Market Analysis 0.0 / 5 ? Business StudiesMarketing DecisionsA2/A-levelAQA Created by: ZaynabCreated on: 09-12-19 18:34 How can businesses understand their market geographically? Understand where they are aiming for. Local, National or International 1 of 13 How can businesses understand their market dependant on the Nature of the product Understand if aiming towards agricultural or technological products 2 of 13 How can businesses understand their market seasonally? Identify if their products are seasonal or all year round 3 of 13 How can businesses understand their market depending on their growth? Identify where the development level is- new, growing, saturated 4 of 13 How can businesses understand their market depending on product destination Depends on trade, private consumers. 5 of 13 What can a market analysis identify? If the market (demand) is growing or shrinking 6 of 13 Market Growth (%) (New market size - old market size) divided by old market size. Multiply that by 100 7 of 13 What is market share? The percentage of sales in a market that is made by one firm 8 of 13 Market share (%) sales divided by total market size, multiply that by 100 9 of 13 Sales growth (%) (sales this year-sales last year) divided by sales last year, multiply that by 100 10 of 13 What does a market map show? extremes for 2 measures important to customers, e.g. price/quantity, basic/luxury 11 of 13 How can market maps help a business? Can help spot a gap in the market, identify competitors, 12 of 13 what is a disadvantage of market mapping? can simplify things too much, e.g. selling low quality, high price, potentially due to location. 13 of 13
Chapter 10: Developing and Implementing Marketing Plans 5.0 / 5 based on 1 rating Teacher recommended
Comments
No comments have yet been made