Question: Using the bolded items below, estimate its Total Market Potential (i.e., how many consumers could potentially demand the item in total) using the Chain Ratio

Using the bolded items below, estimate its Total Market Potential (i.e., how many consumers could potentially demand the item in total) using the Chain Ratio Method, Bottom-Up Method or one of its variations.

The total number of dog-owning households in the state of California

Be sure to show your reasoning in how you choose to calculate the final number. Label all quantities and explain what you are doing step by step. We are more interested in your overall process and less interested in your final numerical answer and the numbers you use to arrive at that answer or how/where you find them. Though any assumptions you make about intermediate quantities should be reasonable.

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