Unit 3 marketing decision formulas Flashcards
1
Q
What is the formula for market growth
A
(New market size - old market size) / Old market size x 100
2
Q
What is the formula for market share
A
Sales / total market size x 100
3
Q
What is the formula for sales growth
A
(Sales this year - sales last year) / sales last year x 100
4
Q
What is the formula for price elasticity of demand
A
% change in quantity demanded / % change in price
5
Q
What is the formula for income elasticity of demand
A
% change in quantity demanded / % change in real income
