First Draft of Market Analysis

First Draft of Market Analysis - Wenfeng Chen Grease...

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Wenfeng Chen 11/17/2006 Grease Monkeys Incorporated Market Analysis Demographics Target Markets Grease Monkeys Incorporated (GMI) has many different facets, each appealing to a variety of customers. This diverse spectrum of customers can be broken down into three main target audiences. Our first target audience is the population who are involved with some sorts of relationships, especially the household population. Based on researched findings, married couples who have kids have shown that they become more environmentally conscious than they usually were because they want to set a good role to their children. Consequently, the offspring will become environmentally conscious by the influence of their parents. Moreover, there is a massive household population in Portland, Oregon (see table 1.1 below), which creates a perfect environment for us, the Grease Monkeys Incorporated to enter the market. In addition to households that have kids, according to US Environmental Department, unmarried couples have shown high consciousness about the environmental issues. They psychologically think that their partners would expect to be with someone who indeed has the care about the environment. With all these interesting facts we’ve found, an environment-oriented product like the biodiesel fuel that GMI offers would provide them a perfect opportunity to prove their care of the environment. Household by Type Items Family Households Non-family Households Total Households Number 118,447 105,290 223,737 Percent 52.9% 47.1% 100% Table A.1 Households in Portland Oregon in 2000 Similarly, because of better knowledge on various recent phenomena (such as global warming, etc.) that are occurring on earth, the educated population, our second target audience, has shown high concerns about environmental issues. According the US Census, Portland, over 85.7% of the population were high school graduates or higher in 2000. This high percentage of people would also prefer biodiesel fuels that our company provides to prevent from worsening our environment. Moreover, we are planning to make presentations constantly to the community and let more people be aware of how serious all kinds of pollutions are doing to the Earth as well as our health in general. However, in the short term, most people would care more about the money in the pocket than the environment. Recently, the price of gasoline has sky-rocketed, from about $1.98/gal to $3.32/gal or higher. That’s why a low-cost fuel such as the biodiesel fuel that Grease Monkeys
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Incorporated is promoting would be a perfect relief for all the financially-concerned people, our
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First Draft of Market Analysis - Wenfeng Chen Grease...

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