A company originally planned to target its marketing initiatives toward households with income of $50,000...
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A company originally planned to target its marketing initiatives toward households with income of $50,000 or more. In 2019 there were a total of 54,848 households where approximately 15 percent of households had income between $35,000 and $49,999. The largest household income segment (19.6%) was the $50,000 to $74,999 category. Next were households with income between $75,000 and $99,999 (15.3%), $100,000 to $149,999 (12.7%), and more than $150,000 (6%). Beyond the consumer market, services will be marketed to specific types of organizations better known as the commercial market. However, a recent 2020 survey of the commercial market in LA found that it consists of:
Childcare Services (27 establishments)
Entertainment & Recreation Services (59 establishments)
Hospitals (4 establishments)
Membership Organizations (101 establishments)
Hamilton Area School District (16 establishments)
Churches & Religious Organizations (125 establishments)
you decide only to target the commercial market. What is the market size?
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