1.1 Marketing Maths Flashcards
1
Q
3 Exam tips
A
Write down formula + show workings
Remember units with answer e.g. % or units or £
Always round to 2 dp unless stated otherwise
2
Q
Market Size
A
Measured by the number of units sold in a market
Or the number of all sales in the market
3
Q
Market Growth
A
The percentage change in sales over a period of time
4
Q
Market Growth formula
A
Percentage change (New - Old)/ Old * 100
5
Q
Market Share
A
The proportion of the total market sales that the firm has
6
Q
Market Share Formula
A
Sales of the firm / Sales of the market * 100
