Homework
Now that you've assessed your potential business, the next step is to determine who your customer is. In this homework, you will use secondary research to create a customer profile. This is important information to have when you are presenting to potential investors. Comparing your chosen service area with neighboring areas will allow you a full mastery of this great resource and may help you create a vision for more opportunity by profiling your customers.
Complete the ESRI Zip Lookup Worksheet.
ESRI Zip Lookup Worksheet
Part I
Creating a customer profile will allow you to determine your customer and identify marketing opportunities. Using the ESRI Zip Lookup, choose your zip code, 1 neighboring zip code to the south, and 1 neighboring zip code to the north. Research the median income, financial optimists, monthly credit card charges, and 1additional variable of your choosing. This exercise will help you gain a full mastery of this resource going forward to use for your business.
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Variable
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Example 32080
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Your Zip Code |
South
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North
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Tapestry 1
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33.1% Silver and Gold
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Tapestry 2
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30.4% Golden Years
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Tapestry 3
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9.2% The Great Outdoors
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Median Income
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$55,754.00
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Financial Optimists
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38.7%
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Monthly Credit Card Charges
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18%
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Any Variable of your Choice
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College Football Viewership 28.5%
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Part II
In 300 words or less, identify 1 opportunity or business insight you gained from this research. Provide your best example ofhow you can use this information strategically. Include the following:
i. How does knowing the zipcode information help identify customer needs and wants?
ii. How would these needs and wants differ based on the information found about each zipcode?
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.