Unit 1.1.1 The Market The clues are the definition to the answer that you need. 0.0 / 5 ? Business StudiesThe MarketA2/A-levelEdexcel Created by: iandisCreated on: 31-12-19 15:52 Where a consumer can purchase a good from a producer Market 1 of 25 The company who sells the most products in their specific market Market Leader 2 of 25 A specialised, small company which produces particular products or provides services Niche Market 3 of 25 A large Market where products are made in bulk Mass Market 4 of 25 The amount of consumers in a market segment Market Size 5 of 25 The comapny that sells the most products due to quality in comparison to the competitors Market Dominance 6 of 25 Where the pace of a market is slow Stable Market 7 of 25 Where the pace of a market is frequent due to consumers and producers Dynamic Market 8 of 25 A portion of the market which a company or a product controls Market Share 9 of 25 Increase or decrease of the market size for a comapany over time Market Growth 10 of 25 How is the answer to clue 10 measured mainly Percentage 11 of 25 Where lots of producers compete with each other for consumers Competive Market 12 of 25 When a company focuses on the market to produce a product that fits to the needs of the consumers Market Orientation 13 of 25 When a company foucses on the product and not the demands of the market Product Orientation 14 of 25 The savings in cost gained by increasing production levels Economies of Scales 15 of 25 A company in a new market has the advantage as it has ot competition and can control the resources First Mover Advantage 16 of 25 Exclusive control of the supply in a service Monopoly 17 of 25 A particular product made and sold by a particular company Brand 18 of 25 When a company takes a new or existing product to improve it Innovation 19 of 25 Where you know the possible outcomes when making a decision Risk 20 of 25 Where you don't know the possible outcomes when making a decision Uncertainty 21 of 25 The money side of figuring out sales. e.g. £24,000 in goods Value 22 of 25 The physical quantity thich are produced and sold. e.g. 100,000 units Volume 23 of 25 Selling goods online Online Retailing 24 of 25 Conducting business transactions online E-commerce 25 of 25
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