Question 12 In order to bring to South Korea a Therapy-based mental health app, you first need to roughly estimate your market demand. Your market research (country report) yields the following statistics: -Therapy mental health app users in China: 30M -Total adult population in China: 1.2B -Total adult population in Korea: 40M -Smartphone ownership in Korea: 94% -At least "somewhat interested" in mental health products in Korea: 30% -Currently using similar apps (mediation or mindfulness) in Korea: 4M According to the Analogy method, market demand estimate could be: 4M 30M/3 = 10M (because Korean population is one third of the Chinese population) 30M Both options 1) and 2)

Question 12 In order to bring to South Korea a Therapy-based mental health app, you first need to roughly estimate your market demand. Your market research (country report) yields the following statistics: -Therapy mental health app users in China: 30M -Total adult population in China: 1.2B -Total adult population in Korea: 40M -Smartphone ownership in Korea: 94% -At least "somewhat interested" in mental health products in Korea: 30% -Currently using similar apps (mediation or mindfulness) in Korea: 4M According to the Analogy method, market demand estimate could be: 4M 30M/3 = 10M (because Korean population is one third of the Chinese population) 30M Both options 1) and 2)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 7E

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