Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

In uract wring to South Korea a Therapy-based mental health app, you first need to roughly estimate your market demand there. Your market research (country

In uract wring to South Korea a Therapy-based mental health app, you first need to roughly estimate your market demand there. Your market research (country reports) yields the following statistics:

  • Therapy mental health app users in China: 30M
  • Therapy mental health app market share in China 7%
  • Total adult population in Korea: 45M
  • Smartphone ownership in Korea: 94%
  • At least "somewhat interested" in mental health products in Korea: 30%
  • Currently using any mindfulness or meditation apps in Korea: 4M

According to the Chain Ratio method, market demand estimate for South Korea could be:

45M 94% 30% = 12.7

45M

OAM

60M 7% = 4.2M

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

How does the concept of hegemony relate to culture?

Answered: 1 week ago