3.2c Analysing Market Data Flashcards
1
Q
Value formula
A
Value = volume x average price
2
Q
Volume formula
A
Volume = value ÷ average price
3
Q
Market growth definition
A
The percentage in sales increase over a period of time
4
Q
Market growth formula
A
Market growth = (change ÷ original amount) x 100
5
Q
Factors influencing market growth
A
- Nature of product
- Social changes
- Fashion
6
Q
Market share definition
A
Percentage of a markets total sales of a product achieved by a specific company
7
Q
Market share formula
A
Market share = (sales of company ÷ total sales in market) x 100
8
Q
Sales growth formula
A
Sales growth = ((sales this year - sales last year) / sales last year) x 100
9
Q
Ways firms can classify markets:
A
- Geography
- Development level (new, growing, saturated)
- Seasonality
