion strategy
Will expanding into new markets make the company experience high sales?
Will the company achieve high profits as a result of high sales experience?
Will the company be financially stable as a result of its expansion?
It is alright for Big D to implement its expansion strategy. The main reason for this is that all factors appear to be suggesting that the targeted market offers a favorable situation for the company. Our evaluation for instance has come to establish that the rate of employment has been increasing and is expected to continue increasing in the future. What this means is that the company will continue to experience a steady increase in the sale of its products. Expanding into new markets will me the company experience high sales. This is one of the goals that the company wants to achieve.
The company will realize high profits as a result of high sales experienced. What normally happens is that high sales translate to high revenues. The cost of production is then factored in. The company will be financially stable as a result of its expansion. What this means is that the company will be in a better position of expanding should it wish to expand to other markets. The main reason for this is that money plays a key role when it comes expansion. A company that has enough or the required capital is more likely to expand than that which has low capital.
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References
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Pak, A. (2013, August 12). Tableau Public - Overview and Applications [Video file]. Retrieved from http://youtu.be/PnkMiHocqRw
Tableau. (2018). Tableau public. Retrieved from http://www.tableausoftware.com/public/
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