How many households with children that purchase “healthy” breakfast cereal will try the new cereal?

How many households with children that purchase
“healthy”
breakfast cereal will try the new cereal?

Tasty trees, Inc. has a new healthy
fiber cereal for children it is marketing in the US. The
U.S. breakfast cereal
market size is 7 billion. Out of the 60 million households
in the nation, 70%
have children at home. Of the households with children, 45%
purchase cereals
marketed as “healthy”. Of those that try the new cereal,
they expect
that 50% will purchase 1 box per month for the year (next
11 months). The new
cereal is priced at 3.99. What market share (as figured in
dollars) will Tasty
Trees, Inc. earn with this new cereal?

A) How many households have
children?

B) How many households with children that purchase
“healthy”
breakfast cereal will try the new cereal?

C) How many of the households that try the new cereal will
continue to purchase
the cereal through the rest of the year?

Also could you kindly describe the 3 ways to measure market
share:

a) Overall market share

b) Served market share

c) Relative market share.

U.S. breakfast cereal market size = 7 billion
No. of households = 60 million

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