Question
Frank is a marketing manager for a pet food company and research shows that the dog population in Canada was just over five million in
Frank is a marketing manager for a pet food company and research shows that the dog population in Canada was just over five million in 2010, with 32.3% of Canadian homes owning a dog, down slightly from 35.1% in 2009. Over the next few years, dog food sales are projected to grow in constant value at a CAGR of 3%, to total CAD $1 billion in 2015. Furthermore 70% of all pet food sold in Canada is dry the rest is wet or fresh food. 50% of all Wet or Fresh dog food purchased is premium pet food. There is a premium price charged of 32% more on Premium pet food. Based on this information what is the $ value of the segment for premium wet/fresh Dog food in Canada in 2015?
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