Question

BeeGood Honey recently expanded its distribution to include 74,600 households within the Southwestern United States in an area with a population of 300,000 people. Of these newly targeted households, 35,700 have previously purchased the category. Last quarter the region's total dollar sales for the honey category reported at $827,000, driven by the three largest brands: StingerSue, Sweetness, and BeeGood with sales of $304,000, $200,000 and $94,600 respectively. In the same quarter, unit purchases of BeeGood Honey brand amounted to 38,500 jars across the region. Among the 25,500 households that bought BeeGood, total purchases of honey were reported at 60,100 jars. What is BeeGood's Brand Penetration (%)

Answer 1

Answer: 34.2%

Explanation:

Brand penetration is meant to measure the number of people who bout a certain brand as a percentage of the population that the company target to sell to.

The formula is;

= No. of Households who bought BeeGood Honey/ No. of targeted Households

= 25,500/74,600

= 34.2%