Markets
- Created by: Eleanor
- Created on: 12-04-13 16:07
View mindmap
- 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
- Growth
Comments
No comments have yet been made