3.3 Revision

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  • Created by: MattP123
  • Created 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

Other cards in this set

Card 2

Front

Equation - (% change in demand / % change in income)

Back

Income Elasticity

Card 3

Front

The process of identifying a gap in the market by looking at competitors

Back

Preview of the front of card 3

Card 4

Front

The value at which a product has perfect inelasticity

Back

Preview of the front of card 4

Card 5

Front

What market segment appeals to all customers?

Back

Preview of the front of card 5
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