Market Terms Flashcards
1
Q
market
A
any medium on which buyers and sellers can interact and agree to trade at a price
2
Q
mass market
A
a market for services/products that are standertized and produced at a large quantity and aimed for a large group of people
3
Q
niche market
A
a smaller section of a large market for specialized products/services aimed for people with unique wants and needs
4
Q
market size
A
the amount of customers/sales in a market measured in volume/value
5
Q
market share
A
the % of the total market a business has in terms of volume/value
6
Q
brand
A
a logo, symbol, design that is recognizable and destinguishes a product from competitors
7
Q
segmentation
A
dividing a market into groups of people with the same attributes and characteristics
