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Summary Apply Week 3 Market Analysis Research.docx DAT/565 Market Analysis Research University of Phoenix DAT/565 Business overview, Mission, and Vision Market analysis My businesses competition would be places like Petco and Petsmart as they are ve $7.49   Add to cart
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Summary Apply Week 3 Market Analysis Research.docx DAT/565 Market Analysis Research University of Phoenix DAT/565 Business overview, Mission, and Vision Market analysis My businesses competition would be places like Petco and Petsmart as they are ve

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Apply Week 3 Market Analysis R DAT/565 Market Analysis Research University of Phoenix DAT/565 Business overview, Mission, and Vision Market analysis My businesses competition would be places like Petco and Petsmart as they are very stiff competition in our business space. We are a bus...

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  • July 3, 2021
  • 2
  • 2020/2021
  • Summary

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  • mission
  • apply week 3 market analysis researchdocx dat565 market analysis research university of phoenix dat565 business overview
  • and vision market analysis my businesses competition w

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DAT/565


Market Analysis Research

University of Phoenix


DAT/565

Business overview, Mission, and Vision

Market analysis

My businesses competition would be places like Petco and Petsmart as they are very

stiff competition in our business space. We are a business that is new to the game, but when it

comes to market size in the year 2019-2020, seventy seven percent of American households, or

85 million households own at least one pet. That number has only gotten larger since the

COVID pandemic as one in three people or thirty percent of Americans adopted a pet

(Insurance Information Institute, Inc., 2021). When it comes to the pet store and all the services

that we provide, I wanted to take an average on what pet owners would spend in a year on their

pet for things like treats, food, grooming, and miscellaneous other purchases. With spending

and the type of pet owned considered, I took the conservative route and said in a year about

$500 is spent as long as your pet is relatively healthy and multiplied those probable scenarios

with the households that own at least one pet.



Expected Market Value: Rae’s Pet Palace

Assumptions Probability p(x) Unit(s'000) AvgU. niPtric(e$) MarkeVt alu(e'$000)
Pessimistic 0.30 84,900 450 38,205

Most Likely 0.50 85,000 500 42,500

Optimistic 0.20 160,000 550 88,000

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