When choosing a location or a marketing circuit for your business, it’s important you understand who your target customer is.
Demographics are personal characteristics used to classify consumers.
Those characteristics include: Age, income level, and marital status
This post shall be focusing on the economic class-status of Abuja residents, drawn from my Business plan of 2017.
It was a bit of controversy coming up with the following classifications.
Economic Classifications and Characteristics
CLASS-STATUS: Upper Class
Income level: This group of people earn above N650,000 monthly
Areas of Residence: Asokoro, Maitama and Apo Legislative Quarters.
Occupation: Top politicians and top entrepreneurs
Percentage by Population: They are less than 2% of the total population.
Disposition to Service: Higher quality and convenience of service
Disposition to Price: Not slightly bothered about price; always willing to pay for the best quality service.
CLASS-STATUS: Upper-Middle Class
Income level: This group earn between N350,000-N600,000 monthly
Areas of Residents: Wuse 2, Gwarimpa Estate, Life Camp and other popular estates.
Occupation: Directors, senior doctors, senior lawyers, contractors and business owners.
Percentage by Population: They are less than 6% of the total population.
Disposition to Service: High quality and convenience of service
Disposition to Price: They are usually willing to pay for quality services.
CLASS-STATUS: Lower-Middle Class:
Income level: This group earn between N150,000 to N300,000 monthly.
Places of Residence: Lugbe Estate, Kubwa Estate, and other moderate estates
Occupation: level 12, 14 public servants, fresh doctors, traders, small entrepreneurs.
Percentage by Population: About 22% of the population falls within this group.
Disposition to Service: Moderately quality services.
Disposition to Price: Price determines their choice of quality.
CLASS-STATUS: Lower-Middle Class
Income level: They earn less than N150,000 monthly
Places of Residence: Lugbe Village, Kuje, Nyanya, Zuba, Kubwa, Masaka, Idu,etc
Percentage by population: About 70% of the population belong to this group.
Disposition to Service: This group pays more attention to quantity than quality. They usually improvise to reduce costs.
Disposition to Price: This group are too price conscious; price controls their taste of choice.
You see, earlier this year, someone sought my advice on where to locate a gym centre in the city of Abuja. The above classifications was indeed of great help.