Market Characteristic Flashcards
1
Q
Market size
A
The size of the market due to the amount of revenue from a business
Expressed as the collective value of the goods the buyer purchases
2
Q
Market growth
A
The amount of which the market grows
The percentage change size of the market measured due to a specific period
3
Q
Percentage change
A
Change / orginal x 100
4
Q
Why is market size useful
A
Helps to find out market size
Find out competition
Helps to find out quantity needed to supply
5
Q
Market shares how does sales effect this
A
Increase in sales than an increase in market shares
6
Q
How to increase market shares
A
You need to :
Sell more to existing coustomers
Be aware of your coustomers needs and wants
Find out why existing and old coustomers no longer use products
Use a variety of marketing techniques
