1.

Looking at the market segment profiles, which segment would you target? Note: Assume you only have the resources to target one of the segments for now. Explain your reasoning below.

2. Calculate the market potential for the product in terms of units sold

3. In the previous question, you calculated market potential for the product in terms of units sold. In the space below, please explain your calculation and the reasoning behind it.

4. Answer the question below using the following information:

Rent: $30,000

Factory Machine Setup: $150,000

Managers Salaries: $75,000

Advertising: $10,000

Production Cost: $10 per unit

Sales Price to Retailers: $20 per unit

Using the information above, calculate the break even quantity (# units sold) for the product?

5. Answer the question below using the following information:

Rent: $30,000

Factory Machine Setup: $150,000

Managers Salaries: $75,000

Advertising: $10,000

Production Cost: $10 per unit

Sales Price to Retailers: $20 per unit

Using the information above, calculate the break even amount of revenue for the product (i.e., how much revenue will be earned when the break even # of units is sold). Enter a number below. Note: Although your calculation should yield a dollar amount here, you do not need to enter the $ sign itself in the answer box below (just enter the number).

6. Answer the question below using the following information:

Rent: $30,000

Factory Machine Setup: $150,000

Managers Salaries: $75,000

Advertising: $10,000

Production Cost: $10 per unit

Sales Price to Retailers: $20 per unit

Using the information above, calculate the number of units you would need to sell to make $1,000,000 in profit. Enter a number below.

7. Given your previous market potential and break even calculations, do you believe that moving forward with bringing the product to market is a good decision? Explain below.

Please use the scenario below to help vou answer the questions in the Answer Entry section for this assignment in Canvas. Background and an Invitation to the "Piranha Pen" Imagine that you have developed a new dog leash and harness called "2Chainz". The product features a unique double helix, chain-like structure made out of nylon that helps prevent dogs from pulling their owner during walks. You also recently received an invitation to present "2Chainz" on an episode of a television show called "Piranha Pen". The show gives entrepreneurs the opportunity to pitch their products to a panel of wealthy businesspeople (aka "Piranhas") in the hopes of landing an investment deal. The Piranhas are known to be savvy negotiators and are famous for asking tough questions and having high standards before making an investment. Therefore, it is critical that you be well-prepared. In preparation for the show, you pull together the following data from a variety of sources. Market Research Data Segment Profiles You obtain a market research report profiling the different segments of dog owners in the United States. The report suggests that there are approximately 40 million households in the U.S. that own dogs and they typically fall into one of four segments: (1) Guard Dog, (2) Child Substitute, (3) Family Dog, and (4) Golden Years Counterpart. Table 1 provides a general profile of each segment as well as the estimated proportion of dog owning households that fall into each category. Pricing Survey You paid a market research firm to conduct a nationally representative survey of 700 dog owners during which they were shown a 2Chainz prototype and asked how likely they would be to purchase it. Approximately 30% of those surveyed indicated that they would purchase the product from a retail store at your planned price of $45. Dog Behavior Survey You also discovered a national survey by a dog training organization called the American Association of Dog Whisperers. The survey suggests that pulling on a leash is one of the most commonly reported behavioral problems reported by dog owners, with about 65% of dog owners nationwide reporting that pulling on a leash is a problem they have experienced. And, about half of the dog owners that reported leash pulling also stated that they had not yet found a solution to this