Markets

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  • Markets
    • Growth
      • The percentage change in sales (value/volume) within a market over a period of time
      • Businesses need to know if their market is growing or shrinking
      • Competition will be fierce with a shrinking market (less customers)
      • = new - old / size of old x100
    • Share
      • The percentage/ proportion of the total market size help by one business.
      • Allows a business to measure against competitors
      • Can increase only if the business is performing better than rivals
      • = sales of business (product or brand) / total sales in market x 100
    • Size
      • The measurement of all the sales within a particular marketplace.
      • Measured by volume or value
      • Can indicate potential sales for a buisness
    • Segmentation
      • When they split the market into individuals that share the same characteristics.
      • Used to enable a business to better target its product to the right customers
      • Better to sell to more than one segment as there is options for more profit as more available customers

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