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Estimate the Market Size - Case Study Example

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Running Head: Estimate the Market Size Estimate the Market Size Estimate the Market Size Determining and estimating market size is one of the essential components required while launching a new product or service. However, in this case, the market size would come under estimation for the product is Hopgood Theatre, located Noarlunga centre that is about forty-five minutes drive away from Adelaide in Country Arts South Australia…
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Estimate the Market Size
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Download file to see previous pages Noarlunga centre is an attractive place due to the reason that it covers the residential, commercial and parkland region. Moreover, the recent growth and development is another feature that makes it an eye-catching place (City of Onkaparinga, 2011). Stage lives including the living theatre, concert and visual arts are one of the product types available at Hopgood Theatre. According to the statistics, it has come to conclusion that adults that age 15 years and above living in South Australia are the main stakeholders that have an interest in arts and theatre. In addition, approximately 38 percent of the people that makes up more than 2.5 million visitors attend cultural venues and events on yearly basis. Moreover, the people are also keen to come under involvement in cultural activities, which depicts the figure of over 225,000 people. Slightly over 25 percent of the children between 5 to 14 years are also involved in cultural activities (Australian Government, 2011). ...
A higher proportion that is approximately 99 percent of juvenile of the age group of 15 to 17 years in SA attended cultural venues and events, compared to the other age groups surveyed (ABS, 2007). According to the statistics, the rate of market is increasing due to the reason that the average income as compared to the previous years has seen an inclination in the trend. In addition, the primary cause for the increase in income was the increasing demand of the labor and employment rate also increased with the launching of projects. Moreover, the importance and emphasis on education has also experienced a raise and enhancement over the years as the increased number of visitors on the website proves this fact. While looking at the other end of the continuum, the average spending time of people on the culture and recreation or the leisure activities has come across a declination towards the trend over the past few years. This downfall has added to the reason of the decreasing market. Year Product (Cultural Arts) Sales in Million (Approximate value) Revenues in Million Which month is more likely to have customers 2010 Living Stage 840 2750 April to June 2011 Living Stage 800 3150 April to June 2012 Living Stage 760 3550 April to June A notice in the trend has come under observation that the period from April to June is the peak season in which people are likely to involve themselves in the cultural activities and events (ABS, 2007). References City of Onkaparinga. 2011. Noarlunga Centre - Noarlunga Downs. Retrieved on September, 07, 2011: ABS. 2007. South Australian Cultural Statistics. National Centre for Culture and ...Download file to see next pagesRead More
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