1637592
Descrição
FlashCards por Molly Hills, atualizado more than 1 year ago
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Criado por Molly Hills
aproximadamente 10 anos atrás
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| Questão | Responda |
| Four things to consider when assessing the demand for a product | Size of the Market Market Niches Potential Market Growth Existing Market Segments |
| How do you calculate Market Size? | Price per unit X Amount sold |
| Market size can be calculated using... | Value or Volume |
| Definition of Market Share | The portion of a particular market that is held by a business, product, brand OR a number of businesses and products. |
| How is Market Share calculated? | Sales / Total market Sales X 100% |
| Market growth refers to... | an increase in the size of the market for a particular product |
| Definition of Market Segmentation | Grouping consumers with similar characteristics together into more manageable chunks |
| Four ways market segmentation can be done | Geographic Demographic Psychographic Behaviouristic |
| Example of Geographic Segmentation | Different COuntries |
| Three examples of Demographic Segmentation | Age Gender Income |
| Example of Psychographic Segmentation | Social Class |
| Example of Behaviouistic Segmentation | How often people buy... |
| What is a Niche Market? | A small segment of a large market. Requires specialist products |
| Two advantages and Disadvantages of a Niche Market | A- Can charge Higher prices A- Little/No competition D- Fewer potential customers D- May get taken over by larger companies |
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