- Created by: finleyyy
- Created on: 28-01-20 10:23
Marketing- The anticipating and satisfying of customer wants in a way that delights the consumer and also meets the needs of the organisation.Marketing involves communicating with existing and potential customers.
Purpose of marketing- meet the needs of the customers and the organisation. (customer- buy but don't use, consumers use)
Marketing objectives- the goals of the marketing function in an organisation. The organisation aims and objectives cascade down into the marketing function.
- Sales volume = the number of items or products sold
- Sales value = sales volumes x price
Market size- the volume of sales of a product or the value of the sales of a product. It is a measure of potential sales.
- Market share = sales of one product or brand or company / total sales in the market x 100
- Market growth = market size in year - market size in previous year / market size in previous year x 100
Factors influencing market growth
- Economic growth
- The nature of the product
- Changes in taste
- Social changes
Brand- name, sign,…