Marketing Analysis

Question 1

Market growth (%) formula

Answer 1

▲ market size
————————— x100
Original market size

Question 2

Market share (%) formula

Answer 2

Business sales
————————— x 100
Total market share

Question 3

Sales data

Answer 3

Analyse trends in sales figures to assess performance
Use moving averages to smooth fluctuations in sales data and identify long term trends

Question 4

Market sales data

Answer 4

Use both qual data (opinion) and quant data (number stats)
Understand how sample size, bias and reliability affect validity of data

Question 5

PED and YED

Answer 5

Use PED and YED to assess the responsiveness of demand to price or income changes

Question 6

Correlation and confidence interval

Answer 6

Correlation; shows relationship between two variables
Confidence interval; indicate reliability of estimate from market research

Question 7

Extrapolation

Answer 7

Predict future trends based on historical data
Useful for sales forecasting but may be inaccurate if external factors change significantly