Question

Your bagel company has a market share of 7% of area breakfast sales and you have a goal to increase that to 10% in 1 year. The market has $3,500,000 in breakfast sales per year. How much must you increase sales to achieve your goal?

Answer 1

Answer:

$105,000

Explanation:

The total sales are 3,500,000, and the current market share is 7%.

3,500,000 * 0.07 = $245,000

The goal is to increase the market share to 10%

3,500,000* 0.10 = $350,000

The difference between original sales and the target sale is

245,000 – 350,000 = $105,000

An increase of $105,000 is required to achieve a market share of 10%