describing the market segment it appeals to along with a description of the product features and consumer benefits

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Imagine that you have been newly recruited as a product manager by Bio5 at the University of Arizona. They have been toying with the idea of launching a product kit for testing the GENALOGY of pets, especially the “dog as a pet” market. Technology is now available to be able to draw out the DNA of the dogs through a small sample of saliva. With the DNA almost all details of the dog can be obtained. However unlike the human genographic project on National Geographic (google to find out more about it), a database dosen’t exist that would help type not just the ancestry of the pet but also how it is related to other pets as well. Before embarking on creating a large database, you are wondering about the following: What market segments exist for this market? Define precisely by variables and your logic and secondary data that suggests the same.

Calculate the total market potential “M” across the various market segments. Identify “p” and “q” that you think apply to this market for a Bass Model. Even an exhaustive search wont give you exact markets elsewhere, so use your best judgment. Calculate yearly sales for the first 5 years based on the M, p and assumed.

Create a new product concept for a new brand of watch. Explain your concept by describing the market segment it appeals to along with a description of the product features and consumer benefits. How would you test the concept? Please write and attach a concept testing survey instrument.

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