Do not copy an old answer, please, this question has different numbers the marker share would be $ pleas the answer in dollars not percentage Note, below how to solve this question and also the law and add it to the text and information of the question note the the marker botential is 5840000 AND NEXT 2 What portion of this market potential could Alice expect for Petite Shop's market share (in dollars, not percentage) The market share would be $ Step 2 Calculate Market Share 1 Estimate selling space in market There are a total of 45 pharmacies and pharmacy departments in Lethbridge, with a total estimated size of 17,000 square metres (Primary research collected by observation ) 2 Size of proposed store The size of the proposed pharmacy is 300 square metres 3 Calculation of market share Percentage share of the market Proposed store selling space 300 m Total market selling space 17,000 m 300 m (including proposed store) 1 7 CASES FOR PART 1 Petite Shop (A) Big D's Painting Company Petite Shop (B) April's Micro Business Mobile Marketing Company PETITE SHOP (A) Alice Wood is concerned She has worked in a women's clothing store for several years after graduating from high school and is now considering opening a store of her own Her investigations have yielded considerable second ary information, but she is not sure how to go about estimating the potential for another women's clothing store in the city of Jacakes Jacakes is a city of 86,100 surrounded by a large trading area It currently has 17 clothing stores and five department stores that retail women's clothing During the past few years, Alice has been saving her money and learning all she could so that her Petite Shop women's wear store will be a success TABLE 1 Selected Data for the City Jacakes In anticipation of starting her own store, Alice enrolled in a small busi Population 86,100 ness management course at a local Number of families 29 200 25,000 Per capita income college The instructor stressed the Retail Sales $737,700,000 importance of market research and 1 600 Per family expenditure on women's clothings mentioned several sources of secondary information that could assist in determining market potential for a new business Alice obtained the TABLE 2 Estimated Retail Space for Selected Retail reports she felt were relevant to her Establishments (in square feet) City of Jacakes prospective business from the Provin Food stores 1 200 000 cial Department of Small Business, Apparel stores Statistics Canada, and the city hall in Men's clothing stores 145,000 Jacakes This information is presented Women's clothing stores 180,000 in Tables 1 and 2 Hardware stores 600 000 Alice now has this information, how Department stores 1 650 000 ever she is not sure how to proceed $ She does not want to retallinds of ladies clothing, but plans to cater to the petite woman who wears dress sizes 3 to 9 Alice herself is petite at 5 feet or 15 metres and she feels she understand the mic Dies women other size have in shopping for clothing From her retailing experience she states that about 60 percent of all clothing Sales are in women's clothing, and 20 percent of all women fit in the site 3 to 9 category She arrived at her decision to select a store directed at the petite woman after she visited 17 clothing stores in Jacakes and the clothing departments of the city's tive department stores She estimates that only about 10 percent of clothing Stores stock is sged 3 to 9 and the live department stores devote only about 6,500 square feet of seling space to this site range She believes a small shop of about 1,000 square feet coa provide a much better selection to the market an mose outlets presently provide Questions 1 Using the information provided, prepare an estimate of the market potential for the target market at which Alice Wood is aiming 2 What portion of this market potential could Alce expect for Petite Shop's market share 3 What non quantitative consideration should be brought into this analysis PETITE SHOP (B) Now that Alice Wood has a better idea of the market potential and market share for her proposed retail store she wants to be satisfied that the Petite Shop will be successful and provide an adequate return on the $45 000 she has saved over the last few years to invest Rather than conduct an actual survey on the viability of her business, Alice starts to engage with her social net work on instagram about whether she should open her Pette Shop While Alice's friends are supportive, she doesn't think she has had enough feedback, so she creates new Facebook, Twitter and Pinterest accounts to share information about her potential store Alice spends some time every day thing to her friends and people She has met online, and most people support her idea However, she has become a bit concerned that some of her friends have suggested she should consider selling online or on eBay as the business would require less cash Investment to start and could involve less risk While Alice agrees that more and more shopping is occurring online she's convinced there is still room for a bricks and mortar Petite Shop Alice now begins investigating the typical costs she would incur in operating the store Alice thinks she can operate her new store with one other full time person and some part time help at an estimated monthly cost of $4 000 In looking at potential rental costs, she came across a retail outlet for lease on a busy street in the centre business district of Jaces that seems ideal for the Petite Shop She learns that the site leases for $20 per square foot with no royalty payments except $2 550 per year to cover municipales The estimated utility expenses the owner provided were $300 per month and the insurance for the retail shoe store that had previously been located there was $2 500 per year Alice has also spoken to a local entrepreneur who has agreed to buidhera website that will work well on mobile devices for $3 000 The hosting costs for the site would