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.

Background and an Invitation to the "Piranha Pen Imagine that you have developed a new dog leash and harness called 2 Chainz. 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 approx tely 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. Motivation for having a dog Guard Dog For protection Watchdog Segment Name Child Family Dog Golden Years Substitute Counterpart Dog serves as Dog as a Keep a replacement playmate for active/activity for a child kids partner Avoiding loneliness High Middle High household household household income income income Ages 25 - 35 Ages 30 - 45 Ages 50 - 65 Highly Medium Medium/High attached attachment attachment High level of Lower High level of attention to attention to attention to dog Demographics Lower Household income Ages 25 - 45 Less attached Attachment/Attention dog dog Type of Dog Small dog Lives indoors Large dog Lives outdoors 25% Medium to large dog Medium to large dog 20% 30% 25% % of Households in the U.S. Owning a Dog in this Segment Pricing Survey You paid a market research firm to conduct a nationally representative survey of 700 dog owners during which they were shown a 2 Chainz 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