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The case and instruction are listed in the attached pdf. As a primer to answering the questions, you may want to refresh yourself on the measures and vocabulary of market demand e.g., potential market, available market, target market, and penetrated market.
HINT: Four broad types of methods for forecasting the adoption of a new innovation were discussed. The Chain Ratio Method may be used to estimate the number of customers in the total available market for iZZi’s photo lens cases, and the estimated number of customers in your recommended target segment for Izzi. A Diffusion Model (such as the Bass Model) could be effective for determining how much of the targeted market opportunity could reasonably be captured by iZZi in the near term. As a proxy for using the model, you may simply plot the diffusion assuming a normal distribution (e.g., 2.5%/innovators, 13.5% early adopters, etc.).
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