3.3.1 setting marketing objectives
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8 Terms
1
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what are the five marketing objectives
sales volume and sales value
market share
market growth
brand loyalty
market size
market share
market growth
brand loyalty
market size
2
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define market size
value or volume of sales in an industry
3
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state the formula for market size
q x avg ppu
4
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define market growth
percentage growth of the overall market size over time
5
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state the formula for market growth
change in market size/original market sizex100
6
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define market share
percentage of sales a business has in a market
7
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state the formula for market share
sales of business/total market salesx100
8
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define brand loyalty
when customers engage in repeat purchases instead of switching between brands
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