3.3 Revision 0.0 / 5 ? Business StudiesMarketing and competitive environmentsA2/A-levelAQA Created by: MattP123Created on: 24-06-21 10:28 Equation - (% change in demand / % change in price) Price Elasticity 1 of 6 Equation - (% change in demand / % change in income) Income Elasticity 2 of 6 The process of identifying a gap in the market by looking at competitors Market Mapping 3 of 6 The value at which a product has perfect inelasticity Zero 4 of 6 What market segment appeals to all customers? Mass Market 5 of 6 The process of dividing potential customers into groups based on their characteristics Market Segmentation 6 of 6
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