Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How do you estimate the size of the market? Bees Coffee Shop Help a friend determine whether opening a coffee shop is a good idea.
How do you estimate the size of the market?
Bees Coffee Shop Help a friend determine whether opening a coffee shop is a good idea. A friend comes to you for business advice. You're having lunch with an old friend from university, and she's looking for some business advice. She is thinking of opening a coffee shop in Maka, stanbul. She sees potential in this business but wants your help in determining whether opening a coffee shop is a good idea. What do you think? You show your proposed framework to your friend, and she really likes it! She's especially interested in figuring out how big the market is to best estimate how much coffee she can sell. She knows the market probably includes commuters, visitors, etc., but for now, she wants you to focus on Maka residents alone. - How do you estimate the size of the market? Assume that Maka has a population of 100,000 people and, on average, each drinks 1 cup of coffee per day Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started