Paint Company is a regional manufacturer of house paint. Their paint is distributed in the local area at retail stores that carry paint, hardware, and building supply materials. The company identified 4 potential target markets based on a combination of geography and end user status: (1) urban do-it-yourself customers, (2) urban professional painters, (3) rural do-it-yourself customers, and (4) rural professional painters. Research provided the following information: Total Market size = $100 million 50% of dollar volume is urban Households account for 70% of urban dollar volume Households account for 90% of rural dollar volume Company sales last year were $16 million. Urban and rural sales each have 50% of this sales amount. Additionally, 60% of sales through urban dealers went to professional painters, while 80% of sales through rural dealers went to do-it-yourselfers. (a) (8 points) Determine market potential, the size of each segment, in both dollars and percentage of the market. Set up each formula used for calculation. (b) (2 points) Explain why this information is important.