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Market potential for toronto in canadian dollars

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Reference no: EM133038650

Cassidy Crowley, age 7 years, appeared on Shark Tank to pitch her invention, Baby Toon.

The 100% FDA grade silicone, patented invention has two functions: 1) Chew toy (teether) and 2) Baby spoon.  With no sharp edges or protrusions, it's safe and easy for babies to grasp and hold. Chewing on it won't hurt their gentle gums. Its unique animal shape prevents choking and gagging. 

Cassidy wants to expand sales of Baby Toon in Canada but first, she wants you to the determine the market potential for this product. 

You gather the following data: 

  • Toronto: # Babies born in 2019 = 67,178
  • They start eating solid food at 6 months old
  • Based on sales in the U.S. Percentage of parents buying the product = 1.5%, percentage of others buying = 0.3%
  • Retail Sales Price: CAD 13

Question:

  1. What is the market potential for Toronto in Canadian dollars? 
  2. What adjustments would you need to consider (e.g., buying patterns/consumption patterns between American and Canadians, etc.) Explain

Reference no: EM133038650

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