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| Market Research |
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Who will buy? Surveys show that seventeen out of eighteen people would buy this product if they had a child under 6 years of age. (Martin Kaye, 2003.) The target market for this product would be parents with small children who are concerned with the safety of their child around stoves. Where will it sell? Our product will be available in most department stores and will appear in the child safety section. How much will it sell for? Our product will sell for the affordable price of $34.99 CAD. According to a survey, (Martin Kaye, 2003) 56% of people would be willing to pay that much or more, for our product. Other research In a survey (Martin Kaye, 2003), it was shown that the majority of people are concerned with the installation, ease of use, price and safety of such a safety product. In accordance with the said survey, our product is simple to install (attach velcro and go), easy to use (only one hand), cheap (well within what people would be willing to pay) and very safe. |
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