Guissepie's, an Italian wine manufacturer, is launching a line of premium red wines in a test market in the eastern United States. The company sells to select regional retailers so they expect that they will achieve an ACV of only 34%. Market research suggests that 47% of consumers will be aware of the product, 64% of those who are aware will decide to make a trial purchase and 75% of those who try the product will be repeat buyers. The test market has a population of 1,030,000 households.

a. How many households (#) are expected to try Guissepie's new red wine within the test market?

b.What percentage of consumers will become repeat buyers of Guissepie's wine?

ANSWER SHOULD BE ROUNDED TO THIRD SIGNIFICANT DIGIT 0.999

c. If Guiseppie's wants to increase their percentage of repeat buyers to 9%, what ACV% would they need to achieve, assuming other variables remain constant?

ANSWER SHOULD BE ROUNDED TO THIRD SIGNIFICANT DIGIT 0.999

d. What trial rate is required if Guissepie's wants 5% of the market to become repeat purchasers of the line?

ANSWER SHOULD BE ROUNDED TO THIRD SIGNIFICANT DIGIT 0.999