Case summary:
People in Country A like pets a lot; 62 percent of the households have spent more than $50 billion on pets last year. It is necessary for the marketers to know about the past sales and potential market segments. These are the two important factors to estimate the next year’s sales.
The National Pet Products Manufacturers Association (NPPMA) helps the marketers to know the information regarding the potential market and market size. This information is known to NPPMA by conducting yearly surveys of pet owners.
To develop: The market potential for dog and cat food for Country A.
Demand:
The total number of goods and services demanded in an economy during a particular period at a given price level is known as demand.
The estimated market demand of dog food is $11,760,200,000 and cat food is $8,558,000,000.
Want to see the full answer?
Check out a sample textbook solutionChapter 6 Solutions
BUS-M370 MARKETING(CUSTOM)W/CDE>IC<
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning