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You are the marketing manager for Bilbo Industries. You have been asked to estimate the demand for a new toy (not aimed at adults), a remote- control rocket that sells for $300. Based on the following information, determine your optimal target market and figure out the number of people, using the chain ratio method, who would be in the target market. Use all three segmentation variables. The # of households (HH) in the US = 100 million. HH income: $30,000 and below: 10% $30,001 - 60,000: 65% $60,001 and above: 25% Children in the HH: no kids: 65% kids below the age of 5: 15% kids 6-18: 20% Of the households with kids, 20% have only boys & 20% have only girls and 60% have both. O 35 million O 1 million O 3 million O 4 million

You are the marketing manager for Bilbo Industries. You have been asked to estimate the demand for a new toy (not aimed at adults), a remote- control rocket that sells for $300. Based on the following information, determine your optimal target market and figure out the number of people, using the chain ratio method, who would be in the target market. Use all three segmentation variables. The # of households (HH) in the US = 100 million. HH income: $30,000 and below: 10% $30,001 - 60,000: 65% $60,001 and above: 25% Children in the HH: no kids: 65% kids below the age of 5: 15% kids 6-18: 20% Of the households with kids, 20% have only boys & 20% have only girls and 60% have both. O 35 million O 1 million O 3 million O 4 million

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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You are the marketing manager for Bilbo Industries. You have been asked to estimate the demand for a new toy (not aimed at adults), a remote- control rocket that sells for $300. Based on the following information, determine your optimal target market and figure out the number of people, using the chain ratio method, who would beſin the target market. Use all three segmentation variables. The # of households (HH) in the US = 100 million. %3! HH income: $30,000 and below: 10% $30,001 - 60,000: 65% $60,001 and above: 25% Children in the HH: no kids: 65% kids below the age of 5: 15% kids 6-18: 20% Of the households with kids, 20% have only boys & 20% have only girls and 60% have both. O 35 million O 1 million O 3 million O 4 million
Transcribed Image Text:You are the marketing manager for Bilbo Industries. You have been asked to estimate the demand for a new toy (not aimed at adults), a remote- control rocket that sells for $300. Based on the following information, determine your optimal target market and figure out the number of people, using the chain ratio method, who would beſin the target market. Use all three segmentation variables. The # of households (HH) in the US = 100 million. %3! HH income: $30,000 and below: 10% $30,001 - 60,000: 65% $60,001 and above: 25% Children in the HH: no kids: 65% kids below the age of 5: 15% kids 6-18: 20% Of the households with kids, 20% have only boys & 20% have only girls and 60% have both. O 35 million O 1 million O 3 million O 4 million
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