Using our zip code 07070, obviously, there are diverse groups that can be found around the area. Those are the Younger Mix with 1,388,902 households, the Cosmopolitans or conservative classics with 1,325,689 households, the Money & Brain or affluent group having the most number of households of 2,278,635, the Bohemian Mix or middle age mix with a population of 2,010,509 households, and lastly American Dream or group of diverse culture. Generally, the people are well educated, and affluent with a capability to afford the luxuries of life such trendy apartments, expensive clothing, and lifestyle. The highly affluent groups own sophisticated houses and SUV and Mercedes Benz cars. Most of the people enjoy shopping, traveling, and eating in their favorite destinations. The mixed racial groups have the same lifestyle with white Americans; most of them can still practice their cultural identity such as the Bohemians and other ethnic groups.
This scenario presents the fact that this community has sets of market because the varied socio-economic characteristics of the residents exercise various sets of lifestyles with potential to patronize different products. A small community like this is seen as good markets for shopping, dining, and recreational.
My parents who belong to older mix (or Money & Brain) follow the same lifestyle as stated in the web site. Because of their high income, they would spend a day together shopping at Nordstrom, eating at California Pizza Kitchen during weekend. However, my parents only own an SUV instead of Mercedes Benz.
The community of my college is composed of mixed culture predominantly African American who live in their older days. Many do not have the wealth that the people in our place enjoy. Although, there is also the Money & Brain group, yet majority of the people here receive a household income of $28,000 to $39,000 dollars annually. There is a discrepancy of about $40,000 compared to the income of the Affluent families receiving $85,000 per year. Another observation is that, majority of the households own Korean or Japanese made cars as compared to Mercedes Benz and European made cars by the affluent families. Aside from that, another group comprises the immigrants who found green pasture in this place. Though they receive a salary of $34,000 per year, they can afford to buy Volkswagen GTI.
The demographic characteristics of the household in my college town show that they are less advantaged compared to the people in my hometown; however some have the opportunity to do shopping and traveling simply because they live alone without kids with them. Their lifestyles vary from reading magazine and newspaper, listening to music, and watching TV shows. However, the City Roots or group of mature people but without kids can travel to some parts of America, the Close-Ins Couples can take pleasure in shopping and dining at famous restaurants because most of them have no small kids to raise up and give education to.
Based on the demographic characteristics presented, the products that are suited in my opinion for the people in my college town are drugstores and convenience stores at every corner for older people in case immediate needs arise any time of the day. Affordable recreational areas for adult or senior citizens, affordable food chains around the town are also recommended for their enjoyment despite financial limitation. On the other hand, bars and restaurants are good for highly energetic younger people and middle-aged individuals who love nightlife. Selected shopping malls will also do for highly rich people
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