Design a Winning Business Based on Your Idea
 Step-by-step guide
 What do the experts have to say about Petopia's market opportunity assessment?
 Open assignment worksheet

Step-by-step guide

You’ll use the information Susan sent and the work you have completed in the course thus far to assess Petopia’s market opportunity. In order to develop a convincing estimate of the market opportunity, you’ll need to do the following:

  1. Begin by reading Susan's email: This will provide you with instructions and relevant documents that you will need to do your assignment.

  2. Download the attachments: You should download the attachments to Susan's email as they provide important background information and the tools you will need to complete your assignment. To download the attachments:

    • Right-click on the link in the e-mail and select "Save target as..." OR open the link and then save the document.

    • Save the document on your desktop or in a folder that you can easily access.

  3. Gather the Mobile Dog Grooming Overview you completed in Assignment 2 and the Summary of Empire City Dog Grooming Business workbook that you completed in Assignment 3. Review your market and competitive analyses.

  4. Create an Excel workook in which you can develop an estimate of the Petopia market opportunity. You should base your calculations on:

    • The market segments you anticipate Petopia will serve

    • The number of households and the number of pets each segment represents

    • Your recommended price for basic grooming service

    • Historical spending information on dog grooming

    You should determine:

    • The size of Petopia’s market opportunity in terms of number of households

    • The size of Petopia’s market opportunity in terms of dollars

  5. Proceed to the worksheet: Click the "Open assignment worksheet" link above in order to record your conclusions by answering the following questions:

    • What price did you propose charging for Petopia’s services? Explain your rationale.

    • How big (in terms of number of customers, and in terms of revenue) did you estimate Petopia’s market opportunity? How did you arrive at these values?

    • How might you maximize Petopia’s market opportunity? What might change your estimation of Petopia's viability?

What Next: Click "What do the experts have to say about Petopias market opportunity assessment?"

When you're done, click "Open assignment worksheet" to get started with your work.