be $35 a year, Although Alce is excted about the potential of this site, she estimates she will need to spend approximately $20,000 for leasehold improvements, of which $12,000 will be depreciable items (20 percent When obtaining the secondary information from Jacakes City Hall, she learned that the business licences will be $100 Alice est mates all miscellaneous expenses, such as stationery, bad debt expense, credit expense, and telephone, to be about $5,000 per year These figures are based on her experience at the store where she currently works Alice knows she will have to raise some additional money to purchase inventory She visited her local bank and found out that the interest rate for a business loan was 10 percent, but the bank would only lend her the money if she could pledge personal assets against the loan She also learned that any potential tender would expect to see a com pleted income statement and a more thorough proposal The bank officer mentioned that In addition to leasehold Improvements, she would need one fourth of the year's cash expenses as operating funds Although a bit surprised at the bank's reaction, Alice is determined to prepare such a proposal She knows the new store will need to be The market share would be $ 2 Now that we know the total amount of money spent made in the market (on that thing sold, in this area and at this current time) we can now calculate how large a portion of that money we could realistically capture from our competition this would be our market share Of course, since our competition isn't disappearing it isn't realistic to assume we could capture 100 of the market potential They also have the advantage of an existing reputation and customer base, and hopefully we have our own competitive advantage strategy To make our calculations realistic, we want to use metrics more concrete than our untested marketing plan Different types of businesses would use different types of metrics A manufacturing business would calculate based on production capacity you couldn't capture more of the market that you have the capacity to serve A retail store calculates based on the square footage of selling space which could be considered the production capacity for retail This case study will use square footage since we are calculating for a retail store The final answer is the total number of dollars we could realistically expect this business to make in a year at least at this point in time and under these The market share would be $ 2 Consider market potential previously calculated Regarding retail firms consider total square footage devoted to selling to the target market Women's clothing stores sq ft x 10 (given) dept stores sq ft Market share is calculated by combining these two figures Proposed sq ft (total sq ft proposed sq ft ) Market share percentage x total market potential Note only final answer is rounded to two decimal places

Question

Do not copy an old answer, please, this question has different numbers the marker share would be $ pleas the answer in dollars not percentage Note, below how to solve this question and also the law and add it to the text and information of the question note the the marker botential is 5840000 AND NEXT  2  What portion of this market potential could Alice expect for Petite Shop's market share (in dollars, not percentage)  The market share would be $ Step 2  Calculate Market Share 1  Estimate selling space in market  There are a total of 45 pharmacies and pharmacy departments in Lethbridge, with a total estimated size of 17,000 square metres  (Primary research collected by observation ) 2  Size of proposed store  The size of the proposed pharmacy is 300 square metres  3  Calculation of market share  Percentage share of the market  Proposed store selling space 300 m Total market selling space 17,000 m   300 m (including proposed store)   1 7  CASES FOR PART 1 Petite Shop (A) Big D's Painting Company Petite Shop (B) April's Micro Business Mobile Marketing Company PETITE SHOP (A) Alice Wood is concerned  She has worked in a women's clothing store for several years after graduating from high school and is now considering opening a store of her own  Her investigations have yielded considerable second ary information, but she is not sure how to go about estimating the potential for another women's clothing store in the city of Jacakes  Jacakes is a city of 86,100 surrounded by a large trading area  It currently has 17 clothing stores and five department stores that retail women's clothing  During the past few years, Alice has been saving her money and learning all she could so that her Petite Shop women's wear store will be a success TABLE 1 Selected Data for the City Jacakes In anticipation of starting her own store, Alice enrolled in a small busi  Population 86,100 ness management course at a local Number of families 29 200 25,000 Per capita income college  The instructor stressed the Retail Sales $737,700,000 importance of market research and 1 600 Per family expenditure on women's clothings mentioned several sources of secondary information that could assist in determining market potential for a new business  Alice obtained the TABLE 2 Estimated Retail Space for Selected Retail reports she felt were relevant to her Establishments (in square feet) City of Jacakes prospective business from the Provin  Food stores 1 200 000 cial Department of Small Business, Apparel stores Statistics Canada, and the city hall in Men's clothing stores 145,000 Jacakes  This information is presented Women's clothing stores 180,000 in Tables 1 and 2 Hardware stores 600 000 Alice now has this information, how  Department stores 1 650 000 ever she is not sure how to proceed  $ She does not want to retallinds of ladies clothing, but plans to cater to the petite woman who wears dress sizes 3 to 9  Alice herself is petite at 5 feet or 15 metres and she feels she understand the mic Dies women other size have in shopping for clothing From her retailing