Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The total potential market for your new product is 200 million people. Of these, only 30% are addressable (meaning that you can somehow reach them).
The total potential market for your new product is 200 million people. Of these, only 30% are addressable (meaning that you can somehow reach them). Of these, only 10% are likely to buy your product. And of these, only 5% will make a purchase in any given year. Their average purchase size will be $1000. How much sales should you expect each year?
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