Studied by 2 people
Market Growth
% increase in sales (vol/val) for a specific b/product over a period of time
Market Size
The total volume of a given market
Market Capatalisation
The value of outstanding shares in a plc
Market Development
Strategies aimed at expanding the potential market through new users
Market Mapping
A technique that analyses markets by looking at the features that distinguish different product or firms
The Marketing Mix
The set of marketing tools that the b uses to pursue it market objectives. Process, physical environment, people, place, promotion, price, product
Marketing Orientation
An approach that focus on reacting to customer needs and wants
Market Conditions
Relative to the attractiveness of the overall market in which a b operates
Mass Market
The largest group of customers with specific needs and work in an industry
Marketing Plan
The actions that management intend to take via the marketing mix in order to achieve marketing objectives
Methods of Analysing the Market
Correlations - Moving averages - Extrapolation. (trend analysis)
Price Sensitivity
Effect on the customer or brand loyalty
Growth Rate
The percentage growth over a particular period. Market growth rates are typically quoted in terms of percentage growth per year
Demographic
Defining a market in terms of socio-economics such as segmentation age etc
Electronic Market
A market in which buyers and sellers are brought together using digital means of communication
Product Positioning
The way in which the marketing function tries to create an image or identity in the minds of the target market
Sales Forecasting
Techniques for estimating the likely demand (revenue and volume) for a product in future periods
Repositioning
Changing the marketing mix for a product to appeal to a different market segment
E-Commerce
Digitally enable commercial transactions between and among organisations and individuals
Test Marketing
Launching a new product or service in a limited part of the target market in order to gauge the viability of the product and assess the most appropriate marketing mix
Outstanding Shares
Shown on a company's balance sheet under the heading "Capital Stock
Undifferentiated Approach
Product aimed at everyone with same marketing strategy
Concentrated Approach
Product aimed at a specific target group of consumers and marketing strategy
Differented Marketed Approach
Each market segmented or segment will be targeted in the most appropriate way by individual marketing strategy
Market Targeting
Is the process of deciding the groups of customers to whom a company will attempt to sell their products
Consumer Products
Goods and services that are used to satisfy the wants and needs of the final user
Convenience Products
Frequently bought products, whose purchasing decisions require little thought
Note 
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