Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am doing an innovation assessment on robotic vacuums that requires a chain ratio to define the target market. I MUST use a chain ratio.

I am doing an innovation assessment on robotic vacuums that requires a chain ratio to define the target market. I MUST use a chain ratio. I was thinking that my intended market is avid cleaners or those that vacuum at least once a week, and the target market within that would be those who are tech savvy (or innovators and early adopters?). However, I'm having trouble finding numbers for these markets. Also, do I need to identify their ages and incomes? I would assume these need to be affluent (so $100k+) and about 25-40? Would these things fulfill a proper chain ratio, and where can I find these actual census numbers? All I found was the total population number...

Thanks in advance!

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Research Methods

Authors: Donald R. Cooper, Pamela S. Schindler

12th edition

9780077774431, 0073521507, 77774434, 978-0073521503

More Books

Students also viewed these Marketing questions

Question

i need to extend my rental return

Answered: 1 week ago