Product overseas before bringing it to the domestic market

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Reference no: EM131151307

ABC Company is ready to launch a new product domestically. Historically, the companies products have been successful domestically 92% of the time. This new product has been sold overseas for the past 6 months as this has been the traditional market strategy (test a product overseas before bringing it to the domestic market). Historically, products which are successful domestically were successful in the international market 82% of the time. Conversely, products which fail domestically had already failed internationally 93% of the time.

Determine the probability that this new product will be successful domestically if the product has been successful overseas.

Reference no: EM131151307

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