Unit 3 - Marketing Flashcards
1
Q
Sales value
A
Sales value = volume x selling price
1
Q
Sales volume
A
Sales volume = number of items sold
2
Q
Market growth
A
Market growth = (market size in year -market size previous year) / original market size x 100
3
Q
Sales growth
A
Sales growth = (change in market sales over period of time / original market sales) x 100
4
Q
Market share
A
Market share = sales of one product (or business) / total sales in market x 100
5
Q
Price elasticity of demand
A
Price elasticity of demand = % change in quantity demanded / % change in price
6
Q
Income elasticity of demand
A
Income elasticity of demand = % change in quantity demanded / % change in income
