Bobs Burgers had sales of $5,000,000 last year and cost of goods of $2,500,000. The entire...

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Bobs Burgers had sales of $5,000,000 last year and cost of goods of $2,500,000. The entire burger industry has sales of $50,000,000. Furthermore, Bob's Burgers spent $10,000 for marketing last year, while the industry as a whole spent $70,000. Suppose Bob's Burgers wanted to increase their market share by an additional 4%. Using share point analysis, how much additional profit would they make and how much additional money would they need to spend on marketing to achieve this? Bobs Burgers had sales of $5,000,000 last year and cost of goods of $2,500,000. The entire burger industry has sales of $50,000,000. Furthermore, Bob's Burgers spent $10,000 for marketing last year, while the industry as a whole spent $70,000. Suppose Bob's Burgers wanted to increase their market share by an additional 4%. Using share point analysis, how much additional profit would they make and how much additional money would they need to spend on marketing to achieve this?

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