Labour Costs and Productivity Flashcards
1
Q
Demographic
A
the size and structure of the population including features like age profile gender and ethnic makeup.
2
Q
Test marketing
A
is the introduction of a product to a certain geographical area, in order to assess its likely success, or evaluate the effectiveness of marketing methods
3
Q
Market share
A
The percentage of total market sales accounted for by one firm.
4
Q
Market mapping
A
Using a graph to plot existing products in terms of various criteria. It can identify various market segments and gaps in the market
5
Q
Market segmentation
A
Dividing the market up into groups of potential customers, each with different characteristics.
6
Q
Market size
A
The volume or value of sales of a product type
