Forecasting might involve historical trend data, but for new products and in other situations when historical data isn't easily available, you can use market factors to estimate market potential. When estimating market potential, cite sources (e.g. primary or secondary research, historical trend data, heuristics1, marketing experiences and common sense), state any assumptions and show all your calculations.1 Estimate the market potential for the new "Bongo Bumpers" toys in Halifax vs. Granby. If you could hire one additional sales person for this product, which market would you select.Forecast demand in retail dollars for the new "Bongo Bumpers" toy in Canada for its first year of launch based on the market research data provided below and use Statistics Canada to look up population in each city.Marketing Research Results: Spin Master Toys would like to introduce a new battery powered adventure toy called "Bongo Bumpers" targeted to boys aged 5-9 in Canada. It is a unique new toy that is expected to be a Christmas season hit this year. The toy will sell for $25.? A Spin Master survey estimated that 80% of boys who saw the toy in action would ask theirparents to purchase it for them.? Past experience with their marketing campaigns estimates that 65 % of boys in Canada wouldeither see advertising or learn about the toy from friends within its first year of launch.? Spin Master have learned that in general 50 % of parents or others in the family will purchase aSpin Master toy that their child requests within a year, as Spin Master has an excellent reputationfor making toys that have lasting play value

Factors to consider (Assumptions/Calculations Halifax, Nova Scotia Granby Quebec Sources: 2. Compare the cat food market in Winnipeg Manitoba vs. London Ontario. Use Statistics Canada and secondary research that might be available to identify market factors to estimate the market size in each market. Which market would be best to open a premium cat food store. Explain your answer. Cite Sources. Factors to consider (Assumptions/Calculations Winnipeg London Sources: 1 Heuristics: Pertaining to the use of the general knowledge gained by experience to solve problems. Examples of this method include using a rule of thumb, an educated guess, an intuitive judgment, or common sense 16 Do the Math Workbook for Marketing by Karen Sinotte, Winter 2020 Practicing the Math 3 Estimate the number of red sports cars on the road in Toronto right now. For this one, use guestimates rather than use internet sources. Factors to consider % Assumption Calculations