Market Size & Market Share Flashcards

1
Q

Potential Market

A

Set of consumers who possess some interest in a product or to whom the product is potentially relevant

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2
Q

Available Market

A

Set of consumers who have interest in, income for, and market access to a particular product

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3
Q

Target Market

A

Part of the available market the company decides to pursue with marketing activities

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4
Q

Market Demand

A

Total volume that would be bought by a particular consumer group, in a particular time period, in a particular marketing environment, under a particular marketing program

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5
Q

Influencers on Market Demand

A

external marketing conditions & marketing activities

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6
Q

Market Forecast

A

Market demand corresponding to a certain level of marketing expenditures

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7
Q

Primary Demand

A

Total volume demanded by customers for a product category

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8
Q

Secondary Demand

A

Total volume demanded by customers for a specific brand or product (within a product category)

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9
Q

Market Minimum

A

certain level of demand for the product that would occur without any marketing spend

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10
Q

Market Potential

A

marketing expenditures become ineffective at generating incremental demand because the market has been tapped out

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11
Q

Market Demand (dollars) Equation

A

Market Demand (units) * Avg Retail Price

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12
Q

Product Demand

A

Total Volume of a firm’s product which will be purchased by a particular consumer group, in a particular time period, in a particular marketing environment, under a particular marketing program

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13
Q

Influencers on Product Demand

A

Firm’s level of marketing expenditures compared to competitors’ marketing spend levels

Effectiveness and efficiency of the firm’s marketing expenditures versus competition

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14
Q

Product Demand (dollars) Equation

A

Product Demand (units) * Avg Product Price

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15
Q

Unit Market Share Equation

A

Product Demand/Sales (units) / Market Demand/Sales (units)

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16
Q

Dollar Share Equation

A

Product Demand/Sales (dollars) / Market Demand/Sales (dollars)

17
Q

Penetrated Market

A

set of consumers who are buying products in the category

18
Q

Market Penetration Index

A

Market Demand/ # of Customers in Potential Market

19
Q

Product (Brand) Penetration Index

A

percentage of consumers in a particular target market who are purchasing a particular product or brand

20
Q

Product Penetration Index Equation

A

Product Demand/ # of customers in Target Market

21
Q

Market Demand Equation

A

(# of Buyers in Market) * (Annual Quantity Purchased by an Average Buyer) * (Average Price Paid Per Unit)

22
Q

Marketing Plan

A
  1. Executive Summary & Table of Contents
  2. Current Marketing Situation
  3. Opportunity & Issue Analysis
  4. Objectives
  5. Marketing Strategy
  6. Action Programs
  7. Projected Profit & Loss
  8. Controls