McGrew, 1-2-2 Market Analysis

McGrew, 1-2-2 Market Analysis - Franklin University Product...

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Franklin University Product Innovation Introduction Plan Section 2: Market Analysis Prepared for : Dr. Patrick Demerath MBA721-F1WW Prepared by: Trish McGrew July 08, 2010
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M c G r e w | 2 Market Analysis Komfy & Warm has decided to launch a test product in Chicago, Illinois also known as the “Windy City.” Chicago is location in northern Illinois’s Cook country and has a population of approximately 2,853,114 of which 49% is male and 51% is female. The median household income is approximately $38,625 and $42,724 for families. There are around 1,061,928 households of which, 632,909 are families and 26.2% are under the age of eighteen. The median age is approximately 31-32 years of age (IDcide, 2010). Komfy & Warm chose Chicago, IL as its test market for the simple fact Chicago has such a large diversity of people and for the geographic location. As noted earlier, Chicago is also known as the “Windy City.” Since Chicago is in the northern region, they usually experience cooler temperatures earlier than most of southern Illinois (Average Temperatures, 2010). Behavior Factors
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McGrew, 1-2-2 Market Analysis - Franklin University Product...

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