Dunder Mifflin, of Scranton, PA, is the leading manufacturer of office furniture and related items. Their products are made from solid wood, veneer, metal, and laminate. Dunder Mifflin is introducing a new line called The Dwight. The U.S. overall furniture market is estimated to be $24,813,556,000. Office furniture is 39% of all U.S. furniture sales. The office furniture category is composed of four distinct segments: (1) Non-solid wood – 29%; (2) Solid wood – 43%; (3) Metal – 18%; (4) Laminate – 10%. Sales of solid wood office furniture at the retail level are as follows: (1) Department stores – 22%; (2) Chain furniture stores – 40%; (3) Independent furniture stores – 17%; (4) Mass merchandisers – 8%; (5) Unfinished furniture stores – 9%; (6) Online – 4%. (a) If Dunder Mifflin elects to distribute The Dwight line through independent furniture stores and department stores, what is the relevant market? $1,975600,556 $2,509,282,886 $1,622,881,003 $2,234,654,897
Dunder Mifflin, of Scranton, PA, is the leading manufacturer of office furniture and related items. Their products are made from solid wood, veneer, metal, and laminate. Dunder Mifflin is introducing a new line called The Dwight. The U.S. overall furniture market is estimated to be $24,813,556,000. Office furniture is 39% of all U.S. furniture sales. The office furniture category is composed of four distinct segments:
(1) Non-solid wood – 29%; (2) Solid wood – 43%; (3) Metal – 18%; (4) Laminate – 10%.
Sales of solid wood office furniture at the retail level are as follows: (1) Department stores – 22%; (2) Chain furniture stores – 40%;
(3) Independent furniture stores – 17%; (4) Mass merchandisers – 8%; (5) Unfinished furniture stores – 9%; (6) Online – 4%.
(a) If Dunder Mifflin elects to distribute The Dwight line through independent furniture stores and department stores, what is the relevant market?
|
$1,975600,556 |
||
|
$2,509,282,886 |
||
|
$1,622,881,003 |
||
|
$2,234,654,897 |
Step by step
Solved in 3 steps with 2 images
