Marketing Flashcards
What is relationship marketing?
Relationship marketing is an approach to marketing in which a company seeks to build long-term relationships with its customers by providing consistent satisfaction.
What is market analysis?
Market analysis is involves examining the particular characteristics did a market such as market size and growth.
What is business ethics?
Business ethics refer to whether the actions of a business decision are perceived as morally right or wrong
What is a marketing objective?
A marketing objective is a measurable and time specific target set for the marketing function
What is sales value?
Sales value measures the level of sales in a given period in terms of the amount spent.
What is sales volume?
Sales volume measured the level of sales in a given period in terms of units sold
What is market share?
Market share measures the sales of one brand or business as a percentage of total market sales in a given period.
What is sales growth?
Sales growth is the percentage change in sales volume or value over a given period.
What is market growth?
Market growth is the percentage change in the total sales in the market over a given period.
What is market size?
Market size refers to the total amount of sales in a given industry over a given period of time.
Market share formula
Firms sales / Total market sales
What is market share volume?
MARKET SHARE VOLUME refers to the actual No. of units that a company sells out of total units sold in the market.
What is market share value?
MARKET SHARE VALUE is based on total share of a company out of total segment sales.
What is marketing?
The process of identifying, anticipating (predicting) and satisfying customer needs profitably
