Is Profitability or Growth more important for business and Understanding Market

Question 1

The net profit of a corporation is the income after deducting all the expenditures related to the manufacture, distribution, and selling of the goods.

Answer 1

Profitability

Question 2

basically an expansion for a company, making the business larger, growing its demand, and eventually making it more successful

Answer 2

Growth

Question 3

When it comes to market success, productivity and development all go together. Income as a corporate organization is vital to basic financial survival while growth is vital to income and long-term success. Investors should consider any factor that relates to a company.

Answer 3

The Bottom Line

Question 4

THE FOUR NEEDS OF A CONSUMER

Answer 4

Fair price, Good service, Good product, Feel valued

Question 5

When determining if your price is fair, you can take advantage of looking at the ecommerce stores of your competitor so you can calculate the expectations of your customers

Answer 5

Fair Price

Question 6

Customers are constantly suggesting that they would be happy to pay more for a product if it meant that customer service would improve.

Answer 6

Good Service

Question 7

Obviously, creating a solid product is a major consumer need, and a great need for you too.

Answer 7

Good Product

Question 8

A quantitative and qualitative evaluation of a market. Covers the following:
- The Market (Size/Value, Growth, Share)
- The Customers (Market Segmentation)
- The Competition (Analysis of Competitors)
- The Marketing Strategies (Traditional/Contemporary)

Answer 8

Market Analysis

Question 9

is the total number of potential customers.

Answer 9

Market Size

Question 10

refers to the total potential amount of sales revenue, usually in a given year.

Answer 10

Market Value

Question 11

percentage growth

Answer 11

Market Growth

Question 12

percentage of the market owned by each competitor)

Answer 12

Market Share

Question 13

A environment in which two or more parties participate in the exchange of goods,
services, and information is called a market. Ideally a market is a place where two or
more people are interested in the buying and selling.

Answer 13

Market

Question 14

refers to a process of bifurcating or dividing a large unit into various small
units which have similar or related characteristics.

Answer 14

Segmentation

Question 15

marketing term dividing the entire market into smaller subsets of
customers with specific tastes, demands and expectations

Answer 15

Market Segmentation

Question 16

gender-based divisions. Men and women have different desires and expectations, and thus require segmentation.
(Basis of Market Segmentation)

Answer 16

Gender

Question 17

The products and marketing strategies for teenagers would obviously be different than
kids.
(Basis of Market Segmentation)

Answer 17

Age Group

Question 18

Marketers divide the consumers into small segments as per their income. Individuals
are classified into segments according to their monthly earnings.
(Basis of Market Segmentation)

Answer 18

Income

Question 19

Three Categories of Income

Answer 19

High Income Group, Mid Income Group, Low Income Group

Question 20

Types of Market Segmentation

Answer 20

Psychographic segmentation, Behavioral Segmentation, Geographic Segmentation

Question 21

Individual behaviors are the basis for such segmentation. The attitude, interest, and value
of the individual enables marketers identify them into small groups.

Answer 21

Psychographic segmentation

Question 22

Consumers’ loyalties to a brand help advertisers divide them into smaller groups, each
category consisting of individuals loyal to a brand.

Answer 22

Behavioral Segmentation

Question 23

refers to the classification of market into various geographical areas. A marketer can‘t has similar strategies for individuals living at different places.

Answer 23

Geographic Segmentation