experience she states that about 60 percent of all clothing Sales are in women's clothing, and 20 percent of all women fit in the site 3 to 9 category She arrived at her decision to select a store directed at the petite woman after she visited 17 clothing stores in Jacakes and the clothing departments of the city's tive department stores  She estimates that only about 10 percent of clothing Stores stock is sged 3 to 9  and the live department stores devote only about 6,500 square feet of seling space to this site range  She believes a small shop of about 1,000 square feet coa provide a much better selection to the market an mose outlets presently provide Questions 1  Using the information provided, prepare an estimate of the market potential for the target market at which Alice Wood is aiming 2  What portion of this market potential could Alce expect for Petite Shop's market share 3  What non quantitative consideration should be brought into this analysis  PETITE SHOP (B) Now that Alice Wood has a better idea of the market potential and market share for her proposed retail store she wants to be satisfied that the Petite Shop will be successful and provide an adequate return on the $45 000 she has saved over the last few years to invest Rather than conduct an actual survey on the viability of her business, Alice starts to engage with her social net work on instagram about whether she should open her Pette Shop  While Alice's friends are supportive, she doesn't think she has had enough feedback, so she creates new Facebook, Twitter and Pinterest accounts to share information about her potential store  Alice spends some time every day thing to her friends and people She has met online, and most people support her idea  However, she has become a bit concerned that some of her friends have suggested she should consider selling online or on eBay as the business would require less cash Investment to start and could involve less risk  While Alice agrees that more and more shopping is occurring online she's convinced there is still room for a bricks and mortar Petite Shop Alice now begins investigating the typical costs she would incur in operating the store  Alice thinks she can operate her new store with one other full time person and some part time help at an estimated monthly cost of $4 000  In looking at potential rental costs, she came across a retail outlet for lease on a busy street in the centre business district of Jaces that seems ideal for the Petite Shop She learns that the site leases for $20 per square foot with no royalty payments except $2 550 per year to cover municipales  The estimated utility expenses the owner provided were $300 per month and the insurance for the retail shoe store that had previously been located there was $2 500 per year Alice has also spoken to a local entrepreneur who has agreed to buidhera website that will work well on mobile devices for $3 000 The hosting costs for the site would be $35 a year, Although Alce is excted about the potential of this site, she estimates she will need to spend approximately $20,000 for leasehold improvements, of which $12,000 will be depreciable items (20 percent  When obtaining the secondary information from Jacakes City Hall, she learned that the business licences will be $100  Alice est mates all miscellaneous expenses, such as stationery, bad debt expense, credit expense, and telephone, to be about $5,000 per year  These figures are based on her experience at the store where she currently works Alice knows she will have to raise some additional money to purchase inventory  She visited her local bank and found out that the interest rate for a business loan was 10 percent, but the bank would only lend her the money if she could pledge personal assets against the loan  She also learned that any potential tender would expect to see a com pleted income statement and a more thorough proposal  The bank officer mentioned that  In addition to leasehold Improvements, she would need one fourth of the year's cash expenses as operating funds  Although a bit surprised at the bank's reaction, Alice is determined to prepare such a proposal  She knows the new store will need to be   The market share would be $  2  Now that we know the total amount of money spent made in the market (on that thing sold, in this area and at this current time) we can now calculate how large a portion of that money we could realistically capture from our competition this would be our market share Of course, since our competition isn't disappearing it isn't realistic to assume we could capture 100  of the market potential  They also have the advantage of an existing reputation and customer base, and hopefully we have our own competitive advantage strategy To make our calculations realistic, we want to use metrics more concrete than our untested marketing plan  Different types of businesses would use different types of metrics  A manufacturing business would calculate based on production capacity   you couldn't capture more of the market that you have the capacity to serve  A retail store calculates based on the square footage of selling space which could be considered the production capacity for retail  This case study will use square footage since we are calculating for a retail store  The final answer is the total number of dollars we could realistically expect this business to make in a year   at least at this point in time and under these       The market share would be $  2  Consider market potential previously calculated Regarding retail firms consider total square footage devoted to selling to the target market  Women's clothing stores sq  ft  x 10  (given)   dept  stores sq  ft  Market share is calculated by combining these two figures  Proposed sq  ft  (total sq  ft    proposed sq  ft ) Market share percentage x total market potential   Note  only final answer is rounded to two decimal places

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