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NMS External Analysis.docx

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Department
Commerce
Course
COMMERCE 3MC3
Professor
Marvin Ryder
Semester
Fall

Description
One opportunity examined is the demographics of the target area. Occupational distribution is fairly even throughout the Metro Halifax Area. Blue Collar households account for 20.6% of the population, while professional and white collar households stand at 29.1% and 49.8% respectively. The large percentage of professional and white collar households is significant as it correlates with higher income levels. The music school industry targets upper middle, higher social class level neighborhoods as musical talent tend to be luxury to nourish. Currently, higher income levels are responsible for 68.9% of NMS’s business. With around 80% of the geographic segmentation aligned with the target market, this suggests that the industry has substantial potential to grow. Rural demographics prove that although Sackville boosts 60% more in population than Bedford, current enrolled music students from Sackville is roughly the same from those from Bedford. However, even demands in both rural areas may be attracting to the music school industry. In addition, 65.5% of all consumers currently enrolled in music lessons belong to a household of four or more. This is significant as the enrollment into music lessons tend to be influenced family members. Children attending elementary to high school consisted 22% of the population in Bedford and 24% in Sackville. The high percentages in population distribution meant that both Bedford and Sackville rural areas are preferred settling locations for fami
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