The Market

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Vocabulary and formulas based on Theme 1: Marketing & People notes covering markets, market size, and market share.

Last updated 5:20 AM on 9/3/26

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Market

Anywhere where buyers and sellers meet (can be both in person or online), e.g., the phone market.

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Market size

Measured by either total value or total volume of goods sold.

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Market share

The percentage of sales in a market by one particular firm (sales / market size).

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Market share formula

$\frac{\text{Sales of a business}}{\text{Total sales in market}} \times 100$ (always a percentage)