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Marketing Segmentation Research AssignmentObjectives: To gain “hands-on” experience doing market research; to utilize data that marketers use for making decisions; to compare two different markets.Markets: A county and a City/place (provided by instructor)County: Henrico County, VA an City: Richmond, VA Work Program:https://www.factfinder.census.gov/faces/nav/jsf/pages/searchresults.xhtml?refresh=tSame procedure for your County and your city.Use 2010 Census and 2015 American Community Survey (ACS) and generateeconomic, social and housing tables for 2010 and 2015.Using the tables you’ve generated, prepare an EXCEL spread sheet that compares the following data for the county and the city for both years. Make sure that you show both numbers of people and percent of total population to do a useful comparison.o Total Populationo Population 65+ yearso Population 0-4 yearso Median Ageo Median Household Incomeo Per Capita Incomeo Percent of population living in povertyo Median House Priceo Percent of Home Ownershipo Percent of persons that have bachelors and graduate degreesBriefly discuss and compare your findings in terms of market segments using only the information you’ve gotten from the Census. Determine if the population of the county and/or the city have grown recently and if the people and the area are wealthier or less wealthy than before. Is there a difference between city and county? Compare the 2010 with the 2015 numbers.Given what you know about the population in your area, would you open a new up-scale restaurant in the city or the county. Explain your answer.Format: EXCEL spread sheet and one-page (maximum) to answer questions 4, 5 and 6 (above).Submit via email.
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