15-24 Age Group Analysis

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As illustrated in the following pie chart, “Toronto, Ontario-Total Population by Age Groups (Both Male and Female)”, our two primary age groups, consisting of the 15-24 age group, as well as the 25-44 age group, have an extremely large combined population, reaching 2,367,620 people, which is 43% of the total population. The 15-24 age group is known as the Youth and Postsecondary market. This group is often very impulsive when purchasing goods or services, as they do not have to worry about the several financial liabilities that people in the 45-64 age group often have to pay off. This makes the 15-24 age group an easier customer to target when compared to many of the other age groups. One such group is the <15 age group. Due to their reliance on their gatekeepers, it is slightly more challenging to get this group to be a customer. The 25-44 age group is known as the Family Formation. Although this group also may have debts to pay off, such as university or college loans, this group has a larger income than the 15-24 age group and they have more financial freedom. This age group often has a slightly more busy lifestyle, as they often have a family, making our product,…show more content…
Dudley®, founded in 1922, manufactures combination locks that are often used by students in schools, however, they also sell locker accessories, bike locks, and even backpacks. Master Lock is an American company founded in 1921; very well known for their durable heavy duty padlocks, combination locks, and other security items. Recently, they have began experimenting with bluetooth technology and as a result have created a bluetooth controlled padlock for students. The iFingerLock® is one of the few other fingerprint locks on the market. This brand is relatively new to the market and has more room for improvement, as its biometric technology is rather inaccurate. Based on customer reviews, it is rather difficult to set
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